Financial Literacy and Gender

[Community Development Banking List]

Original message from: sharshar25be@yahoo.com

Hi,

I'm looking to compile/review any studies that have been done on financial literacy and gender. Any help/direction from the community would be helpful.

Thanks,
Sharlene

[Community Development Banking List]

Original message from: lynn_roque_alley@freddiemac.com

Freddie Mac, 2007: http://www.freddiemac.com/creditsmart/
Read key research findings on financial and credit needs for women.

Prudential Financial conducted two studies on financial experience and
behaviors among women.

Consumer Federation of America conducted a study on subprime loans' impact
on women in 2006.

Harris Interactive apparently did a study on women's awareness of credit
per the article below:
http://www.walletpop.com/blog/2010/0...esearch-shows/






Sharlene Brown <sharshar25be@yahoo.com>
Sent by: bounce-6103792-8633839@list.cornell.edu
07/13/2010 04:31 PM
Please respond to
Sharlene Brown <sharshar25be@yahoo.com>


To
communitydevelopmentbanking-l@cornell.edu
cc

Subject
Financial Literacy and Gender







Hi,

I'm looking to compile/review any studies that have been done on financial
literacy and gender. Any help/direction from the community would be
helpful.

Thanks,
Sharlene
CDB list instructions http://www.runonthebank.net/cdblist.htm

[Community Development Banking List]

Original message from: lpollack@financiallit.org

Hello,

*

I would like to make you all aware of the Excellence in Financial Literacy Education (EIFLE) Awards. The EIFLE was created by the Institute for Financial Literacy (www.financiallit.org), to acknowledge the innovation, dedication and the commitment of those that support financial literacy education. Categories honored include Books of the Year, Curricula of the Year, Educator of the Year, Organization of the Year,Game of the Year and Published Research. Although we are rapidly approaching the deadline for submissions, I am happy to offer an extension to any of you who may be interested.

*

The Awards will be given out at the Annual Conference on Financial Education (www.acfeonline.org), which is being held this year at the Hyatt Regency in Boston, October 6th-8th. The Conference provides professional development opportunities for individuals who work with financial literacy education. In addition to being a critical networking event for financial educators, the Conference offers attendees the opportunity to learn about current trends, develop funding strategies and advance the cause of financial education

*

I would also like to mention that certification for those teaching financial literacy is integral to the success of those involved. To that end, the Center for Financial Certifications (www.fincert.org) administers the Certified Educator in Personal Finance® (CEPF®), a self study program developed for those teaching others about personal finance.

*

Please feel free to contact me with questions regarding the EIFLE, the Annual Conference, or certification.

*

Sincerely,

*

Lori Pollack

Director of Certifications

207-221-3615

*

*


From: jliotti@norcaludc.org [mailto:bounce-6112035-12712214@list.cornell.edu] On Behalf Of JOHN LIOTTI
Sent: Friday, July 16, 2010 2:08 PM
To: Peter Rose
Cc: 'Coronado, Adela G.'; Sulie Richardson; Nicole Ridley; communitydevelopmentbanking-l@cornell.edu
Subject: Re: Comprehensive Financial Literacy Education for the entire family


*

Hi All,*

*


A little shameless promotion. We are in the final phases of publishing our curriculum called FutureProfits. It is a joint venture with the national community development association, Christian Community Development Association (www.ccda.org). The curriculum is geared toward under-resources and immigrant teens and takes a more wholistic view of the subject. We are currently using it in local junior high and high schools serving about 500 students per week during the school year. We had not intended to publish, but we have found it an invaluable resource. The curriculum uses a cutting edge approach and incorporates games, videos and practical examples.*


*


It will be available in September through the CCDA website at www.ccda.org and at major online resellers. Additionally we have found it an invaluable resources to teach adult financial literacy with a few tweaks.*


*


Here is a brief overview:*


*


The FutureProfits curriculum blends essential life skills along with traditional financial literacy subjects, such as budgeting and banking, and also gives an in-depth look at topics including:
* ·***** Understanding predatory lending schemes
* ** * * How money circulates in urban communities
* ** * * Race, class, and power structures in our society
* ** * * How goal setting and decisions affect your future
* ** * * The benefits of delayed vs. instant gratification
This holistic approach to financial literacy, called Life Economics, is built to give students the tools to succeed in an economic system that a significant portion of youth is unprepared to navigate. FutureProfits empowers students with the tools to break the chains of poverty, giving them the resources to determine their destiny and impact their community.

