Category Archives: Advice

Advice for high school students, parents, aspiring college students, and homeschooling.

Where does my child rank in school?

All the Children are Above Average

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“Where all the women are strong, all the men are good looking, and all the children are above average.”

UnknownThose are the closing words Garrison Keillor spoke each night on his radio show A Prairie Home Companion. He was summarizing the fictional hometown Lake Wobegon – a special place. It’s an interesting concept – this idea that “all the children are above average” and, I believe, can be a detrimental one when viewed through the lens of government-mandated testing.

From No Child Left Behind to the Third Grade Reading Guarantee, from OTES to PARCC Assessments, these Federal and state mandates share a common theme – all expect our children to be above average, by their standards. Our federal and state policy makers expect all children to perform at a specific level.

It’s a model of educational conformity at its finest. The “ideal” of what each child should be able to achieve.

Here’s my problem – children aren’t widgets.

Lake Wobegon, as wonderful as it sounds, is fictional.

Each child we have the blessing to educate is unique. Each child, as I recently heard from education thought leader and bestselling author Sir Kenneth Robinson, “is a fountain of possibilities.” The young people in our schools can’t be considered to be outputs. As educators we must cultivate the right conditions for learning; we must find each child’s passion, talent, and creativity. As educators we must capitalize on the great diversity in our schools and guide young people to find their talents with an eye toward using these to positively contribute to society.

I am not opposed to accountability or assessments; I believe we should continually assess students on individual progress. I believe data is essential in directing instruction and evaluating performance. Statistical analysis is necessary at a classroom and building level. I also believe that we must take individual differences, developmental differences, and life experiences into account.

There is no – none, zero, zilch – assessment that can accurately assess all children.

There is no one-size-fits-all test, fix, or easy way to measure student academic performance. It is difficult, challenging and messy work. We must abandon the idea that we can fix education with more money, a new program, and a piece of legislation. You can’t legislate learning any more than you can legislate love; learning is organic, it happens when passion meets opportunity, when a great teacher creates an amazing experience for students to embrace.

Let’s commit ourselves to the monumental challenge of making educationpersonal for each child. Let’s tap into the passion, talent, and drive of parents, communities, and our dedicated educators nation-wide and explore every opportunity to motivate each individual student in our care. We must celebrate our diversity – the amazing differences in background, experiences, talents, abilities, and beliefs – and capitalize on opportunities to prepare each student for success after public education. We know we need a diversified workforce to drive our economy. We don’t need every student to be the same; we need every graduate to have skills, passion, and desire to be ready for productive lives as adults.

Our current school structure works very well for a certain segment of our population; it fits their personal learning styles and they flourish in the experiences a traditional school offers. Our current structure is inadequate and antiquated for some students in our education system – we must seek different opportunities to cultivate the personal styles and needs for these students. As Ken Robinson reminds us, “we all started with the miracle of birth and each life is a unique, unprecedented moment in history.”

Each child is gifted in some unique way; each child has a passion, each child is creative, and every student in our schools deserves the opportunity to write his or her own compelling and engaging success story – utilizing a unique voice no government mandate or standardized test could possibly measure.

All of our children are above average . . . just not in the same areas.

Home-school students do well first time in college

Springfield State Journal Register
Home-school students make transition to higher education smoothly, thanks to a plethora of resources and social acceptance
By Amy Choate-Nielsen

  • Posted Oct. 30, 2013 @ 12:01 am
  • Updated Oct 30, 2013 at 6:26 PM

When Cade Taylor considers what career he’ll choose, there’s a little voice in the back of his mind that inspires him to aim high.

It sounds like his mother.

Taylor is a college freshman who, up until now, has been home-schooled by his mom his whole life, but the next step after college is one he hopes will make her years of sacrifice all worth it, he says.

“I feel guilty I took up so much of her time,” Taylor says with a little laugh. “I feel like I have to succeed at something to make myself feel like her spending all of that time on me was worthwhile – so I have to do something cool with my life.”

