Financial Illiterates

John Schoenberg

Personal Finance and Marketing 12

Cardinal Spellman High School

Introduction

Financial Literacy and money knowledge are two major problems across the United States. The financial literate and financial illiterate are creating two social classes in the U.S.A. today. Starting in the mid twentieth century and now in the twenty-first century we have two social classes the HAVES and the HAVE-NOTS along with a social entitlement behavior.

How do you define financial literacy? How can this definition of literacy be used in other classes? What literacy skills are important to your life overall? How do you and other students use literacy skills inside and outside of the classroom?

Once you develop a better understanding of the difference between the financial illiterates and financial literate, you will use the Public Policy analysis to offer suggestions on the Cardinal Spellman High School (CSHS) web page to address these very concerns.

Task

You will research the problems, lifestyle differences between the financial illiterates and financial literate. As you conduct your research you will become aware as to how dangerous it is to be a financial illiterate. Students at Cardinal Spellman High School (CSHS) will gain an understanding of how it is applicable to the lives of teenagers and adults.

You will then create a Public Service Announcement (PSA) for CSHS students that will relay the importance of embracing financial literacy beyond the classroom.

Use the links provided in the Resource section below in addition to the six-step Public Policy Analyst worksheets to help you complete your project.

Remember: the goal of your research and PSA recording will be to become an expert on the problem of student and parent financial illiteracy and help coach other students to accept the importance of developing strong, life-long, critical financial literacy skills.

Lack of money is the root of all evil.
George Bernard Shaw

http://www.allgreatquotes.com/money_quotes.shtml

Process

You will have two sections to complete in order to finish this project. You must complete each section before moving on to the next.

SECTION ONE: Public Policy Analysis

Step One: Define the Problem

As a whole class, we will complete Worksheet One together.

Step Two: Gather Evidence

You will have two class periods to work independently to review the websites listed on Worksheet Two and complete the questions that follow. Additionally, you may want to conduct a survey of fellow students in order to gather information relevant to CSHS as part of your evidence. Use opinionpower.com to create a quick, ten-question survey if necessary.

Step Three: Identify Causes

You will have to think for this step. In order to complete Worksheet Three, use the links suggested and the information you gathered during Step Two. Make sure you include evidence and the source of the evidence for each cause.

Step Four: Evaluate Policy

For this part of the assignment, answer the questions on Worksheet Four. This section requires you to examine what financial illiteracy problems and programs currently exist and the strengths and weaknesses of each.

Step Five: Develop Solutions

Offer your suggestions for ways to revamp literacy instruction and the student perception of financial literacy at CSHS on Worksheet Five. Use the links available on the worksheet if you are having difficulty thinking of unique ideas.

Step Six: Select the Best Solution

Next, evaluate the ideas you thought of in Step Five. Complete Worksheet Six to assess both the effectiveness (how well the idea would work) and feasibility (how practical and possible it would be to actual do the idea) of your suggested solutions.

SECTION TWO: Public Service Announcement (PSA)

Once the six steps of the Public Policy Analysis are completed, draw on the information you acquired in Section One to create a Public Service Announcement. The objective of this announcement is to show fellow CSHS students how financial literacy can play an active role in their lives. You will work in small groups of 3-5 students to create your PSA.

How to Write a PSA

In order to create your PSA, remember to follow the steps of the creative process.

Step One: Plan and Practice

Brainstorm your ideas. Get all of your thoughts down on paper. Use the “Writing a PSA” worksheet to record these ideas. Write a draft of the script for your PSA about how you can represent your suggestions for incorporating financial literacy into the lives of CSHS students. Be sure the draft includes characters, setting, conflict, and connection to CSHS students. Keep in mind that your PSA must clearly present a problem that is strongly supported by your research.

Step Two: Create

Make sure that your conflict and proposed solution are evident in your PSA. Also, be sure that your ideas are research-based and your sources are clearly cited.

Step Three: Revise

Re-work and make changes to improve meaning and clarity of your PSA. This step is where you add any finishing touches and finalize your project.

Step Four: Share and Reflect

Review your PSA and grade yourself based on the requirements noted on the rubric below.

