Financial literacy legislation sponsored by State Senator Jamie Eldridge was heard by the Joint Committee on Education earlier today. Senate Bill 204, “An Act Relative to Financial Literacy in Schools,” would require that personal financial literacy added to school curriculum.
“Today’s youth are bombarded with a multitude of financial options and responsibilities at an increasingly young age, yet many are ill-equipped to make informed decisions about financial matters,” said Eldridge. “By teaching children the financial education basics in school, we will help them make educated financial decisions in the future, preventing future bankruptcies, foreclosures, and unmanageable debt.
“This is a result that’s good for society as well as for individuals,” Eldridge added. “Over the long term, the investment we make in teaching children financial literacy now will help strengthen our economy and prevent future economic crises. “
The bill would require the Department of Elementary and Secondary Education (DESE) to develop standards and objectives for personal financial literacy for grades K-12 in the mathematics curriculum. The curriculum would include information on loans, borrowing money, interest, credit card debt, online commerce, rights and responsibilities of renting or buying a home, saving, investing and planning for retirement, and banking and financial services.
One Acton kindergarten classroom has already been experimenting with this concept. Click here to read the Acton Patch story.
Treasurer Steve Grossman also testified today in support of financial literacy legislation.
“Students who do not know how to balance a checkbook, understand the principles of compound interest, and are uninformed about the dangers of credit debt are at a significant disadvantage in society and the workplace,” said Grossman. “Moreover, this need takes on even greater urgency for those who are about to attend college or are already enrolled. College loans will be one of the greatest debt burdens they will assume in the course of their lives, and sadly too few students are properly equipped to cope with the challenge.”
Also lending support to the bill was the Massachusetts Financial Education Collaborative (MFEC).
“Every day we see the fallout from financial choices made by adults without financial savvy. Kids should not leave school without the tools to manage in this sophisticated marketplace,” noted Margaret Miley from MFEC.
The legislation was given unanimous approval by the Senate last session, but unfortunately was not taken up in time by the House of Representatives. At least thirteen states now require students to take a personal finance course or personal finance included in an economics course as a high school graduation requirement.
In June 2009, the Asset Development Commission released a report recommending that the Legislature implement financial education in schools to better prepare youth for the financial decisions of the future. The Commission, which Eldridge chaired, was charged with studying what it mean to be low-to-moderate income in the Commonwealth of Massachusetts, what help the state provides in moving families up the economic ladder, and what barriers are standing in their way.
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Mike Eldridge Ameriprise financial advisor in Boone, NC →
To achieve your dreams, you need a plan. Our unique and collaborative Dream> Plan> Track> ® approach to financial planning starts with your dreams, not just the numbers. More than a pie chart, asset allocation or product recommendations, our plans are carefully written and based on proven principles of financial planning. The plans break down complex topics into simple actions and provide recommendations for how to save, spend, invest and protect the things that are important to you. I will address your needs over time, and deliver recommendations in a written financial plan. It will be updated regularly and will provide you with information tailored specifically to your goals and dreams.
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Hypo Venture Capital Headlines: Global Manufacturing Displays Resilience to Europe’s Debt Crisis: Economy
http://pressexposure.com/Hypo_Venture_Capital_Headlines%3A_Global_Manufacturing_Displays_Resilience_to_Europes_Debt_Crisis%3A_Economy-433805.html
New York City, New York (PressExposure) January 30, 2012 — Manufacturing from the U.K. to India showed improvement in December, suggesting production is weathering strains from Europe’s sovereign debt crisis.
Purchasing manager indexes for the U.K., Switzerland, China, India and Australia rose in December, while German unemployment fell more than economists forecast as exports of cars and machinery boomed, reports today showed. U.S. manufacturing growth (NAPMPMI)accelerated more than economists forecast to the fastest pace in six months.
The factory production data indicate some resilience in the industry as European leaders work to flesh out their plan to end the debt turmoil that’s threatening to drag the region back into recession. TheInternational Monetary Fund may cut its 2012 global growth forecast this month after lowering it to 4 percent in September, when it predicted “severe” repercussions if Europe fails to contain its crisis.
“Everyone’s taking comfort from stronger exports to the Far East, but we’re going to see a much weaker first quarter in China,” said Chris Scicluna, head of economic research at Daiwa Capital Markets Europe in London. “It’s a mixed picture. The general trend in the U.S. is one of healing, but it’s hardly a picture of dynamism, and we’re looking at contraction in Europe.”
Asian Rebound
A manufacturing purchasing managers’ index for India released by HSBC Holdings Plc and Markit Economics today rose to the highest level in six months in December. In China, manufacturing rebounded last month from a contraction in November, while Australian factory production (AIGPMI) expanded for the first time since June, driven by gains in basic metals, transport and publishing.
Manufacturing in Singapore rose 6.5 percent from a year earlier in the fourth quarter, after climbing a revised 13.4 percent in the previous three months, the Trade Ministry said today.
In Europe, a gauge of Swiss manufacturing rose to 50.7 in December from 44.8 in November when adjusted for seasonal swings, Credit Suisse Group AG in Zurich said in an e-mailed statement today. That’s the first reading above 50, which divides contraction from expansion, since August. A U.K. index (PMITMUK) rose to 49.6 from a revised 47.7 and a measure of new export orders increased for the first time in five months, led by demand from customers inGermany, Eastern Europe and China.
