Students need Financial Literacy skills

Recently in a discussion with a student about his future beyond high school, he commented about the Personal Finances/ Financial Literacy class. The student indicated of all the classes he had taken at Sorenson’s Ranch School, he believed Financial Literacy was the most beneficial. Research has indicated that students who have access to quality financial education will have better financial outcomes as an adult. Students learn how to spend and save wisely, showing them a way to living with less debt and a higher quality of life. Our Financial Literacy class at Sorenson’s Ranch School can help our students understand the concepts of how they can reach their individual goals. Students learn about making career decisions, money management, and financial security. Students also learn about credit, resource management, risk management and insurance. When students move forward in life, they may reflect on how the Financial Literacy concepts can help them understand compound interest, the cost of borrowing money and the way to grow savings or investments. It may help them identify and then reach financial goals. I believe Financial Literacy has been taken for granted in the past, but now more states are starting to see the importance of financial skills and are passing legislation that requires students to have Financial Literacy as part of graduation requirements. Financial Literacy only makes sense since money affects every aspect of an individual’s life. If we don’t teach our students about money and the economy, how can we expect them to manage their own money as they become adults? In my opinion, it is dangerous to our youth to take the next steps in life without understanding the function of money and how to manage credit and risk. At Sorenson’s Ranch School we have a class that helps our students understand these concepts so much better. It helps them transition into independent living which is coming quickly in their future.

Class Objectives

As faculty members at Sorenson’s Ranch School we are working on revising the written objectives for each course we offer. We start by reviewing the state core standards for each content area and then add what we think is appropriate for our typical students. We know that we work with a unique group of students, and our goal is to provide the best educational experience possible for each one. Our class objectives will be based on state requirements and our experience with students of the past, as well as best practices for students who have or probably should have an IEP for some accommodations in their education. Our class objectives will help us consistently cover important information on each topic, and be flexible enough to meet the needs of our diverse students. We use a variety of instructional strategies and assessments allowing our students to demonstrate proficiency in different ways. One method we use for assessment is portfolios, which allows students to collect samples of proficient work under the direction of their teacher. Class objectives are important because they drive all of the components of the educational process. We teach our students the things we want them to know, we assess what they are learning through both formative and summative strategies, and we evaluate ourselves all based on our objectives. We use the information we gather to plan, modify, and assess future instruction. Deciding what we want our students to remember from all of the information covered helps us to organize our efforts, and it helps our students with retention of the information. Most of our students struggle with retention of information. By organizing and constantly assessing, we are able to help our students with these types of issues. We realize that having objectives is not a guarantee of performance or learning, but as I mentioned before, it serves to organize the process. There are a lot of things covered in every class at Sorenson’s Ranch School, enough to overwhelm the average student. Taking the time to create and organize what we want our students to learn during the time that we get to work with them helps us to better serve their needs.