Inaugural BizWorld Challenge

Congratulations to the BizWorld Challenge Winners Roosevelt Elementary!

The BizWorld Foundation held an inaugural BizWorld Challenge competition where four Silicon Valley elementary schools put their real world business skills to the test. Students from Harker School, Woodside Elementary, North Star Academy, and Roosevelt Elementary worked in teams to turn around a failing company. Assuming the roles of business executives, they designed, manufactured, marketed, and sold original products. Throughout the process, teams were judged and guided by the expertise of Silicon Valley business leaders from companies like Google, Oracle, Salesforce, and Blackrock - to name a few.

A special thank you to all of the parents, educators, and industry executives who volunteered their time to ensure the success of this event.

Brian Page on teaching financial literacy

In honor of The BizWorld Foundation's Financial Literacy 4.0 Campaign,  education superhero Brian Page shared with us his tips & tools for teaching financial literacy. Read on to learn Brian's advice, strategies, and what he considers a memorable teaching moment. Thanks Brian!  

Q.   You have been recognized as a Money magazine and CNN Money Hero and Milken National Educator Recipient, so you’re obviously a great teacher.  What advice can you give to teachers who are new to teaching financial education?

A. I have three key tips for new teachers:

1. There are a tremendous amount of resources available for us to use in the classroom. I encourage educators to find the right resources for them, and for each particular lesson. Here is a great place to start.

2. I think it’s important to remember that it is not our role to tell students what to do with their money. Our responsibility is to empower our students with the tools and resources they need to make wise and informed financial choices based on their own values and financial goals.

3. Our responsibility is to develop financially capable students. This means we need to bridge content with behavior. Gauging our success based solely on a test score is not appropriate; a more appropriate way to measure success is by the amount of students who return to school after graduation to tell us they have made wise financial choices (for example, setting up a split deposit into savings, retirement, and checking, or effectively building their credit scores). It’s responsible financial behavior we are seeking, not just scores on a bubble test.

            Brian, as photographed for his contribution to CNN Money.

Q.  For teachers who do not teach only financial education (i.e., elementary school teachers), how do you recommend they fit finance lessons in with their current curriculum?

A. I was very fortunate to be asked to be a member of the working committee for the President’s Advisory Committee on Financial Capability. Our committee selected from existing websites, texts, news reports, and research straightforward and practical information plainly presented in an age-appropriate manner that English teachers and Math teachers can integrate into their lessons, aligned with the Common Core State Standards. The content is being particularly written around “11 big ideas” that drive the personal finance effort.

The guiding concepts:

Compound interest, which leads to discussion of saving

Opportunity cost, which leads to smart decision making

Value of education, which leads to wise choices about finding a college and paying for it

Risk, which leads to discussion of diversification and insurance

What money is, which leads to understanding what it can and cannot buy

Time value of money, which leads to more informed purchasing, investing and planning

Cost/benefit analysis, which leads to better decision making

Setting Goals, which leads to desired outcomes

Delayed gratification, which leads to the ability to consume more in the future

Scarcity, which leads to acknowledging limitations and making choices

Inflation, which leads to discussion of how to mitigate its effects on saving and investment

My suggestion would be to visit www.moneyasyoulearn.org in the coming months to download turnkey resources that can be easily integrated into the classroom.

Q.  You’re also an advocate for educational technology.  What are some of your favorite tech resources and tools that support classroom lesson planning and research on financial literacy?

A. I love game based learning. Here are my 30 favorite financial education games. I particularly like using video clips to introduce topics as well. My two favorites are: Bill Cosby on Budgeting, and the Marshmallow Study. 

Brian also did a wonderful article with our friends at Edutopia about his favorite games to teach financial literacy. Read all about it here.

Q. Please share a memorable moment from the classroom that illustrates the value of bringing financial education to today’s youth. 

A. Anytime a student can demonstrate to me they made a wise financial choice, it’s memorable. For example, I will never stop being excited when I hear a student tell me that they set up a direct deposit at work, or they finally understood how to complete their W4, or they are actively using their mobile banking app on their phone. These are the moments that constantly confirm how teaching financial literacy can truly change lives.

Follow along with Brian on his blog,  and read his first post with us here. 

If you would like to bring BizWorld curriculum ( which teaches the basics of entrepreneurship, business and finance) to a classroom for only the cost of shipping, click here. 

Don't forget to follow us on Twitter, and like us on Facebook!

-Your Friends at The BizWorld Foundation

Draper University Official Launch!

The BizWorld Foundation is proud to announce the launch of Draper University! The brainchild of BizWorld Founder Tim Draper, Draper University is a world-class boarding school: students aged 18-26 participate in an 8 week program designed to promote creativity, innovation, leadership and teamwork. Students build networks of friends, have the opportunity to be mentored by and meet some of the greatest minds in Silicon Valley, and develop their own businesses. The aim of Draper University is to create more heroes: to light the fire of innovation and entrepreneurship in youth, and change the world in the process. 

