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Synthesis

Overall, finacial literacy is proven to help students become better finacial beings once they step out into the real world. Finacial literacy can be beneficial to children young as kindergarteners to 12th grade, college students, and even grown adults who surprass their schooling stage. There are studies that show tremendous before and after results after taking finacial courses. Also in one given source, fiancial lieracy can be simply implified into the curiculum by utilizing real life aspects to subjects we already have now such math, economics, and business courses. Policy makers must first make that step by becoming inspired to move education in a slight different direction that will better suit students to become prepared to take on this world critically.

Links that support this synthesis:

https://www.nbcnews.com/better/lifestyle/how-teach-young-kids-about-money-so-it-sticks-them-ncna1023231

Herman AC. (2016) Adaptive Education : An Inquiry-Based Institution. University of Toronto Press, Scholarly Publishing Division; 2016. Accessed December 5, 2020. https://search.ebscohost.com/login.aspx?direct=true&db=e095mww&AN=1234253&site=eds-live&scope=site.

Ekanem, I. (2013). Influences on the behaviour of black and minority ethnic (BME) communities towards debt and bankruptcy. International Journal of Consumer Studies, 37(2), 199–205.https://doi.org/10.1111/j.1470-6431.2012.01104.x

Attard, C. (2020). We don't need banks teaching kids about money. Schools have it covered. Retrieved December 09, 2020, from https://theconversation.com/we-dont-need-banks-teaching-kids-about-money-schools-have-it-covered-151093

Chaiphat, C. (2019). Improving Financial Literacy of Undergraduate Students with Supplementary Financial Lessons: A Case of Practical Economics for Daily Life. TEM Journal, 8(2), 492–497.

#educators #policy #Finances #children #students

Anaylsis

Robert Kiyoaski overall shared some great concepts of why many people are struggling today finacially. Unfortunately, at this time, most schools are not able to teach about finaces because it goes against their educational structure to help make students become adapt to career readiness. It make sense why school may fear teaching entreprenurship, because it is not always a steady way to obtain income and that there are risks involved. Schools believe that it is best to teach students the safe route to planning the future, when in actuality that does not always help many people. It rather causes us to work harder to barely substaning finacially in this economy.

Anaylsis

How to Teach Young Kids About Money

My take away quote from this article is the saying "if a child is old enough to ask for something, they are old enough to learn about money". This article was very useful, because it lets the audience undertand that no one is too young to understand aspects of finaces. You can literally show younger children different aspects of finaces by just allowing them to play with fake money , toy cash registers, or even allowing a child to sit one's lap while the adult is paying bills. Overall finacial literacy learning should not be limited to older children. It is good to instill good habits in their mind while their young.

#my child #money tips #money management

Anaylsis

Finacial Literacy Evulation

Overall, we can now understand that it is up to school's systems to help students to have a good sense of finacial literatacy. Looking back the scores, there were improvements; however, we not able to see an outstanding improvement in scores, becasue like any other subject, one must keep taking this course in order to keep getting better. During this course, students got the basics down pact which were theit attitudes towards spending and saving habits. I believe in the future that most of these students must keep taking other fundamental finacial literacy clases, to fully understand how to go about paying off debt and loan terms which are more difficult aspects on finaces.

Summary

The research study, Improving Financial Literacy of Undergraduate Students with Supplementary Financial Lessons: A Case of Practical Economics for Daily Life, the best way to test student improvements are through not only test scores but to add open ended questions to these tests. At the end of the tests, the researchers, and readers where able to know the detailed thoughts of what made some of the scores go up. Many of the students still showed that their behaviors remained a little stagnant as it pertained to going about debt; however, we able to see that factors such as students learned to better purchasing habits by researching their products before buying through open ended questions. Open ended questions on pre and posts tests helps instructors and policy makers know if a class is overall serving is purpose effectively to students. Given the scores and intricate filled in answers, every school faculty member and community were able to examine course work effectively.

