A blog written with educators in mind
Tips for talking to your students about money
- Ask if their parents talk to them about money matters. Find out what money topics interest them. Don'tmake assumptions about what they know and don't know.
- Ask your students to tell you what their families spend money on and then follow up by asking if they were in charge of household spending, what would they spend their money on?
- Bring students into appropriate financial conversations. For example, if the class is planning an end-of-year party, guide them in learning how to set the budget. Involve the kids in deciding what activities are within the budget range. Figure out the cost for the party (zoo trip or watching a movie) and then determine the amount each student would need to provide. If the amount is too high, ask the students what they would like to cut from the party.
- Give small children money to count. Open mock, classroom bank accounts with children as they grow older. Allow them to make minor financial decisions for themselves in the classroom setting.
- Encourage kids to learn about what financial institutions can offer them. Show the website of a local bank, an investment firm or investment advisor. Break the students into groups and ask them to list services the different institutions offer. Talk through and explain the different services.
- Teach your students about setting financial goals related to saving and investing. Ask them to fill out a sheet with a goal and dollar amount. Then have them write out what they will cut back on, or stop doing, to meet their goals (e.g. "I will save $15 per month for my goal by not buying any new comic books.")
- Give your classroom a financial challenge. It may be saving money for a class goal such as a class pet or a charitable donation. Ask them to figure out how they can earn money for the goal. Options might include recycling cans or a bake sale. You might want to create a donation match program and ask the PTA to match a certain amount of the donations received.