The Financial Crisis: A Teachable Moment

By Katie Ash — October 14, 2008 1 min read
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Back in September, Kevin wondered whether recent economic failures in the U.S. would provide an opportunity to raise discussions about the teaching of economic literacy. Since then, many other events have shaken up the economy in the U.S. and around the world, reinforcing the importance of teaching kids financial responsibility and economics.

This article in The Christian Science Monitor talks about how parents are using the recent economic downturn as a way to talk to their children about money. Just as adults are worried and nervous about what is going on, so are children, says the article, and talking to them about how to deal with the situation helps calm nerves as well as provides an educational opportunity to teach them about frugal living and the importance of saving and living within one’s means.

This is an excellent example of how real events can turn into lifelong lessons for kids. Like Kevin, I wonder if schools will seize this opportunity, as parents are now doing, to teach children about finance and economics—and how they can prevent such financial crises from happening in the future.

For more information about how the financial crisis is affecting schools, check out this story by my colleague Michelle Davis.

A version of this news article first appeared in the Motivation Matters blog.