Experts have said that without strong math skills, people are normally good at investing, saving, or spending money due to their emotions. The individuals with poor math skills are at higher risks to make huge financial mistakes. A student who fully understands these concepts of exponential growth and compound interest will be better at managing debt. Do you agree or disagree with this? Do you think that students with good math skills are more likely to be successful verses students with poor math skills? OR do you think that math skills have very little to do with whether a student can and will be successful?
Here are my thoughts:
Yes, math is very important as I have learned throughout my college career. I do disagree with the given statements above. I am not good at math, PERIOD. I have gotten better and will continue to get better not only for myself, but for my students as well. Just because I struggle with math doesn’t mean that I have a hard time saving or investing. I pay my bills on time and I know what I can spend and what I can’t. Maybe, I do spend a little too much at times on things that I think I need verses need to survive. The truth of the matter is the financial knowledge decreases over time, so it is important to keep our students involved.
You can create certain math lessons the demonstrate to real life financial situations and budgeting. This allows students to properly spend and save their money without fear or frustration. I have attached a lesson below that I found on a website called educators.brainpop.com this lesson talks about the importance of saving money and the importance of recognizing the needs vs wants.
Link to a lesson: