Schools often don’t have the time or resources to cover personal finance, but any adult knows that it’s a big part of life. If you’re playing the role of teacher, and you want to work personal finance into your curriculum, WECU’s got your back!
Dinner on a Budget
Have your teen help out with the grocery shopping and cooking. Give them a set amount of money and explain that they are to plan and make dinner for the family without going over their budget. Make sure to remind them that tax will be added at the register.
Cost of a Car
A car costs a lot more than the sticker price might suggest. If your teen is dreaming of buying a car soon, have them research and calculate the true cost of that vehicle. Be sure they include interest on their car loan, insurance premiums, gas, and ongoing maintenance.
If your teen already has a car, they can calculate its true cost retroactively.
Track a Stock
Does your teen have a brand they love? Are they a Starbucks addict, a videogame lover, or a Snapchat fanatic? Have them look up the recent stock activity for a company they interact with personally. What’s been the behavior in the last five days? Last three months? Last year? Explain to them that a stock represents a small ownership of the company and that stocks move as people decide to buy and sell their ownership. Why do they think the stock of their favorite company has moved in the way it has? What would have affected people wanting to own part of the company?
Ask them how they think different stocks are behaving right now and then have them look up a few to see if their predictions were correct. Why do they think different stocks are responding differently? What qualities of a company might make it less volatile, or reactionary? What qualities might make it more so? Why? Encourage them to check in every couple of days to see if the stocks at those companies are still doing what they predicted.
For more fun financial education content, check out EVERFI’s free Digital Lessons!