Gasoline is a great metaphor for teaching kids about money
Money is like fuel for a car; fuel is measurable, gets used up and has to be replenished. How does this compare with teaching kids to manage money?
Category: Financial Literacy
Who’s driving your money?
When driving your car you routinely glance at the fuel gauge, check the speedometer and the odometer. This information helps you decide when to re-fuel, when to adjust your speed, and how much farther you have to go. Managing money similar to driving a car, but most of us pay more attention behind the wheel than with our finances.
Money is Math
At the Financial Literacy Summit 2011 in Chicago earlier this month, leading financial literacy experts talked about improving financial literacy levels for people of all ages. There was the repeated mention of one necessary basic skill. Take a guess.
Notes from Financial Literacy Summit 2011
On Monday, I attended the Money Smart Week Kickoff and Financial Literacy & Education Summit 2011 at the Federal Reserve Bank of Chicago. The program featured leading financial literacy experts who talked about improving financial literacy levels for people of all ages. As an author, mother and journalist, I expected to leave with the answers [...]
What’s NOT in Your School’s Financial Literacy Curriculum?
Kids can learn lots of good information in school, but as we all know, what happens in the classroom often stays in the classroom. One exception is driver’s education where teens can’t wait to get done with the book learning and get their hands on the steering wheel.
What’s in Your School’s Financial Literacy Curriculum?
If, as a parent, you expect that your child will become financially literate in school, you may be disappointed. To start with, not all states require classes in the subject. If your kid will be taking a financial literacy class you could be surprised to know what topics will be covered.
Are Financial Literacy Classes the Answer?
Financial literacy classes are touted as the new solution for learning how to manage money. Schools are expected to add financial literacy classes even though it’s not entirely clear what information should be included or who should be teaching this subject and in what grades.
Kids Need More than Financial Literacy to Avoid Financial Disaster
Teaching children financial literacy is important, yet it is not the complete solution. The only way children can avoid making mistakes with money is by becoming financially competent, a skill that is not developed in the classroom.