By Andrea Ferrero, www.pocketschange.com
Financial Literacy Day was celebrated on June 26th on Capitol Hill. Students, educators, finance education leaders, and policy makers came together to discuss the future of financial education. Rep. Joyce Beatty (D-OH) kicked off the event sharing that “Financial literacy is important for today, tomorrow, and all our futures.” The energy of that message resonated through the afternoon as everyone explored the tremendous potential of finance education to spark change and transform lives.
As a board member of the California Jump$tart and the Executive Director of Pockets Change, I was drawn to the sense of collaboration. From students sharing the impact of finance education in their lives to organizations discussing how we can all advocate for greater access and application of resources, everyone shared that financial literacy impacts much more than our wallets. We change lives when we work together to build financial literacy and financial resilience.
Celebrating Jump$tart Coalition’s impact across the country! Laura Levine CEO and President of National Jump$tart, Bill Cheeks Jump$tart Eastern States Regional Director, President ABBA Associates Inc., Executive Director of Coalition to improve Credit Education, and Andrea Ferrero California Jump$tart board member and Executive Director of Pockets Change
Los Angeles Unified has announced plans to partner with the California Council on Economic Education (CCEE) and City National Bank to provide high school seniors and families greater access to financial literacy education. CCEE will provide free financial literacy workshops for LAUSD students and their families, thanks to a generous donation from CCEE Board Member, John Nickoll and the Nickoll Family Foundation. The workshops will complement a digital interactive tool from City National Bank that high school seniors can use to learn personal finance in the classroom. Lessons for both programs include how to apply for financial aid, establish credit, invest wisely and more.
Empowering Local Students with Financial Literacy Education
JA Finance Park Mobile
February 19 - March 1, 2019, Sonoma County Fairgrounds
Junior Achievement of Northern California organizes hands-on financial literacy learning experiences for youth in 23 counties.
SANTA ROSA, Calif. – Luther Burbank Savings is pleased to present the JA Finance Park® Mobile to the students of Sonoma County. Produced by Junior Achievement (JA) of Northern California, the JA Finance Park provides an innovative and interactive environment for middle school and high school students to learn personal finance literacy skills and some of the basic economics of life for the 21st century.
Underwritten by Luther Burbank Corporation Foundation and staffed by more than 70 Luther Burbank Savings employees, JA Finance Park Mobile will welcome over 1,200 students during nine days this month. Upon arrival, enrolled students will find multiple dynamic storefronts and kiosks where they will be able to engage with educational tools to gain an understanding of managing money effectively and efficiently through a variety of everyday scenarios.
To be eligible to visit the JA Finance Park, students will have completed 13 hours of class-led coursework. Junior Achievement provides the curriculum and works with teachers committed to helping their students achieve financial literacy.
- By Cathy Washer, Superintendent at Lodi USD
In the California History Social Science Framework for students in grade 12, Chapter 18 refers to the Principles of Economics. Lodi USD senior students are required to complete a semester course called, "Economics" that is based on the History Social Science Framework in order to graduate. In this course, students begin learning about economics from a personal perspective starting with personal budgeting and moving outward to their role in the world. Teachers use this opportunity to provide activities to guide students in the awareness of financial understanding. Many teachers use Financial Fridays as a way to develop financial literacy throughout the semester. Based on a financial identify chosen, students learn to develop a budget, pay bills, save money and invest. Students enjoy the activities and indicate the activities provide them insight into choices for their future and what they hope to accomplish.
With 54 schools and 30,000 students, and covering 350 square miles in the Central Valley of Northern California, Lodi Unified is the 30th largest school district in the state, and was the first to offer a two-day teacher training from California Jump$tart in 2016, to rave reviews. Here is an update on how their efforts have proceeded in the past two years:
Hope your 2019 is off to a terrific start. The end of January is a perfect time to start a budgeting process for yourself—there are three steps: first, take your bank statement and credit cards and see where your money went in January. Then make a budget for February—don’t forget to include your significant other if you are budgeting for a family. Repeat monthly. The two-page form here will help you considerably. We promise that after the first time, this process should not take over an hour!
