They might be years away from managing their own personal finances, but Cannon Elementary fourth grade students are already learning about financial literacy.
Before diving into the math of finances and to make the lesson more engaging, library media specialist Kyleigh Whitsell first had the students take a career interest survey that would provide them salaries for careers in the DFW area that they could then use to complete their monthly budget planner.
“This is a good way to introduce them to financial literacy or review past skills through a real-world application,” Whitsell explained.
Student Valentina Bazaldua determined that her career as a detective and criminal investigator would yield a yearly salary of $91,100. While in the process of adding her monthly expenses that included a car payment, car insurance, groceries, utility bills and eating out, she immediately made an observation.
“Rent is a lot,” she remarked.
At a nearby desk, Ximena Santibanez had already determined that she would have a little more than $100 left after subtracting her $3,209 of expenses from her monthly income of $3,396.
That prompted her to make a plan: her photographer job would only be temporary while she completes dentistry school, which she stated is her current life goal and will be a better paying job.
Charlotte Raices’ architect career yielded a yearly salary of $93,310, leaving $4,566 after expenses. Even with a sizable remaining monthly amount, she was quick to answer the last question of the monthly budget planner regarding life events that might cause a budget to change. Raices noted that house repairs or having children would impact her finances.
“Even though it’s a pretty good job, you have to save a lot to help you with your expenses and have some left over,” Raices added.
She also realized the importance of the lesson.
“I think it’s important because even if you’re still young and you’re saving up to buy something, you can learn how to budget so you can save,” she stated. “You have to look at each thing you’re spending on so you can have some money left over.”
Seeing students enjoying the lesson while learning about financial literacy and careers is what Whitsell hoped the students would take away.
“Getting them engaged was key,” she added. “I wanted them to have student agency and also see this as more than just doing math and instead view it as a life skill.”
Inside-the-classroom fact: Financial literacy is part of the Texas Essential Knowledge and Skills and is taught in GCISD starting in elementary school.