One of the best changes that has come about during the COVID-19 changes to education has be an institution or re-institution of Financial Literacy courses to Ohio’s K-12 schools (most especially in 9-12 education). I have spent 3 years teaching a stand alone Financial Literacy/Personal Finance class, and not only did I enjoy teaching it, I think it had a great deal of value for our students. We had used a couple of different programs in those 3 years: EVERFI (computer based programs served us well) and Dave Ramsey’s Foundations in Personal Finance was very sound with many great resources. As this course returns to our situation or for anyone starting from scratch here’s a rough sketch of an effective outline or syllabus for your classes.
- Unit 1– Making Money (Job applications, Tax Forms, Resume, Budgeting etc.)
- Unit 2– Saving Money (savings accounts, Budgeting, and features)
- Unit 3– Credit (Understanding Credit, Credit Cards, Car Payments)
- Unit 4– Housing (Renting, Buying, Lease Information, Mortgage Rates)
- Unit 5– Insurance (Auto Insurance, Home Owners Insurance, Life Insurance)
- Unit 6– Investing Basics (Stocks, Mutual Funds, Real Estate, Crypto, etc.)
Since our Financial Literacy is only a semester (18 weeks) these are the topics to focus on. We also include, in a partnership with a local Vocational School, mock interviews where business professionals from the area come in and there is job interview preparation. This is helpful but that process limits our time for other topics.
Once we transitioned to the Ramsey program, that program and it’s pacing work very well, if you are fortunate enough to have that as a resource, use it. Like many other schools, funding is tight, and Financial Literacy is near the bottom of the list for new resources, so if you are stuck like I was when I started the list above may be helpful.
Good luck and you can always reach out for help, I love to talk about these things.
Jon Butchko 