IT’S NEVER TOO EARLY TO LEARN THE BASICS OF SAVING AND INVESTING

 

Ohio Division of Securities Spreading The Word To Students Throughout Ohio

 

In the wake of a newly released national survey highlighting the lack of financial knowledge of America’s teens, speakers from the Ohio Department of Commerce’s Division of Securities will be making more than 95 presentations at elementary, middle and high schools throughout the state in April. 

 

In observance of Saving and Investing Education Month in Ohio, Division of Securities staff members will visit schools to help students learn the basic concepts of saving and investing.  Last year, 14 division staff members made investor education presentations before 2,473 Ohioans. 

 

In “America’s Money Skills Report Card,” a study conducted on behalf of Americans for Consumer Education and Competition, it was found that young Americans have limited understanding of financial issues and how they can prepare for their financial futures. 

 

Susan Molinari, national chairperson of Americans for Consumer Education and Competitition, said that the study demonstrates that teaching children personal money skills today can help determine whether they pass or fail life’s financial tests tomorrow. 

 

“We are seriously concerned about reports that many students are not prepared to make good financial decisions in today’s complex financial arena,” said Ohio Securities Commissioner Debbie Dye Joyce.  “It is important that our students learn the basic concepts of saving and investing.” 

 

In addition to the presentations during Saving and Investing Education Month, the Division of Securities has been working with the Ohio Department of Education and the Ohio Council on Economic Education in distributing the “Basics of Saving & Investing:  A Teaching Guide”.  Since 1999, the Division has distributed 1,890 teaching guides to Ohio educators. 

The new teaching guide was developed by the Investor Protection Trust, the North American Securities Administrators Association (of which Commerce's Division of Securities is a member), and the National Association of Securities Dealers in conjunction with Eastern Michigan University.  The teaching guide is part of the Financial Literacy 2001 project. 

The teaching guide can be used as the framework of a short course or as a supplement to an existing course in mathematics, home economics, business education, economics, or personal finance.  The teaching guides provide information about:   

• designing a personal financial plan

• how financial markets work

• selecting among various savings and investment options

• finding and using investment information

• recognizing and protecting against investment fraud

Gary Suhadolnik, Director of the Ohio Department of Commerce, says that every time he shows the teaching guide to someone new, they immediately exclaim:  "I wish someone had taught this to me when I was in school!"

  

Note to editors:  The Ohio Department of Commerce is issuing news releases every Monday during April to address specific saving and investing topics.  If this schedule does not meet your needs, please contact us. 

 

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The Ohio Department of Commerce’s Division of Securities promotes an honest and fair securities market where individuals and businesses can raise capital and investors can expect a fair return on their investment.  Other Commerce divisions enforce regulations regarding industrial compliance, financial institutions, real estate, liquor, auctioneers, and unclaimed funds, among others.  The department's internet address is www.com.state.oh.us