Financial Education

Massachusetts Teachers are invited to enter the National Financial Capability Challenge Today! It is an awards program designed to increase the financial knowledge and capability of high school aged youth across the United States so they can take control over their financial futures. It challenges high school teachers and other educators to teach the basics of personal finance to their students, and rewards students, educators, schools, and states for their participation and their success. Educators and top-scoring students will receive national award certificates, and schools and states with the highest participation rates will earn special distinction.

Saving Makes "Cents" is a program for elementary school children, which focuses on the ABC's of money management. Local schools and banks work together to teach children basic monetary concepts, including how to open a savings account, the origin of money and basic budgeting skills. The State Treasurer's office provides an educational curriculum, which is taught by classroom teachers and bank representatives. A bank representative works with the teacher to establish opportunities for students to open savings accounts and make deposits right at their school.

The Brown Bag Lunch Seminar Series is an opportunity for the public to better understand financial topics and develop money management. Treasurer Steven Grossman's one hour, lunch-time seminars take place at the State House. Since 2005, these seminars have addressed a variety of seminar topics and generated numerous financial education discussions.

Caution with Credit provides college students with the online tools and information, which is crucial to understanding responsible credit card use. The program warns students of the pitfalls of credit card debt and its long lasting impact and also informs students about the basics of credit cards including interest, APR, and credit ratings. Started in 2007, Caution with Credit materials and presenters will be available at freshmen orientations throughout the state. The focus will be proper credit card use, the personal financial planning, and the impact of not using caution with credit.

Tomorrow's Money is a project that Treasurer Steve Grossman has worked with the Bond Market Foundation to develop some resources specifically for Massachusetts residents. The Foundation's suite of sites under www.massachusetts.tomorrowsmoney.org offer a wealth of basic personal finance information, tools and resources to help you, regardless of your background or current financial circumstances.