Financial Literacy Tools

Iowans win IRA Contributions through IPI’s 2017 Dash for the Stash Contest

In 2017, the Investor Protection Institute (IPI) and state securities agencies sponsored the DASH for the STASH contest in which an estimated 1,300 individuals participated in. DASH for the STASH is a “scavenger hunt”- like contest that teaches and then quizzes participants on investing topics such as financial fraud, building a nest egg, selecting financial advisers and the cost of investment fees. A total of 138 public libraries and other locations in eight jurisdictions participated in the contest. Participating jurisdictions included Alaska, Florida, Iowa, Kentucky, Ohio, Pennsylvania, Wyoming and the District of Columbia.

Of the 1,300 individuals who participated at host locations, 346 submitted completed responses and 171 of those responses had the correct answers. One individual, from each of the jurisdictions, who submitted all correct answers was randomly selected as a winner and received a $1,000 IRA contribution.

The DASH for the STASH contest also included an online version for the first time in 2017. The online version was open to anyone, regardless of location, and ran from April 1, 2017, to October 31, 2017. Of the 184 completed online responses, 53 were correct and seven winners were randomly selected to receive $150 IRA contributions.

Between the DASH host locations and online version, 15 winners were selected. Of those 15, two winners were from Iowa.

  • A 37 year-old male in Urbandale, Iowa won a $1,000 IRA fund contribution by participating at the Mason County Public Library. He said, “I found the DASH for the STASH fun and very informational. The posters were full of financial information and descriptions that helped me understand different options for our money to work for us.”
  • A 29 year-old female in Des Moines, Iowa won a $150 IRA fund contribution by participating in the DASH national online version and said, “DASH for the STASH was not only fun but it gave me the foundation I needed to get started with my own retirement fund!”

In addition to IPI, other organization that were involved with the 2017 DASH for the STASH included Alaska Division of Banking and Securities, the District of Columbia Department of Insurance, Securities and Banking, the Florida Office of Financial Regulation Securities Division, the Kentucky Department of Financial Institutions, the Ohio Division of Securities, the Pennsylvania Department of Banking and Securities, and the Wyoming Secretary of State’s Office.

For more information about the 2017 DASH for the STASH, click here. Information on whether the DASH will occur in 2018, has not yet been released.

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Helpful Information

Iowa earns C on 2017 national report card

Champlain College’s Center for Financial Literacy in Burlington, Vt. has recently graded all 50 states and the District of Columbia (D.C.) on financial literacy at the high school level. Iowa was one of the 11 states that earned a “C” on the National Report Card on State Efforts to Improve Financial Literacy in High Schools.

For the 2017 report card, states were measured on whether they have a personal finance education course as a graduation requirement, made personal finance a part of a required course or had finance education in its academic standards that were expected to be taught.

Although there have been some improvements since the last report card, released in 2015, the results could be better. Of all the 50 states and D.C. that were graded, only five states earned an A: Alabama, Missouri, Tennessee, Utah and Virginia. To earn an “A” these states require personal finance instruction as a graduation requirement that is equal to a one-semester, half-year course (minimum of 60 hours of personal finance instruction in an academic year).

In the report, it explains Iowa does not require a specifically identified course with personal finance concepts as a graduation requirement. Rather, Iowa’s core standards define the expectations and content of what all student should know and be able to do by Grade 12. To see these standards, click here.

Click here to review the entire 2017 Champlain report.

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Save the date for Junior Achievement Stock Market Challenge and Career Exploration Event

Save the date for April 3, 2018, for Junior Achievement’s annual Stock Market Challenge, presented by CFA Society of Iowa. This exciting, fast-paced competition gives high school students the chance to experience a simulation of a 60-day cycle of the stock market and its function of buying, selling, analysis and risk. Every 60 seconds represents a day of trading. The goal of each team (3-4 players) is to accumulate the highest possible net worth for their investment portfolio at the close of trading.

New this year, the day will also include a career exploration fair – where students can meet with company representatives from a variety of industries to learn more about job opportunities available in those industries.

Click here for more information about the event. To register a team, contact Kelly Hogan at kelly@jacentraliowa.org or 515-279-9602, ext. 219.

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MoneyTeach is a free financial education resource for teachers

MoneyTeach is a resource center where K-12 educators can search and select from a variety of personal finance lesson plans, course guides and other financial education materials. Educators new to teaching personal finance can jump start their lesson planning by learning from experienced peers who share their insights and best practices in regards to specific lessons and activities.

What’s Available

  • Lesson Plans: There is collection of lesson plans that can be searched for by content topic, arranged by Jump$tart standards. Additional search options include grade level, duration of instruction, material type or keyword search to select personal finance lessons or activities offered by leading curricula providers.
  • Course Guides: MoneyTeach has put together course guides with suggested instruction materials for those looking to teach courses of various lengths. The present guides have been made for courses taught for a week, two weeks, a quarter or semester.
  • In-the-Know: This section of the MoneyTeach website contains articles from prominent educators and professionals active in the field of personal finance and financial education.
  • Sharing Opportunities: Each lesson plan page offers educators to “Share Your Experience” after teaching a lesson. This gives teachers a chance to share guidance, tips and ideas for what worked or didn’t work about the lesson in classrooms of various sizes.

To learn more, visit MoneyTeach.org.

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Registration now open for America Saves Week

America Saves Week 2018 is set for February 26 – March 3, 2018 and registration is officially open!

During America Saves Week, nonprofit, government, academic and other business groups come together to encourage and support Americans to save effectively. Participating organizations will receive many helpful savings tools and resources to use throughout the week. These materials include contests, social media posts and graphics, and sample presentations and activities.

Savings topics for 2018 include the following:

  • Monday, February 26: Save with a plan
  • Tuesday, February 27: Save the easy way…automatically
  • Wednesday, February 28: Save for rainy days
  • Thursday, March 1: Save to retire
  • Friday, March 2: Save the extra
  • Saturday, March 3: Save as a family

To register for America Saves Week and to view a list of participating organizations, click here.