Teach Your 8th Graders Personal Finance with These Engaging Lesson Plans
As our students’ exposure to money and financial matters steadily increases, it’s important to provide them with guidance in personal finance. With that in mind, here are some engaging lesson plans that you can leverage to teach your 8th graders about personal finance.
1. Make Them the CEO
Start by having the students split into teams and create a make-believe company. After that, they should devise a business plan and pitch ideas to a panel. Along the way, they’ll learn about budgeting, forecasting, and investing.
2. The Importance of Saving
Saving is a crucial aspect of personal finance. To teach students about saving, start by having them keep a spending journal for a week. After reviewing their expenses, have a discussion on different ways to save money. Challenge them to identify how much they could save monthly by reducing some of their expenses.
3. Understanding Credit
Many young people aren’t aware of their credit score nor how important it is. You can teach about credit by giving them an overview of how credit works, why it’s important, and how it’s determined. You can also show them how to use a credit card responsibly.
4. The Stock Market Game
One way to get students interested in investing is to play the stock market game, which allows students to experience simulated investing. Working in teams, students can compete to see who can earn the highest returns by the end of the game.
5. The Importance of Insurance
Students should also understand the importance of insurance. Discuss different types of insurance, including medical, life, and car insurance, and the risks they help mitigate. Then, have them research and compare prices for a policy.
In conclusion, these lesson plans provide an excellent starting point for teaching personal finance to 8th graders. By using engaging activities and real-world examples, students will be better equipped to manage their money and plan for their future.
