When someone says you need to be literate, what does that mean? Well, when I think of being literate I think of my ability to read and write. But more than that, and arguably most important, is being able to understand what I am reading and writing. Without understanding is there really any meaning to anything written or read? Not really.
With this in mind, what does it mean to be financially literate? To me being financially literate is ones ability to understand the language of the economy. Economy is anything to do with money and the way the world depends on it. So why is it only now that society is deciding it to be an important topic of discussion in schools? When I was in elementary and high school, I don't believe I got any sort of financial education. My parents still do my taxes, I have no idea what life insurance is, or interest on bank accounts, or a house mortgage and how to pay it off. In fact, the thought of having to one day do those things on my own is quite frightening!
Why, then, is it that these things were never taught to me in school? Everyone, at some point or another, will have to deal with any number of these things at the same time, so why is it that its important to teach today? In discussing this with my colleagues in lecture today, we thought that it was because the economy and society now, places a tremendous amount of importance on money, and being able to properly handle it. Kids today as young as 5 years old have their own debit cards, I didn't get one until I was in third grade, and even then I still had no idea what I had in my hands!
So, since I am financially illiterate, now what? As a future educator and with the increasingly important need for teachers to be able to teach students about financial literacy, what do I do to prepare myself? Well, the internet of course! There is so much on the internet that I can use to help make myself financially literate, from YouTube videos on how to calculate interest, to WikiHow's on how to pay off a mortgage, theres nothing I wouldn't be able to teach myself online. However, if the internet isn't the way you want to go, you could always seek out someone who knows what they're talking about! You could go to your bank and sit down with a financial adviser and pick their brain about the ins and outs of the financial world, or ask a colleague to help you out! Can you say professional development?
Although the thought of teaching the unknown is scary to some (like me), there is a limitless supply of information at my fingertips!
Miss Helmers,
ReplyDeleteGreat blog topic! I think there is much importance in students creating meaning to their learning. I enjoyed reading your blog because you captured my attention with the questions at the beginning of the paragraphs and then followed by answering them. I think it is important to bring up the topic of financial literacy as it is looked passed a lot within the education system. I believe that being financially literate is an extremely important skill that students should have within this 21st century. Financial literacy could help develop life skills that students will need for the future. It was great to see that you added your personal opinion. For the future, maybe adding a visual or even a link to tips would be helpful. How could you implement financial literacy within an elementary school classroom?