 “Today’s financial world is highly complex when compared
with that of a generation ago. Forty years ago, a simple
understanding of how to maintain a checking and savings
account at local banks and savings institutions may have been
sufficient. Now, consumers must be able to differentiate
between a wide range of financial products and services, and
providers of those products and services. Previous, lessindebted generations may not have needed a comprehensive
understanding of such aspects of credit as the impact of
compounding interest and the implications of mismanaging
credit accounts.
Allen Greenspan
 We have all asked ourselves these questions at one
point in our lives.
 Can I afford a mortgage?
 What pension should I choose?
 Will it be enough for retirement?
 What if I loose my job?
 How can I reduce my debts?
 As the U.S. economy emerges from the global recession,
more than ever our young consumers need to
understand the necessity of having a realistic budget
and non-retirement savings in case of job loss in
addition to their retirement savings. Beginning early is
the key to success.
 TCEE
has long supported the teaching of
economics and financial literacy in the social
studies, career/technical, language arts, science
and math classes from kindergarten through
grade 12.
 TCEE offers staff development opportunities and
hands-on student activities through the Stock
Market Game™, the Economics Challenge, and
now the Personal Financial Literacy (PFL)
Challenge.
 While TCEE supports the teaching of economic and
financial literacy principles at the high school level,
students have already established spending practices
that may not be healthy to their pocket books and will
be difficult to correct and change as adults. The causes
of and slow recovery from the recent recession indicate
that our students need to spend smarter if they are
going to reduce their dependency on credit to spend
beyond their means.
 An important goal of Smarter Texas is to
encourage healthier spending so that
students can save for college or technical
school and to have the financial resources
needed for important and/or emergency
purchases. Smarter spending means smarter
saving for smarter financial health now and
in the future.
 Smarter Texas means introducing financial literacy
concepts and skills at the elementary level, reinforcing
and increasing understanding and practice in middle
school, and enhancing knowledge and skills in high
school. Smarter Texas launches a healthier financial
tomorrow for Texas and the U. S. one teacher, student,
classroom and school at a time.
 Lets see what you know.
 Areas of Instruction:
 A. understanding interest, avoiding and eliminating credit card debt
B. understanding the rights and responsibilities of renting or buying a home
C. managing money to make the transition from renting a home to home
ownership
D. starting a small business
E. being a prudent investor in the stock market and using other investment
options
F. beginning a savings program and planning for retirement
G. bankruptcy
H. the types of bank accounts available to consumers and the benefits of
maintaining a bank
account
I. balancing a check book
J. the types of loans available to consumers and becoming a low-risk borrower
K. understanding insurance
L. charitable giving
 Hands on Banking by Wells Fargo
 Financing Your Future by Citi Foundation
 Financial Fitness for Life by Bank of America
Foundation
Hands on Banking includes free, downloadable Instructor Guides
designed to provide everything you’ll need to guide participants through
real-life scenarios, group discussions, and valuable activities.
The lessons for school-aged children are aligned with national and state
educational standards for economics, financial literacy, mathematics, and
English language arts, making it easy to integrate the Hands on Banking
program into the classroom.
The Hands on Banking program is available in English or Spanish and offers
many benefits, such as:
•Free, 24/7 access to online financial courses that are self-paced
•Free instructor guides with multiple activities and handouts
•Courses and guides available online and CD-ROM
•School-age lessons aligned with national and state standards for mathematics,
English language arts, financial literacy, and economics
•Easy classroom integration
•No commercials or endorsements
•Available in Spanish and English
The Hands on Banking program provides the essentials of financial
education, real-world skills, and knowledge every student can use, including
how to:
•Identify "needs" vs. "wants“
•Plan early for the future
•Earn more money by learning more skills
•Build their own budget to control their money
•Become an entrepreneur by starting their own business venture
•Control spending with a spending plan
•Build credit wisely and avoid debt
•Invest in higher education and find the money to pay for it
Activity 1
Use the six squares depicting the cycle of money to match with the correct situation
Money has value, and individuals can make choices about how, when and where
to spend their money to receive the most in return. Open a discussion using the
following points.
Use the example to find the best solution
Use the example to find the best solution
Financial Fitness for Life®(FFFL) is a comprehensive personal finance curriculum
for K-12 students that teaches students how to make thoughtful, well-informed
decisions about important aspects of personal finance, such as earning income,
spending, saving, borrowing, investing, and managing money.
Economic concepts form the foundation of all lessons, providing students with a
decision-making framework for the real world. Content is based on national
standards, and correlates to standards in economics, personal finance,
mathematics, and language arts. With engaging, hands-on instructional
activities, FFFL materials engage students of all ages in active learning.
Lesson 2
 Remember: Take a practical approach to dealing
with the key financial decisions – such as saving,
borrowing, pensions, long-term planning – with an
understanding of the broader economy and how you
fit into it. So you can understand not just how interest
rates go up and down, and why.
 Recent global economic events have brought the issue
of Personal Financial Literacy to our doorsteps.
 How can help prevent this economic calamity from
happening again? Where should our emphasis be in the
classroom and out?