Building Better Money Habits
Throughout April, we are celebrating Financial Capability Month by featuring a variety of financial education programs and resources that you can put to use in your classroom right away. The second of these programs is Better Money Habits – a partnership of Bank of America and Khan Academy which includes a variety of resources including videos, articles, infographics, and worksheets. While the site was designed for the general public, many teachers find its resources useful when presenting different financial topics to their students.
- High-Quality Videos: Khan Academy is known for its high-quality videos that present complex information in an easy to understand manner. There are three different types of videos found throughout Better Money Habits:
- Tools: The site includes interactive tools which help students to customize information and worksheets that can be printed. For example, the Spending Analysis Tool directs users to enter a zip code, age range, number of people in the family, and an income range. Based on this information, an average monthly budget is shown with categories for housing, transportation, food, medical, dining out, personal care, and more. The Organizing Your Bills worksheet provides a place to list upcoming bills, expected amounts, and due date.
- Articles: Many of the topics within Better Money Habits include brief articles that explain topics which might be helpful for students such as Building Your Credit With a Secured Credit Card, How to Secure Your Smartphone, or 9 Tips for Buying Your First Car.
- Careers, Finance, and Life: Better Money Habits recently added a series of videos that interview 19 people about their careers – and their personal finances. Each person explains a little about what they do and how much they earn. For example, Sam, a 27-year-old salon owner in Los Angeles, discusses her gross pay, monthly expenses, and saving for the future.
- Use in the Classroom: To help teachers make use of the Better Money Habits resources, the Council on Economic Education’s EconEdLink website offers 18 lessons that demonstrate how to pair Better Money Habits videos with Financial Fitness for Life lesson plans to teach concepts for students in grades 6-12. In addition, there is a free archived webinar that demonstrates two of the lessons and associated videos.
Look for more featured resources throughout April: Financial Capability Month.
Disclaimer: Resources included on the Making Cents blog have been reviewed by Pennsylvania educators and deemed worthwhile for classroom or professional use. Inclusion does not indicate endorsement by the Pennsylvania Department of Education or Penn State University.