How Lindley Academy Prepares 6th Graders for Financial Literacy

How Lindley Academy Prepares 6th Graders for Financial Literacy

Lindley Academy, a K-8 school in Philadelphia, has taken the initiative to prepare its 6th graders forfinancial literacy. In this article, we will explore how Lindley Academy is preparing its students for financial literacy and why financial literacy is important.

Why is financial literacy important?

Before discussing how Lindley Academy is preparing its students for financial literacy, it is important to understand why financial literacy is important. Financial literacy is the ability to understand and manage personal finances effectively. It is crucial for individuals to have financial literacy as it helps them make informed financial decisions, avoid debt, and plan for their future.

How is Lindley Academy preparing its students for financial literacy?

Lindley Academy is preparing its 6th graders for financial literacy through a program called "Bank in School". This program is a partnership between the school and PNC Bank, which provides the students with a hands-on approach to learning about personal finances.

Budgeting and saving:

The students learn aboutbudgetingand saving through classroom instruction and practical exercises. They are given a "salary" and are required to create a budget for their monthly expenses. The students also learn about the importance of saving and how to set financial goals.

Banking:

The students are introduced to the basics of banking, including the different types of bank accounts and how to use a bank account. They are also taught about the importance of keeping track of their bank account balance and how to use an ATM.

Investing:

The students learn aboutinvestingthrough classroom instruction and practical exercises. They are taught about the different types of investments and how to evaluate investment opportunities. The students are also introduced to the concept of risk and return.

Real-life experiences:

In addition to classroom instruction, the students also have the opportunity to participate in real-life experiences. They visit PNC Bank and learn about the different services offered by the bank. The students also have the opportunity to participate in a stock market simulation game, which allows them to experience investing in the stock market in a safe and controlled environment.

Conclusion:

In conclusion, Lindley Academy is taking a proactive approach to prepare its 6th graders for financial literacy. Through the "Bank in School" program, the students are given a hands-on approach to learning about personal finances, including budgeting and saving, banking, and investing. By providing its students with the knowledge and skills required to manage personal finances effectively, Lindley Academy is setting them up for a successful financial future.