Financial Literacy: Why it Matters?
Financial literacy skills for the 21st Century is a concept that introduces students to the importance of learning how to manage, spend, and grow money. Many schools are working to help students gain exposure to these concepts because learning how to have healthy relationships starts early in childhood and can be integrated across subject matter like Mathematics, ELA, and STEAM. Financial literacy strives to ensure that students are educated in the best way to manage finances as they move throughout their K-12th grade academic careers to college and beyond. This is a way to help secure futures amongst diverse learners and empower global communities. This Spring 2022, EDIA plans to facilitate workshops and activities which can help students to become introduced to the concept of financial literacy. Also, students will be given access to EVERFI accounts in grades 4-5 in preparation of our Math Business Expo which will be held in late Spring.
Simple Components of Financial Literacy
"Learning how to be smart with money begins now as kids–saving up allowances, controlling impulsive buys, finding ways to make money through chores, baking goods for your local masjid, or babysitting."
Developing Heathy Habits for Tomorrow
Frequently asked questions
What are the K-12 National Standards for Financial Literacy?
The Council for Economic Education (CEE) and Jump$tart (a coalition for personal financial literacy) has identified national standards for financial literacy. They align with common core state standards in subject areas of Mathematics and the English Language Arts. The standards identify knowledge, skills, and decision-making abilities that all young people, without regard to race, gender and family income, should acquire during their K-12 education as a framework for their lives as smart consumers. They incorporate evolution in areas such as behavioral finance, higher education financial planning, identity theft, mobile payments and cryptocurrency.
What are the six topic areas that standards are organized around?
1) Earning income
5) Managing credit
6) Managing risk
What ages are students introduced to financial literacy topics?
This Spring students as young as Kindergarten will begin being exposed to concepts of financial literacy. We will have an assembly to introduce the topic to EDIA students which will be hosted by the founder of the Modest Invest. Then, in late Spring we will facilitate a Math Business Expo Virtual Fair led by 4th and 5th graders.
What is EVERFI and why will 4th and 5th graders receive accounts?
EVERFI is a curriculum provider that we will be using to introduce 4th and 5th graders to the concepts of financial literacy this Spring semester in preparation for the Math Business Expo Virtual fair. More Information soon to come!