Taylor is one of a growing population of home-schooled students whose first experience with a brick and mortar school is walking onto a college campus. As the rate of students attending home school is increasing, so too is the rate of home-school students attending college, thanks to a marked increase of available resources and a softening of public perception.

Now more home-school students than ever are making the transition to college life with better skills and preparation in some cases than their non-home-schooled peers, studies show. The 20-year-old Taylor wants to make his mother proud by becoming a pediatrician or an anesthesiologist. Data comparing home-schooled students’ scores and skills to his non-home-schooled peers show that his mother’s investment might already be worth it.

The home-schooling choice

Lisa Taylor, Cade Taylor’s mom, didn’t initially plan on home-schooling her kids.

Years ago, she was in college herself, majoring in biology and English, with plans to go on to graduate school, when she had her first baby – a little girl who was diagnosed with Down syndrome. From that point on, her life changed.

Parents choose to home-school their children for a variety of reasons: they like the freedom of setting their own schedule, they like having a flexible curriculum or they have ideals not being met by a standard school setting. Lisa Taylor did it because she thought it would be fun. For the most part, she says she was right.

“Especially if you start when they are young, it becomes your lifestyle; it becomes something you do,” Lisa Taylor said on a recent fall afternoon from her home in Herriman, Utah. “There are some days that aren’t as fun as others. And there are some days when you think, ‘Why am I doing this? I could be out shopping someplace.’ “

Even though Lisa Taylor didn’t initially plan on being a home-school mom, her family fits the mold of home-schoolers pretty well. Families that home-school their children generally have more formal education than the general population, according to “Homeschooling Across America: Academic Achievement and Demographic Characteristics,” a study published in 2009 by the National Home Education Research Institute. The study was commissioned by the Home School Legal Defense Association, a nonprofit group that promotes home-schooling across the country. According to the study, 66.3 percent of fathers and 62.5 percent of mothers had a bachelor’s degree or higher.

Read more: http://www.sj-r.com/article/20131030/NEWS/310309905/0/SEARCH#ixzz2uTDstOQ6

7 Myths About the FAFSA and Applying for Financial Aid

Posted on January 3, 2014 by Guest Blogger

myths

I’m currently a junior in college, which means the 2014-15 Free Application for Federal Student Aid (FAFSASM) will be the last time I complete the FAFSA. However, my sister is going to be starting college in the fall and will be filling out the FAFSA for the first time. Luckily for her, she’ll have me to help her along the way.

Looking back to the first time I completed the FAFSA, I remember some misconceptions that I had about filling it out —and some of my friends had the same ones. Turns out these myths weren’t true. The FAFSA really is an easy-to-complete, online application that will help you plan for and finance your education.

I wanted to share some of these common myths about the FAFSA and applying for financial aid with you. You can also check out Federal Student Aid’s video that addresses these common myths!

