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Friday, June 19, 2015

Resource of the Week – Money Games for Kids

With summer vacation starting for many kids, now is a good time to use some of their free time to teach them about money.

There are many free games online that can help you teach kids the basics of personal finance. Below are a few designed for kids 5-12.

Dollar a Glass Lemonade Stand
Run a lemonade stand while learning about supply, demand, profit, costs, and more.
http://bizkids.com/games/dollar-a-glass

Peter’s Pig Money Calculators
Different challenges to help kids recognize coin currency. Sort coins into the correct jars, count coins, and more.
http://www.practicalmoneyskills.com/games/peterpigs

Financial Football
Test your financial knowledge on the gridiron. Play against the computer or against your friends. Go Hawks!
http://www.watreasurer.financialfootball.com

Farm Blitz
Build a farm and watch your crops grow. Be careful not to get yourself into too much debt though.
http://financialentertainment.org/play/farmblitz.html

Dollar Dive
Fun game from the US Mint that helps kids recognize currency and values.  Catch coins underwater so you can buy sails for your boat and escape the sea monster.
http://www.usmint.gov/kids/games/dollarDive/

Friday, June 5, 2015

Resource of the Week – Elder Investment Fraud and Financial Exploitation Prevention Program

This week’s featured resource is North American Securities Administrators Association’s (NASAA) Elder Investment Fraud and Financial Exploitation (EIFFE) Prevention Program.

EIFE provides resources and continuing education for medical professionals who provide front-line elder care about how to refer at-risk seniors to the appropriate authorities, whether it is to report investment fraud to securities regulators, suspected abuse to adult protective services workers or symptoms of mild cognitive impairment to physicians.

The program has many resources available such as:
  • Clinician’s Pocket Guide
    A pocket-sized resource to help doctors spot the signs of senior investment fraud and report it to the appropriate authorities.
  • Senior Patient Education Brochure
    Information to help senior patients and their families identify the red flags of elder investment fraud and get help.
  • ABCs for APS Professionals: How to Identify and Report Investment Fraud
    APS professionals can help spot and stop the financial exploitation of seniors by knowing what signs to look for and who to call for assistance.
  • Elder Investment Fraud: A National Epidemic Video
    A short video that addresses and explains the widespread problem of elder investment fraud and financial exploitation and explores some of the possible solutions.

For more information, visit http://www.nasaa.org/1733/eiffe/

Friday, May 29, 2015

Resource of the Week: Paying for College

Deciding how to pay for a college is one of the major financial decisions that many people make in their lifetime. There are many options out there, and making wise financial decisions is important.

The Consumer Financial Protection Bureau (CFPB) has put together some tools and resources to help you make good decisions regarding paying for college.

On the CFPB website you’ll find information about:
  • Student loans
  • Student banking
  • Comparing financial aid offers
  • And repaying student loan debt
Visit the website at http://www.consumerfinance.gov/paying-for-college/

Thursday, May 21, 2015

Washington Governor Signs Bill Incorporating Financial Education into K-12 Standards

On May 8, 2015, Washington Governor Jay Inslee signed into law Substitute Senate Bill 5202, making Washington State one of only 20 other states requiring financial education incorporation into existing K-12 learning requirements.

Originally sponsored by Senators Mullet, Fain, Litzow, Billig, Frockt, Keiser, and Habib, the bill – now Chapter 211, Laws of 2015 – also authorizes the Financial Education Public Private Partnership (FEPPP), chaired by Representative Sharon Tomiko Santos, to “seek federal and private funds to support the school districts in providing access to the materials listed pursuant to section 4(1) of this act, as well as related professional development opportunities for certificated staff.”

“It’s so important that our children receive integrated financial education in their classrooms,” DFI Director Scott Jarvis said. “Having financial education from an early age provides a solid foundation to help them make smart money choices throughout their lives – it’s one of the reasons why DFI is supporting a financial education pilot program in daycare pre-schools this year."

View Bill Details

Tuesday, May 19, 2015

Online Calculators That Teach Money Basics

Online calculators are a great tool for financial educators to show how certain financial habits can impact your life.

These 5 calculators below are some of our favorites for introducing students to basic personal concepts.

Saving for a Goal Calculator
Saving for a new MP3 player, a new snow board, or your first car?  This savings calculator from www.themint.org allows you to calculate what it’ll take to reach your goal.
http://www.themint.org/kids/saving-calculator.html

Lifetime Income Calculator
The Lifetime Income Calculator from the Department of Labor allows you to calculate how much you will need to save and earn to meet your retirement goals.
http://www.dol.gov/ebsa/regs/lifetimeincomecalculator.html

Emergency Savings Calculator
Having enough money in a savings account for emergencies is a fundamental lesson in personal finance. This calculator from the American Institute of CPAs helps you determine how much emergency savings you may need, and how you can begin saving toward this important goal.
http://www.feedthepig.org/toolbox/calculators/emergency-savings-calculator

Student Loan Repayment Calculator
One of the biggest decisions for those entering college is how to finance their education. This calculator from the New York Times offers a guide to the borrowing picture at various institutions — and what it takes after graduation to repay the loans.
http://www.nytimes.com/interactive/2014/your-money/student-loan-repayment-calculator.html
 
Credit Card Payoff Calculator
This calculator from Bankrate.com allows you to calculate how long it will take to pay off a credit card. See how adjusting your monthly payment impacts how long it takes to pay off your balance.
http://www.bankrate.com/calculators/credit-cards/credit-card-payoff-calculator.aspx