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LifeDojoFinancial Skills 101: A turn-key technology resource for teaching financial literacy.
+The Challenges of Financial Education Delivery
Delivery constraints Length of course (2 weeks, 2 months, semester?)
Resources Which way to turn?
Will anyone use textbooks in 5 years?
Evolving world of money Concepts and tools are constantly evolving Static materials become quickly outdated
Teacher training How many teachers just had this dumped in their laps?
+Technology as a Teaching Tool
LifeDojo's the tool, teachers are the artists who bring the science of our content alive for students.
+Blended Learning Best Practices“ONLINE VS. BLENDED LEARNING: DIFFERENCES IN INSTRUCTIONAL OUTCOMES AND LEARNER SATISFACTION” - Lim, Morris, Kupritz
Include instructional activities and collaboration opportunities that enhance the learners’ emotional engagement with peers and instructors.
Blended delivery format provides clearer instructions to learners rather than the online delivery format alone.
Learners seemed to value those learning activities that they could apply learned knowledge and skills to personal situations more than merely understanding instructed learning content.
Financial Skills 101:A Blended Learning Program
+LifeDojo – The Animated Story
Main characters Gary and Wayne Non threatening, subtle humor
Story Guides students through concepts aligned to standards in a
story format Stories are 5-8 minutes 20 total stories
Focus Financial capability = personal happiness, well being, health*
*Evidence based view
+LifeDojo Opening Story
URL: https://docs.google.com/file/d/0B4VodSaJdsZhakJUSjN0MDB5UWs/edit
Note – must be signed into Google Account to present
+LifeDojo – The Quiz
First three assessments pre-assess Behavior: Putting knowledge into action Knowledge Attitudes: Ex. – do they trust banks, would they be willing to
borrow, etc.
Remaining assessments are 10 questions each. Critical thinking Practical application to the lives of teenagers Multiple choice
+Example Quiz Questions 1. Do you have a savings goal?
Yes No
2. Do you have an account specific for savings at a credit union or bank, that you only draw from in the event of an emergency or if you reach your savings goal? Yes No I do not know
3. Do you contribute regularly to an account specific to savings, that you only draw from in the event of an emergency, or if you reach your savings goal? Select all that apply. Yes, I make monthly payments by depositing money myself Yes, I use direct deposit services to make deposits directly into my savings
account No, I do not have a savings account I have a savings account but do not contribute at least once a month I do not know I do not have a job
+LifeDojo – Take Action
Steps teachers and/or students can choose. Differentiated
Written with the overburdened teacher in mind Written for teachers of all delivery requirements in mind
Duration of class, subject area, expertise of teacher Written to engage students in the financial world they live
in now
Behavioral strategies integrated Built in program pledge, monitor, and encourage
application Various other strategies recommended throughout
+Example Take Action Steps Step 1 Option 1: Create a free Lift account. Lift gives you steps and milestones to
make progress more manageable; it provides the daily motivation to stay focused and stick with it; and the community support one another. We will use Lift for a number of nudging activities throughout the course. URL: https://lift.do/
Step 1 Option 2: Select a trustworthy family member or close friend who has self control interested in helping motivate you to put what you're learning in the course to action. Much like a social group working together to become more physically fit, this person must be willing to work with you to encourage you to become more financially fit.
Step 2 Option 1: Browse and bookmark the USA.gov Consumer Action Handbook online. The handbook provides objective and practical consumer information for savvy consumerism, resolving consumer problems, a resource for consumer resource and assistance programs. URL:
http://www.usa.gov/topics/consumer/consumer-action-handbook-online.shtml
Step 2 Option 2: Browse and bookmark the America Saves website. America Saves is a campaign coordinated by the nonprofit Consumer Federation of America (CFA) and is dedicated to helping individuals save money, reduce debt, and build wealth. URL: http://americasaves.org/
+LifeDojo – Learning More
Opportunities for students to extend their learning Real world resources to help them now, and in the near
future
+Example Learning More Resources America Saves is a campaign coordinated by the
nonprofit Consumer Federation of America (CFA) and is dedicated to helping individuals save money, reduce debt, and build wealth. Twitter: @AmericaSaves URL: http://americasaves.org/
The Consumer Financial Protection Bureau is dedicated to making markets for consumer financial products and services work for Americans — whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products. Twitter: @CFPB URL: http://www.consumerfinance.gov/
+LifeDojo – “Coach Option”
For a additional price, a “coach option” is available
LifeDojo is also used for corporate wellness. This option was built primarily for corporate wellness
Note – This Financial Skills 101 is specifically for HS Students
+Modules Intro - The power of money and
class overview
The good old days
Money in the modern world
Goals, values and philanthropy
Financial planning
Introducing budgeting
Income and Careers
Saving
Banking
Credit and debt
Good and bad debt
Building credit
How to get out of debt
Investments
Retirement
Taxes
Insuring yourself
Insuring your stuff
Safety online
Building your budget
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“Get started” Program Environment
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Employee Dashboard
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+Scaffolding and Pace of Course
+Platforms
Laptops
Tablets
Smartphones (BYOD Schools)
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How to Learn Surrounded by TechEvidence Based Approaches
+Why I Know This
The Motivation iPhones, iPads, etc.