  1. I won’t qualify for financial aid because my parents (or I) make too much money.
    Actually, there isn’t an income cutoff to qualify for financial aid. Your eligibility for financial aid is based on a number of factors and not just your or your parents’ income. Plus, many states and schools use your FAFSA data to determine your eligibility for their aid. Fill out the application and find out what you can get!
  2. I don’t have good grades, so I won’t be eligible for financial aid.
    Completing the FAFSA isn’t the same as applying to college. Most federal student aid programs don’t take your grades into consideration when you apply. Just remember, once you’re in college, you do need to maintain satisfactory academic progress  in order to continue receiving federal aid.
  3. I’m too old to qualify for financial aid.
    Federal student aid programs don’t take your age into consideration.
  4. The application is too hard to fill out!
    Since it’s available online, the FAFSA is easier than ever to complete. The form uses “skip logic,” so you are only asked the questions that are relevant to you. If you’ve filed your taxes, then you can transfer your tax return data into your FAFSA automatically. And as you go through the application, there will be guided assistance in the margins to help you answer each question. Plus, the FAFSA website has a Help page that addresses most frequently asked questions.
  5.   I have to wait until I (my parents) file taxes.
    Since some colleges have FAFSA deadlines that are before the tax filing deadline, it’s important to complete the FAFSA early. You can use estimates on your FAFSA by basing them off of last year’s taxes. After you file your taxes, you can log back into the FAFSA and input your updated tax information.
  6. I support myself, so I don’t have to include parent info.
    This is not necessarily true. Even if you support yourself and file taxes on your own, you may still be considered a dependent student for federal student aid purposes. You can determine your dependency status by answering these questions. If you are independent, you don’t need to include your parents’ information on your FAFSA. If you are dependent, you need to provide your parents’ information.
  7. I completed the FAFSA my freshman year, so I don’t have to complete it again.
    As I said, this will be my fourth time completing the FAFSA. You should complete the FAFSA each year you plan to attend college or career school.

What are you waiting for? Start your application now at www.fafsa.gov!

Mark Valdez is a student at Brown University and an intern with the Department of Education’s office of Federal Student Aid.

Needing Money for College – FAFSA!

 

7 Things You Need Before You Fill Out the FAFSA

If you need financial aid to help you pay for college, it’s important that you complete the Free Application for Federal Student Aid (FAFSA). The good news? The FAFSA is simpler than ever! Did you know that, on average, it only takes 23 minutes complete? That equates to roughly one episode of your favorite TV program, so no excuses about not having the time. Record that TV show and watch it later.  Click here for an alternate version of the video with an accessible player.

The 2014­­–15 FAFSA becomes available on January 1, 2014, at 12 a.m. Central Time. You can fill it out for FREE on the official government site, www.fafsa.gov. To speed up the FAFSA process, get prepared early. Here is what you’ll need to fill out the FAFSA:

  1. Your Federal Student Aid PIN* — In order to sign your FAFSA electronically, you’ll need a Federal Student Aid PIN. You can help to prevent processing delays by getting a PIN before you begin the FAFSA. Find out how to get a PIN and what to do if you forgot your PIN. It only takes a minute.
  2. Your social security number* — If you don’t know it, it can be found on your social security card. If you don’t have access to that, it may be on your birth certificate or permanent resident card. If you don’t have one of those, or don’t know where it is, ask your parent or legal guardian. If you’re a dependent student, you’ll need their help with portions of the FAFSA anyway. If you are not a U.S. citizen, you’ll also need your Alien Registration Number.
  3. Your driver’s license number — If you don’t have a driver’s license, then don’t worry about this step.
  4. Your tax records* — Use income records for the tax year prior to the academic year for which you are applying: so if you are filling out the 2014–15 FAFSA, you will need 2013 tax information. If you haven’t filed your taxes yet, you can always estimate the amounts using your 2012 tax return, just make sure to update your FAFSA once you file your 2013 taxes. If you have filed your taxes already, you may be able to automatically import your tax information into the FAFSA using the IRS Data Retrieval Tool.
  5. Records of your untaxed income* — This includes a whole bunch of variables that may or may not apply to you, like child support received, interest income and veterans non-education benefits.
  6. Records of all your assets (money)* — This includes savings and checking account balances, as well as investments like stocks and bonds and real estate.
  7. List of the school(s) you are interested in attending — The schools you list on your FAFSA will automatically receive your FAFSA results electronically. They will use your FAFSA information to determine the types and amounts of financial aid you may receive. You can list up to 10 schools on your FAFSA. If you’re applying to more than 10 schools, you can add more later. Be sure to list any school you’re considering, even if you’re not sure yet.

*If you’re a dependent student, you will need this information for your parent(s) as well.

Still have questions?

We’re here to help. Connect with us: StudentAid.gov/social.

Nicole Callahan is a new media analyst at the Department of Education’s office of Federal Student Aid.