Work Cited: Chaiphat, C. (2019). Improving Financial Literacy of Undergraduate Students with Supplementary Financial Lessons: A Case of Practical Economics for Daily Life. TEM Journal, 8(2), 492–497.

Summary

A research study conducted in a Thailand university shows that adding financial literacy courses benefits students instead of not having this course available. According to the article, Improving Financial Literacy of Undergraduate Students with Supplementary Financial Lessons: A Case of Practical Economics for Daily Life, Thailand has been suffering economic regression, natural disasters, and natural resources shortages. (Chaiphat, C., 2019). As this country is undergoing so many poverty conditions, there are no resources given to help their citizens figure out how to improve their economy. One can witness how their media portrays a grave need to obtain material items for their teen group. Therefore, a survey group called the OECD decided to first test adults in Thailand on their financial literacy competency compared to other countries, which showed that Thailand's people fell shortly behind in scores (Thailand 58.50%, other countries 62.3%.) After comparing scores, it was necessary to see if adding financial courses in a university setting to see if it helps people's overall management with money. Students in this course were first given a pre-test on their attitude towards money, money management skills, financial behaviors, loan, and debt competency. Then there was a post-test at the end of the course, which showed higher scores (Pre-test mean scores: 4.48 and Post-test mean scores: 5.54). After comparing both scores, one can infer that adding financial literacy courses to the school's curriculum can help change attitudes towards spending money, which will soon reflect on students' financial behaviors.

Summary

If a child is old enough to ask for something, they are old enough to learn about money. An article, How to Teach Young Kids About Money, so it Sticks with Them, expresses that young children can benefit from learning about money at a young age. Some sound principles to start with teaching young children money management are giving, spending, and saving. The article provides a great example of utilizing this technique by providing a child three piggie banks to save money instead of one. (Spector, N., 2019). The child would then save accordingly by distributing the funds given to them in the three piggie banks labeled "giving, spending, and savings." It is good to imply necessary money management skills to children young because they must understand that the "money does not grow on trees" will teach them early not to spend all the money they earn on just their wants. Allowing children to get in the habit of wanting to give their money to maybe a charity or to other family members and friends is also a great habit to have. Also, saving is critical in the long term. Overall, young children should gradually learn different aspects of money, because one day they will have the opportunity to have a job and be solely responsible for spending their own money.

Read more at https://www.nbcnews.com/better/lifestyle/how-teach-young-kids-about-money-so-it-sticks-them-ncna1023231

#education #children #kindergarten #money management

Summary

Many entrepreneur students try to sell their products at school, although it is prohibited to do so. Many parents and students are unsure why it is necessary to prevent sales during school because they typically view entrepreneurship as a positive attribute. Although entrepreneurship is an excellent characteristic for students to want, students must understand that all settings are not appropriate to sell items. The text gives us examples of how merchandise of sale during school hours can be disruptive by taking note of a fictional film called Harry Potter. This example includes "In the stories, two of the characters create a plethora of joke and gag products and sell them at Hogwarts School. These products range in severity from candies the make the user appear to be sick so that the student can get out of class, to full-blown dragons made from fireworks explosions." By analyzing this example, one can easily infer how selling items during school or class time can become disruptive because it can take away the focus of learning to sell a product to another student. Altogether the school systems do not want to disregard students from wanting to practice entrepreneurship; however, students should consider selling their products afterschool and out of school where it is more appropriate.

You like the information given in this Summary, find out more:

https://bailbondbulldogs.com/why-cant-kids-sell-stuff-at-school/

Summary

The textbook, Adaptive Education: An Inquiry-Based Institution, addresses that not only should we construct better teacher training to benefit students, but it will benefit teachers as well. The text suggests we utilize the pragmatist theory to encourage training our teachers on an experimental level. By doing this, we eliminate the connation that education that people are only subjected to act out on what they learn and thought through, whereas the pragmatist theory is implying that learning is the matter of enlarging the range of life experience. (Herman, AC, 2016) Therefore, if we in place more real-life situations in classroom with current curriculum it will allow teachers to be able to utilize their full creativity teaching style. This style of learning will also give teachers (current and new) the opportunity to gain new experimentally research experience, but it will allow them to create habit of engaging in research experiments in their daily lives. By analyzing this, one can infer that the correlation of creating better habits starting with our teach will ripple down to our students and help incorporate more creative solutions to teaching. The best way to amplify this goal is to have thorough dialogue amongst a community of teachers, parents, some students, and school officials on how to improve the direction of where educations is going and making room for improvements.

