Nội dung

Jump$tart Coalition for Personal Financial Literacy The publication of this booklet has been generously sponsored by Charles Schwab Foundation. Charles Schwab Foundation is a private, nonprofit organization funded by The Charles Schwab Corporation. The Foundation is committed to fostering financial literacy as the basis for financial well-being. National Standards in K–12 Personal Finance Education With Benchmarks, Knowledge Statements, and Glossary 3rd Edition, 2007 Take the Challenge! Something exciting is in the works for high school teachers and their students. Twice a year, high school teachers are invited to save a class period for the ongoing, National Financial Literacy Challenge. An initiative of the President’s Advisory Council on Financial Literacy, this new recognition program will use a voluntary test to determine and reward high levels of financial literacy among America’s high school students. About the National Financial Literacy Challenge The Challenge will be offered online, and will involve 35 questions on basic personal finance. It is estimated that the Challenge will take the average student 40-45 minutes to complete. In most instances, a computer lab will be required. Students scoring in the top 25th percentile of national scores will be eligible for recognition from the President’s Advisory Council on Financial Literacy. For more information If you are a high school teacher, you may sign up for the official distribution list by e-mailing flc@do.treas.gov. Be sure to include “Interest in National Financial Literacy Challenge” in your subject line. Jump$tart Coalition for Personal Financial Literacy 919 18th Street, NW, Suite 300 Washington, DC 20006-5517 Phone: 888–45 EDUCATE www.jumpstartcoalition.org Contents 1 Introduction 2 Uses for the National Standards 3 Organization of the Standards 4 The Standards 6 How the National Standards Evolved 7 The Jump$tart Coalition and Its Mission 8 Financial Responsibility and Decision Making 11 Income and Careers 13 Planning and Money Management 17 Credit and Debt 20 Risk Management and Insurance 23 Saving and Investing 27 Knowledge Statements 33 Glossary 44 Independent Reviewers Special thanks to the Federal Reserve Board and its staff for the original design and layout of this booklet. 1 Introduction The National Standards in K–12 Personal Finance Financial literacy is not an absolute state; it is a Education, created and maintained by the continuum of abilities that is subject to variables Jump$tart Coalition® for Personal Financial Lit- such as age, family, culture, and residence. eracy, delineate the personal finance knowledge Financial literacy refers to an evolving state of and skills that K–12 students should possess. competency that enables each individual to respond effectively to ever-changing personal and The Jump$tart Coalition asserts that all young economic circumstances. people graduating from our nation’s high schools should be able to take individual Because of limited experience and responsibil- responsibility for their personal economic well- ity, a typical recent high school graduate will being. Broadly speaking, a financially literate not exhibit the same degree of knowledge of high school graduate should know how to: personal finance as a financially literate older • Find, evaluate, and apply financial information adult. Financially literate high school graduates, • Set financial goals and plan to achieve them however, should have a general understanding • Develop income-earning potential and the of all key aspects of personal finance. These ability to save graduates will be confident in their ability to • Use financial services effectively find and use the information required to meet • Meet financial obligations specific personal finance challenges as they • Build and protect wealth arise. To this end, the National Standards in K–12 Personal Finance Education indicate Many organizations have defined “personal the skills students must have to increase their finance” and “financial literacy.” The follow- personal finance knowledge continually as their ing, a distillation of the views of several sources, responsibilities and opportunities change. are the definitions underlying the National Standards. The Jump$tart Coalition intends the National Standards in K–12 Personal Finance Education Personal finance describes the principles and to serve as a model. As such, the National methods that individuals use to acquire and Standards represent the framework of an ideal manage income and assets. personal finance curriculum, portions of which might not be appropriate for individual instruc- Financial literacy is the ability to use knowl- tors and students. The Coalition leaves it up to edge and skills to manage one’s financial re- various stakeholders to decide how to address sources effectively for lifetime financial security. the topics in the National Standards. 2 Uses for the National Standards The revised and updated National Standards dards and expectations to design new personal in K–12 Personal Finance Education provide a finance units or courses, or to integrate con- program design and evaluation framework for cepts into existing courses. To help accomplish school administrators, teachers, curriculum spe- this, the Jump$tart Coalition provides the fol- cialists, instructional materials developers, and lowing additional resources: educational policymakers. At each of the three Personal Finance Clearinghouse benchmark grades—4th, 8th, and 12th—the The searchable, online Jump$tart Clearing- expectations describe skills and knowledge each house (www.jumpstartclearinghouse.org) can student should exhibit, not what should be help educators identify appropriate education- taught in that grade. Individual students might al materials by several factors, including grade have missed or not remember previous lessons. level, format, and content category. In those cases, teachers can refer to earlier expectations to identify areas of instruction on which to concentrate. Among the practical uses for the personal finance standards and expectations are to: • Suggest a range of content that students should know and be able to act on • Provide guidelines for evaluating published educational materials • Help to shape lesson plans, unit and course outlines, learning activities, textbooks, and other instructional materials • Increase awareness of the need for personal finance in the nation’s schools After reviewing the 29 personal finance standards, educators may select topics that are appropriate to the needs of diverse learners in specific settings. Educators can use the stan- National Best Practices Guidelines The Jump$tart Best Practices Guidelines (www.jumpstart.org/bp.cfm) can help educators evaluate and select existing instructional materials, help organizations improve programs that they already provide, and assist designers in creating effective new personal finance curricula. The National Standards in K–12 Personal Finance Education complement state and local educational goals and standards. In states where personal finance is not yet part of the state’s K–12 educational objectives, the National Standards in K–12 Personal Finance Education can help convince policymakers to include personal finance in future state standards and student achievement tests and guide their creation. 