Help Your Child Develop Financial Literacy

As part of Illinois PTA’s continuing effort to implement the Resolution on Financial Literacy passed at the 2017 Illinois PTA Convention, we have been providing local units and councils with information to share with their families on the topic. A new financial literacy resource, Better Money Habits, has been created through a partnership of Bank of America and Khan Academy.

The Better Money Habits website offers families a variety of topics specifically concerning children and money. Among the topics are:

  • Top questions kids ask about money (and how to answer)
  • How teens manage their money: What parents need to know
  • How to establish money rules for your child at any age
  • Teachable money moments for your child

The partnership with Khan Academy includes a collection of videos focused on careers that ask young adults in those jobs how they are handling their personal and professional financial responsibilities. The videos provide insight into what their job duties are and what their typical day is like. Careers highlighted in the videos include:

  • Salon Owner
  • Firefighter
  • Architectural Designer
  • Commercial Pilot
  • Education Resource Specialist
  • Senior Product Manager

Check out the Better Money Habits section on children and money, the Khan Academy videos, and the Better Money Habits website as a whole to help your child improve their financial literacy and prepare for a life after high school graduation.

Photo © 2003 by Jacob Edward under Creative Commons license.

News from National Convention: Resolutions

PTA resolutions are a way for the membership of the association to express its opinion and intent to address issues affecting the lives of children and youth. They focus and formalize the position of the PTA on a variety of issues. At the 2017 National PTA convention in Las Vegas, the delegates adopted one resolution and added one more resolved clause to an existing resolution.

Resolution on Healthy Sleep for Adolescents

Any parent of a teenager knows how hard it can be to get them in bed at a decent hour, much less get them out of bed the next morning to get them to school. Research confirms this, noting that adolescents have their sleep patterns shift from those of their younger years, having difficulty falling asleep before 11:00pm and functioning at their best when allowed to sleep until 8:00am.

Unfortunately, many teens are not getting the 8.5 to 9.5 hours of sleep that they need each night. More than two-thirds get less than 8 hours of sleep on school nights. The reasons for this chronic sleep deprivation in teens is varied, but include large amounts of homework, busy extracurricular and work schedules, poor sleep routines (including using cell phones and other backlit screens shortly before bed that can disrupt the ability to fall asleep), and early school start times. Approximately 40% of high schools in the United States start at 8:00am or earlier.

The result of this sleep deprivation in teens results in increased risks in many aspects of their lives, including an increased likelihood of accidents due to impaired driving, an increased risk of depression and suicide, and an increased risk of obesity, cardiovascular disease, metabolic dysfunction, and other physical health problems in adulthood.

Early school start times have been identified as a key, but easily modified, component of adolescent sleep deprivation. Schools that have moved start times later for their older students have seen not only decreases in tardiness, absences, and discipline issues but also increases in student performance and greater participation in extracurricular activities.

To address these issues, the resolution calls on PTAs to educate youth, parents, educators, school personnel, school boards, athletic coaches, athletic organizations, state board of education members, and the community about the positive impact that sufficient, quality sleep has for teens’ health, safety, academic success, and future earnings.

PTAs are also encouraged (modified by the delegates from “urged” in the proposed resolution to address areas of the country with limited daylight hours during part of the year) to collaborate with other stakeholders and policymakers to develop solutions and policies that allow teens to get sufficient, quality sleep. National PTA is directed to work with the Department of Education to encourage states and school districts to incorporate standards regarding sleep needs and patterns, potential risks of insufficient sleep, signs of sleep related difficulties, and healthy sleep habits into existing health, science, physical education, and other appropriate curricula.

Proposed Amendment to Resolution on Sale, Resale and Destruction of Firearms

In 1996, the National PTA passed a resolution on the sale, resale, and destruction of firearms. Later that year, the Congress passed an omnibus spending bill that included the Dickey Amendment, an amendment that prohibited the Centers for Disease Control and Prevention (CDC) from using funds for injury prevention and control to advocate or promote gun control. In the same bill, $2.6 million, the exact amount that had been allocated for firearms research the previous year, was earmarked for traumatic brain injury research.

The Dickey Amendment has been interpreted to mean that the CDC cannot conduct research into gun violence, and appropriations for the CDC since 1996 have continued to include the amendment. The Obama administration and Democrats in Congress attempted to remove the amendment in 2015, but were unsuccessful. It is also important to note that Jay Dickey, the representative for whom the amendment is named, has since stated that the CDC should be allowed to research the causes of gun violence, noting that “doing nothing is no longer an option.”

The amendment to the 1996 resolution inserts a new resolved clause that states: “That the National PTA and its constituent bodies shall seek and support legislation for state and federal funding initiatives for the research of the causes and effects of gun violence.” The delegate body voted to split the amendment into two resolved clauses, one directing the National PTA to work for federal legislation and funding and one directing state PTAs to do the same on the state level.

The National PTA legislation team that submitted the amendment stated that the reason for amending rather than submitting a completely new resolution was that the 1996 resolution specifically mentioned CDC research, but since that time, there has been extremely limited research to fully support a new resolution.

 

Financial Literacy Resources

April is Financial Literacy Month, and one of the three resolutions passed at the 2017 Illinois PTA Convention called for the Illinois PTA to advocate for schools to incorporate financial literacy education into their existing curricula. Financial literacy is critical for students to acquire, as managing money, purchasing a car or house, saving for a child’s education and for retirement are all essential skills for adults. Add to that the challenge of managing student loan debt, which now exceeds credit card debt in the US, and students graduating from high school or college face far greater financial challenges than their parents did.

Here are some resources that PTAs, teachers, and school districts can use to incorporate financial literacy into their curricula aligned with the Illinois Learning Standards.

