This post explains the importance of teaching financial literacy. In addition, suggestions for classroom instruction are presented.
Why Financial Literacy is Important
Money is not evil.
Let’s begin by debunking the myth that money is evil. According to the Bible, the love of money is forbidden (For the love of money is a root of all kinds of evil – I Timothy 6:10). Furthermore, some of the Biblical leaders were very rich. So, having money is okay- a problem arises when money has you.
People who have money are not evil.
Why do we equate wealth and business with being wicked? Once upon a time, my thinking was skewed until I discovered that trying to save the world required finances. As a young college student, I viewed the business students in a less than favorable manner. How silly – more like stupid! Even, kingdom work has a price. When the pastor stands in the pulpit and articulates the vision that God gives him (like building a center for youth or seniors) it takes money. What’s more, numerous wealthy individuals support worthy causes. Just look around.
Money is a tool.
Simply put, money is a tool that youth can use to benefit themselves and others. How can you help someone if you’re broke, busted, and disgusted? You can’t! If youth develop a better understanding of this tool, they’ll wield it wisely like a skilled carpenter who hits the nail on the head.
How to Teach Financial Literacy
If you’re nervous about teaching financial literacy, don’t fret. This section recommends three ways to help you save time, money, and give youth a strong foundation.
Use available resources.
Credible experts have already assembled materials for you. One published by the Federal Reserve Bank is an informative pamphlet on understanding money. At the same time, the federal government has numerous sources online that can be downloaded and they’re free.
Recruit speakers.
Invite people who work in finance to speak to your students or youth group. Start with the banks. Many have financial literacy programs for teens and adults. Get creative! Recruit speakers from investment firms. Ask business owners to address your class. People are more than willing to share what they know.
Play games.
I highly recommend Cash flow by The Rich Dad Company. This board game is both fun and educational. Consider asking students to read Rich Dad Poor Dad for Teens first. It introduces key concepts. Another option is to browse Amazon. Visit https://www.richdad.com/
Write to Stephanie Harbin at sdharbin@yahoo.com.
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