Considerations When Teaching Financial Education
Each person you are teaching has pre-existing financial behaviors, past experiences with money, and a unique financial situation. Due to these factors, the subject of money can evoke strong feelings and reactions in people that must be addressed by the educator.
Teaching financial literacy requires unique skill sets that bridge educational mythologies, subject matter expertise, behavioral finance, and psychological understanding. To bridge these fields effectively, financial educators must possess cross-disciplinary skill sets from each area to help students work toward a state of financial wellness and security.
Adult Influencers of an Individuals’ Finances
Financial behaviors, sentiment, knowledge, and management systems start forming in childhood and often form into habits by the time a person reaches adulthood. The problem here is that, once habits form, they are difficult to break and therefore one’s financial situation becomes harder to change.
Overcome the Challenges to Teaching Personal Finance
Although teaching personal finance poses many challenges, those challenges can be overcome and you can make a real difference in people’s lives. There are important steps to consider when planning your program and building the skills you need to teach this unique subject because a persons finance affect many areas of a their life. Consider these main areas to address: