1
Money Smart News Spring 2008
IN THIS ISSUE
Message from the FDIC
FDIC Issues Money Smart for
Young Adults
Passing the Test: Success Sto-
ries and Tips for Teaching Kids
About Money
Updated Money Smart Curricu-
lum Now Available in Four For-
eign Languages
The FDIC at 75: How It Pro-
tects Consumers and How
Consumers Can Protect Them-
selves
FDIC Highlights Financial Edu-
cation Efforts During Ob-
servance of National Consumer
Protection Week
Supplemental Resources in
Computer-Based Money Smart
Curriculum are Updated, En-
hanced
FDIC Highlights Bank Strate-
gies for Encouraging Low– and
Moderate-Income Households
to Save
Encouraging Seniors and Other
Federal Benefit Recipients to
Use Direct Deposit
Message from the FDIC
From the start of FDIC's Money Smart program in 2001, our main focus has been fi-
nancial education for adults. In the last seven years, more than a million
people have benefited from Money Smart -- including many who did not fit
our original "target audience." I'm referring to the hundreds of students in
middle schools, high schools and colleges all across America who have
received Money Smart training thanks to creative and dedicated teachers
who took our materials for adults and molded them into financial literacy
resources for youths.
Now the FDIC will be doing even more to help educate young consumers -- we have
issued Money Smart for Young Adults specifically for students aged 12 through 20,
those formative years that are ideal for learning how to save for their future, buy intelli-
gently and avoid excessive debt. We invite schools, universities and others involved in
financial education for youths to make use of this new FDIC curriculum, which is free of
charge. Read more in this issue of Money Smart News, including special tips for edu-
cators from the FDIC.
Here you can also read about other ways the FDIC is enhancing or updating our finan-
cial education products. For example, the FDIC has released four updated foreign
translations of the instructor-led Money Smart curriculum. And, the latest issue of our
quarterly FDIC Consumer News can help educators explain how and why the FDIC
started 75 years ago and how people can benefit from the many services the FDIC of-
fers today.
As always, if you're interested in learning more about the FDIC's education programs
or if you'd like to offer a suggestion, please contact your FDIC Regional Community
Affairs Officer We want to serve you. And we want to hear from you.
Sandra L. Thompson
Director
FDIC Division of Supervision and Consumer Protection
FDIC Issues Money Smart for Young Adults
The FDIC has built upon the award-winning Money Smart curriculum that has reached
over one million adults by making available Money Smart for Young Adults, a version
targeted for ages 12 to 20. This instructor-led curriculum is targeted to middle and high
school students; it is aligned with state educational standards so that teachers can
quickly assess how Money Smart for Young Adults can fulfill curriculum or state educa-
tion requirements. The FDIC curriculum consists of age-relevant versions of eight mod-
ules covering topics such as budgeting and managing a credit card, and it includes vis-
ually appealing overheads and participant guides. (To order a CD containing the
new Money Smart for Young Adults curriculum, go to: http://www.fdic.gov/consumers/
consumer/moneysmart/young.html. For examples of how the original Money
Smart curriculum is successfully being used to teach young people about money man-
agement, see the next item below.)
Money Smart News Spring 2008
IN THIS ISSUE
Message from the FDIC
FDIC Issues Money Smart for
Young Adults
Passing the Test: Success Sto-
ries and Tips for Teaching Kids
About Money
Updated Money Smart Curricu-
lum Now Available in Four For-
eign Languages
The FDIC at 75: How It Pro-
tects Consumers and How
Consumers Can Protect Them-
selves
FDIC Highlights Financial Edu-
cation Efforts During Ob-
servance of National Consumer
Protection Week
Supplemental Resources in
Computer-Based Money Smart
Curriculum are Updated, En-
hanced
FDIC Highlights Bank Strate-
gies for Encouraging Low– and
Moderate-Income Households
to Save
Encouraging Seniors and Other
Federal Benefit Recipients to
Use Direct Deposit
Message from the FDIC
From the start of FDIC's Money Smart program in 2001, our main focus has been fi-
nancial education for adults. In the last seven years, more than a million
people have benefited from Money Smart -- including many who did not fit
our original "target audience." I'm referring to the hundreds of students in
middle schools, high schools and colleges all across America who have
received Money Smart training thanks to creative and dedicated teachers
who took our materials for adults and molded them into financial literacy
resources for youths.
Now the FDIC will be doing even more to help educate young consumers -- we have
issued Money Smart for Young Adults specifically for students aged 12 through 20,
those formative years that are ideal for learning how to save for their future, buy intelli-
gently and avoid excessive debt. We invite schools, universities and others involved in
financial education for youths to make use of this new FDIC curriculum, which is free of
charge. Read more in this issue of Money Smart News, including special tips for edu-
cators from the FDIC.
