4 Replies Latest reply: Feb 26, 2014 8:58 PM by Jane Brown RSS

How do you help students make good decisions about money?

Jane Brown Master
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April and Tax Time causes educators (and parents) to reflect on how schools are teaching financial literacy (anything to take our minds off of meeting the dreaded IRS deadline.)  Common Core Standards now require us to teach students to analyze and think critically.  What is your school  doing to help students make good decisions about money now and for their future?

 

One idea that doesn't take a lot of time in the classroom might be helping children understand the difference between Needs vs Wants:

  1. Have students define Needs and create a hand signal for something they agree is a need.
  2. Have students define Wants and create a hand signal for something they agree is a want.
  3. Verbally give students a word and ask them to use their hand signals and classify the item as a want or a need

 

They may not always agree:

 

  • Water - Do all students agree this is a need?
  • Pizza - Do students collectively see pizza as a need? Do some see it as a want?  Can it be both?
  • Animal - Is an animal a want (pet) or might some students think of a child who medically needs a cat for emotional stability, a monkey as a need because they watched a show the night before on veterans without limbs given monkeys to help them with tasks, or even a dog who is a see-eye dog might well surpass want to be a need.

 

You can reinforce this idea throughout the school year using those little moments of time that we can easily fill with a quick word challenge.

 

So, tell me more.  How do you help students make good decisions about money?

 

 

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