Curriculum Details: Financial Literacy
The Bell School Regional Gifted Center recognizes the importance of educating students in financial literacy. To this end, we are pleased to offer the Climb to Safety program as part of our curriculum. During the 2017-2018 school year, students in first, second, third, and fourth grades will participate in this program.
Climb to Safety:Teaching financial literacy one step at a time
Michelle Weindruch Executive Director firstname.lastname@example.org 847.767.3132
"Early financial education is important for individual well-being and also the economic health of the United States." Former Federal Reserve Chairman, Ben Bernanke
- Imagine this:
- It gets better:
- What happens next?
- What happens in 8th grade?
- What has the student gained?
Frequently Asked Questions
- In what grade does the program begin and end?
- How often is the instruction?
- How does instruction align with the school curriculum?
- How does the class get the initial investment?
- What happens to the investment at the end of 8th grade?
- What happens if a student leaves before 8th grade?
- What if a student enters the program midway through?
- What is the school’s responsibility?
- What is the teacher’s responsibility?
- Who is the instructor?
1st grade learning goals and outcomes:
Students will be able to distinguish between needs and wants.
Students will be able to articulate their reasoning for a want.
Students will be able to apply their knowledge to make a choice.
Students will be able to recognize the need for a good or service.
Students will be able to identify the value of a good or service.
Students will be able to compare and contrast various services.
Students will be able to articulate the difference between a consumer and a producer.
Students will be able to analyze options to make a choice.
Outcomes at the completion of the program – 8th grade:
Students will be able to apply their financial knowledge to real world situations.
Students will be able to explain the purpose of investing money.
Students will be able to compare and contrast investment options.
Students will be able to develop a classroom investment.
Students will be able to summarize inflation and how it relates to investing.
Students will be able to construct a budget.
Students will be able to create long term financial plans and goals.
Students will be able to recognize that the United States is part of a world economy.
Financial Literacy Sections
The program is divided into six sections which represent different broad topics starting with Everyday Choices and culminating in The World Market. Each section includes main topics, subtopics, vocabulary and assessments.
Climb to Safety is not designed as a one size fits all learning process. The beginning of each year will include a pre-assessment to gauge student’s prior knowledge. Lessons will then be tailored to the needs of the classroom.
In addition to the Financial Literacy Sections, each year the students will play a larger role in the classroom 529 College account. This will provide an additional level of economic understanding.
The Financial Literacy Sections listed provide the basis for instruction. Section content as well as timing will be personalized for each group of students.
- Section 1: Everyday Choices
-Goods and Services (Satisfying Wants and Needs) (Tangible) (Jobs) (Products versus Actions)
-Consumers and Producers (Using Goods and Services) (Providing) (Skills)
-Choice (Do I need this? or Do I want this?) (Gain versus Loss) (Scarcity)
- Section 2: Resources
-Natural Resources (Gifts of Nature) (Scarcity) (Raw Materials)
-Human Resources (People) (Labor) (Quality and Effort)
-Capital Resources (Special Goods) (School Building)
- Section 3: Monetary Responsibility
-Cost (Price) (Opportunity Cost) (Decision Making)
-Benefit (Gain) (Trade-Offs) (Effort)
-Exchange (Trading with Money) (Bartering) (Marketplace)
- Section 4: Citizen Opportunities
-Government (Taxes) (Economic Systems) (Public Goods) (Effects of using resources)
- Income (Cost) (Profit) (Specialization)
- Section 5: Money Management
-Entrepreneurship (Creating, Implementing) (Independent Ideas) (Supply, Demand)
-Long Term Planning (Goal Oriented) (Specific, Measureable, Attainable, Results-oriented, Time-driven)
- Section 6: World Market
-Investing (Companies) (Stocks) (Bonds) (Interest) (Dividends) (Compounding) (Timing)
-Inflation (Consumer Price Index) (Spending)
“Dollars and Cents should get the same attention as ‘please’ and ‘thank you’ at home.” Ernie Almonte, CPA, vice chair of the American Institute of Certified Public Accountants (AICPA) National CPA Financial Literacy Commission
According to Ken Tysiac’s article, Many Parents failing to educate children about money, “Just 13% of parents surveyed talk daily with their children about financial matters.” As an Educator and Investment Advisor, I believe that education starts in the home, and for optimal learning, should reinforce what is taught at school. I propose we also educate the parents through seminars.
An initial assessment can identify topics that would be most beneficial to each specific group of parents. Here is a sample of potential topics:
1. How do I set up and follow a budget?
2. What can I do to increase my savings?
3. What is a College 529 Saving Account?
4. What is a Roth IRA and a Traditional IRA?
5. How does my 401k work?
6. How do I know what funds to invest in with my 401k at work?