Four Simple Ways Teachers Can Incorporate Finance In The Classroom

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Even though most schools do not require a personal finance class to graduate, teachers can still incorporate this critical life skill into their lessons.

One way to do this is to incorporate specific career opportunities in the weekly lessons. In science class, discuss the career path and role of a biologist or a forensic specialist. This allows students to make the critical link to the school curriculum that helps to forge a path to a future career. Students could interview professionals in the field to learn more about the day-to-day responsibilities, the benefits of their job and how they got into the field.

If students save $100 at the age of 16, at a 10% interest rate, in five years they will have $161. That’s $61 in pure earnings. However, if they wait for 20 years, their total investment will grow to $673. That’s more than six times their original investment. Teens who start saving early will have a huge advantage as an adult, and those savings can mean a downpayment on a home, ability to travel or start their own business.

You want to buy a new car in five years. You can invest $100/month and make 10% interest. How much can you spend in five years?budgeting can also take the form of problem solving and algebra.

 

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