HBRMS Welcomes a New 8th grade Exploratory Course
Personal Financial Literacy
A survey of 15-year-olds in the United States found that 18 percent of respondents did not learn fundamental financial skills that are often applied in everyday situations, such as building a simple budget, comparison shopping, and understanding an invoice. “Organization for Economic Co‑operation and Development, 2014”
Personal Financial Literacy exploratory covers areas of finance and money. Students begin by identifying the psychological factors that influence good money management, as well as poor financial decisions. The information helps them identify the motivators that influence them personally with regards to their spending and savings habits. Additionally, the students learn about banking, savings, the importance of building and maintaining good credit, as well as how to repair poor credit. Throughout the course the students also participate in a fantasy stock market portfolio where they invest $10,000 in individual stocks and track their performance throughout the quarter.
Other topics that are covered include budgeting, avoiding identify theft, and determining hidden costs and how to avoid being “upsold” when making large purchases. Time is spent calculating the hidden costs of car ownership, and determining what they can, and cannot afford even when the vehicle is given to them!
Students learn how to read and understand the “small-print” in legal documents such as rental agreements and credit card applications. Students learn to decipher paycheck stubs and W-2 forms and will complete W-4 worksheets.
The students finish out the quarter by spending several weeks on a post-high school education project. The project requires the students to choose either a college or technical school degree to pursue. They research the cost/benefits of the education as well as multiple paths to obtain the degree/training.
The students finish out the quarter by spending several weeks on a post-high school education project. The project requires the students to choose either a college or technical school degree to pursue. They research the cost/benefits of the education as well as multiple paths to obtain the degree/training.
They compare the costs of in-state vs. out-of-state, and four-year universities vs. two-year community colleges. With this information they calculate the “return on investment” for each option based on expected salary/incomes for the chosen degree or training.
- Ms. Erin Flanigan, 7th and 8th grade SS teacher.
“PFL class helped me learn how important I spend my money is to my future.” - Lilliana M.
“PFL class taught me about specifically college and managing how we can choose a good fit for me. Also, how a budget works.” - Josh B.
“PFL class taught me how to budget and spend my money wisely.” - Saje B.
“PFL is the most interesting exploratory I have had this year.” - Joseph W.
“The class has been a great addition to our exploratory rotation for 8th graders this year. I enjoy the conversation I have heard during lunch time and with the help of writing this blog.” - Jeff Strouss, HBRMS Principal
“PFL class helped me learn how important I spend my money is to my future.” - Lilliana M.
“PFL class taught me about specifically college and managing how we can choose a good fit for me. Also, how a budget works.” - Josh B.
“PFL class taught me how to budget and spend my money wisely.” - Saje B.
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| Ms Flanigan's Financial Literacy Class |
“PFL class taught me how to use credit cards appropriately and what the hidden cost are behind them. It also taught me what things I will be having to do around finances later in life.” - Adam G.
“PFL is the most interesting exploratory I have had this year.” - Joseph W.
“The class has been a great addition to our exploratory rotation for 8th graders this year. I enjoy the conversation I have heard during lunch time and with the help of writing this blog.” - Jeff Strouss, HBRMS Principal