From Piggy Banks to Prosperity: Elementary Schools Financial Literacy

FiWe

Creating Equal Opportunities

for Financial Wellness

From Piggy Banks to Prosperity:

Financial Wisdom

in Elementary School

In an era where financial tools like debit cards become accessible as early as age 6, credit cards can be obtained before reaching 18, and investing apps are available for teenagers, the evolution of the personal finance landscape challenges us to continuously educate young learners. At the heart of this shift lies the conviction that introducing financial knowledge at a young age can shape a generation of financially savvy individuals. Elementary school is the opportune time for this initiation, and hands-on resources can transform the learning journey into an engaging and effective experience.

The Changing

Landscape of Financial Tools

Financial tools like debit and credit cards are becoming increasingly available to children at an early age. Parents, recognizing the importance of adapting to the times, are providing their kids with these tools. While this can be seen as a positive step towards familiarizing children with financial instruments, it also highlights the urgency of imparting financial literacy skills to the younger generation.

The

Disappearance of Tangibility

In times gone by, a lighter pocket served as a tangible reminder to slow spending. The physical act of counting coins or bills provided a visual and tactile understanding of one's financial situation. Money, once a tangible entity, now exists in the form of bits and bytes, making it harder for individuals, especially children, to grasp the concept of financial boundaries.

Schools as

the Ideal Setting

Schools are not just places for academic learning; they are holistic environments that shape the character and values of students. Incorporating financial literacy into the curriculum ensures that all children, regardless of their background, have equal access to essential life skills. The classroom setting allows for interactive learning experiences, making financial education both enjoyable and memorable.

Learning financial literacy together enables students to recognize and challenge unreasonable behavior like deliberate display of expensive belongings, which which, in turn, contributes to preventing harmful financial attitudes. They can foster an environment where material possessions do not define self-worth and empathy and financial responsibility are valued.

What

Parents are saying

A survey of 2,000 parents with children aged 5-17 conducted by BOK Financial revealed that 82% believe financial literacy and money management skills should be taught in schools and at home. The study found that 85% of parents agree that the value of a dollar should be taught before their children become teenagers to promote financial competence in adulthood. Instilling financial literacy at an early age goes beyond teaching concepts; it's about fostering habits that will benefit students throughout their lives.

By making financial education a part of their formative years, we can equip children with the tools they need to navigate the complexities of the financial world with confidence and responsibility.

82%

82 advocate for teaching money management skills in schools

Empowering

Future Generations

Elementary school is a time of rapid cognitive development, where children are eager to absorb new information and skills. By introducing financial literacy at this stage, we can empower students to make informed decisions about money from a young age. Understanding the basics of budgeting, saving, and responsible spending sets the foundation for a lifetime of financial well-being.

Nurturing Seeds for a Brighter Future

Financial literacy is a compass that guides individuals towards a secure and prosperous future. By introducing these concepts in elementary school, FiWe lay’s the groundwork for a generation of financially savvy individuals who can confidently navigate the challenges and opportunities that lie ahead. Utilizing tactile resources, FiWe recognizes the importance of making money tangible, dispelling the notion that it magically appears out of thin air. By grounding lessons in the fundamentals of personal finance, FiWe also establishes the foundation for parents to engage in meaningful money conversations with children, fostering responsible future adults.