  • The University of Illinois Financial Literacy Program: Run by the University of Illinois at Urbana-Champaign’s Business school, these resources are primarily aimed at high school students and teachers. Among the resources is the University of Illinois Securities Exchange Simulation (UISES) that allows high school students to buy and sell equities just like real investors using the same web-based simulation that UIUC’s business school uses to teach undergraduates, MSF, and MBA students.
  • The Illinois Bankers Association: IBA resources include links to programs that help students build their financial literacy skills, including the US Federal Reserve’s education materials.
  • Council for Economic Education: The CEE has developed K-12 standards for financial literacy that are aligned with and connected to the Common Core State Standards (and thus the Illinois Learning Standards), allowing financial literacy materials to be used to teach to current standards. CEE also provides materials on assessing students’ financial literacy knowledge and skills as well as offering professional development materials to help teachers feel comfortable with the materials. Also available is the Financial Fitness for Life curriculum that has teacher, student, and parent guides.
  • National Education Association: The NEA teachers’ union provides resources for teaching financial literacy, including lesson plans, lesson sets, games, and background resources aimed directly at the teacher in the classroom.
  • Money as You Learn: Developed as part of President Obama’s Advisory Council on Financial Capability, Money as You Learn provides teachers with Common Core aligned texts, lessons, and tasks that connect the Common Core to real life applications while also equipping students with the knowledge needed to make smart financial decisions.
  • Junior Achievement: Junior Achievement has provided students with hands-on financial and economic experience for years. Junior Achievement programs could be incorporated into the classroom or run by a PTA as a separate program.
  • Making Cents: The Making Cents Project is a cooperative effort of the Pennsylvania Department of Education and Penn State University aimed at improving personal finance and economic education throughout the state. Though targeted at Pennsylvania, the project has archived webinars (both slides and videos) for teachers, curriculum resources, a model high school personal finance course, and research results on economic and financial literacy education.

Please share these resources with your school district and your principal, encourage them to use financial literacy materials to teach the Illinois Learning Standards they are already focused on, and consider how your PTA can support financial literacy education at your school through programs and events.

Photo © 2003 by Jacob Edward under Creative Commons license.

News from the Illinois PTA Convention—Report on Young Adults in the Justice System

Delegates at the 2016 Illinois PTA Convention passed a resolution creating a committee to study whether those young adults aged 18 to 21 involved in the justice system should be treated differently from older adults based on the latest scientific research on brain development. At the 2017 Illinois PTA Convention, that study committee presented its report and recommendations. The report presents the three areas of focus that the committee investigated—brain development, age divisions, and what other jurisdictions are doing, both in the United States and overseas.

Brain Development

The report notes that current research into how the brain develops indicates that the prefrontal cortex—the part of the brain that regulates self-control and reasoning—continues to develop well into a person’s mid-20s. In addition, a recent study indicated that when faced with a threat or “negative emotional arousal,” those aged 18 to 21 had diminished cognitive performance—essentially reacting like a much younger teenager would. Additional research has shown that the lack of judgement and willingness to take risks continues to approximately age 25. This “maturity gap” is what has had older adults talking about “those crazy kids” and the stupid or dangerous things they do for centuries.

Age Divisions

Under the current legal structures in Illinois and the United States, young people become mature, responsible adults on their 18th birthday, and when they commit a crime, they are treated as such. But as the research noted above indicates, turning 18 is not an accurate dividing line between youth and adulthood when it comes to judgement and responsible behavior. When looking at crime and arrest data, approximately 30% of those arrested are between the ages of 18 and 25, with a sharp decrease in first-time arrests after age 25. In addition, the research also indicates that those young adults ages 18 to 25 are much less likely to be arrested again for crimes when diverted away from the standard adult justice system. Finally, much of the literature on how to treat these young adults in the justice system recommends a two-tiered system, treating those ages 18 to 21 more like juveniles while treating those 22 to 25 as emerging adults.

Other Jurisdictions

Several states and other countries are beginning to incorporate the latest research into brain development and information drawn from crime statistics to change how they treat young adults in the justice system. In 2016, Vermont passed a law allowing defendants ages 18 to 21 who are not charged with specific serious crimes to apply for youth offender status, allowing them to be tried in the juvenile justice system. California has recently begun a pilot program in five counties that allows those 18 to 21 who have not committed serious crimes to use the education and support services of the juvenile justice system, serve one year of their sentence at a juvenile facility, and have their criminal record expunged if they successfully complete the program. Massachusetts and Connecticut have both had legislation introduced to increase the age of juvenile jurisdiction to 21. Overseas, Italy treats young offenders ages 18 to 21 in the same manner as the new Vermont law. Germany and Sweden also treat those 18 to 21 more like juveniles than as adults.

Conclusions and Recommendations

While the resolution creating this study committee was directed at young adults ages 18 to 21, the committee believes that the science on the topic merits differentiation in consideration from adults up to age 25. The emerging consensus in the justice system is to treat those 18 to 21 more like juveniles, while treating those 22 to 25 as emerging adults. The specifics of how this differentiation is implemented continues to be a work in progress.

The committee made three recommendations, all of which were adopted by the 2017 convention delegates:

  1. That the Illinois PTA recognizes that youth from the age of 18 to 25 have a different maturity level from that of adults over that age, and that should affect their treatment within the justice system.
  2. That the Illinois PTA will take positions on legislation as it is introduced to address the age cohort, based on a study of their needs and our policies.
  3. That the Illinois PTA amend the Legislation Platform of the Illinois PTA, by adding a new Item 11-e. “Support of laws and regulations in our justice system that address the differing needs of youth as they continue to mature from age 18 through and including age 24.”