I overheard one of our students telling another student in the hallway that he owed $18,000 in credit card debt. Having heard that conversation this topic became more important to me. As part of the Orlando Magic, I participated in a session titled Equity in the Classroom. One of the subjects was on financial literacy . The Community College of Baltimore County has put 17,706 students through a required Financial Literacy Curriculum. Check out this amazing video: http://www.ccbcmd.edu/moneymatters/. After watching this video it made me wonder how can I incorporate financial literacy in my classroom…here are a few examples:
Global Business: Explore poverty in the world and at home, how does poverty impact the cultural, political, and economical agendas of these countries. Explore ways individuals, businesses, and countries can help lead their people out of poverty.
Introduction to Business: While exploring business finances and credit, expand on personal finance and credit. Visa has a great website http://www.practicalmoneyskills.com/index.php with classroom tips and suggestions and a fun Financial Football Game. Dave Ramsey has lots of great tips, video interviews, etc. http://www.daveramsey.com/home/.
Other topics you can incorporate: media bias and poverty, paying for college, rent-to-own financial services, overcoming unexpected financial challenges, understanding your credit report, financial Investing, etc. They can research and write about it, math activities can be incorporated…Something as simple as handing out piggy banks to continue the awareness.
One of my students suggested a simple savings plan in class. First week of the year save $1. Second week of the year save $2. Third week…$3. By the end of the year you would have saved well over $1000 relatively pain free. So the challenge to you is how can you help make money matter to our students so money is not a barrier to education?