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Financial Literacy Begins at School

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Lesson Planning Channel

According to the National Endowment for Financial Education, as few as ten hours of classroom instruction can be enough to persuade students to improve their spending and saving habits. This week, Education World offers lessons to help get them started on the road to financial responsibility! Included: Lessons about budgets, credit cards, producers and consumers, and more.


According to Youth and Money, a study conducted by the American Savings Education Council, fewer than half of U.S. high school and college students have a regular savings plan. Only about one-fourth of those students stick to a budget, and more than one-third don't keep track of their spending at all.

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Practical, Hands-On Financial Literacy Lessons
Managing money is not an innate skill, as the high rate of debt in the U.S. shows. Lessons on managing money should be part of a formal education, many believe. Programs like Hands on Banking give students practical lessons in handling their finances. Included: Descriptions of how to use a financial literacy program in the classroom.

Financial illiteracy isn't limited to students. Half of U.S. adults received a failing grade for their knowledge of basic economic concepts, according to a survey conducted by the National Council on Economic Education.

The costs of financial illiteracy are high -- and they last a lifetime! April is Financial Literacy for Youth Month. Why not spend a few minutes preparing your students for a lifetime of financial security? The lessons below will help!

A brief description of each activity appears below. Click any headline for a complete teaching resource.

Where Does the Money Go?
Students learn about personal budgets and create their own. (Grade 6-8, 9-12)

Charge!?
Students compare the features of three different types of credit cards. (Grade 9-12)

Who Am I?
Students play a game of charades, acting out the roles of producers and consumers. (Grade K-2, 3-5)


ADDITIONAL RESOURCES

Lemonade Stand
In this online game, which teaches the basics of supply and demand, kids run a lemonade stand.

Moneyopolis
This Web site, maintained by Ernst & Young LLP, includes lesson plans, activities, tools, and an interactive game to teach basic financial planning concepts to students in grades six through eight.

NEFE High School Financial Planning Program
The National Endowment for Financial Education (NEFE) provides this free curriculum program, which uses games, simulations, and interactive activities to teach high school students how to manage their personal finances.

Tonya Skinner's Business Education Lesson Plans and Resources
This site contains lots of lesson plans, activities, tools, bulletin board ideas, and other resources for business education teachers.

Economics Resources for K-12 Teachers
Economic Education Web offers lessons, activities, and other resources geared toward Nebraska teachers -- but valuable for all teachers.

Consumer.gov
The U.S. government maintains this one-stop source for federal consumer information.

EconEdLink
Search for economic lesson plans by title, grade, standard, or lesson plan type at this site of the National Council on Economic Education.

AskERIC Economics Lesson Plans
This AskERIC site provides a number of lesson plans for economic education.

McREL Hot Links by Subject: Economics
The lesson plans, activities, and curriculum resources at this site link to corresponding standards from the Mid-continent Research for Education and Learning (McREL) Standards Database.

Consumer Education Materials
The goal of this site is to educate students and their families about how to identify scholarship scams and rip-offs.

Consumer Education
Home Economics Resources Online provides an assortment of consumer and financial resources for economic education.

Bank Directory & Consumer Banking Guide
BankSite provides a number of financial planning tools, including a Loan Term Calculator and a Monthly Payment (Personal Loan) Calculator.

Consumer Scavenger Hunt
This online scavenger hunt and accompanying essay questions were developed by the California attorney general's office for National Consumer Protection Week.

Spending Habits: Money in Motion
In this WebQuest from the Family and Consumer Sciences Department of the North Salem (New York) School District, students create a newsletter on kids' spending.

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