Teaching Elementary Students Financial Literacy: It’s Never Too Early

Are you interested in teaching elementary students financial literacy, but not sure how to get going? This is the right place to be – here you will find guidelines, information, resources, and step-by-step processes that represent best practices for teaching financial literacy to elementary students.

Top Criteria for Teaching Financial Literacy to Elementary Students

Key Systems for Teaching Elementary Students Financial Literacy Applications

1. Proven Effective Methodologies for Teaching Elementary Students Financial Literacy

Teaching financial literacy to elementary students requires knowledge, skill, finesse, and a process demonstrated to succeed. Read this case study to learn how the methods described here have worked for others:

Gary Griffin was an elementary school teacher on a mission: he wanted to discover the best ways for teaching elementary students financial literacy. While Mr. Griffin had outstanding teaching ability and knew how to relate well to third-graders, he lacked crucial understanding of the approved methods for teaching financial literacy to elementary students. What lessons could they grasp? What information would benefit them most? By talking with parents during their parent-teacher conferences, he gained an understanding that the students could learn basic lessons about savings, managing bank accounts, and financial psychology.

Arrangement of Teaching Financial Literacy To Elementary Students Results

Common Items for Teaching Elementary Students Financial Literacy Systems

2. Deepen Knowledge Levels When You Get to Know Your Audience

Gary set a preliminary goal of incorporating a comprehensive set of lessons for teaching elementary students financial literacy into his third-grade math classes. Since he knew the kids needed age-appropriate instruction in banking, savings, and relationships with money, he was OK with focusing on those subjects to begin teaching financial literacy, and then hoped to expand into deeper levels of knowledge as they progressed. Across the entire school year, Gary thought the students could even reach the Strategic Thinking stage on Webb’s Depth of Knowledge Scale, that is, they’d gain higher cognitive rigor for planning and reasoning.

3. Plan for Delivery and Pace Next Pillar in Teaching Elementary Students Financial Literacy

Once Gary had identified priorities and a plan for teaching financial literacy to elementary students, he could move on to select a delivery mode. This task was easy – Gary wanted to deliver lessons in-person in his math classes. However, he decided he could supplement the lessons with parent-child homework activities. The achievement-based classroom lesson plans for elementary students coupled with the self-paced homework would drive the information home in a unique way.

Accepted Teaching Elementary Students Financial Literacy Materials

Management of Teaching Elementary Students Financial Literacy Timetables

4. Which Key Topics to Focus On? Select Those the Students Most Need

Mr. Griffin was well on his way to teaching elementary students financial literacy, but now he had to design the lessons around key topic areas. He had to focus on the students’ needs as expressed by their parents first: banking, savings, and financial psychology. Gary chose needs vs. wants, identifying one’s spending profile, living within one’s means, bank account management, savings planning, and compounding interest for the first semester’s lessons. He understood that when teaching kids about money it was important to keep the topics relevant to their life.

5. There’s a Lot Riding on the Educator: Choose One with Top Qualifications

Who would present the lessons? Gary asked next. He had a burning desire for teaching elementary students financial literacy, but had no official training in personal finance. Then he learned about the CFEI – Certified Financial Education Instructor – program, which would give him the credibility and qualifications for teaching financial literacy to elementary students for maximum effect. Gary immediately signed up for the CFEI training.

Appropriate Use of Teaching Elementary Students Financial Literacy Expertise

Significant Teaching Elementary Students Financial Literacy Productions

6. What’s Next in Teaching Financial Literacy to Elementary Students? Providing the Right Resources

Where would Gary find a curriculum for teaching elementary students financial literacy in a way they could grasp and put to practical use? His third-grade class would need lessons suitably scaffolded to be age-appropriate, while at the same time being hands-on and engaging. Gary settled on a curriculum with practical, action-based materials designed according to evidence-based learning principles to be appropriate for the target age group.

7. When the Program Launches, Measuring Success is Tantamount to Sustainability

Gary finally launched his effort at teaching financial literacy to elementary students. There were 32 kids in his class, and they all participated in the instruction with enthusiasm. The CFEI training and the top-grade curriculum gave Gary an edge in terms of improving his kids’ knowledge levels. Across the course of the first semester, the 32 students showed an average gain of 35% on a personal finance knowledge quiz. Gary summarized the data for his principal, who was duly impressed and showed keen interest in expanding the lessons to reach other grade levels at the school.

Composition of Teaching Elementary Students Financial Literacy Methods

8. But That’s Not All: Keep the Effort Going with Ongoing Education, Accountability, and Reinforcement

At the end of the semester, Gary handed out participation awards to each of his students, and gave a report to their parents indicating the positive effects of teaching elementary students financial literacy. But he knew the kids would need ongoing support to retain the learning and put it into action. Gary developed a program where the kids would track their savings deposits and would get prizes when they consistently made deposits (of any amount) on a weekly basis for three months. Thereby teaching kids financial responsibility through action. This system rewarded positive financial behavior and kept the kids thinking about the money management lessons they’d learned. Gary believed his plan for teaching financial literacy to elementary students was an overwhelming success.