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Tim Ranzetta, Next Gen Personal Finance - Every Student Wants To Learn About Money | #297

E297 • Mar 29, 2021 • 78 mins

In episode 297, we welcome our guest, Tim Ranzetta, co-founder of Next Gen Personal Finance, a non-profit organization working to increase access to financial education by providing its curriculum and professional development at no cost to schools. In today’s episode, we start the episode with the current state of K-12 personal finance education in the U.S. Then we hear how teaching a personal finance class in a school inspired Tim to start Next Gen Personal Finance in 2014. He shares the curriculum they provide to teachers for free, why the 43,000 teachers that are registered on the Next Gen platform are the champions to get personal finance mandated in schools across America, and how he utilizes arcade games to engage kids ranging from K-12.

Key Points

NextGen Personal Finance is a nonprofit dedicated to increasing access to financial education in K-12 schools by providing free curricula and professional development to teachers.
The current state of K-12 personal finance education in the US indicates that only about 1 in 5 students graduate with a semester-long personal finance course, with efforts underway to improve this through grassroots advocacy and policy changes.
Mission 2030 aims for every student graduating high school by 2030 to have completed a one-semester personal finance course, with an intermediate goal of ensuring every high school offers a personal finance elective by 2025.

Follow Tim: Website; LinkedIn

Resources: Next Gen Personal Finance (NGPF) Documentary: “The Most Important Class You Never Had” Danny Dollar Millionaire Extraordinaire – The Lemonade Escapade (Jackson) NGPF Arcade Games STAX investing game FINVIZ PAYBACK college game NGPF blog post: 10 Money Milestones for Parents Who Want to Teach Their Kids About Money Find out what your local school is doing about personal finance Advocacy Playbook to help you advocate in your community for financial education Mission 2030

Speakers

Meb Faber

Host • 28%

Tim Ranzetta

Guest • 68%

Chapters

0:00	Introduction to the episode and guest Tim Ranzetta
1:37	Sponsor: Y Charts
2:43	State of financial education in the US and Tim Ranzetta's background
15:09	Impact of student loan debt and need for personal finance education in schools
20:00	Expanding Nextgen Personal Finance beyond curriculum to professional development
27:16	Role of financial literacy in managing bank accounts and potential for major financial institutions to champion personal finance education
33:10	Gamification of financial literacy education and problems with traditional stock market games
39:39	Key modules in financial literacy education and the importance of investing early
49:52	Getting involved in promoting financial literacy in schools and potential for partnerships
56:31	Overcoming obstacles in implementing financial literacy in schools and state of financial education in Los Angeles
1:06:04	Funding for Next Gen Personal Finance and expanding reach through virtual events
1:13:39	Vanguard's approach to engaging the younger generation and the Robinhood controversy

Transcript

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