Money Lessons: A Guide to Financial-Literacy Resources

The Internet offers teaching tools on economics for any grade level.

The Internet offers teaching tools on economics for any grade level.

Helping your students get a handle on finance doesn't have to take up a big chunk of your school year, especially if you have the right lessons at your fingertips. Whether you teach fourth-grade social studies, seventh-grade math, or high school economics, chances are you can begin online to plan a money-management class. From downloadable lesson plans that take up one class period to online games that teach key concepts, Edutopia has found the Web resources that can get you started. Here they are, broken down by grade level.

Elementary School

On the Federal Reserve Bank of New York's Education page, you'll find the Econ Explorers Journal, a workbook designed to help elementary school math students understand money. One activity has students visit their local bank to collect savings account and checking account deposit slips and a car-loan application. Then they create characters who deposit and withdraw money, pay bills, and take out a car loan, all the while drawing pictures to illustrate what happens at each step. The lesson teaches the basics of bank accounts, interest rates, and budgets.

The National Council on Economic Education (NCEE) offers the EconEdLink Web site, which includes dozens of free, downloadable lesson plans for K-12 students. For elementary school students, check out A Perfect Pet, which teaches kids about how people have to make choices when they have limited resources. It uses a downloadable story about a trip to the pet store, as well as a puzzle and other activities, to reinforce the point.

The Jump$tart Coalition for Personal Financial Literacy has links to hundreds of other Web sites that offer lesson plans geared toward every grade level, especially elementary school grades. Check out, for example, this lesson on borrowing and lending from Take Charge America. It's a natural for social studies teachers covering a unit on the Revolutionary War. It teaches lending using a book about Benjamin Franklin and facts about how the American colonies borrowed money from France for the war effort.

Middle School

Middle school math teachers can teach basic financial literacy using a downloadable, four-lesson math-curriculum supplement called Money Math. Students use math concepts to learn about budgets, expenses, interest, and taxes. For instance, a lesson called WallpaperWoes asks students to figure out the area of a room that needs to be wallpapered and calculate how much it will cost.

For lesson plans that prepare students to be entrepreneurs, check out those from NCEE, such as All in Business. You'll find activities that teach business-plan essentials, including how to figure out a business's costs and benefits. It also offers links to other Web sites that can supplement the lesson, such as the Real Planet, which uses funky characters to teach young teenagers about entrepreneurship. Other lessons on the topic for elementary school, middle school, and high school students can be found at These Kids Mean Busines$.

The Web site Rich Kid, Smart Kid has a number of financial lesson plans for all grade levels, including some interactive games.

High School

Teach your students how to budget with a lesson from the Federal Reserve Bank of San Francisco that also prepares them for the financial realities of different jobs. Students learn about budgeting, saving, and investing, and they can play a game to help illustrate how one's education, job, and spending habits make a difference to their financial security.

To prepare your students for the barrage of credit card offers they'll encounter, go to Consumer Jungle. The site requires registration, but the materials on it are free. Choose the section on credit, and you'll get a complete unit, including an outline, the standards it meets, vocabulary, and lessons that range from how to choose a card to the meaning of credit scores. You can also download Microsoft PowerPoint presentations.

Create Your Own

Are you game to write your own financial-literacy lesson plans? A number of sites offer materials and programs to help. The American Institute of Certified Public Accountants offers a financial literacy section on their website with advice for young children and teens about money, a video on budgeting for older kids, and activities for elementary school students.

To teach high school students about personal bankruptcy, the U.S. Courts (the official Web site of the federal judiciary) has a program that gives teachers the option of bringing their classes into the courtroom. Or you can show your students how to create their own businesses with help from Bplans.com. Geared toward professionals, this site has detailed instructions for writing a business plan and tips on how to find funding.

Montgomery Blair High School business teacher Kevin Murley tries to give his students lessons on investing, credit, and budgeting, along with lessons on entrepreneurship. The Silver Spring, Maryland, educator is a believer that beyond reading and writing, "the things that make for a successful life are your health and your financial health." And he wants to instill in his students "a concept of how important money is."

Alexandra R. Moses is a freelance writer in the Washington, DC, area who specializes in education.

This article originally published on 8/22/2008

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Comments (9)

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Financial Advisor

thank you for this amazing

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thank you for this amazing resource which I will share with my teachers. Online lesson plans are a great way to share and learn (building community among teachers). I also have a lens for teachers - about learning great classroom management skills. I'd love it if you gave it a read and let me know what you think about it. My mom was a public school teacher. How I wish there were online opportunities such as this during her time. She wrote lesson plans by hand and used lots of reference books to make them.

Manager of Web Content, Federal Reserve Bank of Cleveland

Additional Financial Literacy from the Federal Reserve

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The Cleveland Fed has a terrific, free activity book, entitled "Great Minds Think: A Kid's Guide to Money," for middle schoolers. (http://www.clevelandfed.org/Learning_Center/Online_Activities/great_mind...)

For high school, the Dallas Fed has a book entitled "Building Wealth," which goes deeper into financial management. (http://www.dallasfed.org/ca/wealth/index.cfm)

The Federal Reserve Education site, http://federalreserveeducation.org, offers even more. The US Central Bank takes its responsibility to help educate people about the value and management of money very seriously.

Let me know if I can help put you in touch with even more--
Stephen

High School Math Teacher, Sebastopol, California

Thanks Justin. This site is

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Thanks Justin. This site is so perfect. Can't wait to use it with my 9th graders for a lesson on percent/fraction/decimal, once they get their budgets.

High School Math Teacher, Sebastopol, California

Awesome! Thank you so much

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Awesome! Thank you so much for passing this site along!

The Best Tool

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The following is a great budgeting tool for students in California. Timely given the number of students graduating into this economy:

www.stayingahead.org

Costs $0.

Creating education technology to help students learn.

Another Financial Literacy Tool

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Another cool tool, although one that is primarily delivered via local banks and credit unions is MoneyIsland. It's possible to try out the first part of it on this site: http://www.bancvue.com/financial-literacy/moneyisland.html.

Another useful resource

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http://www.simceo.org/action/welcome

This website costs $1 per user, so it's affordable. It has a pretty cool investment/stock market simulation......but it's better than any stock market simulation i have ever seen. SimCEO. Check it out.

Computer Lab Assistant, Laird School

Financial Literacy

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I come from a background in banking. I have a powerpoint that I use to teach students at my K-8 school on the financial value of an education. Then I use many of the links on my delicious site for my students:

http://delicious.com/lairdleopard/Finance

Barry Striegel (not verified)

Mini-Society Summer Camps

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Please review the attached web site re: our young entrepreneur summer camp program. One camp in '06, seven camps this summer. Planning for at least three more in '10.

Real world entrepreneurship, collaborative action & civic leadership. An active model of project/cooperative/personally relevant T&L. We're a combination of Dewey, Wittrock, Kourilsky, Krugman, Gladwell.

Come visit! Start up your own business.

Barry

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