Schools in the News

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Nov 11, 2014
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Financial Literacy, Schools In News
  • Letonia (OH) High School teacher recognized by state for financial literacy efforts (Salem News):

Leetonia High School teacher Ted Carchedi was recognized by Treasurer of Ohio Josh Mandel for his outstanding work in financial education at Leetonia Schools. Through the use of innovative tools the students receive quality finance instruction. Mandel said Carchedi is a champion of financial education, demonstrating a great work ethic and high integrity, making him a tremendous role model for his students and colleagues.

  • High school teacher recognized for creating in-class economy to teach financial literacy skills (Rochester TWC):

One high school teacher has created his own classroom economy to teach financial literacy—and he’s been awarded for it. Tara Lynn Wagner filed the following report.  Mr. Gurney has managed to make economics a popular class in his high school.  “He’s really not like most teachers. He moves around the classroom. He interacts with us,” said student Melissa Costa.  “It’s pretty hard to make social studies interesting, but Mr. Gurney does a really good job at it,” said student Michael Anthony Hudson Jr.

  • Students in Racine, Wisconsin learned about the “real world” through a Reality Check Day simulation (Journal Times):

It starts with a career, and then a marriage status, children, salary and credit score. It’s Reality Check Day. This year, about 600 students from Racine Unified School District high schools got a taste of what life could be like after school.  Sponsored by Educators Credit Union, the hands-on financial literacy event gives students a chance to prepare for the future.

Each student is given a life profile. After a brief orientation, students have to make financial decisions that will impact their “family” for one month. Hosted at Roma Lodge, students went from booth to booth to do things like pay for housing, child care, utilities, food and clothing that all fit within their budget.

  • Personal finance summer camps becoming more prevalent (CNBC):

“Addressing this lack of financial literacy in our country, Tipograph says that personal finance camps are becoming increasingly popular. Your child does not necessarily have to be interested in a career in business to benefit.  Teaching your kids concepts such as saving early and often, the importance of budgeting and investing and how to avoid debt are vital to financial success. It is important that they respect the value of money.”

  • New York Stock Exchange President weighs in on importance of financial literacy and starting the lessons at a young age (CNBC):

“Part of the benefit in educating for financial literacy, is educating the benefit of holding stocks and how great of an investment it is,” Farley said. “It is a problem when the lower class, lower middle class and even the middle class isn’t participating in significant wealth creation…At NYSE we fund financial literacy programs that start in the first grade,” he said. “I think a 9 year old and a 6 year old can learn the basics of financial literacy.”

  • Bill Clinton hosts “largest financial literacy event ever at USC (NBC News with video).” His advice:

“Clinton called financial literacy “a very fancy term for saying spend it smart, don’t blow it, save what you can, and know how the economy works” and credited it for turning his life around, saying no one would have expected he’d be president as a kid.”

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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