Financial Literacy for High School Classroom
A national push for Financial Literacy requirements for High School students is real. Many states across the nation have already passed laws that mandate high schools teach financial literacy. Some of these mandates are unfunded and provide little guidance for implementation.
In 2006, First Command Educational Foundation created and published, in response to the unfunded mandate for financial literacy training in Texas public schools and open-enrollment charter schools, our high school financial literacy curriculum. The curriculum was written to the guidelines issued in Texas House Bill 492, covering all 12 elements that State Legislators demanded. The curriculum was approved by the Texas State Board of Education as meeting TEC 28.0021.
The curriculum has been updated twice since the first release, but with each new edition, the demand grows, and FCEF has distributed more than 1,200 copies to schools across the state of Texas.
Today, FCEF is working hard to expand the high school curriculum to meet the requirements of other states around the nation. Click the following link to find out what your state legislation is doing regarding financial literacy: http://www.jumpstart.org/legislation.cfm
The modules below have been approved by the Texas State Board of Education and include the following topics:
In addition to our curriculum being approved in Texas, FCEF offers training for high school teachers that provides instruction on implementing the FCEF curriculum. Best of all, this training is approved by Texas Educational Agency for Continuing Education Units.
While much of the personal financial literacy curriculum would seem to be common sense, there are details and skills teachers will need to elaborate on to ensure that students learn the skills necessary to build their financial future. Their immediate decisions will impact their long-term wealth building skills, and the nation’s economy.
Our CEU workshop will cover building a spending plan, using credit wisely and planning for retirement, as well as how to effectively use the curriculum, our online calculators and the numerous resources for additional research. For more information about scheduling a CEU workshop on your area: call 877-872-8289 or info@edufoundation.org. Use this address to request a workshop in your Region, ISD, or School.
Avoiding and Eliminating Credit Card Debt
Debt, or using future purchasing power in the present, has existed almost since the dawn of time. Credit cards give consumers the freedom to purchase items that are both needed and wanted, and pay for them later, and the give merchants a tool to help insure sales of their product. So, credit is vital to our economy, but in this module we will become familiar with how the use of credit can have a negative impact. Student will understand the concepts of borrowing and interest, will know the resources available to avoid negative impact of credit debt, and will understand how and when to use them.
Rights and Responsibilities of Renting or Buying a Home
Renters and potential homebuyers have both rights and responsibilities. Landlords and mortgage lenders must abide by a strict code of ethics and legal guidelines. Renters and home buyers, too, must meet these obligations throughout the term of the contractual agreement. The objective of this module is to discuss those agreements and obligations and insure comprehension of the basic provisions of the housing lows of the State of Texas.
3Making the Transition from Renting a Home to Buying a Home
The responsibilities of a homeowner are vastly different than those of a renter. Housing is an expensive part of your budget, so it is important to weigh the money issues carefully and make the right decision to fit your budget and your lifestyle. This module will help students prepare to make an educated decision when they are ready for home ownership.
Starting a Small Business
Starting a small business can be challenging and risky but chances for success improve with good planning and preparation. Potential business owners must determine if they possess the right skills to be successful even before they determine if the product or service they intend to provide is marketable.
The Stock Market and Investment Options
Investing in stocks, bonds, and/or other investment vehicles provides the opportunity for the growth of assets. Choosing a suitable investment, however, is a complex issue. This module will give students the opportunity to understand the language and the methodology.
Retirement has many definitions but is usually perceived as the ability to maintain your standard of living without the necessity for daily employment. With the growing difficulties of government-sponsored programs, it is now more important than ever that individuals start their own saving plans for retirement and rely less on programs like Social Security. There are many different types of saving plans that offer tax advantages and are specifically designed for retirement savings. This module will provide information on the stock market and the different investment vehicles available to potential investors, including stocks, bonds, ETFs, and mutual funds.
U.S. Bankruptcy Code provides protection to people who are in financial jeopardy and are suffering under mountains of debt. The bankruptcy laws were originally created by Congress to provide relief to those who have been victimized by divorce, job loss, identity theft, large medical bills, or disability. The decision to file for bankruptcy is not an easy one to make and should be considered only as a last resort after all other options for debt reduction have been exhausted. Discuss the difference between filing bankruptcy under Chapters 7, 11, 12, and 13. List the advantages and disadvantages of filing for bankruptcy.
There are many different types of accounts and products offered by banks and credit unions, such as checking accounts, savings accounts, certificates of deposit (CDs), and money market accounts. This module will list the types of accounts that banks offer, the advantages of the different types of accounts and additional features offered on those accounts.
Technological advances have made it easier to access your money in a bank account. Online banking, Even with all these improvements it is still vital that an account holder keeps track of what goes in and what comes out of your checking account. This module will provide information on what goes on a check register and how to balance your checkbook.
The definition of a loan is a sum of money provided to a borrower, at a specified rate of interest, for temporary use. Loans have become quite specialized, and, as a result, there are different types of loans that serve specific functions. Provide information on different types of loans available. This module will provide information on the different types of loans and how credit scores impact not only potential approval but the cost for these loans.
Insurance is basically a protective measure against loss. It is a contract binding one party to protect another against a specified loss in return for premiums paid. In the financial planning world, insurance is known as risk protection or risk management. Purchasing insurance to cover the unexpected provides a safeguard against events over which you have no control. When purchasing insurance, you need to consider the cost and evaluate the benefits in order to make your decision about what is appropriate for your particular situation. There are many different types of insurance and many different companies that offer insurance. This module provides information on different types of insurance available and the purpose each one serves.
More than 80% of the money raised by charities comes from individual donations. Giving to charity is a way for us to help the less fortunate by volunteering our resources, Charitable organizations, which provide benevolent, educational, philanthropic, and humane services, fulfill a valuable role in society. This module will provide information on how to identify and select reputable charities, and discuss how to make contributions that will have a positive impact on the charity and your budget.