Teachers... Start Here
Welcome to the the Financial Literacy group. I say group because we are a collective of teachers who have worked to develop a comprehensive Financial Literacy course to make teaching high-quality content easy for teachers regardless of personal experience... or performance.
How the course works.
This is a complete solution. You can use it in its entirety or pick the parts to use.
This is a plan of financial happiness. While we cover the pitfalls that plague so many, we strive to teach financial principles that will elevate the students potential life-style.
If you have financial issues in your personal life you are NOT a hypocrite to teach correct financial principles even if you cannot live by them. As a teacher, you have a higher calling to teach correct principles and what should be done. If anything, we have examples of how not to do it and the consequences of making financial mistakes and the time involved in fixing them.
While finances can be intimidating and a source of frustration, try to remain positive in front of the students. Remember, they haven't made many or any financial mistakes. If they are taught correct principles then their finances can be a source of great joy in their lives as they spend their money on quality purchases that move them towards their goals.
If you join, you will receive access to a Google drive and Website (finaceintheclassrooms.org) with all of the materials, including Fall and Spring scope and sequence documents that provides an outline of the course day-by-day. All you have to do is follow the outline provided, adding your own stories and personal accounts throughout the class period.
Speaking of computers, we have tried to minimize the need for them. There are a few class periods where you will need to rent your schools computer lab (to access the Google Sheets interactive budget) but most "internet" assignments can be completed using the students personal devices.
What is included in this course?
Lecture Guide: note outlines for the PowerPoints, worksheets, Parent/Guardian discussions, and a cover sheet that outlines each class periods tasks.
PowerPoints: a link to a short introductory/entertaining video, vocabulary, graphs, useful tips to get the most out of certain concepts, and a summary.
Parent/Guarding discussions: These provide a context and understanding of a particular families view and life-goals. Since there is no one perfect "American Dream" these discussions allow the student to get a grounded understanding of their families situation.
Blog Posts: Each lesson has an aligned motivational message that reinforces that lessons key concepts.
Facebook: Current events, tips and strategies are posted on Facebook for life-long-learning. Graduates can follow the page and find helpful reminders throughout their 20's.
Projects/Simulations:
Life Project paper that uses interviews and goal setting to create a custom "road map of life" for each student.
Budget and Spending simulations to practice budgets and money management.
Tax simulation to learn how to complete a W-4 and a 1040 to file taxes without spending money on tax prep services.
Car Purchase simulation on how to negotiate the best deal on a car purchase. Exposing common add-on's and fees that drive up the cost of car purchases.
Test Reviews: There are a variety of test reviews available for each test.
Tests: Paper versions of the test are available by default but the course is also hosted on Canvas for those that can administer the tests in a computer lab.
How to use the content?
The content can be taught using whatever method you like. Some teachers like to make copies of the Lecture Guides and go through the PowerPoints, activities, and worksheets. Others completely flip the classroom and assign the Lecture Guides as homework and then complete the activities and conduct Socratic discussions during the class period. I imagine your reality will be somewhere in between.
What the class covers:
The basic financial tools necessary to "adult."
Values, Needs/Wants, and Goals
Education and Income requirements to meet your Goals.
The effect of Governments and Taxes on your Paycheck.
Budgeting and Managing your spending to reach your Goals.
Money Management tools and Pay-Yourself-First
Investing
Credit
Credit Cards
Purchasing a Car with housing in mind
Renting V/S Home Ownership
Insurance (Auto, Life, Health, Disability, Dismemberment, and Annuities)
Scams, Schemes and Id Theft
What the class does not cover:
The intention of this course is to cover the next five to eight years of the students life. It is our intention that, with a solid financial footing, they will out-earn the usefulness of this course and need to seek additional knowledge such as a wealth management company.
While we speak about the time-value-of-money's impact on retirement and the requirement to start investing early this course doesn't cover how to manage your money in retirement or detailed retirement planning.
Best Practices:
Be positive!
Tell Stories! (preview the slides and share some personal successes and failures relating to key slides.) Key points have been typed in the Notes section of most slides. Add this your personal experiences.
Believe that this class really is the most important class in the whole building and the most important class they will ever take.
Assign parts of the daily lesson to students. (have a student prepare a presentation on the daily blog post, assign current event - use the course Facebook page, have students share finance book reports, etc.)
Participate in the development of the course. This class is for teachers from teachers. If you have a contribution that you think would benefit us teachers please share it.
Thank you for sharing this information with your students and may you have a successful school year!