KBLOG 58: Kurtz Academy, My Perfect School: Part 1. Financial Literacy
The Challenge:
There were two experienced teachers who took me under their wings when I just started my first teaching job in public school. They were key role models; I will forever be grateful to them. One of the most important things I learned from them is to understand, learn about and take care of my financial situation. Here I was in my twenties and a total financial illiterate. My fellow teacher mentors directed me to financial, books and magazines. They “forced” me to start taking money out of my, at that time meager paycheck, and put into a tax deferred retirement account. I will be forever grateful to those teachers who put me on the right path to financial literacy. No young person should be ignorant of financial matters! In my perfect school every student must become financially literate. Money matters touch on so many aspects of learning and life. These aspects include, data, math, discipline, decision making, risk and reward, charitable giving, mental health, savings and investments.
A Solution:
There are four basic components connected to financial literacy:
1. Saving
2. Investing
3. Spending money
4. Charitable giving (money/time)
Schools, homeschoolers, parents and teachers must educate themselves on how to help the children in their care to be financially literate. This is a gift that is one of the most impactful gifts you can give a child. When a child receives money (gifts, allowance) or works for it, the young person, with the help of an adult must divide the money, no matter how small the amount, and be put towards different purposes according to a plan that the child and adults in their lives have developed. I hope one day that financial literacy will be part of all curricula. I know it will be mandatory one day at Kurtz Academy. Below are some resources to help you get started in your quest to educate young people in all aspects of money.
Resources:
FitMoney, Free unbiased k-12 Literacy programs -https://www.fitmoney.org/
Financial Literacy for Kids (video) -https://www.youtube.com/watch?v=vYg6pZZ53Xg
Want to teach your kids about money? (NPR) -https://www.npr.org/2021/07/27/1021262899/finance-money-tips-kids-families-conversations
Kids Financial Literacy - https://www.financialeducatorscouncil.org/financial-literacy-for-kids/
Financial Literacy for Kids: Lessons, Activities and Teaching Tips -https://www.weareteachers.com/what-is-financial-literacy/
FDIC, Money Smart for Young People -https://www.fdic.gov/resources/consumers/money-smart/teach-money-smart/money-smart-for-young-people/index.html
Financial Literacy for Teens (video) -https://www.youtube.com/watch?v=Hh-beQj1OK4
Unlocking Generosity: Teaching Kids to Give the Right Way -https://houseoftheharvest.org/giving/teaching-kids-to-give/