*

NCUD and CCDA are *honored to offer this new resource to our colleagues across the nation.*

*


Regards,*


*


- John


*


*



*






John Liotti


CEO / President


*


Northern California Urban Development


1836 Bay Rd. Ste. B
East Palo Alto, CA 94303

650-328-1890 x107 (ph)
650-328-1854 (fax)

jliotti@norcaludc.org
http://www.norcaludc.org*



This email and any attachments are the property of*Northern California Urban Development Corp.* It is intended only for the person or entity to which it is addressed and may contain information which is confidential.* Distribution or copying of this email or the information contained herein by anyone other than the intended recipient is prohibited.* If you have received this email in error, please immediately notify the sender by email at info@norcaludc.org and telephone at 650-328-1890 and please delete and destroy any copies of this email and its attachments, if any.




*













*

On Jul 16, 2010, at 6:01 AM, Peter Rose wrote:






All,

I've said this before, and received both flak and praise, but I'm willing to repeat myself because it is important to me.

*

As the overwhelming response to a request for financial education curriculum points out, there is no lack of excellent, comprehensive financial education packages out there.* BOOF, MoneySmart, Hands on Banking, etc. are all brilliant training packages.* However, financial education delivered alone makes no difference in financial behavior of customers/participants.*(Okay, maybe very little for some and none for most.) *Without a*long-term (6-12 months at least), systematic, behavior-change based "financial*fitness"*program with credit building finance attached, you will have no impact on individuals being able to get and stay banked, create and use a budget, make good financial decisions*and climb out from under*their mountain of debt.* Competent information isn't what's missing, any more than more and better information will help you or I change our diet, floss everyday*or exercise more.* Human beings don't work that way.* It may make things worse.**High school youth taught financial education classes did worse than those that received NO financial education!

*

If you can point me to a study that financial education itself, in and of itself, lead to any long-term, objective change in financial behavior, I'd love to see it.* Opening bank accounts at education sessions or saying that they feel more confident about making a budget doesn't really count.*

*

I guess why this sets me off is that those of us who have been working at this (asset-building with IDAs, microbusiness development, etc.) for awhile know this, yet there are still millions of dollars being spent by the banks, corporations, FDIC and foundations to support financial education.* It's become a cottage industry almost.* Just financial education.* Which does not work.* It's easy, sounds good and everyone feels good about it, but in the long run it will not help our customers get to where they want to be financially -- for the long term.* Am I wrong?* Who's first?

Peter W. Rose, Managing Director
Isles Community Enterprises
714 S. Clinton Ave
Trenton, NJ 08611-1916
ph: 609.341.4731
fx: 609.278.6463
www.isles.org

isles
Fostering Self-Reliant Families in Healthy Sustainable Communities

Confidentiality Notice: The electronic mail and/or documents accompanying this transmission contain confidential information belonging to the sender, which is legally privileged. The information is intended only for the individual(s) or entity named above. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution or taking of any action in reliance on the contents of this information is strictly prohibited. If you have received this transmission in error, please immediately notify me by email or telephone and delete the material from all computers. Thank you.*






From: bounce-6109302-5852826@list.cornell.edu [mailto:bounce-6109302-5852826@list.cornell.edu] On Behalf Of Coronado, Adela G.
Sent: Thursday, July 15, 2010 12:27 PM
To: Sulie Richardson; Nicole Ridley; communitydevelopmentbanking-l@cornell.edu
Subject: RE: Comprehensive Financial Literacy Education for the entire family

My name is Adela Coronado, Community Affairs Specialist with the Federal Deposit Insurance Corporation in the San Francisco Regional Office.

*

I took the liberty to include with this message information from our website to highlight the Money Smart features. **Please feel free to contact me at (415) 808-8106, if you would like to learn more about it, or you could visit our website to learn who the contacts are in your geographic area http://www.fdic.gov/consumers/consum...mart/cao.html. **

*

The FDIC offers Money Smart, a free comprehensive financial education curriculum designed to help individuals outside the financial mainstream develop financial skills and positive banking relationships, and it does not endorse any specific product or financial institution. *Additionally, the program has no copyright so it could be modified to suit your needs. We just ask that if it is significantly modified, then the FDIC logo needs to be removed.

