Strategies for Teaching Personal Finance to Technical Leaders of All Ages Carmen Pedersen Elizabeth...

Strategies for Teaching Personal Finance to

Technical Leaders of All Ages

Carmen PedersenElizabeth Espino

Karen Alexander, Ph.D.

#LetsTeachFinancialLiteracy

Poll

⦿ If you have a Smart Device, please go to www.socrative.com now.

⦿ Select “Student Login”.⦿ Enter room code: SGCROXWX.⦿ Answer the questions.

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Benefits of Financial Literacy

⦿Cash management ⦿Debt management ⦿Planning for retirements ⦿Saving plans⦿Credit usage

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Benefits of Technology

⦿ Accessible to younger generation ⦿ Abundant resources ⦿ Easiness in teaching (TeachThought, 2013)⦿ Improves student interest in content

(TeachThought, 2013)⦿ Learning becomes enjoyable (TeachThought,

2013)⦿ Compliments child’s learning style

(TeachThought, 2013)

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Putting Them Together

⦿Help students and low socioeconomic communities

⦿Break poverty cycles

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Resources that Teach Financial Literacy and Allow for PracticeAges 5-10

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Lesson Topics

⦿How Money Works⦿Basic Savings⦿Spending

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PiggyBot by BancVue, Ltd.

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⦿App: https://itunes.apple.com/us/app/piggybot/id844151884?mt=8 ⦿Virtual Balance⦿Smart Money Management ⦿Track Allowance Spending & Saving ⦿Three Accounts: ›Spend-It ›Share-It ›Save-It

PiggyBot by BancVue, Ltd.

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Money Island by BancVue, Ltd. ⦿App: http://www.bancvue.com/financial-literacy/moneyisland.html ⦿Fun into Financial Literacy ⦿Real Life Principals of Financial Planning ⦿Parent & Teacher Center ⦿Curriculum Build Skills: ›Saving & Spending ›Earning & Investing ›Using Credit Wisely

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Money Island by BancVue, Ltd.

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Apps by Green $treet Commons

⦿App: http://greenstreetcommons.com

⦿Users

› Educators, Parents, Grandparents, & Children from 5-8 years

⦿Real Life Principals of Financial Presentation

⦿Learn Essential Money & Math skills:

›Setting Goals

›Budgeting

›Earning Money

›Saving & Spending Decision Making

›Giving to Charity

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Apps by Green $treet Commons

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Resources that Teach Financial Literacy and Allow for PracticeAges 11-17

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Lesson Topics

⦿Basic Financial Literacy⦿Budgeting⦿Tracking expenses⦿Saving⦿Spending⦿Credit

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Financial Football HD by Practical Money Skills & Visa

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⦿App: http://www.practicalmoneyskills.com/games/trainingcamp/ff/

⦿Test Money Management Skills

›Answer Financial Questions that allow you to move downfield & score touchdowns.

⦿Lessons Provided for Educators

⦿Ages 11-18+ years old.

⦿Key Concepts :

›Saving & Spending

›BUdgeting

›Wise use of Credit

Financial Football HD by Practical Money Skills

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Texas Reality Check by: Texas Education Agency

#LetsTeachFinancialLiteracy

⦿App: http://www.texasrealitycheck.com⦿Selecting the right career for a person’s Spending Needs ⦿Reality Check ›Buying “Stuff” ⦿Future Salary ⦿Occupation DIrect

Texas Reality Check by: Texas Education Agency

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Practical Money Skills Calculators by Visa

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⦿App: http://www.practicalmoneyskills.com/calculators/

⦿Explore Financial Information using Calculators

⦿For all Ages

⦿Type of Calculators:

›Auto

›Budget & Goals

›Career & Retirement

›Family & Life

›Education & College

›Many More

Practical Money Skills Calculators by Visa

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Resources that Teach Financial Literacy and Allow for PracticeAges 18-25

