Financial literacy is the ability to understand money and how to manage it, so that you can make financial decisions that will benefit you now and in the future.
A financially literate person has the ability to:
* save money for short- and long-term goals
* use credit responsibly
* manage financial risks
Do you think that financial education is the sole responsibility of the family? Perhaps in an ideal world that would be great, but there are many families who struggle financially and who don't have the knowledge to make good choices and therefore can't teach their children to make wise ones either. Money management is an important life skill and needs to be included in the classroom curriculum. Below are some strategies and resources for you to support children to be financially literate.
Teacher Web Resources
- US Government Financial Education
- This site sponspored by the US government promotes financial literacy. It includes information on how to save, buy a house, avoid scams and make investments. Adult-centered. Spanish translation available.
- US Mint
- The site includes history about coins and educational games for kids. There is also a page for teachers and includes lesson plans: K-8, though mostly K-5.
- Entrepreneur in the Classroom
- The Young Entrepreneur Foundation (YEF) has developed a program called Entrepreneur-in-the-Classroom to teach high school students about the risks and rewards of operating a small business. There are three free modules, including teaching notes, activities and quizzes.
- JumpStart: Financial Smarts for Students
- There are some short lesson plans to teach students about money. Download for free "12 Principles That Every Young Person Should Know." The Clearinghouse offers additional material. Some can be downloaded. The financial curriculum materials are available for purchase.
- Financial Literacy for Parents
- This lens helps parents support their children in making wise money choices.
- Compound Interest: Rule of 72
- I remember when I first heard about the Rule of 72, a quick way to determine the amount of time for an investment to double. My brother taught it to me and I was enthralled. This website explains what the Rule of 72 is and has a calculating feature to show how close it is to the exact doubling time. As a math teacher, this is one of my favorite things to teach my students. It provides a rich discussion on the value of banks and when it's appropriate to invest and why.
- Michigan Teachers Network
- Lots of financial literacy curriculum sites.
- Montana University Financial Education Curriculum
- Montana University provides financial education curriculum for 6-12th grade. There is a fee for the materials.
Teacher Resources
Learning, Earning and Investing: High School
This is an excellent resource for both middle school and high school. The first 15 chapters are in the middle school's version too. So it's a better deal to get the high school book.
Amazon Price: $24.95 (as of 01/07/2010) 
Investing For Dummies, 4th Edition
Amazon Price: $11.66 (as of 01/07/2010)
Mutual Funds for Dummies
Amazon Price: (as of 01/07/2010)
More Educational Resources by Rebecca Newburn
- My Home Page
- Links to all of my teacher, student and parent resources can be found on my home page. There a many excellent sites, especially for math.
- Information Age Education Blog
- My teacher blog will help you integrate technology into your teaching and navigate the Information Age gracefully. The digital era is about connectedness, both technological and personal. This blog gives practical strategies to create an even more engaging classroom, including how to use of the Law of Attraction.
Investing Videos
History of the Dow [VHS]
This is an excellent video about the history of the Dow produced by the History Channel. It's only available as a VHS.
Amazon Price: (as of 01/07/2010)
Nightly Business Report: Video Library of Personal Finance- 4 DVD Set
Amazon Price: (as of 01/07/2010)
Standard Deviants: Finance Module 4 - Investing
Amazon Price: $26.99 (as of 01/07/2010)
Modern Marvels - The Stock Exchange (History Channel) (A&E DVD Archives)
Amazon Price: (as of 01/07/2010)
New Links Plexo
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BudgetWorksheets.org - Free Printable Budget Worksheets and Household Planner
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Reader Feedback
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Reply
- May 3, 2008 @ 4:51 am
- Great lens you got there!
Nice Lens you got there. I find these Public Records and Background Check Resources 2 sites useful also that interest me. More power to your lens, keep going!
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Reply
- ranjanvarma ranjanvarma Jun 21, 2007 @ 1:46 am
- Nice lens. many things o learn about personal finance. Great job
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Reply
- TheresaMarkham TheresaMarkham Apr 3, 2007 @ 1:22 pm
- Hi Rebecca! I added this cool lens to my Cool Squidoo Lenses list on my Kids and Money lens. Thanks for a great lens! [Feel free to rate your lens up!]
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Reply
- jackclee jackclee Jan 29, 2007 @ 10:22 pm
- I also believe that every student should be taught the basics about Finance in addition tyo reading, writing and math. Here is my lens -
http://www.squidoo.com/finance_101/
-Jack
by Rebecca_Newburn
Ms. Rebecca Newburn has been a math and science educator for 16 years. She is interested in supporting Millennials, the New Generation, by creating re...
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