Financial literacy is an essential life skill, but did you know it’s also a great way to engage students in STEM?
Financial literacy and STEM go hand-in-hand. When students learn about money management, they also learn about problem-solving, critical thinking, and creativity. These skills are essential for success in STEM fields.
Here are a few ways to maximize the ties of financial literacy to STEM education:
Teach the Financial Aspects of STEM Careers
Talk about the cost of education and training for STEM careers, as well as the salaries that STEM professionals earn. Many students don’t know just how many careers could be available to them, so taking the time to introduce new possibilities helps students decide what to pursue. This also helps students see the value of STEM education and how it can lead to a successful career.
Research the Financial Impact of New Technologies
Have students research the impact of self-driving cars on the insurance industry or solicit other examples from students that they are interested in researching. This helps students understand how STEM innovations can affect the economy and society.
Design and Build Financial Models
Have students create a budget for a fictional business. Some of your students are budding entrepreneurs, so helping them see the different aspects of how to run a successful business only helps them get ahead. “Running a business” also helps students develop and further refine their problem-solving and critical thinking skills.
Participate in Financial Simulations
Have students play a game where they manage a virtual business. “Running a business” helps students learn about the risks and rewards of investing and entrepreneurship, building a business and being a smart consumer as well.
Tieing financial literacy to STEM education is a great way to make both subjects more engaging and relevant for your students. It’s also a great way to help them develop the skills they need to succeed in today’s economy.
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Lane specializes in STEM curriculum design and professional development for K-12 stakeholders and enjoys making teachers’ lives easier through innovative, standards-based STEM lessons.