Hello, I am
back! It has been a few weeks since I last posted and let me tell you…. I have
become very knowledgeable about 9 different literacies we can incorporate into
the classroom! In my previous post I had named all 9 literacies but for all you
new readers, let me name them again: Multicultural
Literacy, Moral Literacy, Mental Health Literacy, Media Literacy, Global Literacy,
Financial Literacy, Environmental Literacy, Digital Literacy, and Critical
Literacy. It was quite interesting to learn how we can incorporate all of
these literacies into a classroom in innovative ways.
In my 21ST
Century Literacy class, Dr. Laura Lane formed literacy jigsaw groups where we
became experts about one particular literacy and then taught our peers about
that specific literacy. Today, I will only focus on financial literacy since in
my eyes it was very interesting when learning about this literacy in the jigsaw
groups!
What is
Financial Literacy?
Financial literacy has been defined as the application of knowledge, understandings, skills and values in consumer and financial contexts and the related decisions that may impact the self, others, the community and the environment (Blue, Grootenboer, & Brimble, 2014). So what does this definition really mean? Since there has been an ongoing economic crisis, financial decisions are becoming even more complex than they were, and the ways of accessing financial products and services are rapidly increasing! Young children need a wide range of skills and knowledge in regards to their money and finances in order to make informed choices and to understand financial risks that they make face when they are growing up (Ministry of Education, 2010).
Above is a quick link you can refer to that recaps what financial literacy is! This young lady explains financial literacy in the simplest terms so I highly recommend you watch it!
My Personal
Experience in Relation to Financial Literacy
When I was
younger, I do not remember learning about finances in the classroom and
therefore I can honestly say I am just learning how to become a financially literate citizen! I am just starting to understanding terms such as debts, taxes, loans, how to save and
budget, etc. If I had the opportunity to become a financially literate citizen
in my earlier years, maybe I would be more knowledgeable about my finances! So
with this being said, I WANT TO HELP MY STUDENTS BECOME FINANCIALLY LITERATE
CITIZENS! I think financial literacy can be introduced and incorporated into a
classroom as young as Kindergarten. We could involve a saving and spending
habits lesson into math class one day! This would help students understand what silly things they shouldn't spend their money on, and what their money should be saved for! This introduces the importance of money management
and would force them to begin to critically reflect on what their money should be used for.
Three Ways I
Think You Can Teach Existing Topics & Lessons from a FINANCIAL PERSPECTIVE
- For Math lessons about percent, incorporate social responsibility objectives as kids discuss what saving or giving 10% means.
- For Language Arts lessons, choose reading passages from the newspapers or magazines about money-related topics, either locally or globally.
- For Health class, discuss organizing a budget or planning a grocery list (How to spend your money on something you need…FOOD)
References
Blue, L., Grootenboer, P., & Brimble, M.
(2014). Financial literacy education in the curriculum: making the grade or
missing the mark? International Review of Economics Education, 16, 51-62.
Ministry of
Education. (2010). A sound investment: Financial literacy education in ontario schools. Retrieved from https://www.edu.gov.on.ca/eng/Financial_Literacy_Eng.pdf
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