Unless your students have an eye for math, they may find a class in personal finance about as enjoyable as getting a root canal. Still, teaching the subject is not only important to personal financial growth, it can and does affect every avenue of their lives.
How can a student best save at the supermarket? How do they best manage their finances? What of the stock market; should they invest? What of their monthly expenses? Are they living beyond their means already?
To teach the subject of personal finance is one thing; to have your students incorporate the wisdom and “experience” the topic is quite another. What you do and say will make the difference between learning and actually going out and doing what is learned.
One of the best ways to get students excited about personal finance is to give them an experience. Have them invest in the stock market on paper and follow their wins and losses. Have them fill out a personal finance chart and show them if they’re living within their means. Learn about car refinance by choosing a car and working through the refinancing steps.
Personal examples are always helpful in teaching a student. They’ll remember a story over facts and figures, and in the story you can show what the individual did right or wrong.
Hands-on work is excellent, but don’t let it overshadow discussion in the classroom where students can learn from their peers. A new skill is often easier to take if the option is given from a fellow student.
