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First, learn the basics. Then set a good example for your children.By Jennifer Schonberger, Staff Writer
FOR IMMEDIATE RELEASE: March 7, 2011 Obama Administration Announces Start of Student Exam Window for 2011 National Financial Capability Challenge Challenge Prepares Students for Secure Financial Futures; Runs March 7 – April 8 WASHINGTON – Today, high school-aged students across the country will begin taking a voluntary online exam as part of the 2011 National Financial Capability Challenge. The Challenge is designed to enhance the financial capability of high school-aged youth across the United States by strengthening their knowledge of the basics of saving, budgeting, and investing. "All of us - parents, educators, policymakers and students - share the responsibility to ensure that young people in our country learn a set of practical skills that will help them navigate important personal financial decisions," said Treasury Secretary Tim Geithner. "This Challenge will help students understand basic finance. To sign up to late the Challenge or download an Educator's Guide go to Treasury.gov
Taking the Challenge could really pay off! The Charles Schwab Foundation is proud to honor students who excel on the National Financial Capability Challenge. High-scoring students are eligible for $1,000 scholarships and $1,000
February 2 : Investment News A bill introduced last month would create a federal grant program intended to increase financial literacy among teens and young adults. Called the Young Adults Financial Literacy Act and introduced by Rep. Andre Carson, D-Ind., HR 300 calls for grants to be funneled to organizations that could develop and implement financial education programs for students 15 through 24. The program would include teaching skills such as financial planning, budgeting, saving and managing debt. For more details, visit thomas.loc.gov.
New from the Money Mammals and CJ$ Advisory Board member John Lanza is a holiday song to teach young children about money. Find it on Facebook at http://www.facebook.com/pages/The-Money-Mammals/32601620501?v=app_6009294086&ref=ts
The FINRA Investor Education Foundation, in consultation with the U.S. Department of the Treasury and the President's Advisory Council on Financial Literacy, commissioned a national study of the financial capability of American adults.The Financial Capability Study highlights how many Americans are disadvantaged by their lack of financial capability, and offers a wealth of previously unavailable information on Americans' behavior relating to how they manage their resources and how they make financial decisions (including the factors they consider and the skill sets they use). This robust set of multi-dimensional measurements allows policymakers and researchers to look at individual financial behavior from various angles, at a level of detail that has never been possible before. View the Study

From the Center for Financial Services Innovation

First Encounters: Youth and Their First Financial Experiences

All kinds of organizations and institutions play influential roles in the lives of young people. This presents these organizations with an opportunity to promote the development of young peoples' financial capability. Depending on the nature of their relationship, these entities can play a critical role in providing resources and support to help young people establish healthy financial habits. This First Encounter Series outlines recommendations for young people to learn about, choose, and interact with various financial products. Specific recommendations are made for: financial educators, schools, and public officials; financial services providers, community organizations and NGOs; and mono-line credit providers. More

 

It's national Protect Your Identity Week. For tips and information, including events in your area, see the Protect Your Identity website. Even children are vulnerable to identity theft. See "Scam traffics in kids' social security numbers" here.
TEACHING YOUR KIDS ABOUT SAVING AND INVESTING: THE WEB'S 10 BEST INVESTOR EDUCATION RESOURCES FOR RAISING FINANCIALLY-SAVVY KIDS

WASHINGTON, D.C.//October 6, 2010//Do you want to make sure your kids start out with the right tools they need to be informed investors when they grow up?  Do you want them to learn the value of a dollar and why it is important to save? In these difficult financial times, teaching your kids what to do and what not to do when it comes to saving and investing is more important than ever.

Parents can now benefit from a major new resource being made available today from the nonprofit Alliance for Investor Education (AIE) highlighting 10 of the best Web-based resources for parents to teach their kids about how to save and invest in today's tough financial times.  The Alliance's new "Teaching Your Kids About Saving and Investing: A Guide for Parents" is available at http://www.investoreducation.org/teachingyourkids.

AIE is the organization of the 20 leading U.S. financial-related foundations, nonprofit organizations, associations and governmental agencies.

Alliance for Investor Education President Dallas Salisbury, who also serves as president and CEO of the Employee Benefit Research Institute (EBRI) and chairman of the American Savings Education Council (ASEC), said:  "It is important now more than ever that children learn the important lessons about money.  Parents can teach their kids by example and also relay important lessons through the many resources available from trusted financial associations and agencies. We have assembled a collection of these resources for parents.  The featured resources include online games, which are a fun way to teach kids financial lessons. Members of the Alliance are devoted to providing resources for parents to share with their kids to teach them the necessary lessons for them to become responsible investors as they grow."

The new "Teaching Your Kids About Saving and Investing: A Guide for Parents" section of the AIE Web site features the following 10 top resources for consumers:

1.       Investing ABCs: Teaching Your Children About Stocks – http://tiny.cc/cq9nb, AICPA's 360 Degrees of Financial Literacy.

2.       Gen I Revolution - http://tiny.cc/o3stv, Council for Economic Education.

3.       A Hitchhiker's Guide to Planning for College Expenses – http://tiny.cc/qxlt8, CFA Institute.

4.       Choose to Save: Savingsman Episode 5: Saving Early - http://tiny.cc/1epiw, Employee Benefit Research Institute.

5.       Tips for Teaching Students about Saving and Investing - http://tiny.cc/f9sp3, Securities and Exchange Commission.

6.       Teach Your Children - http://tiny.cc/xgyow - Certified Financial Planner Board of Standards.

7.       The Basics of Saving and Investing - http://tiny.cc/oo6a5, Investor Protection Trust.

8.       Cover the Basics Before Your Child Leaves the Nest - http://tiny.cc/k4dr9, National Endowment for Financial Education.

9.       Great Minds Think: A Kid's Guide to Money - http://tiny.cc/rtcuo, Board of Governors of the Federal Reserve.

10.   Fraud Scene Investigator - http://tiny.cc/5w7ga, North American Securities Administrators Association.

For an overview of the rest of the best investor education resources on the Web from AIE members, go to http://www.investoreducation.org.