Curriculum Overview

Rationale:

The average high school graduate lacks basic skills in the management of personal financial affairs. Many are unable to balance a checkbook and most simply have no insight into the basic survival principles involved with earning, spending, saving and investing. Many young people fail at managing their first consumer credit experience, establish bad financial management habits, and stumble through their lives learning by trial and error.

• The number of 18 to 24-year-olds declaring bankruptcy has increased 96% in 10 years.


• In 2002, more people filed for bankruptcy than graduated from college.


• People in the 18 to 24 age bracket spend nearly 30% of their monthly income just on debt repayment - double the percentage spent in 1992 (10% of net income is a recommended amount for debt obligation.


• 45% of college students are in credit card debt, the average credit card debt being more than $3,000.

Financial literacy lasts a lifetime. Increased financial education empowers families to maximize their resources, creating personal well-being and security. Personal financial competency is a critical element in thriving economies and cultures.

"The importance of basic financial skills underscores the need to begin the learning process as early as possible. Indeed, improving basic financial education at the elementary and secondary school level will provide a foundation of financial literacy that can help prevent younger people from making poor decisions that can take years to overcome."
Remarks by Chairman Alan Greenspan At the JumpStart Coalition’s Annual Meeting, Washington, D.C., April 3, 2003


Purpose and Mission:

Our goal is to introduce:

1. An understanding of money and how they can use it powerfully in their lives to create a life of financial freedom and stability.

2. A new awareness of their own responsibility in creating their financial condition.

3. The habit of using some of their money to make more money by systematically saving and investing part of their income.

4. Leadership and initiative in working as a group towards a common goal.


Methodology:

At The Money Academy, we discovered that the inquiry into how money works really takes shape at a young age. They form the foundational understandings of money that will shape their financial futures.

Through our experience working with kids, we have developed a unique method of introducing financial concepts in a “kid-friendly” way. Kids gain an empowering understanding of basic money principles while playing games and engaging in projects.

These innovative programs are delivered in an inquiry-based and participatory style that engages participants in a real dialogue about the value of money and their relationship to it.

The curriculum, program design, and our teacher trainings all support the idea teacher as facilitator Authentic learning is a key component. The business project is designed to have the students making real (not manufactured) choices and handling real problems as they run a real business. Vocabulary and concepts are introduced as these experiences arise. The result is a tangible experience that students will remember and build on.


Content:

In the first half of the curriculum students play games and explore how money works and how to use it to build a future.

In the second half of the curriculum, students start and run their own successful business, building strength in the areas of teamwork, leadership, and accountability. This program forwards many TEKS learning objectives in three key areas:

• Social Studies - including citizenship, social studies skills, and economics.


• Math – dealing with time and money, adding and subtracting large numbers, and understanding percentages.


• Language Skills – including oral language development (especially business language and presentation skills) and research skills.

Impact:

Mastering an understanding of how money works equips young people with confidence and responsibility, creating a future of financial stability and independence. We find that many of our “graduates” go on to start saving to invest, spending less money, and making wise consumer decisions. Some even start their own businesses. Our parents tell us that these are some of the best learning experiences their kids have had.


Come observe our curriculum in action.

Bring The Money Academy curriculum to your school.


The Money Academy financial literacy curriculum has been approved by the Texas Education Agency to fulfill the newly passed financial literacy law, HB 492.