Financial Literacy for School Students

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About Course

The course is free, with no registration or subscription required. We’ll be happy if you do the activities, worksheets and projects and contact us for any suggestions or questions.

Course Goal: Equip students with basic financial knowledge and skills to make informed decisions about budgeting, saving, investing, and responsible borrowing.

This financial literacy course is for school students and will be adapted to students according to their levels. The parents and teachers will also benefit from the course. The course encourages participant with activity and project ideas.

The idea is to understand how money works. For example concepts of Pay Yourself First, Compounding, Cost Averaging, Time Value of Money, Inflation.

Then students can use spreadsheets to track savings and for planning goals (education fund planner, for example)

Then the basics of debt and equity and the investment options available to get started on their investing journey.

Flexible Syllabus:

Module 1: Earning and Spending 

  • Lesson 1: Understanding Income: Explore different sources of income (salary, wages, allowance, investments).
  • Activity: Track income and expenses for a week through a spending spreadsheets. Calculate net income.
  • Lesson 2: Budgeting Basics: Introduce the concept of budgeting and its importance for managing expenses.
  • Project: Develop a simple budget based on income and expenses, allocating categories for essential and discretionary spending.
  • Lesson 3: Responsible Spending: Discuss smart shopping strategies, avoiding impulse purchases, and identifying needs vs. wants.
  • Activity: Role-play scenarios like budgeting for a school event or comparing prices for electronics.

Module 2: Saving and Investing 

  • Lesson 4: The Power of Saving: Explain the importance of saving for short- and long-term goals.
  • Activity: Research different savings options like piggy banks, bank accounts, and youth savings accounts.
  • Lesson 5: Introduction to Investing: Introduce basic investment concepts like stocks, bonds, and mutual funds.
  • Project: Simulate investing through games or online platforms to understand risk and return.
  • Lesson 6: Responsible Debt: Discuss different types of debt (credit cards, loans) and the importance of responsible borrowing.
  • Activity: Calculate credit card interest rates and compare loan options for hypothetical scenarios.

Module 3: Financial Services and Products 

  • Lesson 7: Understanding Banking: Explain the role of banks, checking and savings accounts, and basic banking processes.
  • Activity: Visit a bank branch (virtually or in person) and practice opening a savings account.
  • Lesson 8: Credit and Credit Scores: Define credit scores and their influence on financial decisions.
  • Project: Research factors that impact credit scores and create a plan for building good credit.
  • Lesson 9: Consumer Protection: Discuss scams, frauds, and resources for protecting oneself financially.
  • Activity: Identify red flags in fake advertisements or online scams and research available consumer protection agencies.

Module 4: Financial Planning for the Future 

  • Lesson 10: Educational Costs: Explore different options for funding education, including scholarships, grants, and student loans.
  • Project: Compare the costs of different colleges and research financial aid options.
  • Lesson 11: Career Planning: Discuss the relationship between education, career choices, and earning potential.
  • Activity: Research potential careers and compare salaries, benefits, and required skills.
  • Lesson 12: Setting Financial Goals: Help students define their financial goals for different life stages.
  • Project: Create a long-term financial plan outlining income, expenses, saving goals, and investment strategies.

Assessment:

  • Continuous assessment through participation, activities, projects, and short quizzes.
  • Final project: Present a financial plan for a specific life goal (e.g., college education, travel).
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What Will You Learn?

  • You will be equipped with basic financial knowledge.
  • Basic skills to make informed decisions about budgeting, saving, investing, and responsible borrowing.

Course Content

How does money work?
To start understanding money, we need to understand how money works. There are concepts like Pay Yourself First, Magic of Compounding, Time Value of Money and Cost Averaging that would help you understand money.

Recommended Reading
List of blogs and books for reading

The Cost of Free Advice
Case studieson the cost of advice.

The Psychology of Money
Read how your mind works when it comes to matters about money

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