Financial education Goals - 2024-2025 Resources for teachers and students alike

The 2024-25 school year is here, and both teachers and students and students alike are starting to think about the goals they want to achieve for the new school year. One topic that is becoming top of mind in today’s economy is money and finances.  

To help today’s students be ready for the real world, financial literacy is becoming a more integral part of a high school education. Several states are now requiring a personal finance course graduation requirement or its equivalent for graduation. 

This is great news for students because improved financial literacy will help them learn how to earn, manage, and invest money. This will critically impact students' ability to make smart choices in the future.  

Why is financial literacy important?  

It is estimated that only  22% of high school students receive any type of personal finance courses in high school, perhaps resulting in their inability to understand money decisions in adulthood. This lack of financial knowledge may be why Americans shockingly owe?$1.74 trillion?in student loan debt.? 

Here’s why you should add financial education to your child’s education. 

1. Helps them learn from their mistakes early  

To help students learn from common money management mistakes, schools can offer simulation exercises, games, and discussions which can be helpful, rather than real-life mistakes that can have long-term consequences. 

2. Helps them make smarter decisions in the future (big decisions)  

For young students to be able to make smarter decisions about their long-term futures, they must understand the consequences of how their financial actions today will have on their financial futures. Educating students about budgeting and their credit is extremely important and will have a lasting effect on their ability to better manage their finances in the future. 

3. Helps them develop healthy relationships with money early.  

A partnership between the parents and the school can help young people learn how to manage money as a skill that will last them a lifetime. Learning about it can be fun with the tools that are currently available to the schools. With help, students can be guided and counseled through this new skill that everyone needs.  

Are you an educator? 

At RVCU, we often hear that teachers want to discuss finances in the classroom but feel they are not equipped to teach the subject at the level necessary. Here’s where RVCU plays a critical role! We help educators bridge the gap by providing resources such as virtual classes, in-classroom sessions, online games, or workbooks to meet those education needs. 

This school year, you have enough to worry about in between homework, prepping for quizzes, and after-school events. Let RVCU help you and your scholar be prepared for their financial journey ahead.