Financial Literacy

Financial literacy should be taught at school because children may not get this type of education at home. Financial literacy can be creatively presented in the middle school or high school classroom through assignments and projects in any of the disciplines. A social studies project could be that students plan a trip or vacation. Students would need to figure out the cost of travel/transportation, lodging, meals, entertainment, and souvenirs, etc. In a careers class an assignment could be given for students to research the cost of education or training for a chosen job or career and also look at expected salaries for that job or career.  Business and computer classes lend themselves to learning to balance a checkbook as well as planning a household budget.  A family consumer science class could assignment students to plan a graduation or holiday party or meal. Students would need to figure out the cost of food, beverages, invitations, decorations, etc. Students could also be given a budget and assigned to make a list of needed school supplies and clothing to start the new school year.  Art classes could have students calculate the cost of materials needed for an assigned project if they had to purchase their own supplies. Shop classes could also have students calculate the cost of supplies for a wood working project or other assigned project. Students need to learn about smart spending, saving money, how credit and debit cards work, the cost of financing and charging expenditures, and how interest rates work.  As children like to spend money, they need to learn responsibility with money, what it takes to earn money, and how to be financially literate.