Financial Literacy for Music Teachers
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Financial Literacy for Music Teachers
Financial literacy in the music classroom is important. Students, teachers, and parents will likely deal with money matters. This scoopit will feature information on financial literacy, budgeting, boosters, how to teach students, and more!
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This Teen's Rap Song Puts Financial Advisors To Shame

This Teen's Rap Song Puts Financial Advisors To Shame | Financial Literacy for Music Teachers | Scoop.it
Money matters.
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Why not use music itself as a medium to learn and teach about finances. We can derive a group or individual project assignment with inspiration from Syretha Shirley's video. After analyzing and discussing financial issues through various songs, we can prompt students to make their own music. In addition to "Money Matters", here's a list of 26 relevant hip hop songs that students might analyze as well: http://mashable.com/2013/07/15/money-wealth-rich-song/. The best part of this assignment is that students will develop composition, literarcy, and financial skills/knowledge as they complete their work. A good scaffolding starter activity could be a walk-through analysis of a song in class. 

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How Much Do You Know About Money? (QUIZ)

How Much Do You Know About Money? (QUIZ) | Financial Literacy for Music Teachers | Scoop.it
April is financial literacy month, which means there's no better time than now to learn about managing your finances. The truth is, financial literacy is something we shy away from.
Wesley Michelle's insight:

April is financial literacy month! April can be a good time to do a daily or weekly financial literacy activity. It can be anything from giving students some suprising facts listed in this article to taking the quiz on money knowledge. The quiz provides questions about important financial information such as credit scores, 401(k)s, and emergency savings acounts. This activity could be a  great starting point for students. You could tailor the information in a lesson to talk about incorrect answers.

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Top 12 Online Fundraising Platforms for Donors & Non-Profits

Top 12 Online Fundraising Platforms for Donors & Non-Profits | Financial Literacy for Music Teachers | Scoop.it
Here are some online funding sites that leverage social networks and online crowds to help you do some (social) good.
Wesley Michelle's insight:

An essential for any music program is a functional, easy-to-use website - especially for students and parents. As seen is previous scoops, a great addition to any website is a fundraising page. This might include an overview of goals and/or specific up-to-date posts on the progress of a fundraising project. We might also consider linking an entirely new web address that is totally focused on presenting the needs of our programs. Mashable.com has listed sites that tend to host fundraising efforts for "social good", but many of the sites offer customizable features that can work for a music program. With an increasingly digital/online world, these platforms have the potential to boost our fundraising efforts significantly. 

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Financial Case Studies | Artist Revenue Streams

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This website provides several different case studies on musician financial income. The case studies were done on a variety of musical job avenues including jazz bandleader/composer, indie rock composer/performer, and professional orchestral player. If used in a lesson, students will see how muscians gather income in different ways. For example, the professional orchestra player also made money by being a freelance artist for a live ensemble and a recorded ensemble as well as teaching private lessons. Music specific expenses are also listed in each study. The professional orchestra player's biggest musical expenses were the purchase and/or upkeep of concert level insturments followed by education/student loan repayments. The expense list can make students aware of the extra money they may have to budget in order to be a professional musician.

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Financial Literacy in the Classroom

Financial Literacy in the Classroom | Financial Literacy for Music Teachers | Scoop.it
Find education news, teaching strategies, lesson plans, activity ideas and more on the WeAreTeachers blog. Featuring posts by guest bloggers and teachers as well as WeAreTeachers editors.
Wesley Michelle's insight:

This article gives 15 different ideas on how to include financial literacy in the classroom. While some of these ideas are general, they can be tailored to the music classroom. For example - one idea is to research salaries for different careers in your content area (music in this case) and discuss what the money can buy.

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Banddirector.com - The #1 Online Resource for Band Directors!

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Bill Gray Enterprises Financial Corporation deals solely with music program financing. Too often, restrictive budgets make music program directors feel confined and stressed about the limitations of their scenario. As this article points out, the stand operating procedure of most schools is to lease equipment that it needs to operate effectively. This fact may be used to our advantage the next time we have to negotiate new instrument of equipment purchases. BGE may or may not be the right financial group for everyone, but learning about the potential of leasing will benefit all of us. Check out the other resources on banddirector.com in addition to this article!

