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Financial Literacy Findings and
Resources
Digital
Promise: 2020
Financial Literacy is a key component of
improving the financial capability of students and the community
Currently, 45 states include personal
finance in their K-12 education standards. Moreover, 38 states require
implementation of the standards and 24 states require that high schools offer
personal finance courses. Yet American students are behind the curve in
financial literacy compared to their peers around the world. One in five
American students fail to meet the level to be considered financially literate
(compared to one in 10 Chinese or Russian students), and America as a whole is
not even among the top 10 financially literate countries. At the same time,
most teachers self-report limited competence to teach personal finance topics.
The greatest area of growth in financial
literacy competence is among teachers who do not primarily teach personal
finance, but who face the challenge of integrating personal finance topics into
other areas of instruction. By providing teachers access to tools powered by
digital technologies for both getting up to speed in financial matters and
gaining recognition for competency in personal finance instruction, educators’
motivation, confidence, and competence to teach personal finance will improve.
With support from
PricewaterhouseCooopers, Digital Promise partnered with the Global Financial Literacy Excellence Center
(GFLEC) at The George Washington University to develop 20 financial literacy
micro-credentials to help bridge the gap between students’ need for personal
finance education and teachers’ need for professional resources on the topic.
Each financial literacy micro-credential includes methodologies and resources
to help teachers cover content that high school students can directly apply to
their own lives.
Resources
Project Method and Findings
Lesson Resources
Sample Mircro-credentials
[ some free; a few paid ]
Activating Prior Knowledge about
Insurance
The educator values students’ previous
experiences and uses an anticipation guide to activate students’ prior
knowledge about insurance at the beginning of the lesson.
Budgeting with Simulations
The educator understands the benefits of
active learning and chooses or creates a simulation to engage students in
real-world financial decisions in order to communicate the importance of
budgeting.
Calculating Compound Interest: I Do, We
Do, You Do
Educator incorporates the calculation of
compound interest into their instruction using a gradual release model
Applied Learning: Simple Saving
Strategies
The educator utilizes an applied learning
strategy that enables students to develop the habit of saving. READ
MORE ➤➤
Based
on (7) readability formulas:
Grade Level: 20
Reading Level: very difficult to read.
Reader's Age: College graduate
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