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Financial Literacy

Financial Literacy. Financial Literacy. Why do you think the state has added this course to the high school requirements?. GFL 4 State Standards. STANDARD 1 Students will use a rational decision-making process to set and implement financial goals.

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Financial Literacy

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  1. Financial Literacy

  2. Financial Literacy Why do you think the state has added this course to the high school requirements?

  3. GFL 4 State Standards • STANDARD 1Students will use a rational decision-making process to set and implement financial goals. • Standard 2Students will understand sources of income and the relationship between income and career preparation.

  4. GFL 4 State Standards continued • Standard 3Students will understand principles of money management. • Standard 4Students will understand savings, investing, and retirement planning.

  5. GFL Course Units • Financial Planning • Careers • Money Management • Budgeting • Savings & Investing • Consumerism

  6. According to a 2011 survey of 1,000 Parents of High School students by VISA: ____ of parents give their children allowance, but only ___ require them to deposit that money into a bank account. 51% 4%

  7. Parents believe the top three areas of money management where their children need to improve are (Guess): • How to stick to a budget and live within their means (48%) • How to save money (42%) • How to invest wisely (33%)

  8. Put the following in order of concerns parents have for their children’s futures (write letters): A. Drugs/alcohol use • Following the wrong crowd • Personal safety • Developing good personal financial skills and being able to handle money.

  9. Rank and percentage: • Personal safety • Developing good personal financial skills and being able to handle money • Following the wrong crowd • Drugs/alcohol use CDBA 89% 74% 58% 56%

  10. What percent? ____ use a savings account, checking account, debit card or credit card. 73%

  11. What percent? Teens have nearly $_____ saved, and ___ percent say their main reason for saving is to pay for college. 1,000 76

  12. What percent? ____ of teens surveyed say that they want to learn more about how to manage their money …. 55%

  13. Teens particulary want to learn about: • Investing (88%) • Saving (87% • Budgeting (82%) • Checking accounts (80%) • Financing for Big Purchases like a car or a home (79%)

  14. What percent? ___ of teens indicate they would rather learn about money management in a class before making mistakes in the real world. 86%

  15. Let’s do our own survey! • Do you have a written plan for your money? Yes___ No ___ • Our percentage ____% • Only ____% of teenagers have ever made a written plan for their money. 13

  16. Let’s do our own survey! • Do you put money in savings when you receive an allowance or earn some money? Yes___ No ___ • ____% of teenagers said they put some money in savings when they receive an allowance or earn some money 49

  17. Let’s do our own survey! • Are you a spender or a saver? Big Spender___ Super Saver ___ • ____% consider themselves “Super Savers,” as opposed to ____ who characterize themselves as “Big Spenders.” 77 23

  18. Let’s do our own survey! • How much money did you spend on Prom last year? • What was the average amount spent on Prom in 2012 throughout the U.S.? $1,078

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