Here you can also read about other ways the FDIC is enhancing or updating our finan-
cial education products. For example, the FDIC has released four updated foreign
translations of the instructor-led Money Smart curriculum. And, the latest issue of our
quarterly FDIC Consumer News can help educators explain how and why the FDIC
started 75 years ago and how people can benefit from the many services the FDIC of-
fers today.
As always, if you're interested in learning more about the FDIC's education programs
or if you'd like to offer a suggestion, please contact your FDIC Regional Community
Affairs Officer We want to serve you. And we want to hear from you.
Sandra L. Thompson
Director
FDIC Division of Supervision and Consumer Protection
FDIC Issues Money Smart for Young Adults
The FDIC has built upon the award-winning Money Smart curriculum that has reached
over one million adults by making available Money Smart for Young Adults, a version
targeted for ages 12 to 20. This instructor-led curriculum is targeted to middle and high
school students; it is aligned with state educational standards so that teachers can
quickly assess how Money Smart for Young Adults can fulfill curriculum or state educa-
tion requirements. The FDIC curriculum consists of age-relevant versions of eight mod-
ules covering topics such as budgeting and managing a credit card, and it includes vis-
ually appealing overheads and participant guides. (To order a CD containing the
new Money Smart for Young Adults curriculum, go to: http://www.fdic.gov/consumers/
consumer/moneysmart/young.html. For examples of how the original Money
Smart curriculum is successfully being used to teach young people about money man-
agement, see the next item below.)
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Passing the Test: Success Stories and Tips for Teaching Kids About Money
In the latest installment of our "Success Stories" -- and in conjunction with the release of the new Money Smart for
Young Adults -- we offer examples of creative and successful ways that Money Smart has been taught to young people
(primarily middle and high school students) and tips for effectively teaching kids about money. (Read the stories and
tips.)
Updated Money Smart Curriculum Now Available in Four Foreign Languages
The recently revised instructor-led Money Smart curriculum is now available in Spanish, Chinese, Korean and Vietnam-
ese. Educators who previously ordered the curriculum in these foreign languages are encouraged to obtain a copy of the
latest version. The curriculum can be ordered online at http://www2.fdic.gov/MoneySmartRegister/.
The FDIC at 75: How It Protects Consumers and How Consumers Can Protect Themselves
Even though the FDIC was created 75 years ago, consumers may not fully understand how the agency serves them and
how to benefit from the FDIC's products and services. The Winter 2007/2008 issue of our quarterly FDIC Consumer
News features tips and information to remind consumers how the FDIC protects their money, as well as suggestions for
fine-tuning personal finances and an update on help for mortgage borrowers having repayment problems. The FDIC en-
courages financial institutions, financial educators and other parties to make the information in FDIC Consumer
News widely available, including reprinting or linking to the material and making copies with their name, logo, a special
message and/or self-mailing information. Financial educators can use FDIC Consumer News as a resource for useful
consumer information. Educators and their students can sign up for a free subscription and see current and back issues
online. (See the latest newsletter and subscription information.)
FDIC Highlights Financial Education Efforts During Observance of National Consumer Pro-
tection Week
No matter what a person's age or financial situation, it's important to learn the financial facts of life. The FDIC, in ob-
servance of National Consumer Protection Week (March 2-8) and its theme of financial literacy, reminded the public
about the agency's wide range of programs and services designed to help consumers make smarter decisions about
managing their money.
Supplemental Resources in Computer-Based Money Smart Curriculum are Updated, En-
hanced
In our Winter 2008 issue, we reported that the FDIC has updated and enhanced the computer-based instruction (CBI)
version of Money Smart that enables students to complete the educational curriculum at their own pace and anywhere
they have access to a computer. (To access or order the new CBI version online go to: http://www.fdic.gov/consumers/
consumer/moneysmart/mscbi/mscbi.html.) One of the easily overlooked features of the CBI curriculum is the
"Information Booth," a collection of supplemental material on topics ranging from budgeting to shopping for credit. This
material, which has also been updated, provides additional guidance on more than 100 topics. (To read or print Infor-
mation Booth material go to: http://69.0.254.19/wwMS/english/InfoBooth/index.htm.)
FDIC Highlights Bank Strategies for Encouraging Low- and Moderate-Income Households to
Save
An article in the FDIC Quarterly (2008, Volume 2, Number 1) examines the challenges that lower-income households
face in increasing personal saving, incentives banks have for encouraging these households to build assets, and strate-
gies for banks to broaden their relationships with these customers. The article describes several strategies that banks
have used to develop asset-building programs for lower-income households, including partnerships with other organiza-
tions (such as government agencies, nonprofits and schools) and providing free or low-cost financial education classes.
