Teaching Financial Literacy at Maranatha Academy
Some adults could probably even benefit from a popular class at Maranatha Christian Academy. Fourth graders learn money management throughout the school year in a class called “Mini Economy.”
Students put their financial skills to the test in a quarterly shopping/bill-paying event. The classroom has different stations that mock real-life money situations. There are fines and even insurance and rent to pay.
In this class, students have real jobs. They get a base pay of $4 for coming to school and then they earn $2 each week for different jobs. They can also earn extra money and, just like in the real world, there are consequences if they do not get the job done.
We followed student Carissa Dumala around as she made her way to different classroom stations.
“How much do I have to do for taxes and teacher pay?” she asked a student clerk.
After paying all her bills and fines, she made her way to the bank to see how much she has left to go shopping. It is the fundamentals of finance. Something the students will use for years to come.
“I learned that, when you get older this is kind of like what you do and I thought it was really cool and I saw how grownups feel,” said Dumala.