April is National Financial Literacy Month. The Federal Reserve Bank of St. Louis supports financial literacy by providing classroom-ready resources and professional development programs for educators. (See the Bulletin Board section of this newsletter.) Here are some resources for teaching personal finance content and skills in the K-12 classroom.
In this lesson students listen to the story of Beatrice and her family. The students learn what it means to save and use estimation to decide whether or not people have enough money to reach a savings goal. They also work through a set of problems requiring them to identify how much additional money people must save to reach their goals. Students learn what opportunity cost is and identify the opportunity costs of savings decisions made by Beatrice and her family.
Students learn about saving, savings goals, interest, borrowing and opportunity cost by reading Less Than Zero. Students use a number line and a line graph to track spending and borrowing in the story.
This video series covers a variety of personal finance topics. The brief videos use clear, simple language and graphic elements so that viewers can better visualize the personal finance content presented. In the end, they will see how important these concepts are to their everyday lives.
Chats in the form of instant messages will help students learn basic personal finance skills, such as using prepaid debit cards and getting a car loan.
This is a set of five personal finance online programs encourages participants to learn about three areas of personal finance: credit cards, debit cards, and purchasing a car. The programs can be used together or individually to enhance personal finance learning.
Credit can be a powerful tool when you know how to use it wisely. This course teaches about different types of credit and the costs associated with using credit. Participants learn the importance of building strong credit by borrowing wisely and paying promptly, arranging credit for making major purchases such as a car or home, avoiding common credit mistakes, and monitoring their own credit. They also learn about credit reports, credit scores, and the steps they can—and should—take to build their own credit cred!
This set of nine lessons is designed to introduce participants to a variety of personal finance topics, including the link between education and income, budgeting, the benefits of saving, and credit reports. These lessons help participants make sense of W-2s, W-4s, pay-day loans, and APRs in an interactive online format.