In addition to covering my United States Government and Politics curriculum, every year I put my students through a mini “adulting 101” bootcamp. During the first semester of school we focus on basic “adulting” skills like registering to vote, laundry care, vehicle maintenance, building a resume, meal planning, cooking, etc.
During the second semester, I focus on four financial basics that establish a foundation for these students to become financially literate adults.
- The basics of banking includes checking accounts, savings accounts, writing checks, money orders, cashier’s checks, fees and setting up automatic payments.
- Understanding credit, credit cards, fees and penalties, interest rates, repayment and credit scores.
- Borrowing money, interest rates, repayment options and debt.
- Budgeting, saving and investing.
Initially when I narrowed the focus of the financial literacy portion of my “adulting 101” curriculum, I reached out to my local bank for information and resources. They not only provided me with free resources, they also offered to present to my students. This was an awesome opportunity for a financial professional and community partner to answer questions and provide insight to these young adults getting ready to start the next, but for most, the first financial chapter of their lives.