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ASCD’s “2014: WHAT’S IN, WHAT’S OUT”

 

ASCD logo VIEW MOBILE/WEB VERSION HERE   | January 6, 2014
Capitol Connection
2014: What’s In, What’s OutAs we begin the new year, Capitol Connection bids adieu to the compelling people, policies, and activities of 2013, and predicts their likely successors that will command our attention in 2014.

IN OUT
A-F AYP
[insert state name here] College and Career Ready Standards Common Core
Tablets Textbooks
White suburban moms Top-down reform
Carmen Farina John Deasy
Concussion protocol Getting your bell rung
Smarter Balanced PARCC
Primary challengers General election
Student privacy Data mining
Sassy Sunny Big Brother Bo
Shanghai Finland
Coding Keyboarding
Waiver waivers Waivers
Locally sourced Organic
Early education Higher education
Bipartisan Budget Act Sequestration cuts
John White Tony Bennett
Snow in Sochi Snow in the Meadowlands
Flipped learning Stand and deliver
A functioning Congress (fingers crossed!) Government shutdowns

ASCD’s public policy team wishes you a very happy new year!

 

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7 Board Games That Teach Math Skills (and are actually FUN)!

By: Samantha Oestreicher, guest writer

Editor’s note: Samantha is a college math teacher who also writes a blog entitled, “Social Mathematics.” She offered to share some of her expertise with us here at Engaged Family Gaming and we couldn’t pass it up! Read on for some excellent examples of board games that teach math concepts without being all “teachy” about it!

There is a lot of pressure from the media and from peers to believe that math is painful. Sometimes adults try to dress up mathematics to make it look like“a game”. As a gamer, I have been really disappointed in these dressed up math practice games because they miss the point of what a game really is. Instead they are loosely veiled attempts to manipulate kids to use math in a “fun” way.

All is not lost though, great games do exist that use mathematical thinking and math skills. The following is a list of fun games that can inspire mathematical thinking. I have compiled a list of seven wonderful board games for gaming families which can be enjoyed by parent and child alike which also include mathematical thinking.

  1. Set 5+ (grouping/sorting)

Set is an amazing card game! This is a game that your 6-year-old will be better at than you are. I’m not kidding; kids totally rock this game. This is a matching game that can be played solo or with any sized group. The rules are relatively simple. The cards each have a certain number of shapes on them of a particular color and pattern. A set is three cards which all have the same type of an attribute or miss-match an attribute. Perhaps a set is three cards all have ovals with a striped pattern on them but each card has a different number of shapes (1, 2, and 3) and different colored (purple, green and red). Pro tip: Sometimes there isn’t a set available in the cards on the table. When I play set with undergraduate math majors I ask them to prove to me why there isn’t a set. Challenging older kids to explain why is excellent mathematical practice! This game fits in your purse or stroller and is perfect for a quick distraction and only requires a small table (or floor) of space.

  1. Rummikub 7+ (Numerals/grouping/relationships)

Rummikub is a 2-4 player classic game with lots of tiles to play with and sort. While Rummikub is also about color/number matching, it is more advanced than Set because you can re-organize the board. The matching rules are similar to Set, but now all the collections of tiles stay out on the table and you can steal from already created collections to make a new one. Worst comes to worst, the tiles are fun to play with and you can build things with them! This is a great game to play at home or at the end of the day on a vacation.

  1. Connect Four 7+ (planning/pattern recognition/Loud pieces!)

Every family needs a noisy, clattering, pieces-get-everywhere kind of a game. Connect Four is a childhood classic that supports geometric thinking, planning and pattern recognition. It is a two player game and great for two children to play together. Basically, Connect Four is an advanced version of tic-tac-toe. I do not recommend taking this game out of your home as you will surely lose pieces. This is a great game to entertain the kids while you are finishing dinner or something.

