Teaching effective financial literacy for high school students can prepare a young adult for a life of financial discipline and maximizing financial and educational investments. However, high school is a fundamental place to learn about financial literacy.ĭuring high school, students begin their first jobs, have new responsibilities such as learning how to drive, applying for college, and picking future career paths. Learning financial literacy can start as early as middle school. When it comes to teaching financial literacy, it is important to break down information by concepts. Strategies and Activities for Teaching Financial Literacy Focus on Teaching Conceptsįor the student new to financial literacy, there can be a feeling of being overwhelmed and confused. For students to be productive and engaging citizens, financial literacy will help with future decisions and set the foundation for personal responsibility and business skills. Today’s students live in a world that has the benefits of technology, instant access to information, and the ability to communicate and advocate through different platforms. Learning to be financial literate has immediate results and also long term returns on investment. The lack of financial literacy skills can lead to poor spending choices, increased debt, and a generational wealth gap. Importance of Teaching Financial Literacyįinancial literacy is important for current money habits and also future preparation. Financial literacy comes from having the skills and ability to budget, invest, and facilitate personal financial management decisions. This can include topics such as debit and credit cards, credit reports, college financial aid, mortgages and more. The term financial literacy represents knowing a range of skills and concepts that contribute to a person’s financial success. For the modern individual, the circumstances around the need to comprehend and master finances continues to grow. Understanding what financial literacy is helps build self-confidence in individuals and helps with planning for the future. Having a keen understanding of financial literacy can set up a path for success for families and for future leaders in organizations. To understand this importance, it is crucial that students and adults first know what financial literacy is and why it is important to teach it. For this reason, teaching financial literacy is vital to the growth of the individual and the sustainability to working and high functioning adults. Understanding how personal finance works is important to financial literacy and for both individuals and families. Personal finance is a reality for every person, from high school students, first year college students, to working adults.
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