Next, to move the needle on financial training in California’s schools: An exciting new effort, “Project Groundswell,” has been started by our national affiliate, the Jump$tart Coalition for Personal Financial Literacy. Starting Feb 4, you will be able to access a database to find out what your local high school is offering in personal finance subject matter. If your high school does not have data yet (and it probably won’t), please contact the administration and ask them the current status—the school has the capability to update the database. With enough parents calling their schools, that will start the conversation around the state! The site to access this will be posted on our website soon.
- The California Jump$tart Coalition Board of Directors
In addition to CalCPA’s year-round Financial Literacy program offerings, we have traditionally offered a spring event that CAJ$ has co-sponsored or supported in some way. Over the years the target audiences have varied and the event titles have included Financial Literacy “Summits”, “FL Conference for Educators” and “FL Roundtables”.
In our most recent collaboration for 2017-18, we created “Smart Money Forums” with the intention to travel out to six established groups around the state rather than holding one event requiring people to come to us. The program design matured into being delivered in a variety of formats and to a variety of CA organizations/audiences that have not been our typical target audience.
As a result of this year’s CalCPA effort and CAJ$ co-sponsorship, we were able to increase the number of programs offered around the state. Some of the programs were also supported by the California & Nevada Credit Union Leagues where their local credit unions ran their “Bite of Reality” program. This combined support allowed six proposed programs to become ten. Thank you CAJ$ for your continued collaboration.
President's Adivosry Council is working on connecting PFL and Common Core:
From the July meeting minutes:
"We also are doing a deep dive into ways that we can promote the creation of pilots that align common core objectives and basic financial education concepts. In addition we are looking at how the two major consortiums created to assess common core learning's can help support this effort. We are having discussions with several organizations including the American Federation of Teachers as well as the Jump$tart Coalition to look for ways that we can encourage others who share our concern to work together to create opportunity"
Notes from the July PACFL meeting are at:
An Interesting Infographic on Raising Children: "Costly Kids"
How much does it cost both financially and emotionally to raise a child? This new infographic from EarlyChildhoodEducation.com explores some of the headaches that come with "bundles of joy."
Check it out at: http://www.millionairecorner.com/article/infographic-costly-kids
Pamela Yellen, Huffington Post 07/27/2012 7:04 pm
It's no surprise. Many adults are wary of banks and credit card companies in the wake of the economic crash and many fear another cataclysm is around the bend. Now a new study shows banks and other financial institutions are losing the popularity contest with teens.
Many youth now view the financial sector as a bully laying in wait to snatch their lunch money through predatory lending tactics and high interest charges. That's the view one gets from reading a national opinion poll of high school students recently commissioned by the University of Arizona's Take Charge America Institute for Consumer Financial Education and Research and conducted by The Financial Literacy Group.
"A healthy skepticism about financial institutions has soured into cynicism, where teenagers almost expect to be victimized by financial firms," economists Michael E. Staten and Dan Iannicola Jr. say in an article titled Warm and Fuzzy Financial Ed Doesn't Cut It Anymore.
The poll of 878 students at 18 high schools in 11 states "shows that the majority strongly distrusted financial institutions even while expressing great confidence in other things like their likelihood to find employment and to achieve financial security."
"For example, 60 percent of students polled firmly believe that credit card companies often entice people into taking on more debt that they can handle, while 70 percent believe that businesses try to 'trick' young people into spending more than they should," the article states. "Only 25 percent of students disagreed with the statement, 'the stock market is rigged mostly to benefit greedy Wall Street bankers,' and only 17 percent disagreed with the statement, 'banks are mostly interested in getting my money through hidden fees.'"
The study also found teens lacking in some basic knowledge when it comes to personal finance. For instance, 68 percent did not know that owning stocks is a riskier form of investment than owning government bonds, and more than half didn't know that a high credit score is better than a low score. MORE