Every single student is going to need to know how to manage their finances. Yet, in my 25 years of teaching, I have never seen personal finance meaningfully embedded into everyday learning. Teaching personal finance isn’t just a job for an economics class; it’s a skill that impacts every aspect of life. Students make financial decisions long before adulthood, whether it’s spending birthday money, saving for something they want, or understanding the value of work. So why aren’t we weaving financial literacy into all subjects, from kindergarten to high school English? Through storytelling, decision-making discussions, and analyzing real-world examples, we can integrate personal finance concepts into the lessons we’re already teaching in ways that feel natural and relevant to students’ lives.
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I’ve recently come across a personal finance tool that I am loving! Tiller. No surprise since it integrates with Google Sheets. A good place to start working with students on personal finance is to understand your own finances better.
Why Teaching Personal Finance Matters
Financial literacy affects every aspect of life, from paying bills to making major purchases to planning for the future. Yet, research shows that many young adults struggle with basic financial concepts. A 2024 survey by the National Foundation for Credit Counseling found that 47% of U.S. adults rated their personal finance knowledge as a “C” or worse, a 12% increase since 2009. Additionally, a 2021 financial literacy test showed that only 36% of Gen Z adults scored between 51% and 100%, highlighting significant knowledge gaps among young people.
Beyond the numbers, personal finance is about decision-making, responsibility, and independence. Students are already making financial decisions, whether they realize it or not. They choose how to spend their allowance, decide whether to save for something they want, and are constantly influenced by advertising and peer pressure. If we want students to grow into financially responsible adults, we need to start teaching these skills long before they’re signing student loan agreements or getting their first credit card.
Teaching Personal Finance in Elementary School
Financial literacy isn’t just for adults, and it doesn’t have to be complicated. Even young students can start developing an understanding of money, choices, and the value of saving. Teaching personal finance in elementary school is about building a foundation, helping students recognize that money is a tool, decisions have consequences, and saving leads to opportunities. The best way to do this is by embedding financial lessons into the subjects we already teach in ways that are engaging and age-appropriate.
Storytelling and Literature
Books are a natural way to introduce financial concepts to young learners. Stories like Bunny Money by Rosemary Wells, A Chair for My Mother by Vera B. Williams, and Those Shoes by Maribeth Boelts help children understand earning, saving, and making choices. After reading, students can discuss questions like:
- What decisions did the characters make about money?
- How did saving help them reach their goals?
- What would you have done differently in their situation?
By integrating personal finance into read-alouds and discussions, students can connect financial literacy to real-life situations.
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Classroom Economy and Decision-Making
A simple classroom economy can give students hands-on experience with money management. Teachers can create a system where students earn classroom “dollars” for tasks like helping out, participating, or completing work. They can then “spend” their earnings on small rewards or privileges or save for bigger opportunities. This activity teaches:
- The difference between earning and spending
- Delayed gratification and saving for a goal
- The idea that money is a limited resource and must be managed wisely
This kind of activity is not about control. It is about empowering students to make choices and see the impact of those choices in a safe environment.
It’s Never Too Early to Teach Spreadsheets
Many people assume spreadsheets are too advanced for young learners, but that is simply not true. Even the youngest students can use spreadsheets in fun and engaging ways that help them develop both financial literacy and basic technology skills. In Google Apps for Littles, my co-author Christine Pinto introduced spreadsheets to her T-K students, showing that not only are four-year-olds capable of using spreadsheets, they love it!
Start with Pixel Art
Get students started with spreadsheet by having them do pixel art in Google Sheets. My Pixel Art add-on is free and collects no user data. Students type numbers or letters into a cell to fill in the square. Creating pictures.
In this Ten Frames template, students use pixel art to color in a ten frame. They write the equation to express the visual. Students then write a spreadsheet formula to check their work.
English: The Psychology of Money and Financial Decision-Making
Stories shape the way we think about money. Literature, nonfiction articles, and personal narratives provide powerful ways for students to analyze financial decision-making and its impact on individuals and society.
- Read and discuss books like The Psychology of Money by Morgan Housel or excerpts from memoirs where financial struggles play a role.
- Have students write personal narratives or persuasive essays on topics like “A time I had to make a financial decision” or “Should financial education be mandatory in schools?”
- Analyze characters’ financial choices in novels and plays. What led to their decisions? Were they financially responsible? How might their lives have been different with better financial literacy?
This approach helps students understand how emotions, social pressure, and personal circumstances influence money decisions.
Science: The Cost of Health and Environmental Choices
Scientific concepts often have financial implications. Understanding the cost of health care, sustainable living, and environmental conservation ties into financial literacy.
- In biology, students can research how health choices impact personal finances. What is the financial cost of smoking, poor nutrition, or lack of exercise? How do preventative health measures save money in the long run?
