Is Financial Literacy available in your schools?
Why don't we learn about investing in schools? Today, you can take wood-shop or auto as an elective but not take a class on investing; where did we go wrong? When we talk about literacy, we usually think of it by its fundamental definition as the ability to read and write and having knowledge and competence. But our definition in the 21st century incorporates all of the language, knowledge and competencies that students have in various subjects and skills. It also includes social, cultural, and financial literacy.A student who enjoys skills like building model cars or who is good at video games or fashion design, uses these skills with a language of their own. Another student might be a master in the language of music or photography. We all identify with literacy in different ways, as a citizen, consumer, a lifelong learner, a global citizen. Each task requires a set of skills needed to navigate that system, unique to that task.Educators must pay attention to how their students are interacting with literacy, such as what they are reading, what technologies they're using, what their hobbies are, and what they're encountering, on a daily basis that requires those special navigation tools. This will help them support and help them navigate their future.Young people don't always realize that their hobbies are actually skills and literacy; something they can bring to the table. If teachers and parents can get students to see their hobbies as skills and tools, their appreciation for literacy across multiple content areas can be improved. With the help of technology and incorporating financial literacy in schools from the beginning we, can help our students become financially literate. Yes, we know that individual and family's financial decision process is getting more vital with the increasing complexities of financial products and services and what studies suggest is that there are socioeconomically conditions that influence the financial knowledge, attitudes and behaviors, such as age, gender, work experience, income and education level.
Below are the Five Key Areas of Personal Finance- John H. Boner Community Center IHCDA:
Money and Income- Trade Offs in Careers, Education and More (how much time does your money buy?)
Money Management - Prioritizing before we spend, budgeting and forecast control
Spending and Debt (Credit is a basic financial tool)
Savings and Investments- Discipline is key, Saving is the first step, Understand financial markets
Risk Management- Mitigate risk through knowledge, insurance, caution, personal finance tools
The Foreign Language of Financial Literacy: Natalie Torres-Haddad- We have to practice financially literacy Daily!
https://youtu.be/ny5sciZoyHc