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Life Skills: Financial Literacy Skills

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Oklahoma's Passport to Financial Literacy Act requires schools to ... Understanding loans and borrowing money, including predatory lending and payday loans ... – PowerPoint PPT presentation

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Title: Life Skills: Financial Literacy Skills


1
Life SkillsFinancial Literacy Skills
  • Tracy Boyington
  • CIMC

2
CIMCs Financial Literacy Skills curriculum
  • Why do I need it?
  • Whats in it?

3
Passport to Financial Literacy Act
  • Oklahomas Passport to Financial Literacy Act
    requires schools to teach personal financial
    literacy education
  • Implementation will be phased in
  • 2008-09 school year 7th grade
  • 2013-14 school year 7th 12th grades

4
14 required topics
  • Understanding interest, credit card debt, and
    online commerce
  • Rights and responsibilities of renting or buying
    a home
  • Savings and investing
  • Planning for retirement
  • Bankruptcy
  • Banking and financial services
  • Balancing a checkbook
  • Understanding loans and borrowing money,
    including predatory lending and payday loans
  • Understanding insurance
  • Identity fraud and theft
  • Charitable giving
  • Understanding the financial impact and
    consequences of gambling
  • Earning an income
  • Understanding state and federal taxes

5
Financial Literacy Skills
  • Managing Money
  • Understanding Banking
  • Using Credit Wisely
  • Understanding Taxes and Insurance
  • Understanding Investing and Home Ownership
  • Understanding Consumer Fraud and Identity Theft

6
Financial Literacy Skills
  • Wrap-around teacher book
  • Multiple-choice tests
  • Attractive, friendlier format

7
Managing Money
  • Careers/earning money
  • Budgeting/money management/financial planning
  • Comparison shopping
  • Paycheck basics
  • Gambling
  • Charitable giving

8
Understanding Banking
  • Functions of a bank
  • Earning and paying interest
  • How to get and use a bank account
  • Balancing a checkbook
  • Protecting your accounts

9
Using Credit Wisely
  • Different types of credit
  • Advantages and disadvantages of using credit
  • Credit warning signals and credit counseling
  • Bankruptcy
  • Credit reports and credit ratings
  • Debt collection

10
Understanding Taxes and Insurance
  • Purpose of taxes
  • Filling out tax-related paperwork
  • Auto insurance
  • Homeowners/renters insurance

11
Understanding Investing and Home Ownership
  • Investment glossary
  • Risks and benefits of different investments
  • Sources of retirement income
  • Owning vs renting a home
  • Leases
  • Mortgages
  • Housing budget

12
Understanding Consumer Fraud and Identity Theft
  • Advertising and sales techniques
  • Consumer fraud
  • Consumer protection/complaints
  • Spotting, stopping, and preventing identity theft

13
Other resources
  • PowerPoints, websites, and word puzzles
  • okcimc.com/titles/financial-literacy
  • Free online evaluation administered by
    CareerTechs Testing Division
  • okcareertech.org/testing

14
Other resources
  • Free online instruction by partner organization
    Shryk
  • shryk.com
  • mymoola.org
  • weprosper.org
  • Financial Literacy PASS Skills
  • http//sde.state.ok.us/Curriculum/PFLP/PASS.pdf
  • Glossary
  • http//sde.state.ok.us/Curriculum/PFLP/Glossary.pd
    f

15
Questions?
16
For more information
  • Tracy Boyington
  • 405.743.5516
  • tracy_boyington_at_okcareertech.org
  • okcimc.com/titles/financial-literacy
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