The Research
The Experience Teacher Parent (Bryce)
+“Mr. Page, why did you give a bunch of kids with A.D.D., A.D.D. devices?” – Prior student
+iPads help but…
+Technology is only a tool to help grow your….
+Students Need To Understand
How to use technology as an effective learning tool.
+Research Study #1
College students were asked to watch a 30-minute videotaped lecture. Some were sent eight text messages Others were sent four or zero text messages.
Those who were interrupted more often scored worse on a test of the lecture’s content.
Those who responded to the experimenters’ texts right away scored significantly worse than those participants who waited to reply until the lecture was over.
+Research Study #2
15 minute observation by Larry Rosen, a psychology professor at California State University–Dominguez Hills. Students’ “on-task behavior” was disrupted 2 minutes in,
mainly responding to texts or checking Facebook. They only spent 65 percent of the observation period
actually doing their schoolwork.
+Further Research
St. John’s University found through observation 58 percent of second- and third-year law students who had laptops in class were using them for “non-class purposes” more than half the time.
University of Vermont found that “students engage in substantial multitasking behavior with their laptops and have non-course-related software applications open and active about 42 percent of the time.”
Technology was a cited distraction for surrounding students.
+Multitasking is a Myth
Checking social media/text messages draw on the same mental resources demanded by schoolwork.
Under most conditions, the brain simply cannot do two complex tasks at the same time. Multitasking “can happen only when the two tasks are both
very simple and when they don’t compete with each other for the same mental resources.”
There is a “lag” when switching from one task to the other. Listening to a lecture while texting, or doing homework and
being on Facebook uses the same area of the brain (prefrontal cortex).
+Multitasking with Technology Damages the Learning Process
Dropping and picking up mental threads leads to damaged mental threads and more mistakes. Students’ subsequent memory of what they’re working on
will be impaired if their attention is divided. When we are distracted our brains process and store
information differently, in less useful ways.
Increases “decision fatigue”. More about this later…
+Transferable Skill
These distractions are also real for adults, so this is a lifelong learning lesson. Technology is a part of the 21st century labor force.
Using technology effectively and efficiently, such as an iPad, is essential in the modern world if used as an empowering tool free of distractions.
+Creative & Introspective Thinking
+Example Student Assignment
Write one rule for using technology as a learning tool, and avoiding technology as a distraction tool.
+Extra Time?
A few more tips and tricks for integrating technology into the classroom
+A Little Humor
Bill Cosby on Budgeting URL: https://www.youtube.com/watch?v=hUxttPh7_XQ
“Fires up their brains” Research has found that humor lights up more of the brain
than any other functions
+Tips and Tricks to Integrate
-Online games
OnGuardOnline – Risk management and online safety (Need flash) URL: http://www.onguardonline.gov/
Financial Football and Financial Soccer – Review for financial examination and an anchor activity (Financial Football has an app) URL:
http://www.practicalmoneyskills.com/games/trainingcamp/ff/
D2D games (Bite Club, Celebrity Calamity) – Casual games URL: http://financialentertainment.org/
+Why Game Based Learning?
According to a recent We Are Teachers survey 81% of teachers feel students are more engaged in learning
when playing games 65% cite games as an aid in developing problem solving
skills
According to Dr. Blunt who researched game based learning in business and economics courses When assessed, data analysis found classes using games
scored higher than those classes who did not.
+Tips and Tricks to Integrate
-Simulations
Gen I Revolution – Integrate with CEE’s LEI lessons (Need flash)
Hands On Banking – Online courses; quasi simulations, for kids of all ages aligned to standards and supported with lessons; ideal special education resource
Budget Challenge – Online bill paying simulation, ideal for homework
PlaySpent – Play to conclude a financial hardship lesson (need flash); ideal special education resource
+Why Simulations?
We need to make it as “REAL” for the kids as we can Rewards for wise financial choices, consequences for bad
financial choices
Students are more engaged when they are leading their learning
Teachers can identify and sprinkle in teachable moments, as opposed to the “fire hose” approach of giving information with long “sit and get” lectures
+Tips and Tricks to Integrate
-K-8 Students
Avengers – Financial literacy lessons integrated into a comic book
Centsables – A broad collection of comics, lessons, and videos
Secret Millionaires Club – A broad collection of comics, video lessons (cartoons), and games
MoneyAsYouLearn – Offers educators tools to integrate personal finance into the teaching of the Common Core SS in Math and ELA.
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Questions?Brian PageTwitter: @FinEdChat