Reflection on Financial Literacy

This Financial Literacy course will benefit me personally as well as students and youth that I interact with as I have gained a lot information and knowledge about financial matters.  Financial literacy was not part of my educational background although I did have an Econ 101 college class which was painfully boring to me. We were not taught financial literacy at home and many students may not be given the advantage of understanding how to handle finances from their parents.
In discussing how to teach kids about finances with one of my high school students, she shared with me how her mother helped her learn about finances. Her mother gave her $400 before school started and told her she had to purchase all of her school supplies and clothes with the money.  The student shared with me that she had to make some hard decisions. She really wanted the expensive pair of jeans but she had to decide what she would have to sacrifice somewhere else to pay for the $100 jeans. What a great way for kids to learn about wants and needs.    
Which leads me to the lesson on needs verses wants. I feel like children should be taught the difference at a young age especially since we live in such a materialistic society.  At young age it seems every kid wants the latest smart phone among other things. Loved the interactive games on what's in the bag.  Younger students I think would learn a lot and enjoy these kind of interactive learning games. As adults we still have to consider our needs and wants and not let our emotions take over when it comes to spending.
I chose to do my lesson plan on understanding credit reports and credit scores for 12th graders.  I did not have a good understanding myself how a score is determined and the impact it can have on ones financial life.  As a student in college, I was bombarded with credit cards offers which made it easy to get into debt. Had no idea at the time of debt owed verses available credit.  I think that seniors in high school would benefit from knowing about credit reports and credit scores so they can make educated and responsible decisions that will impact their financial future and security before they enter the real world.
So glad I chose this course and will recommend to others.

I liked the idea where the mother gave her child $400.00 to purchase needed supplies for school and clothing.  This made the student think about what she needed most. This was a good learning situation. More parents should do this too.