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Economics

Never Too Young: Teaching Financial Literacy to Elementary Students

By the time children enter kindergarten, they’ve already learned a lot about the financial world. They’ve watched adults exchange money for things they want; they’ve made choices such as which snack to eat or which game to play; and, they’ve experienced when there’s a lot or a little of something. These are among the basic tenets of financial literacy that the 12 resources below build on to help prepare students for the financial opportunities and challenges they will face in life.
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  • 12 Collection Items
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Never Too Young: Teaching Financial Literacy to Elementary Students
  • Council for Economic Education says:
    Angela L. Duckworth talks about Will Power: Grit, Self-control, and Achievement.
  • Council for Economic Education says:
    Get class parents involved! This parent guide that can be used with most financial literacy programs takes parents through the concepts their children are learning. With various activities such as mazes and counting money exercises, parents can reinforce financial literacy and share in their children’s learning experience.
  • Council for Economic Education says:
    Can young children learn to save rather than spend? Psychologist Walter Mischel, originator of the marshmallow test proving that children as young as four years old can delay gratification, would say yes. Mischel is inspiring as he talks about brain development and how we can teach children strategies for delaying gratification that will make their lives better.
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    foundation

    State Financial Education Mandates: It’s All in the Implementation

    30 minute read
    Council for Economic Education says:
    The evidence is in: financial literacy makes for better financial decision-making. These authors found that young adults (18-22) educated in states requiring financial literacy classes have higher credit scores and lower delinquency rates than young adults in states with no financial literacy requirements. In this article, they discuss the factors involved.
  • Council for Economic Education says:
    Award-winning 5th-grade teacher, Shanan Reigle, shows how she teaches scarcity in this instructional video. Watch as students work to grasp this financial literacy concept through creating products with play dough and discussion. Then see how they bridge the gap between manipulatives and the Internet by tweeting about their new understanding.
  • Council for Economic Education says:
    Have fun teaching new vocabulary in financial literacy by singing songs with your students. “Shop! Goes the Consumer,” “Oh Scarcity,” and “I’ve Got Money” are only a few of the song lyrics provided to sing to popular tunes such as “Bingo” and “This Old Man.” This activity can even inspire students to write songs of their own.
  • Council for Economic Education says:
    Join thousands of K-5 teachers successfully teaching concepts such as the cost of choosing between “this and that” and the difference between goods and services to young learners. Students are engaged through age-appropriate stories and interactive online activities. In the lively updated fable, The Grasshopper and the Ant, they learn how it’s better to save than squander. These lessons are aligned to national economics standards.
  • Council for Economic Education says:
    This delightful program for young learners features the Sesame Street characters children know and love. Students begin with learning about choices, then move on to value, spending, sharing, and saving with videos and handouts including job stickers and class currency.
  • Council for Economic Education says:
    Teach students in Grades 4 and 5 about money, earnings, and banking. Detailed lesson plans are tied to national standards in economics, math, and financial literacy. This program can be taught using the videos of space aliens Zing and Zoey as they travel to earth and discover how earthlings use money, earn, and save.
  • Council for Economic Education says:
    What is a good? “Something you hold in your hand.” What is scarcity? “Not enough chocolate bars.” These are the kinds of answers children give to show they are becoming financially literate. Download the manual for detailed lesson plans and materials. Watch the pilot program video to see the enormous amount of learning going on. In the capstone activity, students become entrepreneurs and market their products to family and friends.
  • Council for Economic Education says:
    In this unit, students build a class economy replete with specific jobs, salaries, and currency. As class citizens, they must manage their money, using credits, debits, and checks. The Lesson One video, Introducing the Economy, reviews all the aspects of setting this unit up from how to decide on what to pay workers to how to turn checks into cash (class money) so students can buy things at the in-house store.
  • Council for Economic Education says:
    Kiddynomics introduces young children to economic thinking. With five lessons based on popular storybooks--Betty Bunny Wants Everything, Dr. Seuss’ Amazing ABC Book, An Orange in January, Just Saving My Money, and You Can’t Buy a Dinosaur with a Dime--student engagement is high. Lessons include songs, art, and other interactive activities aligned to kindergarten readiness skills.
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