Everyone needs to know ways to manage money. In the past years, many states did not see the need for school learners to have financial literacy. However, as the world is evolving fast, most states are encouraging teachers to educate high schoolers on personal finance for their future financial health.
Economists say that financial literacy education is essential to high schoolers because soon they will be graduating from high school and stepping into adult roles with several responsibilities that need adult accountabilities. High school students in states like Utah are required to take a one-semester financial literacy course. The state legislation is also creating some rigid financial literacy requirements in the country.
“Whatever decisions the high schoolers make at an early stage is going to affect their financial wellness as adults. When they get themselves in financial difficulties at an early stage of their life, it is going to take them a long time to regain back their lives on track,” says Julie Felshaw, one financial literacy specialist and economist.
Financial literacy education is essential to high schoolers as we cannot say they are ready for graduation and meet the outside world without knowledge of finance. It is the 21st century, which means that students should have the century’s survival skills on finances.
One of the ways to help teachers to educate students on critical financial topics is technology. Teachers can use the following methods to educate high school students on personal finance:
Smartphone apps
Smartphones; one of the best technology tools to teach about personal finance and financial literacy to students. It would be best if you use a smartphone app like RedLaser to educate students on comparison shopping. This way, while learning, the students can scan a specific product’s information on its code bar and compare prices of the same product in nearby shopping stores or websites.
While teaching about financial literacy, the students may not understand its value, but it is crucial. They may even end up changing classes to avoid economic classes, but everyone needs this knowledge to handle money. No matter what career they will choose after graduating from high school, they have to deal with money—ranging from money spending, management to savings. Getting personal finance education is necessary.
Game-based learning
gaming site like Practical Money Skills helps students and consumers to learn personal finance essentials through educational resources and games. The other site is OnGuardOnline, a personal favorite page funded by the state government. OnGuardOnline is a site that offers games and educational resources to help in teaching high school students how to safely keep their personal information and ways to secure it online.
Budget simulations
Education and financial specialists agree that one of the crucial skills learners should have is how to create and manage a budget. The specialist encourages using a personal finance simulation tool like Budget Challenge to learn on checkbook management and budget maintenance, and other program skills.
Final thought
Financial literacy is essential to students and any person. You should be able to take accounts of how you spend your money from your earnings. Remember, a financial mistake made earlier on will affect the time you take to restructure your life.
