Homeschool Highschool Podcast Ep 143: Financial Literacy for Teens
How do you go about preparing homeschool high schoolers for managing money throughout their lives? Financial Literacy is a life skills math credit that many teens will use WAY more often than their high school math. Join Sabrina, Vicki, Kym and Eagle, the Seeing Eye puppy for a fun discussion of Financial Literacy curriculum.
Back in 2008, when the economy crashed, some economists believed that poor personal financial management (including too much mortgage debt) was part of the problem. In reaction to this, many state education departments began to require that high school transcripts include Consumer Math so that teen could have at least basic money management skills.
But Consumer Math might not be enough for many teens. If they want real-life preparation for not just money, but for making financial decisions, for planning and for other financial considerations, teens need more. They need Financial Literacy.
So, what is the difference between Consumer Math and Financial Literacy?
- Consumer Math covers the basics such as creating a budget and balancing a checkbook.
Financial Literacy covers Consumer Math PLUS planning for the future, finding the right insurances, banking, credit and more.
There are several good financial training courses. We, of course, like 7Sisters’ Financial Literacy because it covers all the bases of Financial Literacy courses but also trains students on how to find information (and where to avoid information). It is an interactive, internet-based curriculum that teens love…and actually use. Homeschool high schoolers finish the course with a life financial plan.
As soon as 7Sisters’ published our Financial Literacy course, our teens began using it and teaching it in our local homeschool group classes. The curriculum was vetted by the teens, who gave valuable feedback on how they learn best. Those teens are now adults and still using the skills they learned from their Financial Literacy course.
Your teens will benefit from taking Financial Literacy, but don’t take our word for it. Check out these posts from 7Sister Sara’s sons Luke and Joel. You’ll also enjoy this Dollars and Cents Podcast episode on How to Teach Kids about Managing Money.