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Lesson Topics

⦿Financial Literacy⦿Budgeting⦿Tracking expenses⦿Saving⦿Spending⦿Debt⦿Credit

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MintGrad by Mint.com

⦿ http://www.themintgrad.org/⦿ Assess your knowledge with financial quizzes⦿ Calculate and pay down your debt⦿ Learn about your spending habits and budget

busters⦿ Develop a budget and savings goal⦿ Learn about practical investment strategies⦿ Start a savings plan⦿ Read a blog about finances for young adults⦿ Socialize about money using #hashtags, e-cards,

and social media

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MintGrad by Mint.com

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Personal Financial PlanWIZ by PF Wiz LLC

⦿ App: http://pfwiz.com/financial-planning-wiz/⦿ Set goals⦿ Track your income, assets, debt, and retirement

savings⦿ Performs “what if” analyses ⦿ Provides tips on wealth, cash flow, and goals⦿ Emails results as a pdf

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Personal Financial PlanWIZ by PF Wiz LLC

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Bill Guard

⦿ App: https://www.billguard.com/ ⦿ Tracks your spending⦿ Notifies you about potential fraudulent purchases

and data breaches⦿ Alerts you about potential identity theft⦿ Analyzes spending⦿ Contacts card companies in the case of

fraudulent purchases⦿ Offers $1 million in identity theft protection**⦿ Best Finance App of 2014- Google PlayStore

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Bill Guard

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Resources that Teach Financial Literacy and Allow for PracticeAges 25+

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Lesson Topics

⦿Financial Literacy⦿Budgeting⦿Tracking expenses⦿Saving⦿Spending⦿Debt⦿Retirement⦿Investing

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Mint Personal Finance by Mint.com

⦿ App or Website: https://www.mint.com/ ⦿ Develop a budget⦿ Tracking spending⦿ Receive bill reminders⦿ Pay your bills⦿ Check your credit score⦿ Receive customized tips for money management

and improving your credit

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Mint Personal Finance by Mint.com

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MyHome ScrAPPbook by National Association of Insurance Commissioners (NAIC)

⦿ App: http://www.insureuonline.org/insureu_games_apps.htm

⦿ Take inventory of household items for insurance purposes› Pictures› Descriptions› Bar Codes or Serial Numbers› Purchase Date and Price

⦿ Includes tips

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MyHome ScrAPPbook by National Association of Insurance Commissioners (NAIC)

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WreckCheck by National Association of Insurance Commissioners (NAIC)

⦿ App: http://www.insureuonline.org/insureu_games_apps.htm

⦿ Guides you through steps to take following a car accident

⦿ Stores information⦿ Records current location, photos, and audio⦿ Creates an accident report⦿ Provides tips for filing and following up on a

claim

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WreckCheck by National Association of Insurance Commissioners (NAIC)

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Retire Logix by Oltis Software, LLC.

⦿ App: http://www.retirelogix.com/⦿ Interactive retirement calculator⦿ Accounts for income (benefits, pension,

annuities, assets), wants, needs, taxes, and inflation over a number of years

⦿ Provides a report of financial information and need

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Retire Logix by Oltis Software, LLC.

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Resources that Teach Financial Literacy and Allow for PracticeEducational Tools

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Video:https://www.youtube.com/watch?v=FagVSQlZELY&sns=em

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Student Instructions:Technology Application Reviews

Select an educational app related to your instructional area/s to review.

Share and discuss reviews via the Blackboard discussion tool by the designated date.

Reviews should include:

1. Correct APA citation of the app site

2. Brief summary of the app’s functions (1-2 paragraphs)

3. Personal reaction to the app (1 paragraph)

4. Implications for your practice (1 paragraph)

One page single spaced or two pages double spaced will be sufficient.

Reviews will be worth 10 points each.

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Live Binder:http://www.livebinders.com/play/play?id=1602230&backurl=/shelf/my

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Sources

TeachThought. (2013). Making The Gamification Of Financial Literacy Work. Retrieved June 26, 2015.

Authors

Carmen PedersenTexas Tech Doctoral StudentCarmen.Pedersen@ttu.edu(706) 340-7049

Elizabeth EspinoTexas Tech Master's StudentElizabeth.Espino@ttu.edu(806) 401-9609