Financial Literacy Mark McGaffin

Currently, I teach Contemporary Global Studies which encompasses financial literacy into my content area.  Students need to be aware of their financial decisions and how they affect their life.  Setting short and long term financial goals are a great way to provide direction in their financial life.  SMART goals are a great way to show them how to set measurable and achievable goals.  This is obviously a life skill that can be applied to other areas of their life.  Establishing a budget can help them begin to understand how responsible consumers spend their money and plan for their future.  I can see how my students would benefit from learning about different jobs and their incomes, living expenses in urban and rural areas, and setting a budget to help them understand how to budget their money.  Lastly, gaining an awareness of how companies try to influence their spending habits through advertisements can help them see why they desire certain products.  I think so many people struggle to make the right spending decision because of what they want.  The kids need to learn to be disciplined with their budget and spending so they can eliminate financial stress in their life.  Through maintaining a weekly budget in class they can learn how to be disciplined with their expenses.