You may not know this about the Fed, but we do more than monetary policy. We also play a central role in the nation’s payment systems. Reserve Banks keep enough currency and coin in circulation to meet public demand, provide check collection services to banks and other depository institutions, operate electronic payment systems, and provide financial services to the U.S. government and certain foreign institutions. This week, we’re focusing on cash – past and present – and are also highlighting some of the work from our Cash Product Office.
Money, Money, Money
Cash stirs the imagination. It’s a driving plot element and character in thousands of books, movies, television shows, and songs. We think about it, dream about it, talk about it, work for it, save it, and spend it. At its most basic level, cash—currency and coin—is essentially a store of value for obtaining the goods and services you need for your daily life.
Last month, we had a great day of discussion on personal finance and entrepreneurship with nearly 400 amazing students from girls’ schools in Honolulu. We ran three interactive sessions designed to introduce students to the topics of budgeting, learning how to finance college, and understanding the purposes and functions of the Fed. The day was capped off with a panel discussion on entrepreneurial leadership.
Students from Honolulu’s La Pietra and Saint Andrew’s Priory joined their peers at Sacred Hearts Academy for the day, supported in part by the National Coalition of Girls’ Schools (NCGS).
Manage your money. Don’t let it manage you.
Our session on personal finance stressed the importance of creating a budget, as well as the need to understand investment options, risk, and rates of return. Young people need to be proactive instead of reactive with their money. We used a modified version of this lesson plan during the session; feel free to download it and use it in your own classroom.
Thank you for visiting our blog! We’re going to be working hard to make this space your go-to spot for economics and personal finance education materials that can be quickly and easily integrated into your existing curriculum.
Although the full list of our materials will remain on our website, this blog will be a space for announcements about our freshest content, exciting upcoming events (both in-person and virtual), and a place for discussion with both us and your colleagues about economics and personal finance education.
We look forward to working with you, and want to know: what kinds of content would you like to see on our blog? Add a comment!