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4 Handy Apps for Maintaining a Budget

4 Handy Apps for Maintaining a Budget | Financial Literacy for Music Teachers | Scoop.it
Make things easier for yourself by using one of these apps to sift through your financial life electronically.
Wesley Michelle's insight:

Having trouble keeping your money straight? There's an app for that. In the age of technology, students might be more willing to try budgeting their money if they can do it on their phone. The website suggests four different types of budgeting apps as the best out of the many apps out there. Every app has its own unique qualities, each with pros and cons listed.

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WorldStrides | Fundraising

WorldStrides | Fundraising | Financial Literacy for Music Teachers | Scoop.it
The oldest and most trusted educational student travel company. Worldstrides provides travel, trips and tours for students, teachers and parents on topics including history, theater, music, sports and science.
Wesley Michelle's insight:

This website has an excellent blend of fundraising and grant-writing advice that goes beyond some of the ideas found in the Marching Band Booster discussion forum below. One helpful feature is the organization of fundraising ideas into 1-day, ongoing, special events, creative, direct sales, and music groups categories. The most relevant for music programs are normally the direct sale ideas. We need to be willing to put in the extra effort and think outside of the box. If we feel that there is not enough money in our program's pot, we have to make an effort toward all the options (and there are many!). 

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MUSIC EDUCATION GRANTS - How to survive budget cuts in music education

Music Education Grants: Get the current info on available funding, public & private
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Music educators must be entrapeneurs as well as teachers. School budgets won't typically suffice for the amount of instrument repairs, repetoire purchasing, festival and competition fees, etc. that you will need throughout the school year. Danny Rocks suggests in his video to work with booster programs the way you would work with investors. He suggests working with community organizations such as the Chamber of Commerce and Knights of Columbus. The page also includes links on how to write grants as well as resources for money donations.

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Money Counts: A Series For The Financially Young

Money Counts: A Series For The Financially Young | Financial Literacy for Music Teachers | Scoop.it
Our five-day series examines the relationship between young people and their finances.
Wesley Michelle's insight:

NPR created a series of podcasts which explores the topic of today's youth and their relationship with their money. This podcast series can help teachers understand how they might approach helping their students understand their financial responsibilities. For example, technology is a new tool that can help students with banking and credit cards. The podcast stresses that financial literacy includes being able to read bills and statements to understand what you are paying. Financial literacy might look slightly different from generation to generation. Keeping this in mind and keeping abreast of what students may be currently encountering can help us better teach them.

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Financial Literacy Resources

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Want to teach financial literacy but not sure where to start? This website lists numerous resources for teaching financial literacy to students. Each resource has a small description and contact info. Some resources even provide lesson plans. While there aren't any music specific resources listed, it would be a fun to plan a interdisciplinary lesson. Students should know the basics of money if they are going to be doing their own fundraising.

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Marching Band Booster fundraising ideas - The DIS Discussion Forums - DISboards.com

Marching Band Booster fundraising ideas - The DIS Discussion Forums - DISboards.com | Financial Literacy for Music Teachers | Scoop.it
Marching Band Booster fundraising ideas Community Board
Wesley Michelle's insight:

Asking experienced music teachers about fundraising options is a great place to start your search for financial support. Local business coupon cards, profit-shares, raffles, sales (e.g. fruit, yardsale, cookie dough), ticketed performances/festivals, scrips, Marketday, golf (sport) outing, carwashes, mixers, and recycling are among the many ideas discussed in this thread. Scips and Marketday may be most unfamiliar. For the first, an organization's members buy gift cards through a music director at full face value, and use them in place of cash, checks, or credit cards for their everyday shopping. The cards are purchased at a reduced cost, and the difference becomes immediate fundraising for an organization. Marketday provides a grocery service in schools in a type of profit-share. It's important to consider whether or not your program should have mandatory fees for students. Mandatory fundraising quotas could be a better option. 

