Financial Fitness for Life - EconEdLink

GRADES

PARENT GUIDE

The mission of the Council for Economic Education is two-fold: To advocate for better

and greater school-based economic and personal finance education at the K-12 level;

and to educate young people in the United States and around the world, primarily

through well-prepared teachers, so they may become empowered with

economic and financial literacy.

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122 East 42nd Street, Suite 2600

New York, NY 10168

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800.338.1192

Fax: 212.730.1793





Grades 6-12

Teaching Opportunity

SECOND

EDITION

PARENT

GUIDE

Financial Fitness for Life?

Mission Statement

6-12

Financial Fitness

for Life?

Personal Finance Activities for Parents and Students

Teaching Opportunity

Teaching Opportunity ?

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Financial Fitness for Life

?

Parent Guide

Grades 6-12

Pamela Whalley

Author, Second Edition

Barbara Flowers

Sheryl Szot Gallaher

John S. Morton

Mark C. Schug

Authors, First Edition

Teaching Opportunity

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AUTHOR, SECOND EDITION:

Pamela Whalley

President, Washington Council for Economic and Financial Education

Director, Center for Economic and Financial Education, Western Washington University

AUTHORS, FIRST EDITION:

Barbara Flowers

Senior Economic Education Specialist

Federal Reserve Bank of St. Louis

Sheryl Szot Gallaher

Director

Governors State University, Office of Economic Education

John S. Morton

Senior Program Officer

Arizona Council on Economic Education

Mark C. Schug

Professor Emeritus

University of Wisconsin, Milwaukee

PROJECT DIRECTOR:

Richard A. MacDonald

Senior Advisor for Program Development

Council for Economic Education

and

Assistant Professor of Economics

St. Cloud State University

PROJECT COORDINATORS:

Christopher Caltabiano

Vice President for Program Administration

Council for Economic Education

Irina Piven

Senior Program Associate

Council for Economic Education

EDITOR:

Richard Western

DESIGN AND LAYOUT:

Jill O¡¯Leske

Impact Design, LLC

This publication was made possible through funding by the Bank of America Charitable Foundation.

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Copyright ? 2011 by the Council for Economic Education, 122 East 42nd Street, Suite 2600, New York, NY 10168. All rights

reserved. No part of this book may be reproduced in any form or by any means without written permission of the publisher.

Printed in the United States of America.

ISBN 1-56183-699-4

54321

GRADES

6-12

Acknowledgments

AUTHOR SUPPORT TEAM:

Don Ide

Lynnwood High School

Bothell, WA

Michael Shannon

Forster High School

Tukwila, WA

Betty Beier

Sequoyah Middle School

Auburn, WA

CONTENT REVIEWERS:

Kris Bertelsen

St. Charles High School

St. Charles, MN

Nathan Eric Hampton

St. Cloud State University

St. Cloud, MN

Scott Wolla

Federal Reserve Bank of St. Louis

St. Louis, MO

FINANCIAL FITNESS FOR LIFE: Parent Guide Grades 6-12



?Council for Economic Education

iii

GRADES

6-8

Table of Contents

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vi

Parent Guide Grades 6-8

A Letter to Parents, Friends, and Family Members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

Theme 1: The Economic Way of Thinking

Background Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Worksheet Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Family Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Literature and Links . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2

4

7

8

Theme 2: Earning Income

Background Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Worksheet Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

Family Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Literature and Links . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

Theme 3: Money Management

Background Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Worksheet Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Family Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Literature and Links . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

19

21

23

24

Theme 4: Saving

Background Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Worksheet Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Family Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Literature and Links . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

25

29

31

32

Theme 5: Spending and Using Credit

Background Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Worksheet Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Family Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Literature and Links . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

33

36

38

39

Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

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FINANCIAL FITNESS FOR LIFE: Parent Guide Grades 6-12



?Council for Economic Education

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