The Benefits of Teaching Financial Literacy

How much were you taught in school about managing your finances? As an educator, you already know that there are some topics that go far beyond the pages of a textbook, including financial literacy. Unfortunately, many adults never received classroom instruction on how to handle money or make wise investments. In fact, according to the Global Financial Literacy Excellence Center, only 48% of adults in the U.S. are considered financially literate.¹ That said, teachers today have far more resources to bring this type of knowledge to the classroom—and the benefits for doing so are plentiful.

Financial Literacy Is a Lifelong Skill

Perhaps the greatest benefit of teaching financial literacy is that it is an evergreen skill—from ensuring the accuracy of a paystub to balancing a checkbook, understanding basic financial concepts is something that will be put to use for years to come.

Likewise, learning more about budgeting, living within your means, and spending money responsibly can be a game changer for overall fiscal wellness. In some cases, it can keep an eager college student from overusing that first credit card or another from signing off on a car loan with an interest rate that’s too high. By teaching these concepts in elementary school and beyond, you can help ensure that individuals are able to make informed financial choices in the future.

Early Financial Knowledge Sets the Stage for Success in Financial Decision-Making 

Knowing how to file taxes, what it takes to save for retirement, how student loans work, or even how different types of investment options work can mean the difference between good and poor financial management. And it isn’t just children and teenagers that can benefit from this type of education, either. Even seasoned adults can use a refresher in financial literacy.

Developing Teaching Strategies Centered on Personal Finance Is a Good Investment

Curriculums that prioritize and promote financial literacy are on the rise. According to a survey conducted by the Center for Financial Literacy, states that required high school students to take a full semester of personal finance education increased from five in 2020 to 23 in 2023.² Studies have shown that a focus on financial education in high school results in improved credit and debt behaviors, higher credit scores, lower delinquency rates, and more.²

Whether you’re looking to offer advice on the basics of budgeting or tackle long-term financial security, there are plenty of great lesson plan topics for teachers to cover. By including financial literacy as a core topic in your teaching plan, you can play a role in helping to eliminate financial ignorance and its significant costs.

Earn Your MS in Education From Walden University

For more than 50 years, Walden has provided educators with the support they need to further their own education. Walden’s MS in Education degree program is geared toward licensed teachers and offers multiple specializations so you can apply your passion to your graduate program. Choose from specializations such as Elementary Reading and Mathematics, Teacher Leadership (Grades K–12), Mathematics and Science (Grades K–8), and more.

Walden University is an accredited institution offering an MS in Education (MSEd) degree program online. Expand your career options and earn your degree using a convenient, flexible learning platform that fits your busy life.

¹Source: gflec.org/wp-content/uploads/2024/04/TIAA_GFLEC_Report_PFin_April2024_07.pdf 
²Source: financialliteracy.champlain.edu/wp-content/uploads/2023/11/Champlain-College_2023-National-High-School-Report-Card.pdf

Accreditation
Walden University’s Richard W. Riley College of Education and Human Sciences is accredited based on the Council for the Accreditation of Educator Preparation (CAEP) Standards through June 2026. This accreditation covers specific Walden initial teacher and advanced educator preparation programs, including the BS in Elementary Education, Master of Arts in Teaching (MAT) – Special Education specialization, MS in Education – Educational Leadership and Administration specialization, and EdS in Educational Leadership and Administration. The MAT-SPED, MSED-ELA, and EdS-ELA programs were reviewed by Specialized Professional Associations (SPAs), which define content-area standards for programs, and achieved national recognition.

CAEP promotes excellence in educator preparation through quality assurance and continuous improvement. Walden’s College of Education and Human Sciences has earned national accreditation by demonstrating excellence in the areas of content and pedagogy, clinical experiences, selectivity, program impact, and capacity for continuous improvement. CAEP is a Council for Higher Education Accreditation (CHEA)-recognized national accreditor for educator preparation. 

Note on Teacher Licensure or Certification
The only MS in Education Specialization offered by Walden that is state-approved as leading to any educational license or certification is the MS in Education, Educational Leadership and Administration (Principal Licensure Program), which has been approved in Ohio for leading to Building Level Principal Licensure (grades PK–6, grades 4–9, and grades 5–12). No other MS in Education Specialization will lead to teacher licensure or certification. Teachers are advised to contact their individual school districts as to whether this program may qualify for salary advancement.

Walden University is accredited by the Higher Learning Commission (www.hlcommission.org), an institutional accreditation agency recognized by the U.S. Department of Education.