Q. For teachers who do not teach
only financial education (i.e., elementary school teachers), how do you
recommend they fit finance lessons in with their current curriculum?
A. I was very fortunate to be asked
to be a member of the working committee for the President’s Advisory Committee
on Financial Capability. Our committee selected from existing websites, texts,
news reports, and research straightforward and practical information plainly
presented in an age-appropriate manner that English teachers and Math teachers
can integrate into their lessons, aligned with the Common Core State Standards.
The content is being particularly written around “11 big ideas” that drive the
personal finance effort.
The guiding concepts:
Compound interest, which leads to discussion of saving
Opportunity cost, which leads to smart decision making
Value of education, which leads to wise choices about finding a college and
paying for it
Risk, which leads to discussion of diversification and insurance
What money is, which leads to understanding what it can and cannot buy
Time value of money, which leads to more informed purchasing, investing and
analysis, which leads to better decision
Setting Goals, which leads to desired outcomes
gratification, which leads to the ability
to consume more in the future
Scarcity, which leads to acknowledging limitations and making choices
Inflation, which leads to discussion of how to mitigate its effects on
saving and investment
My suggestion would be to visit www.moneyasyoulearn.org in the coming months to download turnkey resources that can
be easily integrated into the classroom.
Q. You’re also an advocate for educational
technology. What are some of your favorite tech resources and tools that
support classroom lesson planning and research on financial literacy?
A. I love game based learning. Here
are my 30 favorite financial education games. I particularly like using video
clips to introduce topics as well. My two favorites are: Bill Cosby on Budgeting, and the Marshmallow Study.
Brian also did a
wonderful article with our friends at Edutopia about his favorite games to
teach financial literacy. Read all about it here.
Q. Please share a memorable moment from
the classroom that illustrates the value of bringing financial education to
A. Anytime a student can demonstrate
to me they made a wise financial choice, it’s memorable. For example, I will
never stop being excited when I hear a student tell me that they set up a
direct deposit at work, or they finally understood how to complete their W4, or
they are actively using their mobile banking app on their phone. These are the
moments that constantly confirm how teaching financial literacy can truly
Follow along with Brian on his blog, and read his first post with us here.
If you would like to bring BizWorld curriculum ( which teaches the basics of entrepreneurship, business and finance) to a classroom for only the cost of shipping, click here.
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