Summary

After the 2008s economic recession, many black and other minority groups (Asians, Bangladesh Pakistanis) have suffered financially compared to their white counterparts. This research study, Influences on the Behaviour of BME Communities towards debt and bankruptcy, was done to observe the factors contributing to many ethnic groups' financial ignorance towards debt. The text says that groups who can successfully handle financial debt are in the age range of 50-60 years, college graduates, and business owners. However, those considered middle class, school dropouts, female, and those apart of black and minority ethnic groups tend to fall behind the financial literacy curve. (Ekanem, I., 2013) The factors that to contribute to this difference in handling debt were that: BME groups were unfamiliar with loan terms presented during the loan process, there were language barriers while going over loans, many of these people had attitudes that revealed that they either felt like debt would never happen to them or that debt was inevitable to occur. Certain religious groups (Muslim and Christians) share different connotations on paying about paying, which conflicts with paying off their debt. For example, Muslim traditions believe that one must pay all their debt or impact their afterlife placement. Therefore, many Muslims may pressure many creditors to waive certain portions of their debt that they may not be able to, which could cause culture dilemma issues while trying to control debt. Besides, those of their communities put shame on those who are going through bankruptcy. Now that we know the common factors that commonly contribute to financial illiteracy to BME groups, we can assist the reader on the groups' suggestions on how they feel that they could have done a better job dealing with their debt. Many BME groups that underwent bankruptcy and deficit think that if they had the same opportunity to experience financial counseling after bankruptcy, they would have understood the terms and conditions of loans. Also, they would have gone about paying off debts in a better fashion.

Would you like to get more in-depth knowledge of the research study's findings and responses? Then access this study in the link below:

https://doi.org/10.1111/j.1470-6431.2012.01104.x

#helpful tips #money management #money tips #educateyourself #education #student needs #college life

Synthesis: To better prepare students/future adults for the real world, we must implicate financial literacy courses into the school’s curriculum. According to Ekanem, I. (2013), many adults do not have the opportunity to gain adequate knowledge to make the most out of their money, especially minority groups. Factors such as stigmas on bankruptcy, lack of understanding of loan terms, and language barriers play a huge role in why many adults do not know how to manage their money and take on debt appropriately. Many of the minority entrepreneurs in this study expressed that if they granted financial counseling before being given a loan instead of after the fact, they would be in a better financial situation.

Chaiphat, C (2019) conducted a qualitative study on a collective of Thailand students that took financial courses. There were a pretest and post-test that suggested this class has embarked on significant results in personal finance.

Here are some proven benefits of adding financial classes to the school’s curriculum: -Allows students to be able to create their financial plan/strategies for the future -Positive attitude towards spending= better spending behaviors -Know loan terms beforehand -Skills such as researching products first before spending

#money management #big money #college life #student needs #education

Synthesis:

So the real question is, why do the school systems choose not to promote entrepreneurship? First, we can backtrack and look at the education model, which resembles an assembly line=working at a job.

According to the #1 Best- Selling Author Ever of Personal Finance, Robert Kiyosaki explains that he also believes that schools do not teach finance because schools instead tend to produce workers rather than entrepreneurship (individualism). When someone is an entrepreneur, they manage their finances. However, workers rely on their job to take care of their finances: 401K retirement and benefits. It is the easy way out model.

Also, schools do not allow students to sell merchandise in school not only because it can disruptive, but they are inevitable showing children where that certain settings are not appropriate to sell anyone anything which is school. However, in some instances, people who are financially stable feel that one can meet their potential client or customer anywhere.

Overall, school is NOT for entrepreneurship. You will have to learn about on your own time outside of school or through someone you may know that is an entrepreneur.