*

In the instructor-led formats, Money Smart is available in English, Spanish, and several other languages and well as in a version for 7th graders to college freshmen entitled Money Smart for Young Adults. Having gained the experience provided in a train-the-trainer workshop, an individual would have a good foundation to begin teaching either the adult or young adult instructor-led curriculum.* There is no accreditation or licensing requirement to teach Money Smart.

Money Smart for Adults is available in two versions: an instructor-led version and a computer-based instruction (CBI) version. Both versions consist of the same 10 modules.

The instructor-led version of Money Smart is for those who plan to teach financial education to others in English, Spanish, Chinese, Hmong, Korean, Vietnamese, or Russian. A version for the visually impaired is also available.

Each of the 10 modules is structured in an identical manner and includes:
* A comprehensive, fully scripted guide for instructors. The guide includes everything necessary to start teaching the program, including easy to follow cues, script, and interactive class exercises.
* Overheads, in Word and PowerPoint format.
* Take-home guide for participants.
Each module takes between 1-2 hours of classroom time to teach. The modules may be taught in any order or combination.

The CBI version enables individuals to complete Money Smart at their own pace on a computer in English or Spanish. The CBI is available online or can be ordered on CD-ROM.

The FDIC provides the Money Smart curriculum to interested parties free of charge. A limited number of copies are available to each party; however, the materials are easily reproduced and have no copyright restrictions.

FDIC staff is available to provide technical assistance and to help facilitate partnerships among interested parties.

The FDIC Money Smart curriculum has been revised and improved since its original release: read more about the revised curriculum.

The 10 Money Smart Training Modules

Bank on It
an introduction to bank services

Borrowing Basics
an introduction to credit

Check It Out
how to choose and keep a checking account

Money Matters
how to keep track of your money

Pay Yourself First
why you should save, save, save

Keep It Safe
your rights as a consumer

To Your Credit
how your credit history will affect your credit future

Charge It Right
how to make a credit card work for you

Loan To Own
know what you're borrowing before you buy

Your Own Home
what home ownership is all about

*

*

http://www.fdic.gov/consumers/consum...art/index.html

*

Money Smart for Young Adults

The FDIC’s Money Smart for Young Adults curriculum helps youth ages 12-20 learn the basics of handling their money and finances, including how to create positive relationships with financial institutions. Equipping young people in their formative years with the basics of financial education can give them the knowledge, skills, and confidence they need to manage their finances once they enter the real world.

Money Smart for Young Adults consists of eight instructor-led modules. Each module includes a fully scripted instructor guide, participant guide, and overhead slides. The materials also include an optional computer-based scenario that allows students to complete realistic exercises based on each module. The curriculum is distributed on CD: click here to order it.

Money Smart for Young Adults is:
* Free;
* Aligned with educational standards for all 50 states, the District of Columbia, Guam and the Virgin Islands, as well as Jump$tart financial education standards and National Council on Economic Education economic education standards;
* Based on the award-winning Money Smart adult financial education curriculum that can bring proven results in the money management practices and financial confidence of graduates;
* Offers a completely customizable curriculum comprised of modules that can be taught on a stand-alone basis;
* Not protected by copyright restrictions; and
* A source of unbiased information that is not “branded” with corporate logos or otherwise affiliated with any commercial interest.
Modules range from 90-110 minutes if taught in their entirety. However, the content is layered so that it can be taught in two (or more parts). To help an instructor tailor the modules to the needs of the audience, the front of each module includes a matrix or Layering Table to delineate the module’s components. The matrix will assist an instructor in presenting material responsive to the needs of your target audience within the available time frame.

A description of each of the eight modules follows:

Bank on It
an introduction to bank services

Check It Out
how to choose and keep a checking account

Setting Financial Goals
Money Management

Pay Yourself First
why you should save, save, save

*

Borrowing Basics
an introduction to credit

Charge It Right
how to make a credit card work for you

Paying for College and Cars
Installment Loans (i.e. car and student)

