Cody Russell 2021 Fin Lit! Innovation Award

Cody Russell 2021 Fin Lit! Innovation Award
Posted on 10/22/2021
Cody Russell
Bringing Financial Literacy to Life for Middle School Students
The program truly brings financial literacy to life through creating a virtual economic system designed for the classroom. Key programmatic goals are to increase students’ financial literacy and life skills thus preparing them for economic success and connecting students to future finance-related careers. Utilizing programs such as Paygrade and/or Digitability will help teachers create a classroom economy to “pay” students and bring hard to teach concepts to life for students. Students will “apply” for a job and complete the in-class “hiring” process. Each student will be required to create a portfolio as well. Within their portfolios, students will showcase their ability to have and maintain positive budgets, make investments that show strength based on researching companies, establish 401(k)s, and ensure their monthly bills are paid on time to avoid late fees. Students will also learn how to select and pay for insurance with monthly withdrawals from their “paycheck”, and the importance of a healthy credit report. Their portfolios will be the final grade to measure the entirety of knowledge learned throughout the course.