  1. 20 Express 8+ (consecutive numbering/planning)

This game is great for parents to play with your kids! It’s a number game which focuses on consecutive ordering. The scoring may take parental involvement as it is a little weird at first sight. However, the cool part about this game is that everyone tries to organize the same numbers at the same time. So you, as a parent, can compare answers with the other players. “Oh, that was a good choice, I didn’t think to do it that way!” The only negative to 20 Express is that it obviously uses math and that may turn off some kids. This game is good for traveling as it doesn’t require a central table and any number of people can play at once. Each player just needs a pen and something to write on.

  1. Ticket To Ride 8+ (counting/planning)

This game is really fun! It is a time commitment (maybe an hour once everyone knows the rules) and requires a big table. There are lots of little train pieces that you get to place on the board when you build railroad tracks between cities on the map. I don’t recommend this game if you have a cat or child who likes to jump on the table and mess up the board. This 2-5 player game requires business optimization similar to operations research. There is no money, but you have to collect cards which include restrictions on where you are allowed to build. This game requires a longer attention, but is full of bright colors and will definitely be just as fun for the parents as the children!

  1. Rush Hour 8+ (problem solving/ spatial awareness)

Rush Hour is one player, portable, colorful, and mentally wonderful. The board is small and packed with vehicles which have set directions that they can move. The goal is to move the vehicles in a particular order to get the little red car out of the traffic jam. A negative is that every piece is important. Don’t lose them! This game is great for waiting rooms or car trips as it comes with its own board and it small enough to hold in a child’s hand or lap.

  1. Sumoku 9+ (addition/multiplication)

Sumoku is a math-centric game for 1-8 players. Think of it as Scrabble/Bananagrams for numbers. You add to the existing tile layout based on a specific mathematical goal. For example, every row must add to a multiple of 3. This is a great game to support a young mathematical thinker because along with practicing basic computational skills, the player is also planning and matching. Unlike Bananagrams, there is no element of speed, so young players may take as long as necessary to check their math before they place their tiles. Like 20 Express, this game obviously uses mathematics. But, I believe Sumoku is interesting and dynamic enough to provide entertainment to the whole family. This game is easy to transport and requires a central table.

My recommendation is that, if you only buy one of these games, get Set. Then I would pick up Ticket to Ride. After that your choices should depend on you and your children’s interests. And remember that your involvement always improves the quality of the game. Mathematical thinking requires self reflection and the ability to collaborate. Challenge your kids to explain why they made a particular choice or ask them to help you with your move.

Happy Gaming!

Math Games at Home

Looking for educational and fun computer games for children?

Here are a few links:

  • http://www.ixl.com/math/
  • http://www.coolmath4kids.com
  • http://www.mathplayground.com/games.html
  • http://www.hoodamath.com/games/
  • http://www.softschools.com/math/games/

Don’t let their brains turn to mush.  Brains need exercise just like bodies needs exercise!  Use this break to help students catch up or get ahead with math practice!

GO GO GO!

 

Emotional First Aid Means Summoning Compassion and Taking Perspective

The Seven Habits of Highly Emotionally Healthy People

How to treat psychological injuries and improve emotional resilience
Published on July 9, 2013 by Guy Winch, Ph.D. in The Squeaky Wheel

Most of us pay close attention to our health and we treat threats to our physical well-being as soon as they occur. We dress warmly when we feel a cold coming on, we apply antibacterial ointments and bandages to cuts and scrapes, and we don’t pick at scabs as they heal. We sustain psychological injuries in life just as often as we do physical ones, but we are much less proactive about protecting our psychological well-being, than we are our physical well-being. Adopting the following seven habits and ‘treating’ common psychological injuries when they occur will help protect your mental health and improve your emotional resilience.