 


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Students learn financial literacy through music

Students learn financial literacy through music | Financial Literacy for Music Teachers | Scoop.it
Watch the video «Students learn financial literacy through music» uploaded by Local News on Dailymotion.
Wesley Michelle's insight:

In addition to a course requirement, this school hosted a concert with musical entertainment promoting financial literacy and know-how. That's quite a leap from what is seen in most public school scenarios today. This news report emphasizes the ignorance of many students. What an opportunity for music teachers to push for a concert that promotes an administration-supported message! If possible, your school could plan to use its own ensembles in the concert. No matter how this idea is made a reality, it is a great one to engage students with financial literacy. 

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Fundraising and Grant Resources

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This document from the North Carolina Department of Adminstration is an all in one how-to-do and how-to-find financial resource guide. It begins with a general list of considerations when looking for financial support. A Grantseeker Checklist is provided which can be a valuable resource for a first time grant writer. The last fourteen pages contain a list of both national and NC resources. Most resources come with a description and all of them have contact information attached to them.

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Bay High Marching Band Creates Lip Dub to Raise Money for Orange Bowl

WJHG News Story on Bay High Million Dollar Band Lip Dub
Wesley Michelle's insight:

It is often said that the best advertisement for band recruitment are the students themselves. This particular high school band put this principle to the test with fundraising. We cannot expect our surrounding community to automatically know what our programs are all about. Sharing the accomplishments of students and spreading awareness of need at the same time is exactly what the "lip dub" idea does. Why not take advantage of the students' talents and the ease of making these kinds of videos today (not to mention how effective online tools are for easily sharing such a video). While it is somewhat outside of the box compared to past scoop ideas, the video concept could motivate your program's students to want to fundraise more as they collaborate to create the tool they'll use to accomplish the fundraising goal. 

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Financial Management for Musicians Part I: How To Take Charge of Your Finances

Financial Management for Musicians Part I:  How To Take Charge of Your Finances | Financial Literacy for Music Teachers | Scoop.it
Financial planning is an essential skill for musicians so for the past few weeks, my class has been focused on helping my students to learn the basics of financial management and create their personal financial plans.
Wesley Michelle's insight:

This resource focuses specifically on financial literacy for musicians. This could be used in conjunction with a lesson on being a musician as a career. Some of the advice is more general such as saving and avoiding debt. Other advice is more music specific such as planning multiple revenue streams and tax considerations for musicians. Under each heading are links to other resources such as a budget template for musicians. This can also be useful for any current music teachers/perfromers!

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Financial-Info-and-Guidelines.aspx

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As the routines and procedures for a music program's finances fall into place, a director needs an easy way to organize and recall what needs to happen and how. This is an example document from Choctawhatchee High School in Florida, which lays out the pertinent financial policies for the music program. Not only does it address student policies, it lists guidelines for booster activities as well. The integration of school accounts and band accounts in these guidelines has not come up as clearly in previous posts. A key principle for all financial activity arises from this - we can never have too much transparency with the school itself. Following the link stylemarchers.org link, notice that the program also has a "fundraising" link at the top of their website. 

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Financial Literacy Gets a Hip-Hop Makeover - DailyFinance

Long filled with messages of outlandish lifestyles and expensive habits, hip-hop has lately been promoting more frugal choices. From "Mo Money, Mo Problems" to the virtues of shopping secondhand in "Thrift Shop," the genre's done a 180.
Wesley Michelle's insight:

Despite the excess of hip-hop and rap songs about expensive lifestyles, pop culture and financial literacy can actually meet in the middle. Charles Schwab teamed up with the Boys and Girls club to reach students on the subject financial literacy through music. If you are looking for a way to teach financial literacy and popular music in a general music classroom, this may be the way to go. The article features the winning music video of the contest, "Money All That Matters." Here is a taste of a few lyrics: "I'm gonna balance all my checks so my money never falls / budget out my money so I don't get collectors' calls / cause you can't rob Peter to go and pay Paul"

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Fundraising Ideas for Your Music Classroom