- In environmental science, students can explore the economics of renewable energy, conservation, and waste reduction. How much money does a household save by reducing energy consumption or using reusable products?
- In chemistry, students can examine the cost of pharmaceuticals and the financial burden of medical treatments. How does the development of new medicines affect pricing and accessibility?
These lessons connect personal finance to real-world issues, helping students see how financial literacy influences both personal well-being and global sustainability.
Social Studies: Taxes, Public Policy, and Economic Systems
Government and economic policies directly impact personal finance. Social studies provides the perfect opportunity to explore these connections.
- In civics or government classes, students can examine tax policies and how they affect different income groups. Have them analyze a sample paycheck and discuss deductions like federal and state taxes, Social Security, and Medicare.
- In history, students can study financial crises such as the Great Depression or the 2008 financial collapse. What mistakes were made? What lessons can we learn?
- In geography, students can compare the cost of living in different cities or countries and analyze how economic conditions influence migration, job opportunities, and quality of life.
By tying financial literacy to historical and political contexts, students gain a deeper understanding of how personal finance decisions are shaped by broader economic forces.
Art: The Business of Creativity and Pricing Your Work
Many students dream of pursuing careers in the arts, but they often do not realize the financial challenges involved. Teaching personal finance in art class helps students understand the economic realities of creative careers.
- Have students research how professional artists price their work. What factors influence the cost of a painting, a digital design, or a photography session?
- Discuss how freelance artists and musicians manage their finances. What are the challenges of irregular income, and how do successful artists budget to stay financially stable?
- Explore the financial side of art commissions, gallery fees, and selling digital designs. How do artists balance passion with making a living?
These activities help students see the financial side of creativity, empowering them to make informed decisions if they choose careers in the arts.
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Physical Education and Health: The Financial Impact of Lifestyle Choices
Physical education and health classes provide a great opportunity to discuss the financial implications of lifestyle choices.
- Discuss how regular exercise and healthy eating can prevent costly medical expenses. What are the long-term financial benefits of maintaining good health?
- Analyze the cost of sports participation, including equipment, training, and travel. How can students find affordable ways to stay active?
- Explore the financial impact of substance abuse. What is the lifetime cost of smoking, vaping, or excessive alcohol consumption?
These discussions help students understand that health is not just about physical well-being, but also about making financial choices that support a long and healthy life.
Foreign Language: Cultural Perspectives on Money and Work
Learning a new language also means learning about different cultures and their financial practices.
- Have students research and compare banking systems, average salaries, and cost of living in countries where the target language is spoken.
- Discuss cultural attitudes toward saving, investing, and spending. How do financial habits differ across cultures?
- Use real-world scenarios like ordering from a café, booking a hotel, or negotiating a price at a market to teach students about foreign currency, exchange rates, and budgeting while traveling.
This approach makes financial literacy more engaging by connecting it to language learning and global awareness.
Technology and Computer Science: Digital Finance and Cybersecurity
With the rise of online banking, digital payments, and cryptocurrency, financial literacy must include an understanding of digital finance and cybersecurity.
- Teach students about online banking, digital wallets, and peer-to-peer payment apps. How do these technologies make managing money easier, and what are the risks?
- Discuss cybersecurity best practices to protect against fraud, identity theft, and online scams.
- Explore careers in fintech and how technology is shaping the future of money management.
These lessons help students navigate the digital financial world safely and responsibly.
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Spreadsheets for Every Subject!
Granted, I teach math, so spreadsheets may seem like an obvious choice for my class. But the truth is, spreadsheets are for everyone. Year after year, my students tell me that one of their favorite parts of my class was learning how to use spreadsheets. It is a skill that keeps on giving. Once students understand the power of spreadsheets, they not only use them in their daily lives, but they are also eager to share how they are applying them. Spreadsheets are an empowering tool, and when it comes to managing personal finance, they are essential.
Tiller is an Affordable Personal Finance Tool
I am genuinely enthusiastic about Tiller. It is an incredible tool that makes managing finances so much easier. Over the years, I have tried countless financial products, including QuickBooks, and most have been a frustrating battle against clunky, non-user-friendly interfaces. Tiller connects directly to your bank accounts and credit cards, automatically importing transactions. Its autocategorization feature recognizes repeat transactions and labels them for you, while built-in charts and graphs make tracking your finances effortless. Best of all, Tiller works in Google Sheets or Excel, allowing you to customize and manage it in a way that fits your needs.
Making Financial Literacy a Part of Every Classroom
No matter what subject you teach, there is a natural way to integrate financial literacy into your lessons. Personal finance is not just about numbers. It is about decision-making, responsibility, and understanding the world we live in. By embedding financial concepts into different subjects, we give students a well-rounded education that prepares them for real-life financial decisions.
