San Diego, CA. When it comes to
saving money, most people, especially young people, will
simply stop at nothing. Many adults wonder why. It's not
hard to figure out why, when you consider all the messages
to spend we all receive in a day from the usual sources
like ads on TV, radio, in the printed media, on public
transportation and taxi's, plus the subtle encouragement
parents give their young people when they hand them a
credit or debit card. Those cards have a message and it is
simply spend. The most common form of overspending is not
those who spend more than they earn or have on hand, it is
paying too much for things.
Parents who don't take an active role in teaching their
children (and grandchildren) about money are teaching them
anyway, but it is by their actions. So, if mom and dad
stop at the ATM everyday and use credit cards for everyday
purchases, there is no reason to expect their children
will do anything different when they have access to credit
and debit cards. If saving money is important to parents,
it will be important to their children. If spending is the
main focus, children will be spenders also.
So as another school year begins, there is once again a
focus on financial education, which mostly comes from the
nonprofit community like the Jump$tart Coalition, its
state chapters, Springboard Nonprofit Consumer Credit
Management, neat web sites like
www.studentdebthelp.org, and of course, the nonprofit
Institute of Consumer Financial Education (www.financial-education-icfe.org).
There is also some new ammunition for high schools and
teachers. The American Center for Credit Education, a
division of Rushmore Consumer Credit Resource Center, in
Rapid City, SD is now making available a free financial
literacy curriculum for high schools.
When young people graduate from high school, society
expects and assumes that they possess certain life skills.
While a handful of students will already have had some
experience with making adult decisions, many will face a
dramatically different world from the one they knew in
high school. Once eighteen, a young person can enter into
legally binding contracts and will likely become
responsible for earning a steady paycheck, paying rent,
filing tax returns, handling bank accounts, taking out car
loans, buying health and auto insurance, and much more.
With little training or experience, young people can
easily make missteps that can significantly influence
their financial health for many years to come.
Suited to the soon-to-be high school graduate, this
curriculum is intended to serve as a basic course in
personal finance. Each of its fifteen lessons addresses a
topic that is essential for young adults to understand and
This curriculum is adapted from the national, standardized
financial literacy program, Credit When Credit is Due.
Credit When Credit is Due is a twelve lesson, 300-page
workbook that was written by well-known financial analyst
and writer, Paul Strassels. The Institute for Educational
Leadership & Evaluation has twice evaluated Credit When
Credit is Due and has verified that it is effective in
providing individuals with the skill set necessary to make
wise financial decisions.
Those who are going on to college or trade school will,
most likely, face the prospect of taking out sizeable
student loans. Fortunately, there is a growing list of
college loan providers that are now offering discounts on
their interest rates for those who complete the lender's
financial literacy course. In many cases, these courses
are based on this high school curriculum.
So, for teachers and parents who are watching their
students get ready for college, please encourage them to
take this course, and then apply what they have learned
when taking the lender's course. A quarter to a half point
discount from the standard interest rate can mean tens of
thousands of dollars in savings when it comes to their
The fifteen lessons included in this curriculum touch on
the basic subjects that all adults are expected to know
and have mastered.
Lesson 1: Learning the Facts of Life
Lesson 2: Affording Your Chosen Life-style
Lesson 3: Working to Earn a Living'Job Applications and
Lesson 4: Becoming a successful Employee
Lesson 5: Knowing What to Expect'Your Paycheck
Lesson 6: Understanding Income and Payroll Taxes
Lesson 7: Developing Banking Relationships
Lesson 8: Creating A Spending Plan (Budgeting 101)
Lesson 9: Moving Out (And into Your Own Place)
Lesson 10: Becoming a Smart Consumer
Lesson 11: Buying and Financing Your First Car
Lesson 12: Getting the Right Insurance (Auto, Health, and
Lesson 13: Using Credit Cards Responsibly
Lesson 14: Taking Out a Loan
Lesson 15: Staying out of Financial Trouble
Each lesson is followed by Topics for Further Discussion &
Suggested Activities. The activities have been created in
such a way so as to engage students with the material
presented in each lesson and should serve as a way to help
students retain and synthesize important information.
One of the difficulties involved in creating an effective
high school curriculum is that most students are not yet
required to make adult decisions relating to personal
finance, and thus have yet to understand the consequences
of making poor decisions. The challenge as an instructor
is to make financial literacy education resonate with your
students. This curriculum and accompanying activities are
designed to challenge students to think critically about
the many decisions that lie ahead'in hopes of preparing
them for what to expect and in helping them to avoid
Some activities included in this curriculum will require a
considerable amount of preparation on the part of the
instructor, but the benefits of giving students a hands-on
opportunity to deal with important financial topics will
help to ensure that they retain the information in a way
that testing alone cannot accomplish.
Instructors can feel free to adapt these activities to
suit the needs of their classroom and their students and
may wish to supplement any given lesson with additional
Resources to enhance students' understanding of the
material. You may find that a given activity could work
well to enhance any number of lessons.
If you create a classroom activity'either as a spin-off
from those presented here or one entirely your own'we
would be interested in having you share the activity with
us. We would like to continue expanding the activities
that accompany this curriculum and would welcome your
One last point'this curriculum is being offered free of
charge to every high school and every high school teacher
in the country'public or private. The American Center for
Credit Education (ACCE) would like to help schools and its
teachers provide effective financial literacy education to
those who will soon desperately need it. ACCE asks you to
respect our copyright. ACCE would like to hear from any
who would be willing to share their experiences in
teaching these materials. We are always interested in
improving it. You may reach the ACCE by email at
For more information, please contact:
Paul S. Richard
Institute of Consumer Financial Education
PO Box 34070
San Diego, CA 92163
About the ICFE:
The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation). The ICFE is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely.
The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its education programs and Resources. It publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.
The ICFE became an official partner with the Department of Defense/Financial Readiness Campaign in June of 2004.The ICFE was an active partner in the California Student Debt Resource Awareness Project (CASDRAP) which resulted in a new web site: (studentdebthelp.org). CASDRAP disbanded in 2010, shortly after the web site project was completed. In 2011 the ICFE assumed the single sponsorship of the (studentdebthelp.org) web site and is now responsible for its content and operation.
The ICFE is also an on-line help for consumers who spend too much. ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.
Visit the ICFE's other web sites at: www.financial-education-icfe.org and studentdebthelp.org. Both sites helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G, a free eNews, and an online resource center for students, parents and educators, plus financial education learning tools and a book store.