An Early Start on Financial Literacy Pays Off



one of the biggest challenges that schools everywhere face is engaging their students in the education process making school relevant making school matter to the kids and their families we're always looking for a school that's nailed that challenge in this month schools that work we go to the Ariel community Academy in the southside of Chicago where with a student population of modest means they've seized on the vehicle of financial literacy to engage the students and engage their families teaching kids about money teaching them about family economy and to break the cycle of poverty critical thinking is what every school teaches or hopes to teach or attempts to teach but the thinking is not just enough you've got to have action and I think financial literacy is the best venue for that because what's more global than money this is a title one school so we have lots of kids who are living at or below the poverty line these are average kids who have the absolute ability to learn and to understand finance and economics because it's couched in a way that relates to their everyday life and relates to decisions that they are actually making or will have to make in the future financial literacy is a body of knowledge investing or entrepreneurship are the subjects so we have four main components of the curriculum the first grade is personal finance second grade is a combination of economics and personal finance and third grade is about monetary policy and what money is and how does money work we'll starting in fourth grade it's a lot more fluid we want teachers to be able to pick and choose and so instead of teaching specifically to the test we strive to make everything relevant arielle students typically score much better in math and better in reading the curriculum needs to be deep it needs to be encompassing the point of student success is for students to understand that with every single classroom that they participate in it is directly connected to their own life goals so our investments class today we're gonna talk about spending our money what did we do last investments guys who can think back and remember what were we spending our money on what were we doing he has things at the carnival the kids really respond well to seeing other children making decisions in literature that we read so either watching a video or reading a book is a great way to get them invested listen to this story carefully let's think is this about planned spending someone thought about it carefully or is this about unplanned spending they just saw and they bought it penny ran to her room to get some money from her savings bank when she put money in that bank what is that called when she was saving up all her money she put the money into the bank Jannard yes she was depositing her money mom was going to get paper towels plant food and a book about flowers for Miss Kim's birthday present penny added a notebook to mom's shopping list page a Penny's mom made a shopping was just like your parents did this is super important for all children it's very important for the kids that we teach low-income children have fewer chances they already have the deck stacked against them and oftentimes they are not the ones who are getting the opportunity to network to meet people and to take charge of their lives so that they can graduate high school and you to find a job or go on to higher education these kids are on a track to go to excellent high schools and to be accepted into college and we give them the tools and hopefully they take that feel inspired and plan their life the way that that they want to live what we really want kids to get to believe in themselves to know I can do this and that yes I'm gonna think critically I'm going to come up with a good game plan you know it's not just thinking you have to do it you have to be active you

6 thoughts on “An Early Start on Financial Literacy Pays Off”

  1. cool warren buffet first business adventures maybe some kids from there will do the same and will build jobs and good stuff 

  2. Hello Edutopia! This video is great, and I am seriously interested in translating it- to Arabic. What is your policy regarding that? Thank you for the great videos ..

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