“Too many people spend money they earned.to buy things they don't want.to impress people that they don't like.”
― Will Rogers

http://www.goodreads.com/quotes/tag/money

Evaluation

SECTION ONE: PPA Worksheets

CATEGORY	30 points	20 points	10 points	0 points
Worksheet Packet	Submits worksheets on time with detailed answers to all questions.	Submits worksheets on time with sufficient answers to all questions.	Submits worksheets late with sufficient answers to all questions.	Submits worksheets late with some answers incomplete.
Internet Use	Successfully uses suggested internet links to find information and navigates within these sites easily without assistance.	Usually able to use suggested internet links to find information and navigates within these sites easily without assistance.	Occasionally able to use suggested internet links to find information and navigates within these sites easily without assistance.	Needs assistance or supervision to use suggested internet links and/or to navigate within these sites.
Use of Class Time	Used time well during each class period. Focused on getting the project done. Never distracted others.	Used time well during each class period. Usually focused on getting the project done and never distracted others.	Used some of the time well during each class period. There was some focus on getting the project done but occasionally distracted others	Did not use class time to focus on the project OR often distracted others.

Name __________________________

TOTAL POINTS: _____/90

SECTION TWO: PSA Rubric

CATEGORY	15 points	10 points	5 points	0 points
Writing a PSA Worksheet	Submits worksheet on time with detailed answers to all questions.	Submits worksheet on time with sufficient answers to all questions.	Submits worksheet late with sufficient answers to all questions.	Submits worksheet late with some answers incomplete.
Campaign/Product	Students create an original, accurate and interesting product that adequately addresses the issue.	Students create an accurate product that adequately addresses the issue.	Students create an accurate product but it does not adequately address the issue.	The product is not accurate.
Research/Statistical Data	Students include 3 or more high-quality examples or pieces of data to support their campaign.	Students include at least 2 high-quality examples or pieces of data to support their campaign.	Students include at least 1 high-quality examples or pieces of data to support their campaign.	Students include fewer than 1 high-quality examples or pieces of data to support their campaign.
Script	Script is complete and it is clear what each actor will say and do. Entries and exits are scripted as are important movements.	Script is mostly complete. It is clear what each actor will say and do. Script is shows planning.	Script has a few major flaws. It is not always clear what the actors are to say and do. Script shows an attempt at planning, but seems incomplete.	There is no script. Actors are expected to invent what they say and do as they go along.
Attractiveness	Makes excellent use of font, color, graphics, effects, etc. to enhance the presentation.	Makes good use of font, color, graphics, effects, etc. to enhance to presentation.	Makes use of font, color, graphics, effects, etc. but occasionally these detract from the presentation content.	Use of font, color, graphics, effects etc. but these often distract from the presentation content.
Presentation	Well-rehearsed with smooth delivery that holds audience attention.	Rehearsed with fairly smooth delivery that holds audience attention most of the time.	Delivery not smooth, but able to maintain interest of the audience most of the time.	Delivery not smooth and audience attention often lost.
Sources - Quality	Students include 3 or more high quality sources.	Students include 2 high quality sources .	Students include 2 sources but some of are questionable quality.	Students include fewer than 2 sources.
Workload	The workload is divided and shared equally by all team members.	The workload is divided and shared fairly by all team members, though workloads may vary from person to person.	The workload was divided, but one person in the group is viewed as not doing his/her fair share of the work.	The workload was not divided OR several people in the group are viewed as not doing their fair share of the work.

Name __________________________

TOTAL POINTS: _____/120

“There is only one class in the community that thinks more about money than the rich, and that is the poor.”
― Oscar Wilde

http://www.goodreads.com/quotes/tag/money

Conclusion

As you’ve learned from your research, the lack of financial literacy skills is a problem that needs to be addressed. This predicament will expand unless there is a movement for change. Throughout this project, not only have you thought critically about the problem and potential solutions using the six steps of the Public Policy Analyst, but, by creating, discussing, and distributing your PSA’s, you have taken the first step toward helping fellow CSHS students recognize how they can be part of a positive social climate change within our school community.

Standards

Civics, Citizenship, and Government

use a variety of intellectual skills to demonstrate their understanding of the necessity for establishing governments; the governmental system of the U.S. and other nations; the U.S. Constitution; the basic civic values of American constitutional democracy; and the roles, rights, and responsibilities of citizenship, including avenues of participation.