*Anyone who’s ever struggled with a difficult class in high school has asked the question, “Will I ever actually use this stuff after I graduate* ?”
*After graduation, students probably won’t dissect a frog or need to remember what E stands for in E=mc2 on a daily basis* . But one thing’s for sure: *They will need to know how to handle money wisely*—and the sooner the better!
*That’s why OUR HASTI SCHOOL has plan to teach financial literacy in school*.
Though It is widely believed that *it is the parents’ responsibility to teach the value of money to children*. That schools should only stick to academics.
But Nothing could be farther from the truth. Schools can do & contribute to teach the value of money to children.
*Parents try to satisfy all desires of children and the school becomes a place of financial competition instead of financial education*. However, that need not be the case.
Let’s change the course and understand what and how HASTI SCHOOL IS going to teach easily and effectively the ways to save and spend money wisely.
1. *To Use already existing subjects*:
Since pre-school, children learn addition and subtraction in Mathematics, yet they are not introduced to the concept of money. We believe that Teachers should give them the elementary knowledge of how currency is grouped into notes and coins, and how they vary in terms of valuation.
We plan to refer to the subject of Economics and work out a simple way of teaching how resources are finite and priced in terms of money. When it comes to History, we can also teach how barter system was used to exchange goods and services.
These subjects are already there but they are not being used intelligently.
2. *To Involve children in playful activities*:
Board games such as ‘Monopoly’, ‘The Game of Life’, ‘Time and Money’, etc we intend to involve children in a crash course on saving money. We have plans to ask students to submit project work on money and related concepts to understand how money works while doing the project.
*Explaining the need to save a limited resource such as money, we will urge students to keep piggy banks*. The colourful and positive approach of a piggy bank gives the simplest and most effective lesson of banking. It drives at least very small children to save more to get a lot of money in return, sooner.at primary ,middle and high school *STUDENTS BANK* ‘ would be very effective .
3. *To Design innovative project work*:
We intend to convert chits of paper into fake notes and can arrange for a transaction role-played among students. *The aptitude of each student is tested and once the class understands the concept well, the teacher can modify the role play into an exchange between an earning person and a bank.*
We intend to take finance education to the next level by having a bank-like facility inside our premises. *These facilities have infrastructure similar to real banks and give hands-on training about banking methods to interested children*.
4. *To Teach financial literacy systematically*:
Financial literacy to be introduced early.we can come up with simple hypotheses to teach children what credit and collateral means. We intend to arrange an exciting role play among multiple students in which one becomes the customer, who has to choose among sellers of different products.
Children having limited dummy currencies, and thus understand the value of money when they observe that they can’t buy all they want to and that they have got to choose.*(MARKET DAY)*
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THROUGH Financial literacy classes we intend to teach students the basics of money management: budgeting, saving, debt, investing, giving and more. That knowledge lays a foundation for students to build strong money habits early on and avoid many of the mistakes that lead to lifelong money struggles.
*HOWEVER *PARENTS CAN TEACH THEIR WARDS* THE FINANCIAL LITERECY BY FOLLOWING*
How to Teach Pre-Schoolers and Kindergartners About Money
1. *Use a clear jar to save*.
The piggy bank is a great idea, but it doesn’t give kids a visual. When you use a clear jar, they see the money growing. Yesterday
2. Set an example.
*A study by the University of Cambridge found that money habits in children are formed by the time they’re 7 years old*.
3. Show them that stuff costs money.
You’ve got to do more than just say, “That pack of toy cars costs Rs 200, son.” Help them grab a few notes out of their jar, take it with them to the store, and physically hand the money to the cashier. This simple action will have more impact than a five-minute lecture.
*How to Teach Elementary Students and Middle Schoolers About Money*
4. *Show opportunity cost*.
That’s just another way of saying, “If you buy this video game, then you won’t have the money to buy that pair of shoes.” At this age, your kids should be able to weigh decisions and understand the possible outcomes.
5. *Give commissions, not allowances*.
Don’t just give your kids money for breathing. Pay them commissions based on chores they do around the house like taking out the trash, cleaning their room,etc Smart Money Smart Kids. This concept helps your kids understand that *money is earned*—it’s *not just given to them*.
6. *Avoid impulse buys*.
“Mom, I just found this cute dress. It’s perfect and I love it! Can we buy it please?” Does this sound familiar? This age group really knows how to capitalize on the impulse buy—especially when it uses someone else’s money.
7. *Stress the importance of giving*.
Once they start making a little money, be sure you teach them about giving. They can pick a charity or even someone they know who needs a little help. Eventually, they’ll see how giving doesn’t just affect the people they give to, but the giver as well.
*How to Teach Teenagers About Money*
8. *Teach them contentment*.
Contentment starts in the heart. Let your teen know that their cycle,car etc.(although not the newest is still running well enough to get them from point A to point B.
9. *Give them the responsibility of a bank account.*
By the time your kid’s a teenager, you should be able to set them up with a simple bank account if you’ve been doing some of the above along the way. This takes money management to the next level,
10. *Get them saving for college.
There’s no time like the present to have your teen start saving for college.
11. *Teach them to steer clear of student loans*.
Before your teen ever applies to college, you need to sit down and have the talk—the “how are we going to pay for college” talk. Let your teen know that student loans aren’t an option to fund their education. Talk through all the alternatives out there, like going to community college, going to an in-state university and applying for scholarships now.
12. *Teach them the danger of credit cards*.
As soon as your kid turns 18, they’ll get hounded by credit card offers—especially once they’re in college. If you haven’t taught them why debt is a bad idea, they’ll become yet another credit card victim.
13. *Get them on a simple budget*.
Since your teen is glued to their mobile device anyway, get them active on our simple budgeting app, Now is the time to get your teen in the habit of budgeting their income
14. *Introduce them to the magic of compound interest*.
Compound interest is a magical thing! Introduce your teen to it at an early age, and they’ll get a head start on preparing for their future.
15. *Help them figure out how to make money*.
When you think about it, teenagers have plenty of free time summer break, winter break, spr. If your teen wants some money (and what teen doesn’t?), then help them find a job. Better yet, *help them become an entrepreneur* !
*With the collaboration and cooperation of parents Hasti School is sure to introduce* FINANCIAL LITERECY AT EARLIEST
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