Find out more on why schools chose not to add money to the curriculum:

https://www.instagram.com/tv/CEUEnWbJEU8/

Herman AC. (2016) Adaptive Education : An Inquiry-Based Institution. University of Toronto Press, Scholarly Publishing Division; 2016. Accessed December 5, 2020.

https://bailbondbulldogs.com/why-cant-kids-sell-stuff-at-school/

#education #educators #money management #finances #college #career #entreprenuership

Analysis:

Our current education model is that it pushes towards an assembly line and the scientific method of learning. This habitual way of learning is an issue because it does not allow teachers to make their adjustments to teaching students who learn at different paces. The current curriculum does not allow students to learn through an observation/research approach because it goes against many policymakers' opinions of learning through a collective model.

The textbook, Adaptive Education: An Inquiry-Based Institution, suggests that the school curriculum should change its learning approach by choosing the adaptive education model. This model would allow teachers to be more flexible with their teaching style to best suit their students who learn at different paces ,promote individualism, and allow students to be better prepare for the real world

#education #educateyourself #students #college life #student needs

Summary1

Understanding How Our Education Model Derived From:

Many schools, universally, have adapted to the Prussian Model of education. This Model derived from Napoleon's defeat of the Prussian army during the Industrial Revolution. According to the article, Adaptive Education: An Inquiry-Based Institution, philosopher Johann Fichte, used the Prussian army's failure as an opportunity to create a more structured nation. He believed that it was necessary to achieve this goal by enforcing obedience and nationalism into the education system. This Model of education mimicked the assembly line. It created a mass production-like school setting where teachers specialize in one subject and divide them according to age groups to fulfill a curriculum standard. Many countries have adapted to this Model because it seemed to have a good structure of allowing students to take on different levels of information in increments. It would later prepare them for the workforce. Education has served to be the foundation of meeting real-world standards. For example, political and economic pressures. If these types of strains erupt in a society where there is a new need for a specific field like science to help the economy, many people would then take the time to go back to school to specialize in those fields. This reliability of this school model shows how this Model heavily shapes nations today.

#education #educateyourself #politics #economic #shool hacks

Helpful Infographic That explains Why Students Need Financial Literacy Courses

Money Management Tip 1:

Summary

Robert Kiyosaki heavily expresses that if most people change their attitude towards, the way they think about money, they will be able to acquire more money. He believes that schools are responsible for many adults to look at solutions through one-way factors, right or wrong, instead of thinking more abstractly to solve problems. This influences the attitudes people have towards the money they do not have. Robert says that many people tend to complain about not having enough money to acquire something instead of thinking more optimistic about their situation and exhibiting that they will soon make a way to get their cash. The way that he analyzes the attitudes of money is like the Laws of Attraction theory, which is "If I believe I have, I will have. And if I believe I do not have, I will not have". Furthermore, he wants people to be aware of their attitudes towards the money they may or may not have already because it will influence their behavior toward seeking out money.

Check out his theory towards financial attitude here:

https://www.instagram.com/tv/CEUEnWbJEU8/

#money tips #mindset #rich #poor #fix your attitude

Summary

The textbook, Adaptive Education: An Inquiry-Based Institution, expresses that their main goal to improve the quality of the classroom is to get teacher and local stakeholders to apply the research process to their teachings. The main difference between college professor’s style of teaching compared to K-12 teachers are that college professors understand that most adults have developed their own life experiences that they can apply to learning whereas children may not. The text further believes that although grade school students may not fully as much life experience as an adult, does not mean that they are currently experiencing life and will in the future. Therefore, it is imperative that we allow grade schoolteachers to train on a research-based level so they can efficiently teach students in a way where they can analyze information and apply them to real world contexts. Moreover, the text suggests that “for inspiration we could turn to other professions that already operate on an evidence-based institution” (Herman, AC, 2016) Overall this teaching style works for college students and it shall have the same effects, if not better, on grade school students.

#quotes #postgradlife #i eat money #i need money #money tips

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