MFF 2018 3rd Quarter Newsletter

 In Blog

Volume 1/Issue 3

3rd Quarter 2018

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WHAT PARENTS ARE SAYING ABOUT MFF

“Thank you for your work and leadership in training young minds for a lifetime of financial dealings, especially the importance of investing.”

  • – Brad – North Carolina

“My son has learned so much, but it has also been an extremely rewarding experience for me, watching him learn and enjoy himself so much.”

  • – Anne – California

“The content is well written and easy to comprehend. It provides an easy on-ramp for financial understanding. It is very easy to navigate and intuitive.”

  • – Keith – Illinois

ARE HIGH SCHOOLS TEACHING FINANCIAL LITERACY?

Champlain College published a 2017 National Financial Report Card on State Effort. The report measured how well high schools are providing personal finance education. The report found that out of the 50 states and the District of Columbia, 54% of all states earned a C, a D, or an F.

A – Require a half-year personal finance as a graduation requirement (5)

B – Require personal finance to graduate, but less time per student (19)

C or D – Some personal finance topics included in state requirements (16)

F – Few or no personal finance requirements (10 + Washington DC)

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Bruce Berk, MFF Academic Advisor

GRADING PAPERS AND CLEANING CAGES

I sat down with Bruce Berk, MFF Academic Advisor, who recently retired after 36 years as an educator. We discussed his views on education, what he’s learned from his involvement with Morgan Franklin, and how he is spending his newly acquired free time.

“In my experience teaching at a private school,” Bruce began, “we teach kids to be creative, analytic problem solvers and thinkers, but if you ask them about finances – how the stock market works, what is the federal reserve, how does compound interest work – students know very little. High schools that go the extra mile and offer a course in Financial Literacy find those courses undersubscribed. Why? Because colleges currently value AP calculus and AP Spanish over financial literacy.”

I asked Bruce how both he and his son become involved with Morgan Franklin Fellowship. “I heard about MFF when my wife had a conversation with the MFF Founder, Peter Morgan. As soon as Becky shared the details about the program I called to find out if we could get our son involved. I wanted my kids involved immediately! The MFF Financial Literacy Program doesn’t take a lot of time and it encourages teens to become financially aware and helps put them on a path to a long-term savings program – wow!”

When asked how he is enjoying retirement Bruce replied, “I’m having fun! I’m splitting my time between grading reports for MFF and cleaning cages at an animal shelter. Oh, and working on my golf game.” Bruce laughed. “Now if only MFF could help me with that!”

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Fast Facts About Financial Literacy

  • Percentage of companies that conduct a credit or financial background check as a condition of hiring or giving promotions. 25.9%
  • Percentage of high school students who select “money management” (over math, science or social studies) as the course that would benefit their lives the most. 51.4%
  • Percentage of girls ages 11 to 17 who feel “very confident” making financial decisions. 12%

“Money is such an amazing teacher. What you choose to do with your money shows whether you are truly powerful or powerless.”

Suze Orman, Founder of Suze Orman Financial Group, American Author and motivational speaker

DO YOU HAVE QUESTIONS ABOUT THE MFF PROGRAM?

If you are interested or if you have questions, please call MFF Executive Director, Melissa Gould, at 603-548-6028. Additional program information can be found on the MFF website at www.MorganFranklinFellowship.com.

FINANCIAL TIP

Eliminate wasteful spending. Learn what you really need, versus what you can do without.

Q: How can I become a Morgan Franklin Financial Fellow?

A: Apply by downloading a Financial Mentor application on the MFF website – www.MorganFranklinFellowship.com

Q: What is the best age for a child to apply to the MFF Financial Literacy Program?

A: Students between the ages of 14 and 27 are encouraged apply. Applications will be reviewed in October 2018 for the next MFF Financial Literacy Program which starts in January 2019.

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