It’s especially important for educators to work with children on their financial literacy because a whopping 69% of parents admit that discussing finances with their children makes them uncomfortable. However, kids want to learn, with over 50% citing money management as the high-school course that would benefit them most.
However, young minds are also impatient minds, so when teaching them the ins and outs of financial management, it is also important that you make it fun for them so they will engage and relevant so they will care. As students slowly enter the workforce with hourly positions and begin preparing for college expenses, they need to learn how to balance the responsibilities of adult life.
This is where you can help.
Key Financial Literacy Concepts for Middle School Kids (Grades – 6-8)
For many teens today, financial management begins in school, teaching them the basics of finances as students slowly branch out to part-time jobs and internships. As students begin to attain this real-life work and life experience, it is imperative that they have the financial know-how to accompany this growth.
As students become teenagers, this newfound independence must be balanced with responsible spending practices. Better education in money management can help set them up for future financial success.
That means middle schools should have a solid understanding of these crucial financial concepts:
- How to budget
- How compound and simple interest work
- How insurance works
- How investments work
- Why saving money matters
- How hard work leads to greater reward
- Positive vs. negative debt
- How financial decisions affect you credit
One successful tool for teachers, tutors and parents is the 5-Day Lesson Plan. Using the latest financial concepts and teaching strategies, we offer this unique teaching and planning tool to help you get started. We’ll cover all of these concepts and more as we help you and your students wind through the secrets of fiscal management.