3 Replies Latest reply: Jul 21, 2012 3:43 PM by Denise Tuck RSS

The Education Department advocates teaching financial literacy.  How do you teach students fiscal solvency concepts?

Khorn Novice
Currently Being Moderated

While most of us can agree that financial literacy is not one of our focus subjects being taught in our schools today, I wondered how you are pushing this agenda in your school.  What specific resources have you found to be the most effective in helping students to understand the fiscal solvency concepts?

 

The article that was published today concerning the Education Department's agenda on financial literacy is referenced below:

http://www.thetakeaway.org/2012/jul/17/reading-writing-rithmaticand-personal-finance-sec-arne-duncan-teaching-financial-literacy/

  • Re: The Education Department advocates teaching financial literacy
    dcompanion New User
    Currently Being Moderated

    Financial literacy is such a huge part of our capitalistic society, our children really struggle to understand how everyday financial decisions can have lifetime consequences on their lives.  Personal finance should be part of the curriculum for high school seniors, it is crucial that we never again allow a capitalistic educated society to be taken by the greed stricken banking system we witnessed over the last decade.  Millions of Americans lost their life fortunes from a complete system of fraud and irresponsible lending practices for which previous generations would have never allowed to happen.  We live in a world where every person has a FICO score stamped on their back and this FICO score know dictates who we are without any personal interaction with lenders, insurance companies, employers, and many other intrinsic parts of society. It is amazing how much financial fraud has occurred and yet the most developed country in the world allowed it to happen.  Unfortunately, we have lost our true checks and balances within our government and society to make sure over indulgence doesn't become the norm, and now we are witness to these huge ramifications.  It seems crazy to watch so many local governments across this country cutting school budgets by huge amounts; because now the tax revenues don't justify the services.  Indivuality trumped community in the past decade and many people have suffered because of the mishandling of our monetary system in the United States of America.

  • Re: The Education Department advocates teaching financial literacy
    Denise Tuck Novice
    Currently Being Moderated

    I couldn't agree more that we are failing to prepare students and our whole society to make good personal financial decisions. Just watch the People's Court to see how often poor choices on money matters is an issue!

     

    The bad news is that teachers understandably feel there isn't time to add this to their already full plates. The good news, however, is there are resources that can address financial literacy along right with reading, writing, math, and other content areas.

     

    Share the excellent lesson plans found at EconEdLink with your colleagues where they will find engaging activities on topics such as banking, barter, supply and demand, economic choices, opportunity costs and a lot more. These lessons are often disguised as literature, math, or interactives requiring critical thinking and problem solving skills, so stuents will be developing core concepts along with the economics principles. There are lessons for all grade levels K-12 so we can begin teaching economics and personal finance as early as Kindergarten. Imagine how much more our students will have mastered in this area by middle or high school!

     

    Here is one of my favorites, The Mitten, which demonstrates the concept of scarcity in the context of a book teachers may already be sharing with the class. Choose a grade level to see how many others of a similar cross-curricular nature are available from this site.

  • Re: The Education Department advocates teaching financial literacy
    Denise Tuck Novice
    Currently Being Moderated

    I couldn't agree more that we are failing to prepare students and our whole society to make good personal financial decisions. Just watch the People's Court to see how often poor choices on money matters is an issue!

     

    The bad news is that teachers understandably feel there isn't time to add this to their already full plates. The good news, however, is there are resources that can address financial literacy along right with reading, writing, math, and other content areas.

     

    Share the excellent lesson plans found at EconEdLink with your colleagues where they will find engaging activities on topics such as banking, barter, supply and demand, economic choices, opportunity costs and a lot more. These lessons are often disguised as literature, math, or interactives requiring critical thinking and problem solving skills, so stuents will be developing core concepts along with the economics principles. There are lessons for all grade levels K-12 so we can begin teaching economics and personal finance as early as Kindergarten. Imagine how much more our students will have mastered in this area by middle or high school!

     

    Here is one of my favorites, The Mitten, which demonstrates the concept of scarcity in the context of a book teachers may already be sharing with the class. Choose a grade level to see how many others of a similar cross-curricular nature are available from this site.

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