The U.K. reading offers “glimmers of hope,” David Tinsley, an economist at BNP Paribas SA in London, said in an e- mailed statement. “As we enter 2012, hopes that the manufacturing recession will be fairly shallow continue to have credence.”
Stocks Rise
European stocks rose today, with the Stoxx 600 Index (SXXP) gaining 1.3 percent as of 3:13 p.m. in London. In Germany, where data today showed unemployment fell twice as much as economists forecast last month, the DAX Index advanced 1.6 percent, for its longest winning streak since Nov. 30.
General Electric Co. (GE) is targeting more than 10 percent earnings growth at its industrial and finance businesses next year, in part by driving up margins in manufacturing businesses from health-care devices to jet engines and energy equipment. Chief Executive Officer Jeffery Immelt said Dec. 13 GE is prepared for a “tough Europe” though the company will manage strains in part by reducing its footprint there.
U.S. Improvement
The U.S. Institute for Supply Management’s factory index (NAPMPMI) climbed to a six-month high of 53.9 in December from 52.7 the previous month. The median of 74 estimates in a Bloomberg survey was for an increase to 53.5.
Not all regions are showing expansion. Norwegian manufacturing shrank at the fastest pace in two years in December as orders and production stalled, Oslo-based Fokus Bank said today in a statement.
Markit Economics said yesterday that its euro-area (PMITMEZ) purchasing managers’ survey for December was at 46.9 in December, up from 46.4 in November. Germany, France and Italy, the region’s three biggest economies, were among the countries that reported contractions.
In Germany, the number of people out of work fell a seasonally adjusted 22,000 to 2.89 million, the Nuremberg-based Federal Labor Agency said. Economists forecast a decline of 10,000, the median of 20 estimates in a Bloomberg News survey showed. The adjusted jobless rate dropped to 6.8 percent.
“We’re not growing, but we’re not in a tailspin either,” said Alan Clarke, an economist at Scotia Capital in London, referring to the manufacturing reports. “I don’t think we’re going to be breaking any speed records this year. It’s going to be pretty weak in the first half, but I think we’ll be on an upward sloping trajectory in the second half of the year.”
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Hypo Venture Capital Headlines: Global Manufacturing Displays Resilience to Europe's Debt Crisis: Economy →
New York City, New York (PressExposure) January 30, 2012 — Manufacturing from the U.K. to India showed improvement in December, suggesting production is weathering strains from Europe’s sovereign debt crisis.
Purchasing manager indexes for the U.K., Switzerland, China, India and Australia rose in December, while German unemployment fell more than economists forecast as exports of cars and machinery boomed, reports today showed. U.S. manufacturing growth (NAPMPMI)accelerated more than economists forecast to the fastest pace in six months.
The factory production data indicate some resilience in the industry as European leaders work to flesh out their plan to end the debt turmoil that’s threatening to drag the region back into recession.
Mike Eldridge Ameriprise financial advisor in Boone, NC →
My Approach
To achieve your dreams, you need a plan. Our unique and collaborative Dream> Plan> Track> ® approach to financial planning starts with your dreams, not just the numbers. More than a pie chart, asset allocation or product recommendations, our plans are carefully written and based on proven principles of financial planning. The plans break down complex topics into simple actions and provide recommendations for how to save, spend, invest and protect the things that are important to you. I will address your needs over time, and deliver recommendations in a written financial plan. It will be updated regularly and will provide you with information tailored specifically to your goals and dreams.
Mike Eldridge Ameriprise financial advisor in Boone, NC by kirkpatrickgad
http://www.yousaytoo.com/mike-eldridge-ameriprise-financial-advisor-in-boone-nc-marirvine/1769922
My Approach
To achieve your dreams, you need a plan. Our unique and collaborative Dream> Plan> Track> ® approach to financial planning starts with your dreams, not just the numbers. More than a pie chart, asset allocation or product recommendations, our plans are carefully written and based on proven principles of financial planning. The plans break down complex topics into simple actions and provide recommendations for how to save, spend, invest and protect the things that are important to you. I will address your needs over time, and deliver recommendations in a written financial plan. It will be updated regularly and will provide you with information tailored specifically to your goals and dreams. We will track your progress on an ongoing basis against your plan, reviewing where you are, where you need to be and what new developments in your life will affect your goals and make adjustments as needed.
Areas of Focus
- Retirement Planning Strategies
- Retirement Plan Distribution
- Domestic Partner Planning
- Estate Planning Strategies
- Investments
- Tax Planning Strategies
- Wealth Preservation Strategies
- Retirement Income Strategies
Interests
- I enjoy spending time with family and being active outdoors doing yard work, hiking mountain trails, and playing golf.
- I officiate high school and club soccer and enjoy traveling to work in regional soccer tournaments.
- We enjoy traveling to see out of town family and clients and love to have our children come back home to visit.
Community Participation
I have focused my free time in helping youth. I am a former Chairman of the School to Work Initiative on the school drop outrate for Watauga County. I have used my college coaching skills as a head coach of a traveling team for the High Country Soccer Association. We’ve participated with the Adopt a Street program.
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