Saturday, October 19, 2013

What I use to teach my own children financial literacy

I'm often asked what resource(s) I use to teach my own children financial literacy skills. It's a fair question, considering I share a plethora of resources I personally believe could be valuable.

I'm a big believer in student choice and game based learning. Therefore, I expose my own children to multiple resources, I make sure I always include a game based learning option, and allow them to select their favorite resource(s). To prevent the summer "brain drain", I set aside educational time each day with my own children. Part of this time is spent on entrepreneurship and integrating financial literacy skills.

My boys are in the 1st grade and 5th grade. Their favorite financial literacy resource is the Secret Millionaires Club. In their own words, here is why they love it....

Bryce (pictured above), who is in the 1st grade,  likes the "Cartoons" because "they are funny and fun to watch." There are 26 total Webisodes, all of which would make great video hooks for a classroom project.

Christian (pictured above), who is in the 5th grade, likes the "Math Game" because "It's fun!". He also helped his younger brother play the game. The Math Game that Christian is eluding to is Number Blaster.

Coming this fall...

The Grow Your Own Business Challenge is just beginning. Kids 7 through 14 will be challenged to come up with a new business idea. Entrants will earn a chance to win a trip to Omaha to meet Warren Buffett at a special finalist celebration event--and they'll also earn a chance to win $5,000! As you can see, it is breathe of fresh air for educators who seem to be facing one standardized test after another.

The program even helps by providing free teaching resources. This is a great way to engage elementary students in an entrepreneurial activity.