1. Gain Control after a Failure: Failure distorts our perceptions such that our goals seem more out of reach and our capacities seem less up to the task. Once we feel as though there is little we can do to succeed, we become demoralized and lose our motivation. Adopt the habit of ignoring this misleading ‘gut’ reaction and make a list of the many factors related to your goal that were in your control (e.g., effort, preparation, planning, different approaches you could have taken, and others). Then, consider how you might go about improving each of these factors. Doing so will not only combat defeatist misperceptions, it will drastically improve your chances of future success.

2. Find Meaning in Loss and Trauma: One of the main factors that distinguishes those who thrive emotionally after experiencing loss or trauma from those who do not, is their ability to eventually find meaning in their experiences and to derive purpose from them. Of course, doing so takes time, as does the process of grieving and adapting to new realities. However, adopting the habit of searching for ways to recognize not just what you’ve lost, but what you’ve gained as well, will allow you to develop new appreciations for your life and the people in it, to make important changes, and to find value, meaning, and purpose even if you lacked them before.

3. Disrupt the Urge to Brood and Ruminate: When we brood over distressing events we rarely gain insight into them. Instead, we replay upsetting or angering scenarios in our heads, which only increases our urge to brood and makes us feel worse (read more about the dangers of brooding here). Therefore, despite how compelling the urge to brood is, adopt the habit of disrupting the brooding cycle as soon as you catch yourself ruminating about the events in question. The best way to do this is to distract yourself with a task that requires concentration—such as a game of Sudoku, trying to recall the exact order of the stations on your bus/subway line, or watching an absorbing show.

4. Nurture Your Self-Esteem: Our self-esteem fluctuates such that we feel better about ourselves some days than we do others. But many of us become self-critical when we’re feeling bad, essentially kicking our self-esteem when it’s already down. To improve your mental health, adopt the habit of regarding your self-esteem as an ‘emotional immune system’ that needs to be nurtured back to health when it’s ailing (read more about that here). The best way to ‘heal’ damaged self-esteem is to practice self-compassion. When you have self-critical thoughts, consider what you would do if a dear friend had similar feelings. Write out what you would say to them in an email if you wanted to express compassion and support. Then read the email as if they had sent it to you.

5. Revive Your Self-Worth after a Rejection: Rejections are so hurtful we often try to make sense of our emotional pain by finding fault in ourselves. Our reasoning is that if we hurt so much, we must be really weak/pathetic/a loser/unworthy/fragile/unlovable, etc… Rejection hurts as it does not because there’s something wrong with us but because of how our brains are wired (read more about that here). The best way to ease emotional pain and revive your self-worth after a rejection is to adopt the habit of affirming aspects of yourself you value, qualities you possess that you find meaningful (e.g., loyalty, compassion, creativity, or a strong work-ethic). Make a list of such attributes, choose one or two and write a short essay about why the quality is important to you.

6. Combat Loneliness by Identifying Self-Defeating Behaviors: Chronic loneliness is much more common then we realize and it has a devastating impact on our emotional and physical health (read how loneliness can shorten your life-expectancy here). The problem is that once we feel lonely, we often act in ways to minimize the risk of further rejection by unconsciously engaging in self-defeating behaviors and sabotaging opportunities to make new social connections or to deepen existing ones. The best way to combat loneliness is to adopt the habit of identifying and challenging these self-defeating behaviors. Make a list of excuses you’ve used to avoid taking initiative in social situations (e.g., I won’t know anyone at the party so why go? They don’t call me so why should I call them? They’re probably too busy to meet up. I can’t just introduce myself to a stranger at a cocktail party). Now make a list of people whose company you’ve enjoyed in the past (go through your phone book, Facebook friends, and Email contacts) and reach out to one or two of them each day to initiate plans until your social calendar is full. Challenge yourself to avoid using excuses from your list when you feel anxious.

