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21st Century Skill:Financial Literacy

So we are having the money talk right now. Does kid today need to learn about how to management money? I mean, are they too young for that?

Well, the answer is no, kids today are learning about money management, so they will not grow into adult like us. I mean, I know so many people not knowing how to do their taxes as adults. And of course I am one of them, and I am not proud of that.

According the Ministry of Education in Ontario, financial literacy is defined as “having the knowledge and skills needed to make responsible economic and financial decisions with competence and confidence” (2006, p.3).  Learning about financial literacy is extremely beneficial for students since we are living in a capitalist society.

Financial literacy is highly valued in the current education system. The goal of financial literacy is to equip students with knowledge and skills that enable them to understand and respond to complex issues regarding their own financial status and their families’ financial status(Arthur, 2012). Students will learn about how the local and national economic system function and become well-informed citizens of the country (Arthur, 2012). Arthur (2012) also stressed that teachers should educate students on special concepts such as scarcity, value of different kinds of jobs, advertisement, the value of free market, interest rate, inflation, as well as various topic related to economic systems.


It may seems very tricky for teacher to educate students on financial literacy. 
The Surprising Way to Teach Your Kids to be Smart with Money | Ellen Rogin | TEDxSevenMileBeach
Teaching kids about money
Classroom Economy | Financial Literacy: TEACH IT!
References:
Arthur, C. (2012). Consumers or critical citizens? Financial literacy education and freedom. Critical Education, 3(6), 1-24.
Ontario Ministry of Education. (2016). Financial Literacy: Scope and Sequence of Expectations. Retrieved from: http://guides.library.ualberta.ca/apa-citation-style/curriculum 

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