Renascence School Education News - private school

Friday, January 16, 2015

Financial Education: The American Education System is Failing Our Students

The Huffington Post – Chris Mettler

“The proliferation of credit cards is relatively new, with plastic only becoming widely used around the 1950s. The dramatic shift to easily accessible money via credit cards has changed the way we wield our purchasing power and manage our money. Unfortunately, our education standards haven’t kept up with these changes. We are not providing America’s youth with the education they need to responsibly manage their finances and credit. America needs thorough and effective financial literacy education in its school system. Without an inclusive and modern financial education, young Americans are being put at risk, making poor financial choices that will have a direct and lasting impact on their future financial health.”(more)

Tuesday, January 13, 2015

Parents hold the key to children who are on the money

The Guardian – Rohan Boyle

“Shopping has never been so easy. The ubiquity of smart phones and tablets, and the boom in online retailing, has ramped up pressure on everyone to consume. As children are particularly vulnerable to such influences, parents and carers face the challenge of ensuring they impart the right knowledge and experience to help them avoid the biggest pitfalls. The Money Advice Service, a UK government-backed initiative, urges parents not to underestimate the effect their own good (and bad) money habits have on their children. In 2013, it published a report by two Cambridge academics (pdf) who concluded that adult money habits are set by the age of seven.”(more)

Thursday, January 8, 2015

Failure To Follow Up: The Sad Truth About Millennial Financial Literacy

Forbes – Robert Farrington

“…why, as millennials, do we fail to follow up with our money and financial life? It’s a growing trend that is harming millennial financial health. Millennials, as a generation, have a larger delinquency rate on their bills compared to all other ages…Why are millennials (or anyone really) late on their bills? It’s a lack of follow up and understanding of financial organization. Many young adults expect everything to just happen…As a society, we need to improve financial literacy among millennials, but it’s a challenge…We need to reach millennials financially in ways they understand – by teaching them about apps that could help manage all of their accounts in once place, and showing them how to setup online bill pay…All of that is possible with a little financial education about the tools needed for financial organization. Then, they won’t have to follow up…as much.”(more)

Thursday, December 11, 2014

What Students Don’t Know About Their Loans

The New York Times – David Leonhardt

“Student debt is a vexing issue, because it’s a legitimate problem, but not the problem that many people assume…The real problem are people who tend to have less debt – say $10,000 or $20,000 – but who never graduate from college or who earn a degree or certificate with relatively little value…They don’t realize that the medical assistant certificate program in which they’re enrolling won’t do much for their job prospects…Compounding the problem, they also tend to underestimate how much debt they will take on…they do not have a firm grip on their financial situations…”(more)

Wednesday, December 10, 2014

White House promotes public-private plan to pump $1 billion into preschool

The Washington Post – Lyndsey Layton

“The Obama administration today announced a public-private partnership designed to pump $1 billion into public preschool programs around the country. At a White House summit on preschool education Wednesday, Education Secretary Arne Duncan announced his agency is awarding $250 million to 18 states to either create or expand existing preschool programs.”(more)

Friday, December 5, 2014

Gift giving teaches children about finances

Herald-Mail Media – ALICIA NOTARIANNI

“Black Friday. Cyber Monday. Shopping clearance sales throughout the year. Most adults have settled at some point into their own holiday shopping style. But what about children? What sorts of ideas, values and skills should adults be conveying to young people as they begin to shop for gifts?…the same principles that apply to adults apply to children…only way to make changes in any financial situation is to decrease expenses or to increase income. As a young child, you are not going to get a part-time job to increase your income, as an adult might. Your income is most likely going to be fixed. So the only way to stay within budget is to limit expenses.”(more)

Thursday, November 27, 2014

5 Money Habits Any Smart Parent Will Teach Their Kids

Business Insider – Thomas C. Corley

“Parents who mentor their kids by teaching them good daily success habits set their kids up to achieve far more than 95% of their peers, and go on to achieve great success in life…I uncovered certain money habits that the wealthy learned from their parents as children:”(more)

Friday, November 14, 2014

School clubs teaching children how to manage their money [Video]

BBC News – Caroline Wyatt

“Children as young as four could have the chance to join savings clubs in an attempt to prevent them getting into debt later in life. The Church of England is proposing a network of clubs, run by credit unions, in primary schools to help raise children’s financial awareness.” (more)

Thursday, November 13, 2014

How These Entrepreneurs Found a Catchy Way to Teach Students Financial Literacy

Forbes – Laura Entis

“A catchy beat raps out the tragic tale of Melvin, a young man who decides to finance a pricy pair of Super Bowl seats for himself and his girlfriend, Vanessa, with a credit card…The song — direct, clear and insanely catchy — is part of publishing company Flocabulary’s new 12-unit course aimed at teaching students grades sixth through 12 financial literacy.” (more)

Friday, November 7, 2014

S’mores or sums? Next year, send your kids to financial literacy camp

CNBC – Stacy Francis

“Teaching your kids concepts such as saving early and often, the importance of budgeting and investing and how to avoid debt are vital to financial success…personal finance camps are becoming increasingly popular…We all want a brighter future for our children, and studies have shown that financial well-being is linked to psychological and physical health…” (more)