The Minneapolis Star Tribune recently ran an article on the less-than-stellar results of financial education in the classroom. They report…
April is holy month for the financial literacy movement that has swept the nation in the past decade, as state and federal government, nonprofits and financial firms launch town hall meetings, task forces, fairs, forums, quiz bowls and high school visits.
There is, however, a problem with this well-intentioned effort to teach youngsters personal finance: Educators haven’t found an approach that clearly works.
But the news isn’t all dismal. The same article pinpoints some approaches that have shown some promise…
Educators have not found an effective way to teach financial literacy in the classroom, but they have learned a few things. Games and competition help. So do basic skills on how to find information, and so do parents.
Thrive Time for Teens Board Game
In this reality game, teens start in high school and have part time jobs. They will be faced with money and life decisions like buying cars, managing expenses, giving back to their community, paying for college, using credit cards, buying stocks and starting businesses. The winner is the teen that not only generates income and makes positive financial decisions, but also effectively manages their time and does good for those around them.
Money Habitudes™ How to be Rich in Life and Love
Introduce teens to the human side of money and the factors that dictate how people relate to money. The students journal and deck of cards explore:
- Role of individual personality and emotions in forming financial behaviors
- Common Money "personalities"
- Assumptions and expectations about money
Skills 4 Life Game (Grades 6-12)
Covers the basics of life skills including:
• Human Resources
• Environmental Resources
• Family Management
• Financial Resources
• Consumer Education
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5 Minute Living On Your Own Activities
Introduce a lesson or utilize extra minutes of class time with 50+ quick and effective activities that get students thinking about life after high school. 5 Minute Living On Your Own Activities is an essential classroom resource filled with creative, thought-provoking activities that will get students engaged in a variety of post-secondary, independent living topics including:
• Know Yourself
• Decision Making
• After High School
• Finding a College
• Money Management