The BizWorld Foundation couldn't be happier to witness the launch of Draper U.  BizWorld's aim is to reach young minds at a critical cognitive stage, and plant the seeds of entrepreneurship and innovation. Yet these qualities must be nurtured in all stages of growth, and Draper U joins BizWorld in providing a solution to the gaps in our current education system. Together, we can work to ensure our students are supported and encouraged to achieve their full potential as they mature into powerful thought leaders and world-changing innovators. 

To learn more about Draper University, visit their website and follow along with their launch on Facebook and Twitter. Draper University is still taking applications for their summer session, to apply click here (scholarships are available). 

And don't forget to like BizWorld on Facebook and follow us on Twitter! 

-Your Friends at The BizWorld Foundation

The BizWorld Foundation Awards Dinner 2013

The BizWorld Foundation is thrilled to share the success of our annual Awards Dinner: Investing in the Leaders of Tomorrow! This year's event honored John Hennessy (President of Stanford) for Education Innovation and John Watson (CEO of Chevron) for Corporate Excellence. The night was hugely successful, with supporters new and old engaging with The BizWorld Foundation's mission, helping the Foundation ensure that every child receives the education he or she needs to succeed.

From left to right: John Watson, John Hennessy, Catherine Hutton Markwell and Honorary Dinner Chair Michael Loughlin. 

Catherine Hutton Markwell, CEO of The BizWorld Foundation, was moved by the support of the audience. "The BizWorld Foundation believes that real solutions exist for the gaps in education our students face. The support we've experienced tonight is both exciting and encouraging; working together, we have the power to change lives and inspire the leaders of tomorrow!" 

If you would also like to be part of the solution, donating is only a click away. To learn more about The BizWorld Foundation, please visit our website here.

Don't forget to follow us on Twitter, and like us on Facebook!

-Your Friends at The BizWorld Foundation

Brian Page: Why Financial Literacy Matters

Brian Page is one of our heroes: an educator passionate about teaching financial literacy, who is engaged and vocal in the dialogue around improving opportunities for students to learn the basics of finance and business. In honor of our brand new BizWorld 4.0 launch, and Financial Literacy Month, we asked Brian for a bit of his time. In between talking to PBS and TIME magazine, he found a way to chat with us! Thanks Brian! 

Q. How did you become interested in teaching financial education? We’d like to know about your personal journey.

A. Financial Education is a topic that hits close to home. I think the best explanation of my own journey is on my personal blog, here. The short version is that I was fortunate enough to have two parents who understood what financial tools and concepts I needed to look inward to solve some of life's greatest challenges. Not everyone is so lucky, and that is just not right. Every child deserves to be empowered with a financial education, and our schools need to make the commitment to provide one.

Q.  Why do you believe Financial Literacy is so important?

A. Personal finance is just as much about protecting what is inside of us as it is protecting what is around us. Our own personal finances have a direct impact on our emotional well-being. It is our responsibility to balance a successful personal and professional life, and be financially capable enough to sew the two together to live life as we envision it.

Q.   What are three lessons you think every student should learn about finance? 

A.  My three lessons are:

1. Every student should establish financial goals that align with their own personal values and priorities.

2. Students need to know how to use tools like direct deposits to make saving automatic; everyone should be depositing into a retirement product, emergency savings product, and checking account.

3. It is crucial that students understand the advantages and pitfalls of credit and debt, especially in today’s economy.

Q.  What do you think needs to happen to improve the state of financial education in this country?

A. We need state legislators with the courage to mandate and fund the following: teacher trainings that ensure our educators receive the professional development they need, integration of financial literacy standards in grades K-12, and a required stand-alone financial literacy course in high school that is a prerequisite to graduation.

Q.  At The BizWorld Foundation, we strive to teach children in 3-8th grade the basics of entrepreneurship, business, and finance. How do you think your course material would change if all of your students started learning about finance in elementary school?

A. If financial literacy concepts were woven into content in the elementary grades, students would be able to grasp more complex financial concepts and vocabulary quicker in high school. The training and education in high school could therefore become more comprehensive and impactful, because students would already be equipped with the fundamental basics of business and finance.

Hearing Brian's ideas and passion, it's easy to see why he is having such an impact! Thank You Brian, for taking the time to share your story. We will be posting more from our conversation with Brian as we celebrate Financial Literacy Month, so remember to check back or subscribe. You can also follow along with him on his blog, FinEdChat. 

If you or an educator you know would like to bring the newly revised BizWorld 4.0 to your classroom, it is currently being offered for only the cost of shipping from The BizWorld Foundation here. BizWorld is a project-based program with a history of success: fun for kids and easy for educators. We love our program and think you will too - try it for yourself today! Don't forget to like us on Facebook and follow us on Twitter!

-Your Friends at the BizWorld Foundation