October Monthly Objectives-Financial Literacy and Scholarships

Image from OnCourse Learning

November will be Financial Literacy Month in Canada — a month to support the development of financial literacy skills of all Canadians. So let’s use October to get an early start!

“Having open conversations about finances and incorporating lessons throughout children’s lives can go far in raising financially healthy people,” (Michelle Singerman, Chartered Professional Accountants Canada). Experts believe that just like any other skill, learning financial literacy early in life helps create developmental building blocks that set them up for a healthy and secure financial life.

Looking for great ways to engage students in money conversation for the month of October? Scroll down to the bottom of today’s blog post to learn more!

K-6 Newsletter (or K-7)

Title: Financial Literacy

By teaching and informing youth early in their life about the importance of money and making the right financial decisions, students will grow to develop stronger money habits before becoming income earners. This leads students to become smarter consumers, gain an understanding of the impact of their consumer activity, and be confident and comfortable talking about money. Better yet, students who learn financial literacy early will build a better understanding of personal finances, and the economy, and will develop early saving and investment habits.

Here are some great ways to engage students in money conversations using All About Me:

1. Grade 1: Grocery Shopping Role Play — This lesson plan focuses on the decision-making process when spending money and how the amount of money you have affects the items you can buy.
2. Grade 2: Needs vs. Wants — This lesson introduces students to the difference between needs and wants and focuses on the concept of spending money wisely.
3. Grade 3: Planning a Purchase — This lesson will help students develop problem-solving skills by exploring concepts related to saving, value, and hidden costs.
4. Grade 4: Distribution of Wealth — This lesson plan helps students explore concepts such as income and expense, as well as the distribution of wealth.
5. Grade 5: Consumer Awareness and Healthy Choices — This lesson plan focuses on consumer awareness and the right to be informed. Students will learn to create a budget and make responsible purchasing choices.
6. Grade 6: Saving Energy — This lesson focuses on hidden costs and helps students gain an understanding of managing finances in the real world.

7–12 Newsletter (or 8–12)

Title: Financial Literacy and Scholarships Planning

Paul Goebel of the Student Money Management Center Financial shared that the future success of students relies on providing opportunities for them to learn, develop, and strengthen the core life skills they need today, and more importantly, tomorrow. Financial literacy is considered to be one such life skill!

Teaching students about money early on will increase their financial literacy and build their understanding of personal finances, the economy, and the results of their consumer activity. By having these discussions in school, we can prompt students to talk about money with their families, and bridge the gap between learning and real-life application.

Additionally, when students are financially literate they are better able to familiarise themselves with their financial resources and determine their funding needs and available resources (such as scholarships) to capitalise on post-secondary education opportunities.

Want to learn more about how to support Financial Literacy and Scholarships Planning in Education Planner?

1. Have students use the Money tool and Budget Guide to create a budget for something that they want (i.e. a new laptop) or their post-secondary plans.
2. Have students set S.M.A.R.T. goals relating to their savings, investments, or post-secondary plans.
3. Have students create a Math or Financial Literacy Portfolio to reflect on their understanding of key financial literacy concepts and track achievements in numeracy.
4. Download the grade-specific Financial Literacy lesson plan and have your students read our blog post on Financial Literacy for Students: 3 Ways You Can Be More Financially Literate.

• Then, have students create a Scholarships Portfolio using the Scholarship Portfolio checklist
• Be sure to share this Scholarship Portfolio exemplar with your students

5. Invite your students to play the web-based Lifestyle Reality Check game and reflect on their learning through their Financial Literacy portfolio in myBlueprint.

• Pro Tip: Educators can find additional resources from Your Money — Students hosted by the Canadian Bankers Association

Implementation Ideas for OCTOBER!

1. Participate in the Education Planner Portfolio “Tell Your Story” Contest! With a focus on the myBlueprint portfolio tool, this contest encourages you to challenge and empower your students to incorporate, showcase, and reflect on their Core Competencies, set goals, and share their learned knowledge of professions, post-secondary programs, and real-world opportunities — documenting it all in a portfolio!

Click this Portfolio Contest Link to find out how you can enter to win one of three $200 Gift Card prize packages.

2. Help students mindfully build essential competencies — October’s focus is Lifelong Learning. Have students watch S1E21 of Competencies without a Classroom and engage them in a discussion using the accompanying slide deck, teacher guide, and student handout.

Join the myBlueprint Community to stay up to date with all things myBlueprint, and interact with educators across Canada sharing implementation ideas and success stories.

Want to learn more? Email support@myBlueprint.ca, sign up for a drop-in webinar or watch our bite-sized video tutorials.