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Student and Educator
Student and Educator
Financial Literacy
Financial literacy is vital for saving, earning, investing, and protecting money wisely, leading to improved financial well-being. Transitioning from adolescence to young adulthood is critical for developing executive function skills, making informed financial decisions, and establishing sound money habits. This phase shapes financial knowledge and decision-making abilities, setting a strong foundation for managing finances effectively in daily life and securing future well-being.Parents, educators, and community leaders play a significant role in guiding young adults through this crucial phase. Financial literacy education can be integrated into school curricula, after-school programs, and community workshops, providing a structured environment for learning. Interactive tools such as budgeting apps, online courses, and financial simulators can also engage young adults, making the learning process both dynamic and practical.
Spotlight
Furthermore, fostering an open dialogue about money within families can demystify financial concepts and reduce anxiety around financial matters. Parents can model good financial behaviors, share their experiences, and involve their children in financial planning and decision-making processes. This transparency can build trust and reinforce positive financial habits.
By combining formal education, practical experiences, mentorship, and open family discussions, we can empower young adults to become financially literate individuals. This holistic approach not only equips them with the knowledge and skills needed for financial success but also instills confidence and resilience, enabling them to thrive in an increasingly complex financial world.
A DEVELOPMENTAL MODEL
Children Handbook (Ages 3-5)
- During this stage, children start establishing the fundamental skills associated with executive function.
- Basic values and attitudes linked to financial concepts start taking shape.
- Children start grasping mathematical concepts and number skills essential for financial literacy.
Printable Resources
Digital Games
Earning It
Balance My Budget
Money Trail
Middle Childhood and Teens Handbook (Ages 6-14)
- Development of executive function skills and behaviors progresses.
- Formation of financial habits and norms becomes prominent, influenced by the observation of family members and peers' interactions with money, shaping children's independent identities.
- Introduction to fundamental concepts of money management occurs during this stage.
Teens and Young Adulthood Handbook (Ages 14-21)
- The maturation of executive function persists.
- Money-related habits and norms evolve.
- Young individuals enhance their financial knowledge and decision-making abilities, which become increasingly significant in their daily routines.
Financial Literacy Activities for All Ages
Want to gauge your financial capability?
Take the online Financial Literacy Quiz to test your money smarts.
Know how to spot the red flags of investment fraud? Complete Investor Fraud Awareness Quiz online to find out.
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Additional Resources
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Grant Opportunities for Program Delivery
For Libraries:
Non-Profits and Local School Agencies:
Securities Education Trust Fund (SETF) by LARA (Emphasis in Securities Investments Education)
File a Complaint
You can file a complaint online with the Michigan Commercial Licensing Enforcement and Regulation System - MiCLEAR
NASAA has provided this information as a service to investors. It is neither a legal interpretation nor an indication of a policy position by NASAA or any of its members, the state and provincial securities regulators. If you have questions concerning the meaning or application of a particular state law or rule or regulation, or a NASAA model rule, statement of policy or other materials, please consult with an attorney who specializes in securities law. For more investor alerts and advisories, visit www.nasaa.org.
The information provided on this website is not comprehensive, is not offered as legal or investment advice, and is not a substitute for competent legal or financial counsel. The Securities Division provides this information to give you an overview of the topics discussed. You should not rely on the accuracy of this information but should carefully review all applicable statutes and regulations with the assistance of legal counsel.
Contact Us
Department of Licensing and Regulatory Affairs (LARA)
Corporations, Securities & Commercial Licensing Bureau (CS&CL)
Securities and Audit Division
Address: PO Box 30018, Lansing, MI 48909
Overnight Mail (FedEx/UPS): 2407 N. Grand River Ave, Lansing, MI 48906
Phone: (517) 335-5237
Fax: (517) 763-0039
Email: LARA-CSCL-Securities-Audit@michigan.gov