Our Education Blogger is a public school teacher with over a decade of experience. She’s an active NEA member and enjoys writing about her experiences in the classroom.
Teaching financial literacy doesn’t have to be complicated! We’ve got you covered with a breakdown of teaching financial literacy and helpful resources to get you started.
What is Financial Literacy?
Financial Literacy is the knowledge and skills needed to make informed decisions regarding financial resources. It includes long-term planning skills and everyday use of personal financial literacy knowledge.
Why Should We Teach It?
Many young people lack the most basic of personal finance skills. Students are entering “the real world” with little or no personal finance skills. It is the job of educators to teach students to manage their money effectively. In many states, personal financial literacy is a required standard. However, it should be taught to all students, regardless of state requirements. Students who are taught financial literacy skills are more likely to become financially responsible.
What Should I Teach?
Here are some topics to get you started: budgeting, saving, investing, credit cards, loans, interest, identity theft and safety. You can find basic lessons for even the youngest of students.
Videos
Secret Millionaires Club – Warren Buffett’s Secret Millionaires Club is an animated series that features Warren Buffett as a mentor to a group of entrepreneurial kids whose adventures lead them to encounter financial and business problems to solve. The program teaches the basics of good financial decision making and some of the basic lessons of starting a business.
I Rule Money – I Rule Money gives teens the answers to questions about money in a voice they understand: their own. I Rule Money digs into important financial topics without lectures, boring scripts or complicated explanations. Just real teens explaining money matters to other teens in terms they can all understand.
Lesson Plans
Money As You Learn – Money as You Learn provides teachers with Common Core aligned texts, lessons, and tasks that connect the Common Core to real life applications while also equipping students with the knowledge needed to make smart financial decisions.
Scholastic – Adventures in Math: Real-world math and money activities for grades K-8.
EconEdLink.org – CEE’s standards-aligned, active learning lessons provide step-by-step instructions and make your classes educational, engaging and fun.
Hands On Banking – The Hands on Banking courses include free instructor guides with classroom lessons and activities that will help you guide students through real-life scenarios and group discussions to teach valuable financial skills.
Money As You Grow – A resource for parents and teachers with activities and tips.
My Classroom Economy – My Classroom Economy is a program that enables any educator to teach children financial responsibility through fun, experiential learning. It’s a simple classroom economic system based on the idea that students need to earn school “dollars” so that they can rent their own desks. By bringing real-world scenarios into the classroom, students see the impact of their decisions to save, spend, and budget. Everything you need to build a classroom economy is available on this site—for free.
Games
Whats Up In Finance? – Games for grades 6-12.
EcondEdLink.org – Simulations, games, videos and other interactive resources make education fun and engaging for the 21st century learner.
Finance in the Classroom – Interactive games and activities for all grade levels.
Consumer Jungle – Learning about personal finance isn’t always a good time. Fear no more. With all of these games, learning about personal finance will be like taking a vacation to Disneyland. Alright, maybe not that exciting but they might be better than those lengthy lectures from Mom and Dad. The best part — you can search by topic or recently posted. Kinda cool, huh?
Practical Money Skills – Ready to get your game on? Test your money skills and give your brain a workout with these fun and educational games.
The Great Piggy Bank Adventure – The Great Piggy Bank Adventure® online is a virtual board game that educates kids and adults on the importance of wise financial planning. Kids will learn about important financial concepts and use these lessons to complete the game and achieve their dream goals. While The Great Piggy Bank Adventure® is designed for kids from ages 8 to 14, fun-loving adults are encouraged to play with their kids and get involved in their financial education.
Sand Dollar City – Sand Dollar City is an underwater adventure that teaches children ages 8 and up to sink or swim in this virtual world. The story unfolds with your child being given the family‘s candy store. The challenge? Get the store out of debt while turning a profit and beating the competition. It’s real life lessons of business while having fun learning!
The Fun Vault – Find educational money games that are fun and free to play. The Fun Vault introduces kids ages 5 and up to money basics.
We want to hear from you! In the comment section, let us know how you teach financial literacy in your classroom.
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