In 2013, Florida passed a state law which required embedding personal finance into the Economics course. That was about the same time that Palm Beach County School District received a grant to implement a K-12 strategy for financial education. They plucked Aaron Standish from the classroom to lead this important effort. Aaron shares his insights on the keys to a successful implementation, how he supports and develops district educators and the criteria he uses to evaluate curriculum. In addition, he shares the results of an evaluation of My Classroom Economy which took place in Palm Beach County schools. Enjoy!

Details

• 0:00-1:17 - Introduction
• 1:18-6:45 - About Aaron’s current role & experience
• 6:46-9:27 - Florida’s 2013 law which required personal finance to be embedded with economics
• 9:28-13:59 - Reflecting on implementation over the past 4 years
• 14:00-16:31 - 3 things that make a program effective in the classroom
• 16:32-17:48 - Any challenges in Palm Beach County?
• 17:49-22:59 - Training teachers and certifications
• 23:00-24:17 - Popular topics during teacher trainings
• 24:18-24:50 - Break
• 24:51-33:59 - Using My Classroom Economy in the classroom
• 34:00-36:44 - Schools that go the extra mile
• 36:45-40:02 - Aaron sends out curated resources to teachers each semester
• 40:03-44:52 - How Aaron keeps up with the financial world
• 44:53-49:02 - Engaging with parents and the local communities
• 49:03-52:44 - Goals for the next 2-3 years
• 52:45-53:38 - Closing

Other Resources Mentioned

• Center for Economic Education at FL Atlantic University
• Federal Reserve Bank of Atlanta (Miami Branch)
• W!se - Personal Finance Certification For Educators
• My Classroom Economy
• University of Wisconsin-Madison - Center for Financial Security
• Take Charge Today from University of Arizona
• Econ Ed at the St. Louis Fed
• FoolProof
• Bogleheads Forum
• Steve Schullo - Late Bloomer Wealth
• NY Times - Your Money
• Consumer Financial Protection Bureau - Curriculum Review Tool
• Teach Children to Save Day
• W!se Financial Literacy Certification

Rules of Thumb

• Training the teachers well is essential to success.
• Hands on learning works great for students.
• Engage parents and the local community with personal finance education.

Book Recommendation

• Teach Like Your Hair's on Fire - Rafe Esquith
• Teach and Retire Rich - Dan Otter

Quotes

“I’d rather him make that mistake with a pack of sour patch kids with fake my classroom economy dollars then when he gets out into real life and buys a car that he can’t afford.”

About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

Rita Fung