Fundraising Ideas for Your Music Classroom | Financial Literacy for Music Teachers | Scoop.it
Florida teacher Jim Estes is back for a final installment in his Fundraising series! Jim started by pointing out the various sources of funding music teachers have at their disposal, then he taught...
Wesley Michelle's insight:

This website gives a few unique ideas on fundraising outside of the typical car wash. The blog post comes straight from a music teacher who's tried most of the fundraising ideas listed. One idea I found particularaly interesting and useful is the idea of selling something your students need at a reasonable price while still making profit. The author mentioned that the benefits are twofold: "the profit generated not only provides extra money for our music program, it makes it possible for me to provide free recorders for any student whose family suffers financial hardship." Some of these ideas might not work in every classroom but it is worth checking out.

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Learn How to Build Credit from Better Money Habits

Learn How to Build Credit from Better Money Habits | Financial Literacy for Music Teachers | Scoop.it
Our how to build credit video will guide you through the steps needed for building credit. Let Better Money Habits help you with establishing your credit.
Wesley Michelle's insight:

Having a good credit score is a basic part of financial health for everyone, and music program directors are no exception. We wouldn't want our own lack of financial wisdom or poor decision-making to create implications for the financial stability of our programs. This fast-paced video reveals the source and purpose of a credit score, and it also covers five essential ways to ensure that you have a good one. If we're going to have any impact on our students' financial literacy, what better place to start than our own wallets and budgets. Let's practice the informed financial knowledge andl skills that we preach.

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JSTOR: Music Educators Journal, Vol. 95, No. 2 (Dec., 2008), pp. 56-61

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There are 5 essential steps for your booster organization. It needs to be officially founded and formally incorporated as a nonprofit entity according to the laws of your state. Next, it needs to seek an IRS ruling as a 501(c)3 exempt charity (501(c)3 status makes all contributions to the organization tax deductible, exempts the organization from most (or all) federal and state income taxes on raised funds, and will generally allow the group to have state sales tax exemptions on anything purchased for the organization). Then, the booster must establish a presence in grassroots and legislative lobbying, including to the local school board. The organization will be able to do this better if it also creates a strong and succinct advocacy message (like an extended slogan). Lastly, the organization must have a crisis response system, one that relies on the right combination of strong advocates and people in positions of power who can influence school decision-making as a last resort.  

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Financial Ed/Common Core

podcast

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http://americanradioworks.publicradio.org/podcast2.html

 

Podcast Title: Financial Ed and the Common Core

 

The severe lack of basic finance classes in public schools is an overwhelming problem. The 2008 global financial crisis and a resultant recession have ignited a focus on financial literacy for all students, particularly through the Common Core Standards initiative. Embedding personal finance lessons into the context of math and English coursework is a good starting point, but teachers should be in the mindset of going beyond just meeting the standards.  As music teachers, especially band/choir/orchestra program directors, our students are often required to participate in raising money for musical opportunities. We will do a great service to our students as individuals and ensemble musicians by furthering the Common Core Standards through financial literacy. We might also be able to enhance the financial know-how of our booster organizations in the process!

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NAfME – Advocacy Groundswell – MUSIC BOOSTER MANUAL EXCERPT

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This article features an overview of how to set up and run booster programs. Some information is only for the music teacher while other information is directed at the bosster itself. There is a section on marketing, which explains the basic principles of profits. The article is based on excerpts from a larger book so it is brief and concise. This can be a good starting point for new programs or programs looking to start a band or choir booster.

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Breaking Down School Budgets : Education Next

Breaking Down School Budgets : Education Next | Financial Literacy for Music Teachers | Scoop.it
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Schools deserve teachers who are aware of how effectively the resources provided to them are actually used. This study proposes that a "spending-on-services model" of analysis can help to clarify high schools' per-pupil costs and the influence of organizational features on resource allocation. It presents an analysis of information on teacher salaries, teacher course assignments, and course enrollment data to calculate per-pupil expenditures for various content areas and course types. Two western US and one eastern US district provided data for the study. An awareness and understanding of how music programs fit into the complex organizational structures of funding in today's school districts is a key first step toward financial literacy. Starting with such knowledge, music teachers may strengthen their arguments and proposals for the advancement of their programs. 

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