CU-Online: PK-12 Ed Tech News and Resources
Add to Technorati Favorites

Grant Wrangler

Featured K-12 Grants

Find Elected Officials
Enter ZIP Code:

or Search by State

See Issues & Action
Select An Issue Area:
Contact The Media
Enter ZIP Code:

or Search by State

Calendar

««Nov 2009»»
SMTWTFS
1234567
8
9
1011121314
15161718192021
22232425262728
2930







Mailing List

Her Blog Directory

Links Verified by: Web Link Checker

Assistive Tech Providers

CD DVD Burning Software Free

Character Education

Copyright & Fair Use Chart

Copyright/Fair Use Chart

Culture of the Internet

Decision-making Tools

Digital Citizenship

E-mail Shareware

Free Blogging Software

Hardware Reviews

Media Literacy

Multicultural Study Resources HS

Newspapers Portal

Open Source Mind Mapping Softwar

Podcast Search Engines

Podcasting "How To" Tutorials

Podcatcher Software

Problem-Based Learning

Research-based Strategies

Web-Enhanced Curriculum

Resources For Teaching Financial Literacy

« H E Lynne Wolters :: email
posted Tuesday, 6 January 2009

  1. Banking On Our Future: Covers the basics of banking, checking, savings, and investing.

  2. National Council on Economic Education

  3. Scholastic: Help Kids Understand the Financial Crisis

  4.  Jumpstart Coalition for Personal Financial Literacy

  5. Rethinking Schools Online, 2007: "Living Algebra, Living Wage"

  6. National Endowment for Financial Education

  7. News Hour Extra: Lesson Plan/Financial Crisis/PBS

  8. Brighthub.com: "Stock Market Crashes: Today and Yesterday"

links: digg this    del.icio.us    technorati    reddit


Respond With Your Comment Here (1)


1. Prof. Samuel D. Bornstein left...
Wednesday, 7 January 2009 7:45 am

There is a schism between what we need to know and what we actually understand in our complex financial and credit-based economic environment. This is because, at least in part, we teach remarkably little about money and credit in our schools, and unfortunately, what is taught is often not understood.

There is need for a new and innovative Financial Literacy Delivery System to deliver financial literacy education as is evidenced by the Subprime Mortgage Crisis, the growing number of personal bankruptcies, the dangerously high level of credit card debt, the low savings rate, the lack of retirement planning, etc. It can be particularly effective for the Subprime Mortgage borrowers who are currently at risk of mortgage default, foreclosure, and financial distress.

The Solution is “Immediate and Specific Financial Guidance” .

We are living in a very complex financial environment. However, we lack the financial “understanding” to make informed decisions that affect our lives. Our level of Financial Literacy has lagged far behind the pace of the complexity of financial matters. This is the cause of our problems.

Financial Ignorance (FI) is the cause of this whole economic catastrophe. By Financial Ignorance I mean the lack of the financial “understanding” required to make sound financial decisions. The Subprime Crisis and the Madoff Affair are prime examples of what can happen when consumers lack the basic understanding of Financial Understanding. The high rate of Small Business Failure can also be attributed to FI.

There is a need for financial literacy education as is evidenced by the Subprime Mortgage Crisis, the growing number of personal bankruptcies, the dangerously high level of credit card debt, the low savings rate, the lack of retirement planning, etc. It can be particularly effective for the Subprime Mortgage borrowers who are currently at risk of mortgage default, foreclosure, and financial distress. This web-based program can supplement the work of the government’s efforts and counseling agencies to reach these borrowers to guide them to avoid default.

Most of us are like a “Boat without a Paddle” when it comes to the ability to use Financial Understanding for sound financial decision making.

Everyone speaks of “Financial Literacy”. This term has been so overused. The current state of Financial Literacy merely transfers “information” rather than help the consumer in “understanding”.

The solution is that we can ill afford to continue with a limited knowledge in Financial Decision-Making. No matter what our regulators do, we are prone to repeat these errors, UNLESS we direct our national attention to addressing this weakness in our national character.

Samuel D. Bornstein Professor of Accounting & Taxation Kean University, School of Business, Union, NJ Tel: (732) 493 - 4799 Email: bornsteinsong@aol.com