Ohio Treasurer’s Office Visits Claggett Middle School in Medina for Financial Literacy Presentation
Press Release - Ohio Treasurer's Office
COLUMBUS – The Ohio State University Extension – Medina County facilitated a ‘Real Money. Real World.’ financial literacy presentation today in partnership with the Ohio Treasurer’s office at Claggett Middle School in Medina. This initiative is part of Treasurer Josh Mandel’s ‘Financial EDge’ financial literacy initiative and continuing efforts to raise awareness on the importance of financial wellness and provide tools and resources to help citizens across Ohio make sound financial decisions.
Real Money. Real World. is an interactive budget simulation that aims to prepare students for their financial futures by assigning spouses/children, occupations and a monthly salary which students must manage to provide for their families. Students are then dealt various financial obligations similar to those they will face as adults, requiring tough decisions and encouraging thoughtful discussion on how best to prioritize financial responsibilities.
This financial literacy simulation is facilitated in partnership with The Ohio State University Extension – Medina County, the Medina City School District and over 20 parent and community volunteers. In addition to the Real Money. Real World. simulation, the Ohio Treasurer’s office recognized these local leaders for their commitment to the advancement of financial literacy.
“I am proud to offer financial wellness training alongside our dedicated parents, educators and community leaders,” said Treasurer Mandel. “Financial literacy education is crucial in preparing Ohio students as they begin the next chapter of their lives.”
“Real Money. Real World. is unique and effective in that it creates an authentic experience for each student,” said Claggett Middle School Teacher Adam McElwain. “It is imperative that students understand that what they earn is not necessarily what they will get in their paycheck once deductions are taken out. This is where financial literacy is so important in developing an informed citizenry.”
Recent legislation requires financial literacy to be taught in schools throughout Ohio. Senate Bill 311, which passed the Ohio General Assembly and was signed into law in 2007, requires Ohio schools to integrate the study of economics and financial literacy into one or more existing social studies credits so that every high school student receives financial instruction. These new requirements became effective with the graduating class of 2014.
The Ohio Treasurer’s ‘Financial EDge’ financial literacy initiative leverages technology and public-private partnerships to assist teachers in meeting these financial education requirements and provides free financial education tools to parents, educators and students.
This effort is part of the Ohio Treasurer’s office ongoing commitment to providing financial literacy resources to all Ohioans. For more information on these resources please visit www.OhioTreasurer.gov/Financial_Education.