A Roof Over Your Head
informed decisions on apartments and mortgages

*

Potential Uses of Money Smart for Young Adults
The curriculum can be used by individuals who are seasoned, professional educators as well as informal educators (such as bank staff visiting a classroom). As with the adult curriculum, the materials are fully scripted so someone can pick up the instructor guides and begin teaching without having previous teaching experience or extensive subject matter expertise. In short, any instructor can easily pull quality, objective, instructor-led content from Money Smart for Young Adults to integrate into a class on subjects ranging from math or English. Uses for Money Smart for Young Adults include as:
* Part of a required course;
* Optional material for visiting/guest teachers;
* A supplement to material in finance, economics, social studies, math, or business courses;
* An after-school elective;
* A school group or club project; or as
* A workshop offered by organizations serving youth.
Additional Information on the Computer-Based Scenarios
An optional computer-based interactive scenario is available for each module. Each of the scenarios takes the students through financial decisions that face young adults. As students complete each scenario, they are evaluating current knowledge or knowledge learned through the instructional materials and classroom activities. There are no right or wrong answers; students choose the best answer and then see how that decision has affected the characters' financial status. Each scenario takes approximately 10 minutes to complete. The files for the scenarios are included on the instructor-led CD for teachers to download to a network drive or to individual classroom computers.

Need for Youth Financial Education
Financial education enables young people to start positive habits early such as saving money and budgeting, as well as avoid making “wrong” decisions that could result in years of financial pain, such as incurring an unmanageable level of credit card debt. Demand has grown for a version of Money Smart to combat the lack of financial literacy skills among youth. Surveys indicate that a minority of surveyed teens understand how credit card interest and fees work, how to balance a checkbook, or know how to check the accuracy of a bank statement. Additionally, studies indicate that a sizeable majority of college students have at least one credit card, as well as have incurred several thousand dollars in credit card debt while in school. Fortunately, an opportunity exists to deliver critical information to a largely receptive audience, as a recent survey indicated that a large majority of surveyed teens are eager to learn more about how to manage and handle their money.

The curriculum is distributed on CD: click here to order it.

For questions or comments about the content or operation of the Money Smart for Young Adults CDs, please email communityaffairs@fdic.gov . For information on using the curriculum in your community, please contact your FDIC Community Affairs Officer.

Additionally, there is a Money Smart Podcast Network (MP3)

The Money Smart Podcast Network is the portable audio (MP3) version of Money Smart and designed to accommodate financial learning for individuals “on the go.” There are no required prerequisites for the audio version. With verbal descriptions and topic based scenarios, the audio version utilizes detailed dialogue to deliver basic financial information. The segments are short and tailored for easy listening. These segments are grouped into four general categories.
* General
* Checking & Savings
* Budget & Savings
* Credit
The audio files are designed to work with virtually all audio (MP3) players. The following link allows you to access the Money Smart Podcast Network online.

Enter Portable Audio Version Online (hosted by RackSpace.com)

If your computer does not meet the minimum requirements or you have difficulty accessing the online web version, you may Order the Portable Audio (MP3) Version of Money Smart on CD-ROM.

The “For Instructors” page of the Money Smart Podcast Network can be accessed and used as a resource in combination with instructor-led classes.

*

*

*

*

*


From: bounce-6108638-11712583@list.cornell.edu [mailto:bounce-6108638-11712583@list.cornell.edu] On Behalf Of Sulie Richardson
Sent: Thursday, July 15, 2010 8:22 AM
To: 'Nicole Ridley'; communitydevelopmentbanking-l@cornell.edu
Subject: RE: Comprehensive Financial Literacy Education for the entire family


*

Wells Fargo has a Hands on Banking Program for adults and children. *It is computer base and very good.

*

www.handsonbanking.org

*

*

Sulie Richardson

Community Education Officer

( 602.335.4312*(C)602.695.9059

7**602.634.4312
* sulie.richardson@desertschools.org

*

*

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From: bounce-6107591-10457874@list.cornell.edu [mailto:bounce-6107591-10457874@list.cornell.edu] On Behalf Of Nicole Ridley
Sent: Wednesday, July 14, 2010 10:31 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Comprehensive Financial Literacy Education for the entire family


*

I am looking for a financial literacy curriculum that is interactive for the entire family; children and adults. Does anyone know if one exists?* If so, can you guide me to where I can access the materials?* Thanks!

*

Nicole

CDB list instructions http://www.runonthebank.net/cdblist.htm

CDB list instructions http://www.runonthebank.net/cdblist.htm

CDB list instructions http://www.runonthebank.net/cdblist.htm

CDB list instructions http://www.runonthebank.net/cdblist.htm



*


CDB list instructions http://www.runonthebank.net/cdblist.htm