(Read more)
Encouraging Seniors and Other Federal Benefit Recipients to Use Direct Deposit
Nearly 60,000 Treasury-issued checks were forged in fiscal year 2007 -- totaling an estimated $56 million. If you're a
financial educator, consider encouraging Social Security and other federal benefit recipients to switch to direct deposit –
it's safer and easier. Signing up for direct deposit is free through the U.S. Department of the Treasury's Go Di-
rect helpline (800) 333-1795 and online at www.GoDirect.org. To order free materials or learn more, call 952-346-6055
or go to: http://www.godirect.org/partners/index.cfm.
Money Smart News Spring 2008
Passing the Test: Success Stories and Tips for Teaching Kids About Money
In the latest installment of our "Success Stories" -- and in conjunction with the release of the new Money Smart for
Young Adults -- we offer examples of creative and successful ways that Money Smart has been taught to young people
(primarily middle and high school students) and tips for effectively teaching kids about money. (Read the stories and
tips.)
Updated Money Smart Curriculum Now Available in Four Foreign Languages
The recently revised instructor-led Money Smart curriculum is now available in Spanish, Chinese, Korean and Vietnam-
ese. Educators who previously ordered the curriculum in these foreign languages are encouraged to obtain a copy of the
latest version. The curriculum can be ordered online at http://www2.fdic.gov/MoneySmartRegister/.
The FDIC at 75: How It Protects Consumers and How Consumers Can Protect Themselves
Even though the FDIC was created 75 years ago, consumers may not fully understand how the agency serves them and
how to benefit from the FDIC's products and services. The Winter 2007/2008 issue of our quarterly FDIC Consumer
News features tips and information to remind consumers how the FDIC protects their money, as well as suggestions for
fine-tuning personal finances and an update on help for mortgage borrowers having repayment problems. The FDIC en-
courages financial institutions, financial educators and other parties to make the information in FDIC Consumer
News widely available, including reprinting or linking to the material and making copies with their name, logo, a special
message and/or self-mailing information. Financial educators can use FDIC Consumer News as a resource for useful
consumer information. Educators and their students can sign up for a free subscription and see current and back issues
online. (See the latest newsletter and subscription information.)
FDIC Highlights Financial Education Efforts During Observance of National Consumer Pro-
tection Week
No matter what a person's age or financial situation, it's important to learn the financial facts of life. The FDIC, in ob-
servance of National Consumer Protection Week (March 2-8) and its theme of financial literacy, reminded the public
about the agency's wide range of programs and services designed to help consumers make smarter decisions about
managing their money.
Supplemental Resources in Computer-Based Money Smart Curriculum are Updated, En-
hanced
In our Winter 2008 issue, we reported that the FDIC has updated and enhanced the computer-based instruction (CBI)
version of Money Smart that enables students to complete the educational curriculum at their own pace and anywhere
they have access to a computer. (To access or order the new CBI version online go to: http://www.fdic.gov/consumers/
consumer/moneysmart/mscbi/mscbi.html.) One of the easily overlooked features of the CBI curriculum is the
"Information Booth," a collection of supplemental material on topics ranging from budgeting to shopping for credit. This
material, which has also been updated, provides additional guidance on more than 100 topics. (To read or print Infor-
mation Booth material go to: http://69.0.254.19/wwMS/english/InfoBooth/index.htm.)
FDIC Highlights Bank Strategies for Encouraging Low- and Moderate-Income Households to
Save
An article in the FDIC Quarterly (2008, Volume 2, Number 1) examines the challenges that lower-income households
face in increasing personal saving, incentives banks have for encouraging these households to build assets, and strate-
gies for banks to broaden their relationships with these customers. The article describes several strategies that banks
have used to develop asset-building programs for lower-income households, including partnerships with other organiza-
tions (such as government agencies, nonprofits and schools) and providing free or low-cost financial education classes.
(Read more)
Encouraging Seniors and Other Federal Benefit Recipients to Use Direct Deposit
Nearly 60,000 Treasury-issued checks were forged in fiscal year 2007 -- totaling an estimated $56 million. If you're a
financial educator, consider encouraging Social Security and other federal benefit recipients to switch to direct deposit –
it's safer and easier. Signing up for direct deposit is free through the U.S. Department of the Treasury's Go Di-
rect helpline (800) 333-1795 and online at www.GoDirect.org. To order free materials or learn more, call 952-346-6055
or go to: http://www.godirect.org/partners/index.cfm.
Money Smart News Spring 2008