Tuesday, May 26, 2009

Lose to Win: Financial Education

I recently had a coworker forward me a link to a website that they thought I might enjoy. Upon arriving to the site, I noticed that it was a challenge, similar to the show The Biggest Loser. However, instead of shedding pounds and gaining muscle, these contestants are competing to lose debt and gain wealth.

There are four teams competing: the Hall Family, the Ridings Family, the Smith Family, and the Willis Family, all competing to win $10,000! This website allows you to learn more about the families, follow their blogs throughout the challenge, and learn about how YOU can lose debt and gain wealth. Click here to view the website.


Resources:
http://www.losetowinfe.com/

Thursday, May 14, 2009

“UN-BROKE: WHAT YOU NEED TO KNOW ABOUT MONEY”

Schools teach us almost everything, but not "Money 101." For the basics on finance, turn to "UN-BROKE: What You Need to Know About Money." It's an unconventional look at the fundamentals of everyday finance with all the facts about credit cards, mortgages, stocks and bonds, investing and 401(k)'s, in a fresh new format combining information and humor. The one-hour special airs FRIDAY, MAY 29 (9:00-10:00 p.m., ET) on the ABC Television Network.

Hosted by "Good Morning America" contributor and President of Ariel Investments Mellody Hobson, the special features Will Smith, Samuel L. Jackson, the Jonas Brothers, Christian Slater, Cedric the Entertainer, Seth Green, Sesame Workshop's Oscar the Grouch, Rosario Dawson and the E*Trade Babies, among others. Hobson said: "Financial education is critically important, and 'UN-BROKE' proves that it doesn't have to be boring. The economic crisis was a harsh wake-up call that we can't keep doing the same thing in the same way. To me, that meant taking a fresh look at my own approach to financial education. This will make people laugh while they learn."
The special's take on basic money sense includes:
  • Will Smith, who gets down to basics with a boardroom full of corporate finance executives.
  • Samuel L. Jackson, who appears as a bestselling author of self-help books and who is "Broke as Hell and Not Going to Take it Anymore!"
  • The Jonas Brothers, who teach screaming teenage girls the mysteries of the stock market.
  • Seth Green, who explains the fundamentals of a smart mortgage from his "crib."
  • Cedric the Entertainer, who talks back to credit cards.
  • Christian Slater and Rosario Dawson, who visit an office workplace to explain the importance of investing in a 401(k) retirement plan.
  • The E*Trade Babies, who meet Mellody for an online chat from their high chairs.
"UN-BROKE: What You Need to Know about Money" is a co-production of Lincoln Square Productions and Overbrook Entertainment. The executive producers are Mellody Hobson and Rudy Bednar. A TV parental guideline will be posted closer to airdate.

Found on http://abcmedianet.com/web/dnr/dispDNR.aspx?id=051209_05

Tuesday, May 12, 2009

The Games of Money

While out in the classrooms, teachers are constantly asking how they can enhance their money lessons with a more authentic experience. I tell them simulations, role-playing and games. Games are a fun and easy way to not only express the financial concepts, but a way for the students to act out what it is they are learning about. It's easy to read about paying bills, or take notes on credit cards, but one can only fully understand it once they have experienced it. Here is a list of great games (board games and online games) that can help enhance your lessons on money and achieve the desired levels of comprehension.

Monopoly- Students can buy and sell properties, and collect rent. Monopoly is a great money game for kids learning how to count money and make tough financial decisions. You can either play the classic Monopoly with paper money or the new Monopoly with Electronic Banking. I recommend both!

Life- Students make decisions about money, careers and other life decisions. The decisions made, affect the income received and how money is spent.

Moneywise Kids- Two different games are included in Moneywise Kids, one for making change and the other for budgeting money. Players must account for food, clothing, and housing in the play option focused on money management.

Payday- Students learn how to manage a paycheck, pay bills and still try to have money left over to save and spend!

Online sites with money games:
Piggy Bank-students learn about coin denominations and how to make change
Change Maker- students learn how to make change by doing addition and subtraction
Money Flash Cards- students learn how to add money
H.I.P. Pocket Change- US Mint website with several games and lessons for students on money
It's My Life- students learn how to budget for a month with a set amount of money

Resources:
http://kidmoney.about.com/od/teachingchildren/tp/6-Money-Games-for-Kids.htm
http://www.kidsmoneystore.com/bdgame.htm