TheMint.org - Fun For Kids - How Banks Work You’ve done a great job saving. Now, your parents want you to put those dollars and cents into a savings account at a bank. How do banks work? Lots of people give their money to banks. When you give your money to a bank, it’s called a deposit. You’re probably thinking, “Wait a second… banks pay ME money, and I don’t have to do anything? Banks lend your money to other people. If people don’t have enough money saved up to buy something, they often borrow money from the bank to buy big things, like houses and cars. Let’s say you borrowed $10 from a bank. Without money from people like you, banks wouldn’t have any money to lend. If you leave your money in savings… Every month, the bank pays you for keeping money in your savings account. Imagine if your parents gave you $100 for your birthday every year for ten years. Use the Compounding Calculator to see what will happen if you save on a regular basis.
Institute For Financial Literacy ®National Standards Second Edition Released: October 2007 The National Standards for Adult Financial Literacy Education identify the personal finance knowledge and skills an adult should possess. The Institute for Financial Literacy® contends that all adults who receive financial literacy education should have, at a minimum, the knowledge and ability to competently perform the basic tasks of managing their personal finances. Financial literacy is a lifelong process requiring both academic and practical components. No single textbook or educational program can result in a financially literate adult. Financial literacy textbooks and education programs must be clear and concise, and they may be components of a comprehensive financial literacy curriculum. The Institute for Financial Literacy strongly recommends that adult financial literacy education programs be designed to appeal to multiple adult learning styles and modalities, and utilize any educational resources found to be effective. Top
Resources and Downloads for Financial Literacy Learn About the Benefits of Teaching Financial Literacy What Is Financial Literacy?: Learn what it takes to become financially literate, why this set of knowledge and skills so critical, and what this means for schools. (Edutopia, 2015) The Value of Financial Literacy: Take a look at this infographic for more information about what the research tell us about teaching finance to students. (Edutopia, 2012) Entrepreneurship Education Stresses Learning by Doing: Discover how entrepreneurship education can engage students’ critical thinking skills and deepen their financial literacy. Back to Top Discover Lessons, Simulations, Videos, and Apps 40-Plus Resources for National Financial Capability Month: Find resources for students of all ages in this compilation of games, lessons, hooks, apps, and more. Explore Activities for Grades K-8 Explore Activities for Grades 9-12 Downloads and Examples From Schools That Work Piggy-Bank Friday: Life Skills Through Financial Literacy
Economy for Kids Banks, bailouts, debt, the housing market, and the Dow Jones Industrial Average are in the news everyday. These are all pieces of what we call the economy, and making sense of it can sometimes be confusing. Scholastic News is here to help! Begin exploring Economy for Kids by playing the What's That Economics Word game to test your knowledge about important economic terms. What's That Economics Word? Play word scramble and word search games with vocabulary words you need to know when talking about the economy. Articles Kid's Economic Glossary by Karen Kellaher Scholastic News Online | nullnull,null A glossary of economic terms to help kids better understand the economic and the current economic crisis. First Address to Congress by Laura Leigh Davidson Scholastic News Online | nullnull,null In his first speech to a joint session of Congress on Tuesday, President Barack Obama talked about the historic economic challenges facing the United States. It's the Economy by Dante A. Activities
Money Smart - A Financial Education Program Money Smart is a comprehensive financial education curriculum designed to help low- and moderate-income individuals outside the financial mainstream enhance their financial skills and create positive banking relationships. Money Smart has reached over 2.75 million consumers since 2001. Research shows that the curriculum can positively influence how consumers manage their finances, and these changes are sustainable in the months after the training. Financial education fosters financial stability for individuals, families, and entire communities. The Money Smart curriculum for consumers is available free of charge in four versions: FDIC, in collaboration with CFPB, offers a stand-alone instructor-led module targeting the needs of older adults (age 62 and older). Also, the FDIC in collaboration with SBA, offers an instructor-led curriculum focusing on the needs of new or existing entrepreneurs.
Economics Economics Economics is not just money. It's businesses and how they work. It's lemonade stands and how many dollars they take in. It's toy collecting and baseball card collections. It's taxes and allowances. (For a description of these fun, illustrated, easy-to-read articles, click here.) Making a Budget One thing that every good money manager does is make a budget. Why All the Graphics in Economics? The Importance of Trade Trade is vital to the success of a civilization. How the Internet Has Changed Economics As the world population gets larger and technology keeps advancing, more people are able to do more things that they couldn't do before. How Money Has Changed Money used to be coins only. Summer Fun: the Economics of the Lemonade Stand When it's really hot outside, you often want to stay cool. Graphics courtesy of ArtToday Next 1 2 3 <A HREF="
Financial Literacy Online Education, Programs & Courses | MoneyU The Uniqueness of Employee Training in the Banking Industry I want to start a series on the blog. being more industry-specific, so I hope over the coming weeks and months to focus on specific professions and various industries, and look at the uniqueness of employee training programs and strategies within each. I hope also to be able to conduct interview with leading learning professionals from each field, and get their insight as well. Let’s start with the banking and financial services industry. Employee training is an important factor in each and every industry, as it helps the workers to stay aligned with the organizational goals. It also serves as an extra layer of security for the financial sector, which has suffered from a major budget reduction within most companies due to the economic recession. First of all, most banks offers a full program of training and development, which is addressed to those who want to specialize in banking, both graduates and people with practical work experience. - Explanation of customer care and banking.
Can Financial Literacy Enhance Asset Building? Brief #6 in the series Opportunity and Ownership Project The nonpartisan Urban Institute publishes studies, reports, and books on timely topics worthy of public consideration. The views expressed are those of the authors and should not be attributed to the Urban Institute, its trustees, or its funders. Note: This report is available in its entirety in the Portable Document Format (PDF). Asset-building strategies for low- and moderate-income families typically rely on strengthening incentives to save and invest. But market incentives already exist, and simply adding to them is not enough. Financial literacy and education programs must deal with an environment where people confront an increasingly complex array of choices that many are illprepared to make. This brief examines financial literacy and programs to improve financial knowledge and decisionmaking. Notes from this section of the report 1.
Innovations in Financial Literacy and Capability (c) Familia Luchon. Comic strip showcasing financial literacy. What Is Financial Capability? The World Bank is evaluating how to best meet the needs of our clients in both financial literacy and financial capability. In looking at what works, the Bank has produced three unique case studies on innovations in financial capability to provide a starting point for discussion The interactive tools and videos on these web pages introduce the case studies and the financial capability interventions that they used. Innovation in Financial CapabilityWhile there is mixed and limited evidence of financial capability’s success in actually changing financial behavior, the importance of this subject has garnered the attention of groups such as the World Bank’s Russia Trust Fund. Traditional attempts at behavior change were based on a “rational person” model, where it was believed that giving the average person information will move that person closer to choosing the correct behavior.