I have identified thirteen literacies important for students to master.. Lisa Nielsen, in her blog post “Should the new math be financial literacy?” states “we have lost focus on preparing young people for what will matter in their real lives. If the education system were to provide some financial literacy classes for kids, it could make a tremendous difference in the economic success of society”. Let’s examine some ways you can easily embed their literacies across the curriculum.
Economic literacy, often called financial literacy, according to Atomic Learning, “targets the importance of making appropriate economic choices on a personal level, and understanding the connection personal, business, and governmental decisions have on individuals, society, and the economy”. The report of the NASBE Commission on Financial and Investor Literacy also offers a useful definition: “Financial literacy is defined as the ability to read, analyze, manage and communicate about the personal financial conditions that affect material well-being. It includes the ability to discern financial choices, discuss money and financial issues without (or despite) discomfort, plan for the future and respond competently to life events that affect everyday financial decisions, including events in the general economy”.
STANDARDS
Some states, such as Ohio, have an economic and financial literacy requirement in their Ohio Core state standards to be taught within social studies or another class. In their state, teachers certified in social studies, business education, marketing education, and family and consumer science are all licensed to teach financial literacy. These teachers can help develop a curriculum starting in the earliest grades to make sure these literacies are woven seamlessly throughout the curriculum at all grade levels.
The Council for Economic Education has developed a set of standards for financial literacy that start in grade three.
The strands include:
- Earning income
- Buying goods and services
- Using credit
- Saving
- Financial investing
- Protecting and insuring
Of course, financial literacy strands are also found in the National Business Association’s standards, the American Association of Family and Consumer Sciences standards, and state standards, such as the ones in Ohio, Oklahoma (7-12), Nebraska (K-12) and New Jersey (4-12). There are even sets of standards, such as the Jump$tart Coalition’s National Standards in K-12 Personal Finance Educationthat can serve to help you embed economic and financial literacy across the curriculum.
ONLINE RESOURCES
In addition to economic and financial literacy associations, there are investment firms, banks, and government agencies who provide both online and offline material to help you weave financial literacy across the curriculum.
- Council for Economic Education: EconEdLink Personal Finance
- Includes lesson plans, up-to-date information, economic data and Web links for educators
- Interactive tools and lessons for students
- Your life. your money: What is financial literacy (PBS)
- ” …dynamic, culturally aware (and true) stories of young adults in financial trouble. As their stories unfold, viewers learn how and why they ended up in trouble and how they got out.”
- Federal Financial Literacy and Education Commission (US): MyMoney.gov
- Information, games and fun facts about money, saving and planning for the future
- Curricula, lesson plans, tip sheets, guidance and helpful tools for teaching financial capability
- Clearinghouse of federally-funded research reports, articles and data sets on financial capability and related topics
- United States Mint: Financial Literacy
- Activities and lesson plans about coin to promote basic economic understanding for students
- Fox Business: The Centsables
- A cable program support page with comic books dealing with financial literacy topics
- Federal Reserve Bank (US): Lesson Plans
- Lesson plans for K-12 dealing with financial literacy; includes a literature tie-in
- Games and simulations for K-12 students
- Northwestern Mutual Life Insurance Company: The Mint
- Interactive scenarios for kids and teens dealing with saving, spending, protecting, and entrepreneurship
- H&R Block: Dollars and Sense
- Provides and gathers ideas, news, tips, and tricks for teachers and students in the area of investing and savings
- University of Nebraska- Omaha Center for Education: Economic Education Web
- K-12 concepts and lessons plans for economic and financial literacy as well as links to data sets
- Special THEN (Teach History and Economics in Education), a 4th grade curricular tie-in
- Money as you learn
- Common-core aligned math lessons for teaching financial literacy
- National Endowment for Financial Education: Tools for financial educators
- Workshop kits and money management sites for college students
- Canadian Centre for Financial Literacy: Activity worksheets
- A curriculum for financial literacy with a handbook and worksheets for adults or high schoolers
- Pinterest search on “financial literacy“
- Financial literacy iOS apps blog post
- “Financial literacy” search on Google Play store
- Financial literacy iTunes U course
Have you used any of these financial literacy sites with your students? Share your ideas on Twitter! #kathyschrock
