Remember that little poem, “Everything I Needed to Know I Learned In Kindergarten?
Growing up, my mom had a poster that listedall of the basic skills learned in kindergarten that you would use to get through your entire life.
Reading through it, that poem was really very right. Everything you needed to know regarding food, shelter, and sharing everyone absolute DID learn in kindergarten.
I think that kindergarten went deeper than that, though. In kindergarten, each and every one of you learned everything you ever needed to know about life & money (i.e. personal finance) you learned in kindergarten:
“These are the things I learned (in Kindergarten):
1. Share everything.
2. Play fair.
3. Don’t hit people.
4. Put thngs back where you found them.
5. CLEAN UP YOUR OWN MESS.
6. Don’t take things that aren’t yours.
7. Say you’re SORRY when you HURT somebody.
8. Wash your hands before you eat.
9. Flush.
10. Warm cookies and cold milk are good for you.
11. Live a balanced life – learn some and drink some and draw some and paint some and sing and dance and play and work everyday some.
12. Take a nap every afternoon.
13. When you go out into the world, watch out for traffic, hold hands, and stick together.
14. Be aware of wonder. Remember the little seed in the Stryrofoam cup: The roots go down and the plant goes up and nobody really knows how or why, but we are all like that.
15. Goldfish and hamster and white mice and even the little seed in the Styrofoam cup – they all die. So do we.
16. And then remember the Dick-and-Jane books and the first workd you learned – the biggest word of all – LOOK.”
― Robert Fulghum, All I Really Need to Know I Learned in Kindergarten
How does this apply to personal finance, exactly?
Share Everything –
Yes, in kindergarten you learned to share your toys, snacks, and even your crayons. But sharing extends to more than just the basics. I believe in tithing – or at least regularly giving to worthy organizations. I believe that by building giving into your budget from a very early age, you set yourself up for financial success.
The discipline, selflessness, and planning it takes to regularly give is a worthy quality that it not only good to see in yourself, but your children as well.
Put Things Back Where You Found Them –
One of the keys to personal finance success is organization (sorry, you disorganized folks!). Like it or not, managing your finances is easier when you have a system. Just like with putting your toys away in an organized fashion, managing your finances cannot be done without a system that you can stick to consistently and without fail.
However, everyone’s system might not be the same – you need to find what works for you. If you’re disorganized, choose a simple system, such as a bin that all of the bills get thrown into, where you go to pay them every week (or pay period). And if you’re super organized, great! You’ve probably got this in the bag.
Clean Up Your Own Mess –
Debt is messy. Credit card debt is messy. Living beyond your means is messy. I could name a thousand other financial messes, but the same principle that applied to cleaning up the crumbs from your afternoon snack when you were a child applies to your finances as well.
We’ve all made financial mistakes. Some are big, some are small. Some are the result of really horrible circ*mstances, and some are the result of really bad choices. Regardless of which camp you’re in or why you’re in a financial mess, it is up to you to clean it up. No one is going to do it for you, and when it’s all cleaned up you’ll never get yourself into that mess again.
Warm Cookies & Milk Are Good For You –
When life hands you messes – or you got yourself into them all by yourself – cookies & milk are good for the soul. Taking a “milk & cookies” break to regroup, gather your thoughts and develop an actionable plan for change is the only thing that is going make for lasting change.
Live a Balanced Life:learn some and drink some and draw some and paint some and sing and dance and play and work everyday some –
Personal finance is NOT the be-all-to-end-all, folks. Yes, life runs so much smoother when your finances are managed correctly, but there is so much more to life than money! Health, making memories, creativity, and so many other aspects of life are much more important. Get your finances set and then step away. Enjoy the stability you’ve created.
You’ve earned it.
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FAQs
California high school students are required to take one semester of economics to graduate. The content standards for grade twelve economics include topics that support financial literacy knowledge, such as cost-benefit analyses, the functions of financial markets, taxes, and labor policies.
How do you teach financial literacy to kindergarten? ›
- Make Them Earn Their Allowance.
- Encourage Part-Time Gigs.
- Contribute to Purchases.
- Make It a Game.
- Open a Bank Account.
- Introduce Investing.
- Talk Candidly About Money.
Financial literacy is having a basic grasp of money matters and its four fundamental pillars: debt, budgeting, saving, and investing. It's understanding how to build wealth throughout one's life by leveraging the power of these pillars.
What do you learn in personal finance? ›
Personal finance basics include budgeting, saving, investing, managing debt, and understanding credit. Budgeting involves tracking income and expenses, setting financial goals, and making informed spending decisions.
Why should personal finance be taught in school? ›
The teaching of personal finance provides the necessary skills for students to alleviate future worries regarding money and can enable them to start saving for that first house or dream retirement, we just need to teach them the correct skills.
What are the basics of financial education? ›
Key aspects of financial literacy include knowing how to create a budget, plan for retirement, manage debt, and track personal spending. Financial literacy can be obtained through reading books, listening to podcasts, subscribing to financial content, or talking to a financial professional.
How do you teach children about personal finance? ›
Another great way to teach your children about money is by including them when paying bills or discussing large purchases. Family financial meetings can be a way of teaching children about the financial choices you make and why you make them. Depending on the age of the children, try to put it in terms they understand.
What is financial literacy for elementary students? ›
Knowing the Value of Money
Teaching kids their money's worth will help them make more educated decisions on spending, investing, and saving. It teaches kids the importance of money management and the value of spending wisely.
What should be taught in a financial literacy class? ›
The main principles of financial literacy include earning, saving, investing, protecting, spending, and borrowing.
What are the 4 themes of personal finance? ›
Regardless of income or wealth, number of investments, or amount of credit card debt, everyone's financial state fits into a common, fundamental framework, that we call the Four Pillars of Personal Finance. Everyone has four basic components in their financial structure: assets, debts, income, and expenses.
The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.
What are the three C's in financial literacy? ›
Students classify those characteristics based on the three C's of credit (capacity, character, and collateral), assess the riskiness of lending to that individual based on these characteristics, and then decide whether or not to approve or deny the loan request.
What are the 5 basics of personal finance? ›
There's plenty to learn about personal financial topics, but breaking them down can help simplify things. To start expanding your financial literacy, consider these five areas: budgeting, building and improving credit, saving, borrowing and repaying debt, and investing.
What is personal finance in simple words? ›
Personal finance, as a term, covers the concepts of managing your money, saving, and investing. It also includes banking, budgeting, mortgages, investments, insurance, retirement planning, and tax planning.
What is the first step in personal finance? ›
1. Assess your financial situation and typical expenses. The first step is to look at your personal finances and lifestyle. Even if you're not where you'd like to be, be honest with yourself about the income you're currently generating, savings you've accumulated and your general spending habits.
What is taught in a financial literacy class? ›
Teaching financial literacy may save their lives. In addition, through exposure, students may gain an interest in financial career paths. Acquiring an understanding of interest rates, loan practices, and budgeting gives students skills for various professions related to finances.
What does finance class teach you? ›
You'll also learn about investment strategies, risk management, financing, credit reporting and lending. All of these topics can enhance your understanding of your own financial health, both presently and far into the future.
What are financial statements for schools? ›
FINANCIAL STATEMENTS
This includes overseeing the school's financial activities and implementing policies and procedures to protect the organization. Financial statements can be a valuable resource in helping understand and evaluate a school's performance.
What is the personal finance class in high school? ›
There is so much to learn when taking a personal finance class in high school. Beginning with financial planning, students will learn valuable principles on how to budget, helpful tools to use when planning, and problem-solving strategies to make informed decisions.