7. Shed Excessive Guilt by Repairing Damaged Relationships: Excessive guilt occurs when our actions or inactions have harmed another person (most often a close friend or relative) who has not forgiven us for our wrongdoing. Such situations usually have more to do with the inadequacies of our apologies than with the inability of the other person to ‘let go’ of their hurt. Indeed, the crucial ingredient an effective apology requires—and the one we most often miss—is empathy. For the other person to truly forgive you, adopt the habit of conveying effectiveapologies when you’ve done wrong. To do so, make sure the other person feels you totally ‘get’ how they felt as well as how they were impacted by your actions (read more about rendering effective apologies here). Once you’ve expressed adequate empathy, the other person is much more likely to feel your apology is sincere and to convey authentic forgiveness. Your guilt will dissolve soon thereafter.

For more about habits that will improve your emotional resilience and strengthen your mental health, check out my new book, Emotional First Aid: Practical Strategies for Treating Failure, Rejection, Guilt, and Other Everyday Psychological Injuries (Hudson Street Press, 2013).

Click here to join my mailing list and receive and exclusive gift: How to Recover from Rejection

Copyright 2013 Guy Winch

Follow me on Twitter @GuyWinch

LEARN ABOUT CPM – College Preparatory Mathematics

  •  http://www.cpm.org for more information

CPM Educational Program is an educational non-profit organization dedicated to improving grades 6-12 mathematics instruction.

CPM offers professional development and curriculum materials.

CCA

CPM Educational Program strives to make middle school and high school mathematics accessible to all students. It does so by collaborating with classroom teachers to create problem-based textbooks and to provide the professional development support necessary to implement them successfully.

CPM (College Preparatory Mathematics) began as a grant-funded mathematics project in 1989 to write textbooks to help students understand mathematics and support teachers who use these materials. CPM is now a non-profit educational consortium managed and staffed by middle school and high school teachers that offers a complete mathematics program for grades six through 12 (Calculus).

CPM provides:

    • Professional development programs for CPM and non-CPM teachers
    • Curriculum materials (standards- and researched-based) that use problem-based lessons, collaborative student study teams and spaced practice with course concepts.
    • Learning strategies that are consistent with the CCSS “Standards for Mathematical Practices” and other models such as the strategies identified as effective by Dr. Robert Marzano at McRel.
  • CPM courses are used in 35 states. In the past 20 year more than 5,000,000 students have taken CPM courses and more than 10,000 teachers have attended CPM professional development workshops. CPM opens its workshops at no cost to everyone: teachers, administrators, ELL educators, student teachers, and parents. In a typical year workshops are held at about 40 national sites and one or more international sites such as Hong Kong. CPM teachers, current and retired, lead the seven days of implementation workshops that begin in the summer and continue during the school year. Additional workshop support, various coaching models and individual mentoring are available by contracting with CPM.

Money 101: It’s Elementary

As appeared in Northern Trust – Wealth Magazine 

Once kids start asking for things they see in the store or on TV, it’s not long before most parents hammer home their first personal finance lesson: Money doesn’t grow on trees. From there, how can we teach them other basic money concepts?

Children as young as 3 can be introduced to money, and by age 10, they can even manage a simple savings account and budget, says Ann Freel, director of Family Education and Governance Services for Northern Trust.

Consider these eight ideas to teach your younger kids to save money, spend it wisely and watch it grow – just not on trees.

1. Use money to teach kids about math, and vice versa. Introduce your youngest kids to money as they learn to count. Once they can subtract, kids can make change. When they learn percentages, they can figure out an appropriate tip for a restaurant server. “This is also a great opportunity to share a bit of wisdom about financial etiquette and being gracious to those who provide service,” Freel says.

2. Help kids understand the difference between needs and wants. Be mindful of how you talk about purchasing decisions and your own wants and needs. As children get older, Freel suggests explaining the choices you make, including tradeoffs, from grocery staples to vacation destinations. This helps share your family’s priorities and values regarding money.