3 Organization of the Standards The National Standards in K–12 Personal Finance in their consumer development—at grades 4, 8, Education describe the minimum requirements and 12. The expectations reflect a progression for functional financial literacy. They are orga- of student learning in which increasing com- nized as follows: plexity builds on earlier knowledge. Educators will take into account that students learn at Standards different rates because of a variety of learning The K–12 standards trace a path to a minimal styles, interests, and experiences outside the level of competency upon completion of high classroom. school. They describe what personal finance instruction should enable students to know and Knowledge Statements do. The standards fall into six major categories These statements show relationships among of personal finance—Financial Responsibility the key concepts underlying the standards and and Decision Making; Income and Careers; Plan- expectations. They provide further guidance ning and Money Management; Credit and Debt; for publishers as they develop and revise cur- Risk Management and Insurance; and Saving ricula and for educators as they select classroom and Investing. Each category focuses on an materials and plan lessons. Like the Glossary, overall competency derived from the Jump$tart the Knowledge Statements are not meant to be Coalition’s definition of financial literacy. exhaustive. Expectations Glossary The statements of expectation describe how The list of definitions is meant as an aid to students can apply knowledge to everyday understanding the Standards, Expectations, financial decisions and actions at three points and Knowledge Statements. It includes only a sampling of key terms. 4 The Standards Financial Responsibility and Decision Making Overall Competency Apply reliable information and systematic decision making to personal financial decisions. Standard 1: Take responsibility for personal financial decisions. Standard 2: Find and evaluate financial information from a variety of sources. Standard 3: Summarize major consumer protection laws. Standard 4: Make financial decisions by systematically considering alternatives and consequences. Standard 5: Develop communication strategies for discussing financial issues. Standard 6: Control personal information. Income and Careers Overall Competency Use a career plan to develop personal income potential. Standard 1: Explore career options. Standard 2: Identify sources of personal income. Standard 3: Describe factors affecting take-home pay. Planning and Money Management Overall Competency Organize personal finances and use a budget to manage cash flow. Standard 1: Develop a plan for spending and saving. Standard 2: Develop a system for keeping and using financial records. Standard 3: Describe how to use different payment methods. Standard 4: Apply consumer skills to purchase decisions. Standard 5: Consider charitable giving. Standard 6: Develop a personal financial plan. Standard 7: Examine the purpose and importance of a will. 5 Credit and Debt Overall Competency Maintain creditworthiness, borrow at favorable terms, and manage debt. Standard 1: Identify the costs and benefits of various types of credit. Standard 2: Explain the purpose of a credit record and identify borrowers’ credit report rights. Standard 3: Describe ways to avoid or correct debt problems. Standard 4: Summarize major consumer credit laws. Risk Management and Insurance Overall Competency Use appropriate and cost-effective risk management strategies. Standard 1: Identify common types of risks and basic risk management methods. Standard 2: Explain the purpose and importance of property and liability insurance protection. Standard 3: Explain the purpose and importance of health, disability, and life insurance protection. Saving and Investing Overall Competency Implement a diversified investment strategy that is compatible with personal goals. Standard 1: Discuss how saving contributes to financial well-being. Standard 2: Explain how investing builds wealth and helps meet financial goals. Standard 3: Evaluate investment alternatives. Standard 4: Describe how to buy and sell investments. Standard 5: Explain how taxes affect the rate of return on investments. Standard 6: Investigate how agencies that regulate financial markets protect investors. 6 How the National Standards Evolved In 1998, the Jump$tart Coalition for Personal Financial Literacy issued its first Personal Finance • Nancy Lang, Northern Kentucky University, Highland Heights, Kentucky Guidelines and Benchmarks. A group of 20 • Jacqueline Ward, Wisconsin Women’s Business professionals representing a broad range of Initiative Corporation, Milwaukee, Wisconsin education, government, and financial service organizations developed these original guidelines. Before and after the 2006 task force completed major revisions, a select group (identified on In 2001, and again in 2006, the Jump$tart page 44) of business and finance industry pro- Coalition board authorized the formation of fessionals and educators—which included class- a task force to revise and update the National room teachers representing business education, Standards in K–12 Personal Finance Education. family and consumer science, and economics in Members of the 2006 standards revision task the social studies—reviewed the standards for force included: academic integrity, as well as practical applica- • Rosella Bannister, Jump$tart Personal Finance tions. Reviewers’ suggestions led to substantial Clearinghouse, Ann Arbor, Michigan improvements. • Les Dlabay, Lake Forest College, Lake Forest, Illinois • Vickie Hampton, Texas Tech University, Lubbock, Texas • Philip Heckman, Credit Union National Association, Madison, Wisconsin (Committee Chair) • Claudia Kerbel, University of Rhode Island, Kingston, Rhode Island Identifying standards and expectations is not an easy task, nor is it ever completely finished. The Jump$tart Coalition for Personal Financial Literacy considers this to be a living document, one that it will continue to modify and expand to meet the changing needs of personal finance teachers and students.