8 Milestones to Cover when Teaching Kids About Money
Teaching Kids About Money is a subject of interest to many, and you have reached the right place if you’re seeking information about that. Here you will discover resources, information, and a step-by-step guide for Teaching your kids About Money.
There are eight phases in the best practices for teaching kids about money. Here’s a good example of how a person turned his passion for helping kids get important money management skills into actuality:
Jackson Briggs was a seventh-grade teacher with a vision. He was interested in teaching kids about money, and he wanted to bring personal finance education to the 6th-8th-grade students at his middle school. Jackson knew his audience quite well; he’d been teaching these kids for almost twenty years. But he needed to find out how much financial education they were getting at home. Jackson created a questionnaire titled, “Teaching your kids About Money,” and sent it home with his seventh-grade students to get parent feedback on the kids’ money knowledge. Most of the students brought the survey back, and Jackson learned that the kids were only receiving a minimal amount of financial education from their parents.
Jackson had settled on his initial and longer-term goals. Now he was faced with choosing how to deliver the materials for Teaching Kids About Money. Since the students had received little financial education so far, he decided to build the program to be paced according to their achievements. Jackson wanted to deliver the lessons himself in class, but also wanted to get the parents involved – so he chose a hybrid of classroom instruction and take-home activities for the kids and parents to do together.
Phase 5 involved finding a qualified educator to beging teaching the financial literacy lessons – someone with both content and pedagogical skills. Because Jackson wanted to strengthen his own knowledge of the subject matter, he decided to undergo training to become qualified himself. He landed on the NFEC’s Certified Financial Education Instructor (CFEI) program, through which he could gain credentials and confidence in his ability to teach kids about money.
Out of Jackson’s 28 seventh-graders, 25 (89%) took all five of the financial education lessons, and all 28 (100%) took at least one of the courses. Using measures provided in his curriculum package, Jackson tested his students, whose scores improved by 22% after the five lessons. Mr. Briggs summarized the information in a report for the school board, to demonstrate program impact.