State Farm unveiled a new financial education Web site that provides fun ways for K-12 students to learn basic principles of financial responsibility and money management. With only a handful of states requiring students to complete a personal finance course before graduating high school, the State Farm "Common Cents" online program can help parents and educators give children the real-life skills they need to become smart consumers, sensible savers and responsible investors, according to the Bloomington, Ill.-based insurance company.
Located in the "Kid Stuff" section of State Farm's Web site at www.statefarm.com, the "Common Cents" program provides lessons and educational games for students in grades K-12. The site includes parent and teacher guides and age-appropriate lessons focusing on six key principles of financial literacy: saving, earning, investing, risk management, decision-making, and money management.
A State Farm survey conducted last year found fewer than one-quarter of young adults (24%) claim to have a good understanding of how to invest in the stock market or mutual funds and fewer than half pay off their credit card every month or have a rainy day fund.
"The State Farm 'Common Cents' Web site offers students compelling ways to learn. I urge parents and teachers to discover how they can use this program to help students learn to manage their own finances and grow to be financially responsible adults," said Robert Duvall, president and CEO of the National Council on Economic Education.
"We have designed 'Common Cents' to give parents and teachers a resource that helps children learn financial responsibility," said Jack North, State Farm executive vice president of financial services. "Through engaging exercises, the 'Common Cents' online program focuses on providing real-life skills that prepare children early on how to make informed financial decisions."
Material on the State Farm "Common Cents" Web site is organized into four grade level groups -- K-2; 3-5; 6-8; and 9-12. The site includes printable lesson plans and activities for classroom use, a parent's guide with at-home activities and interactive games for students. The "Common Cents" Web site was developed with the National Council on Economic Education and National Board Certified Teachers serving as content reviewers.
Source: State Farm
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