Financial Literacy
http://financialplan.about.com/od/budgetingyourmoney/ht/createbudget.htm
Creating and implementing a budget is a hands-on process that internalizes and exposes your students to beneficial everyday financial vocabulary. Read the article (link above) about creating a family budget with your student; the article is a simple seven-step approach in creating a basic functioning budget. Please help define any unfamiliar words your student may come across. You may help prepare this budget with your student if you wish, however; it may be more beneficial to let them attempt this task on their own to test their reading comprehension.
Have students identify unfamiliar words about financial literacy and help define them. Set a goal about when the budget should be created, put into use, etc., then follow up by having your student describe the experience briefly.
Activities are successful ways to help students retain knowledge; especially activities that directly address our student’s immediate needs.
A study conducted by Pennsylvania State University’s Elementary Education department found that reading, phonetics, spelling, and vocabulary were not enough to enhance a child’s literacy. Rather, engaging students in activities focused on their self-interests, while utilizing recently learned skills in small groups is essential for progress. This is also true for adults, so this activity will help with reading comprehension, application, and verbal communication of ideas.
If your student is interested in additional information about financial literacy, Project Read has a financial planning course you can use to develop lessons for your tutoring sessions.
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