This week on Homeschool Highschool Podcast: Financial Literacy for Homeschool High Schoolers- Special Replay. This post is running concurrently on the Ultimate Homeschool Podcast Network.
How do you go about preparing homeschool high schoolers for managing money throughout their lives? Financial Literacy is a life skills math credit that many teens will use WAY more often than their high school math. Join Sabrina, Vicki, Kym and Eagle, the Seeing Eye puppy for a fun discussion of Financial Literacy curriculum.
Lots of us homeschooling parents did not have Financial Literacy courses in their high school days. Remember back then? The emphasis was taking lots of rigorous academic maths and sciences so that we would look competitive to colleges. Consumer Math or Financial Literacy was looked down on- a waste of credit-earning time. Often, those practical courses were reserved for non-college bound peers.
Then came 2008, when the economy crashed! Some economists believed that poor personal financial management (including too much mortgage debt) was part of the problem. Education officials realized that many teens graduated from high school with no financial training. In reaction to this, many state education departments began to require that high school transcripts include Consumer Math so that teens could be ready with at least basic life-preparation, money-management skills.
But Consumer Math might not be enough for many teens. If they want real-life preparation for not just money, but for:
- making financial decisions that will work for them, not against them
- wisely planning for the future
- other financial considerations
Teens need more than Consumer Math for a financially successful future. They need Financial Literacy!
So, what is the difference between Consumer Math and Financial Literacy?
- Consumer Math covers the basics such as creating a budget and balancing a checkbook.
- Financial Literacy covers Consumer Math PLUS planning for the future, finding the right insurances, banking, credit and more.
Where do you find Financial Literacy courses
There are several good financial training courses. We, of course, like 7Sisters’ Financial Literacy because it covers all the bases of Financial Literacy courses but also trains students on how to find information (and where to avoid information). It is a fun, interactive, internet-based, practical curriculum that teens love…and actually use. Homeschool high schoolers finish the course with a life financial plan.
As soon as 7Sisters’ published our Financial Literacy course, our teens began using it and teaching it in our local homeschool co-op and group classes. The curriculum was vetted by the teens, who gave valuable feedback on how they learn best. Many teens are now adults and still using the skills they learned from their Financial Literacy course.
Vicki shares that her youngest was one of the first students to use this curriculum. He started budgeting and planning for the future in eleventh grade and is now grown with a solid job, marriage, home and reasonable lifestyle. This is because he started learning and applying Financial Literacy skills in his youth.
You can also find online Financial Literacy courses that are presented by schools such as:
- FundaFunda Academy (check out their podcast: Homeschooling with Technology)
- True North Academy (check out their podcast: Life Skills 101)
Is Financial Literacy a Math credit or an Elective credit?
That’s a good question. Financial Literacy can be either a Math or Elective credit, according to your teens’ goals. For non-college-bound teens, or for teens who are not aiming for a competitive college, they can usually use Financial Literacy as a Math credit (after all, it employs a LOT of math, right?). For teens aiming for a more competitive college, it is a good idea to count Financial Literacy as a Life-Skills Elective.
Want some fun when your homeschool high schoolers are learning Financial Literacy?
Check out these posts with lots of cool, practical ideas for learning about money.
Start off with sharing few blog posts that explain the benefit of learning Financial Literacy.
- Say “Yes” to the Dress? Why Should Homeschoolers Study Financial Literacy
- Sara explains to teens why they should learn to manage their money well.
- Homeschool Graduate Shares Why Financial Literacy is SO Important
- Another of Sara’s sons, Joel, shares his experiences with managing money using the skills he learned in Financial Literacy.
- Four Reasons to Study Financial Literacy
- A quick and concise, but convincing, list of reasons to learn to manage money.
- Listen to this episode on Financial Literacy for Teens on the Homeschool Highschool Podcast!
- Share a weekly infographic about Finances (and maybe have your homeschool high schoolers create some, too)
Then, you can add some fun to your Financial Literacy course with games. Here are some favorite Consumer Math games.
Your teens will benefit from taking Financial Literacy, but don’t take our word for it. Check out these posts from 7Sister Sara’s sons Luke and Joel. You’ll also enjoy this Dollars and Cents Podcast episode on How to Teach Kids about Managing Money.