The 8-Step Guide for Top Money Management Lesson Plans

If money management lesson plans are what you’ve been on the hunt for, you likely already know how difficult it is to find engaging, easy-to-digest resources out there. Now you can stop stressing, because you’ve arrived at the right place. We have worked hard to develop a complete guide centered on the steps that need to be taken in order to build a high-quality financial education course, as part of our effort to help people and companies reach their peak potential.

The NFEC now offers money management lesson plans to help users around the globe, featuring totally customizable material that can be suited for any collection of people – regardless of how they stand socioeconomically or to which age group they belong.

This material is both engaging and extremely useful, it leaves a lasting mark, and also provides a fun way to absorb the information.

1. A Real-Life Money Management Lesson Plans Challenge

Let’s dive into a situation in which these resources helped someone take advantage of money management lesson plans in their own job:

Alyse oversees a group of 8 interns at a financial advisory firm, and happily acts as a mentor to all of her team members. She really wanted to show them some money management lesson plans to help them quickly develop a foundational level of knowledge, but she didn’t know where to find a reliable resource. Rather than teaching them directly, she opted to find some outside help in delivering this extremely helpful information.

Following a series of informal interviews with the majority of her interns, she realized that the majority of this group needed to start at the beginning. She knew that, because they had little-to-no basic knowledge on the topic, an easy-to-digest resource would be most beneficial.

Strategies for Money Management Lesson Plans Conclusions

2. Making the First Move

Her initial idea in this endeavor she decided to embark upon was to go at it alone – to help this group acquire money management knowledge via a series of workshops she would hold. She wished to help them improve their individual money situations as quickly as she was able to, so he felt that a no-frills program that focused on only highly-fundamental information would be perfect. She would provide a variety of money management worksheets and other information at each event.  Looking into the long term, though, she was endeavoring for them all to become semi-experts on the topic of personal financial management in the future.

Structures for Money Management Lesson Plans Best Practices

3. Finding the Right Money Management Curriculum Approach

With Alyse already settled on her near-term blueprint and long-term goals, she could then turn her attention to finding the ideal presentation method for this vital material. How would this material best be delivered? At what pace should it be presented? She hoped to go with a program that allowed the group to go at their own pace, in order to deal with their mismatched schedules – which drove her to select an internet-based program that was able to present the material.  She also filmed a series of money management PowerPoint presentations students could watch when they were free.

Alignment of Money Management Lesson Plans Approaches

Development of Money Management Lesson Plans Best Practices

4. Planning a Blueprint for Money Management Lessons

What Alyse had to move onto next was narrowing down the topics on which her program would center. As her audience was essentially a group of rookies when it came to this topic, she decided to have the money management lesson plans center mostly around just the key ideas of individual financial responsibility.

5. Figuring Out a Primary Focus

Alyse really needed to find a program option that tackled this subject focus with the use of engaging, interactive learning activities, and one that would be able to work in the face of the group’s clashing schedules. That’s why she ended up selecting a course that promised to provide a modular, flexible educational pathway for the group.

Strategies for Money Management Lesson Plans Conclusions

Essential Money Management Lesson Plans Productions

6. Hunting for Help with Money Management Curriculum

Alyse certainly had the skills to present a structured course to such a group, but she remained worried that – with her execution – the group would want more money management classes than she had time to teach herself. This drove her to think about the next question: could she get in touch with another teacher who could teach a money management curriculum while still making it entertaining. Unfortunately, she didn’t have this skillset, so she reached out to a NFEC Certified Financial Education Instructor (CFEI).

7. Following Through

Of the 8 interns that made up the group, every last one of them (100%) successfully completed the whole program through the last leg. Of those 8 successful participants, 7 (89%) said in a post-course survey that they “significantly” boosted their own understanding of personal money management. After all was said and done, Alyse generated a full report that detailed the participant data from the course – so she could demonstrate how beneficial and helpful the money management lessons had been.

Programs for Money Management Lesson Plans Extras

8. Following Up

Alyse understood right away that this first phase was simply a catalyst, and that this collection of young interns would likely benefit from ongoing support if they were going to apply this new knowledge to their own financial lifestyles. Immediately after the completion of the first leg of the money management curriculum, she individually personalized an assortment of email messages to all the group members – congratulating all of them and emphasizing the importance of keeping up the effort toward achieving their own ideal personal finances.

In order to enable them to retain what they had learned in their active memories, Alyse decided to provide them all with an additional offer of monthly sessions that would serve as follow-up courses. By accepting a proposal like that, she would be capable of helping them further build upon the foundation they’ve established in the initial money management lessons.

At the heart of any money management lesson plan lies the notion that money is going to influence our lives, whether we like it or not. In Level 2 of its Financial Capability Curriculum, the National Financial Educators Council (NFEC) reaches 3rd- to 5th-grade students with this message: Money is going to affect your life no matter what; so you need to choose whether that impact will be positive or negative.

The goal of the NFEC’s money management lessons is to help students of all ages—from preschool to adults—comprehend that their willingness to learn about money determines how money will impact their lives. It’s not hard to see how a person who’s open-minded to learning personal finance has an advantage over people who learn money lessons at the “school of hard knocks.” Money can work for us or against us, but we get to make the choice.

The NFEC’s curriculum for teaching money management encourages an understanding of how money forms an integral part of our daily lives. That includes knowledge about the concepts cost of living versus standard of living:

  • Cost of living: the average cost of life’s basic necessities such as food, shelter, and clothing.
  • Standard of living: the average level of wealth, comfort, goods, and necessities available in a given region.

These concepts, says the NFEC, are important for kids to grasp at an early age because they form the underlying principles behind learning to manage money effectively. Too many people today face debt burdens that cause them horrendous worry and stress, and that may even lead to bankruptcy or foreclosure. Teaching children money management early gives them a foundation for learning to live within their means. To this foundation they can add more money skills that eventually build a solid structure of good personal finance habits to carry into adulthood.