How Financial Literacy Helps Lay the Foundation for Transitioning Seniors

Engagement Matters

As a teacher in high school, it can sometimes be difficult to find engaging activities for juniors and seniors to do. So as an educator, I made it my mission to really search for the perfect financial literacy program that would really help my students engage, but also learn the importance of financial support after they graduated high school with hands-on tools and resources. As a Plan for Transition teacher, it was my responsibility to teach my students not only about spending money wisely, but how to survive on their own after they walked across that stage of graduation. I was introduced to a program called Everfi: Financial Literacy, which is a platform that engages students from kindergarten all the way through college levels. Because this platform provided age-appropriate information and engagement activities, my students were motivated and confident in their ability to transition from being a high school student to a now educated financial literacy adult.

Students Have to “Buy-In”

Many may think that financial literacy is not very important but in my eyes it should be a high priority for all high school seniors preparing to graduate. There are so many financial institutions prepared to issue credit cards to seniors who are graduating and moving into the real world. However, how do we prepare our students when they are not educated on the pros and cons of saying yes to money that they cannot physically see? According to Supon, “Financial literacy provide opportunities for students to learn the value of money while promoting responsibility” (2012). Everfi: Financial Literacy provides tools and lessons that align with the grade level standards. This platform provides intrinsic motivation through their simulation modules that allows students to get a hands-on experience in a real-world scenario. It motivates the students. “Intrinsic motivation occurs when one engages in a task for which there is no apparent reward except the pleasure of the activity” (Risner, 2018, p. 79). Everfi provides the motivation that older students need to continue to engage in the activities to learn the financial literacy skills through each 35-minute lesson. Students “buy-in” to this program because it has meaningful information related to their goal of being able and prepared to financially survive after they graduate high school and move in their own apartment or buy their own car, and that motivates them.

Seeing What Growing Up Is All About

All high schoolers want to be grown before their time, and their curiosity just won’t let them enjoy their childhood for very long. But do they know what it takes to truly be an adult and handle adult finances? Miles wrote, “With the increasing complexity of the financial services market, students have a greater need for direction in guiding their financial decisions and improving their financial capability” (2014). Students love to learn outside of the textbook, most teacher now resort to technology to help motivate students to engage in the curriculum. Students need technology that allows them to be active learners and enhances their engagement. Reiser states, “When used effectively (active learning), technology can bring students together into a joint effort, focus their attention on each other and their coordinated actions, increase student engagement in joint assignments, and enhance the overall student experience” (p. 274). Everfi’s platforms are structured based on grade levels and standards. According to Everfi.com, “Immersive digital environments and diverse characters bring modern, relevant financial education objectives to life. Students accelerate their financial understanding through problem-solving, self-reflection and games that provide real-life scenarios for practice” (2022). This platform provides students with confidence that they can be financially stable with their knowledge of financial literacy.

Building the Confidence Through Real-Life Situations

Problem-based learning has Everfi written all over it. “Solving the problem correctly is less important than participating in the process of gathering and learning the information and procedures relevant to solving such problems” (Reiser, 2018, p. 270). Everfi provides real-life scenarios that make students dig for their responses through prior knowledge and interactive activities. Through these lessons, students work through activities such as correctly writing checks to even learning how to file their taxes. How else can we educate our students on these key skills besides letting them see it for themselves, as if it is their own life at that moment? In higher education, students need as much motivation and encouragement as they can get. Young adults long for engagement that doesn’t involve them flipping a page in a book and answering questions, but yet allows them to first-hand work through simulations and physically see the pros and cons of where great financial literacy skills can lead them in the future. Students want to know “why” they are learning a certain concept and will they use it in the future. Our future graduates’ “why” is in front of them on their computer screen, showing them in real life, why financial literacy is so important to their future and their livelihood, all thanks to Everfi: Financial Literacy.

Resources

Everfi: Financial Literacy. (2021). YouTube. Retrieved May 20, 2022, from

https://youtu.be/KeFL8yn8Zug.

Financial literacy for high school students: Free course. EVERFI. (2022, May 20). Retrieved

May 20, 2022, from https://everfi.com/courses/k-12/financial-literacy-high-school/

Kornyeyeva, M. (2021). Learning about money and the intricacies of financial security is

often overlooked within school curriculums. Scotscoop. Carlmont High School

Journalism. Retrieved May 20, 2022, from https://scotscoop.com/wp-

content/uploads/2021/05/Untitled_Artwork-900x675.jpg.

Miles, J. L. (2014). Focus on the Children, Help the Economy: The Importance of Including

Financial Education in Kansas Graduation Requirements. Kansas Journal of Law &

Public Policy, 24(1), 136–155.

Reiser, R., & Dempsey, J. (2018). Trends and Issues in Instructional Design and

Technology (4th ed.). Pearson.

Supon, V. (2012). Helping Students to Become Money Smart. Journal of Instructional

Psychology, 39(1), 68–71.