Financial Literacy Course Offered to Students
Looking back to my childhood, I recognize that I had no concept of how money really works. I knew money did not grow on trees, but surely that was not a far-fetched concept to me as a child. I certainly knew how to spend money and earn it, but the realities of saving, budgeting, loans, interest rates, credit, checking, savings, money market accounts, etc., were completely foreign to me. No offense to number lovers, but as I reflect back on what I considered the miserable math requirements in high school, I wonder why subjects like algebra, geometry, and trigonometry, which most people do not use regularly, outweigh financial literacy courses.
Well, it seems like times are changing! Thanks to the generosity of leaders at First Commercial Bank, students at The Redeemer’s School have been afforded, two years in a row now, the opportunity to participate in a Financial Literacy course through the EVERFI online platform.
“In the financial literacy program, we learned about budgeting, saving, and how to spend your money on the correct things,” says TRS 5th grader, Janae Bailey. Bailey says she had never taken a financial literacy class before, but found the class beneficial, “ so you will know how to spend your money in real life and so that you make good choices with your money,” says Bailey.
TRS Innovative Learning Strategist Mrs. Leanna Range-Norwood administered the “Understanding Money” curriculum to TRS 4th-6th graders during the month of April (Financial Literacy Month). Mrs. Range-Norwood says, “Understanding Money” is a digital education program that teaches students how to make wise financial decisions and improve their social-emotional skills like goal-setting and responsible decision-making. The interactive lessons engage learners in an immersive adventure that translates financial concepts into easy-to-apply experiences that help students develop strategies for managing future finances.”
Kynnady Holden, a TRS 6th grader says, “I think it [the class] will help me have money to save. It will help me have money to spend and help me know what to spend money on and it will help me budget so I know how much money to spend.” The twelve-year-old says it’s important to learn about financial responsibility as a student because “when you grow older you will know how to spend your money wisely.”
And that’s the idea. Mrs. Range-Norwood says, “Prioritizing expenses, the value of sticking to a budget, identifying career possibilities, understanding how credit works, recognizing the value of long-term saving and investing,” are lifelong skills our students will begin to value at an early age.
Students who complete the program and do well can look forward to some perks. Mrs. Range-Norwood says, “We have partnered with the Economic Development Committee of Jackson MS Alumnae Chapter of Delta Sigma Theta Sorority, Inc. to provide incentives. Students who receive certification (complete all 5 modules with a grade of 70+) will get a certificate of achievement. Each class earning 100% completion will earn money to budget for a class party. If classes don't meet the goal, the students who finish will be given a stipend.”
The Redeemer’s School family thanks the leadership at First Commercial Bank for offering the EVERFI financial literacy program to our students. I am optimistic that programs like this will give students a head start when it comes to wise fiscal management and having a better understanding of how money works.