Credit Unions in the News

Recently, we spotted Ravalli CU’s Laci Rose sharing financial education and the #CUDifference with 1st grade students. As you would imagine, it wasn’t your typical reality fair concept. Here’s what she had to say about her experience.

At the credit union, we believe financial education is important, no matter what age you are. When I was asked to come into Mrs. Poppema’s first-grade class at Corvallis Primary to talk about money, I instantly said yes. Both of my kids had Mrs. Poppema, and I also had the privilege of visiting their class and teaching about financial education.

When I visited the first graders, they learned about money, what it looks like, who is on each of the bills, and what we, as a financial institution, look at to determine if the bill is real. The most asked question was “Can I have that money?” I also ran through a Reality Fair simulation with the students, just as if they were in high school getting ready to make big life decisions. As a group, they got to choose their career. The first graders chose to be a firefighter who made a net income of $3,900. After selecting their housing, vehicle, and vacation expenses (just to name a few), they found out that they may not be able to take the elaborate vacation they want and might have to consider a different vehicle since their monthly expenses exceeded $5,900. This was an eye-opener for the students. Even as first-graders, they realized that money often doesn’t go a long way, and you have to be careful about spending their money.

Another simulation/activity I’ve run with this grade level is a similar game with M&M’s. Each M&M is worth $1, and each color represents either an income or an expense. Some examples of income for this group include receiving birthday money or having a bake sale. Expenses included going to the movies or purchasing a toy. Unlike the Reality Fair simulation, you do not get a choice of options. This helps students learn that sometimes they don’t get to determine the outcome of life, and they have to figure it out with “the hand they are dealt.” Each student felt much better about this activity, as most came out ahead or right at zero. Of course, they got to eat the M&M’s after the activity.

When you start conversations about money, saving, and expenses at a young age, it helps plant the seed of becoming aware. I cannot stress enough the importance of money handling, basic money knowledge, and the benefits it will bring to teens and young adults when that seed gets planted at a young age. I encourage all teachers to present money in the classroom, show what a budget is, and explain the differences between income and expenses. Your students will thank you later for it!