3. Don’t stop at just one piggy bank. As soon as kids start acquiring money from grandparents, the Tooth Fairy and other sources, they can learn to make allocation decisions instead of throwing it into one pot. “One way is to give them three separate banks for their money: one for saving, one for spending and one for charitable giving, if that’s a family priority,” Freel says. “Tell them what each bank is for, using specific examples that gently and positively reinforce family expectations.”

Around ages 8-10, some parents ask their children to contribute part of their savings for a special item they want. Others incentivize saving or giving by matching the amounts their children put aside for these purposes.

4. Give kids earning opportunities. However you feel about allowance, children should have opportunities to make money so they can learn how it relates to time and effort. Make a list of age-appropriate tasks – separate from normal household responsibilities – with corresponding dollar amounts children can earn. Offer a variety of jobs and amounts. Gathering laundry could earn some quick cash for the ice cream truck, while a larger job, such as weeding the flower beds, could help kids earn spending money and pad their savings. “One error families may make is creating all big earning tasks,” Freel says. “This age group has a short attention span. Keep the tasks relatively simple so kids find the experience of earning money a positive and achievable one.”

5. Address income discrepancies. At a young age, children start to notice the differences between their home and belongings, and others’ possessions. As they begin to associate effort with money, they might draw the conclusion that the less wealthy don’t work as hard. “Explain to them that some people take jobs that pay less for a lot of different reasons,” Freel says.

Explore some of the simpler ones, such as passions and preferences, with younger children. Trickier reasons like educational disadvantages can be addressed at an older age. “During these conversations, parents should also share their thoughts about what is more important than money in their family – for example, liking friends for who they are rather than what they have,” she says.

6. Open a savings account in your child’s name. This can be an excellent way to teach kids from 8-10 what interest is and how it works. Demonstrate the interest they will earn on their savings account – for example, 1% monthly interest – using a dollar bill and a penny. “Additionally, children should understand how important it is to save their money in a safe place like a bank,” Freel says. Explain that bank-related paperwork contains sensitive information that needs to be kept secure.

If kids want to occasionally withdraw a portion of their savings to buy something, discuss it but don’t forbid it. For kids under 10, making their account seem like a black hole might discourage them from depositing.

7. Introduce the concept of credit. When you swipe plastic, there’s no visible exchange of money for goods. Early on, explain to kids that the credit card substitutes for money you already have in the bank and that there’s only so much of it. Later, explain credit card payments as borrowed money you have to pay back with interest and fees if you don’t do so on time.

8. Involve kids in household finances. Kids as young as 9 or 10 can develop a sense of stewardship by managing, or at least keeping an eye on, parts of the family budget – particularly parts that are personal and relatable to them. For example, ask a child to help create a realistic budget for one of their sports or hobbies that the family can track together. Share the prior year’s costs, such as weekly lessons, uniforms and travel. Then have the kids factor in incidentals and optional expenses like concession stand treats, team photos and equipment upgrades.

Turn Family Time Into Financial Education

By setting aside time for family members to manage their financial lives together, you can reinforce practical skills and find more opportunities to instill your family’s “money values.” Consider these tips:
  • Make it normal, casual and regular. Some families designate one Friday a month as “budget night,” during which family members review their monthly saving, spending and giving over their favorite pizza.
  • Keep it age appropriate and engaging, using websites and worksheets for younger children.
  • Use these meetings to plan vacations, discuss major household purchases, and establish financial priorities and expectations as a family.

In short, help children learn about financial matters from an early age by looking for teachable “money moments” in your family’s day-to-day life. Give children plenty of financial practice when they’re young, rather than waiting until they’re older.

“Young kids are fascinated by how the adult world works, so parents can leverage this natural interest by starting financial education and financial conversations at a young age,” Freel says. “Children who have early, positive experiences building their own ‘nest egg,’ and then making choices about how to use it, tend to be more responsible with money as they grow older.”

– See more at: https://wealth.northerntrust.com/wealth-management/money-101-its-elementary#sthash.JIgvNfNe.dpuf

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