Financial literacy sounds like an intimidating concept; if you ask anyone, chances are that you’ll receive a different answer each time. It’s no wonder that most adults are intimidated by the term, let alone teens or kids! However, here at CASW, our WLG participants had the valuable opportunity to explore just what financial literacy is all about, and even had the chance to apply what they learned by teaching it to younger peers!!!
Building Blocks of Financial Literacy: An Event
Our WLG Financial Literacy Club interns held a workshop during our COMPASS program at PS/MS 37. The idea was to introduce younger students to some basic concepts and familiarize them with ways to build financial literacy skills early in life. This event is actually a huge accomplishment for our WLG participants, who were in charge of creating a lesson plan and instructing the workshop themselves – they managed to make the experience both fun and meaningful!
The Importance of Building Financial Literacy Skills for Kids and Teens
If we define financial literacy as the crucial ability to understand and organize one’s personal finances – then it follows that everyone should aim to be financially literate. At a young age, this can look like understanding the importance of long-term planning (I.E. “I want to save for a new Playstation game, so I won’t spend all my allowance on ice cream”), or even taking modest steps toward building wealth (I.E.“I want to open a bank account before starting my summer job”). The fact of the matter is that building an early basis in financial literacy can help young people achieve greater autonomy and confidence when it comes to their money, and eventually develops into wise decisions as adults.
That’s why we’re proud to see the future generation already preparing those who will follow after them.
