Walt Bond joked about showing his age to Carlisle High School juniors taking the Financial Literacy course.
“I use the term ‘Keeping up with the Joneses’ and they look at me like I’m crazy,” he told school board members earlier this month. “They know the concept. They just don’t know that term for it.”
As the lead instructor of what is now a graduation requirement, Bond gave a progress report on how the curriculum of the new course developed during its pilot year of 2022-23 through the first semester of the current school year.
Board members last week approved the final version of the curriculum making Financial Literacy a permanent fixture in the course selection guide.
“I think about all the opportunities we’re providing our students so they can obtain a full education,” George Stroud said following the unanimous vote. “Our students are really going to benefit from this.”
“The students are receiving it well,” Bruce Clash said. “They’re enjoying the curriculum.”
In the past, the district offered financial literacy or personal finance instruction as an elective for students enrolled in the business academy or other programs offered by the high school’s Center for Careers and Technology. For years, it has been the priority of the board and administration to broaden that into a course for all students.
In late August 2022, board members approved Financial Literacy as a pilot course providing a basic overview on such topics as career exploration, budgeting, taxes, insurance, banking, credit and investing. Six months later, they made the course a graduation requirement starting with the current junior class.
From the start, each section of the course met for two 85-minute block periods every eight cycle days. For the student, this equates to about 22 class periods per semester.
“There’s a lot in those classes,” Bond said in early December. “Every lesson is packed and, to me, essential. I have seven different units of just a few days each. We try to hit the major points so they know better questions to ask in life.”
The first unit explores behavioral economics, how people interact with money. Topics define happiness, identity theft, common financial pitfalls and how marketing and social media influence financial decisions.
From there, the students learn how to use Excel to build a monthly budget based on their career interests, earning potential and where they want to live, Bond said. “They can make adjustments on what they are expecting at the end of the month and what reality shows.”
After budgeting, the course moves into a unit on the purpose and structure of taxes where students practice by filling out a 1040 tax form. Five class periods are spent on learning banking and credit with specific lessons on types of accounts, the purpose of credit scores, loans, buying vs. leasing/renting and paying for an education.
“We’re able to bring in guest speakers from AmeriChoice and Members First Credit Union,” Bond said. After banking and credit, the course turns to investing with lessons on retirement account options, types of investments and the elements that go into a financial plan, he said.
During the career planning unit, Bond guided students through goal setting, resume writing and cover letters. He also brought in school administrators to offer tips on job interviews. The last unit touches on types of insurance, identifying insurance needs and managing risk.
“It’s just fantastic,” said Anne Lauritzen, who chairs the board’s education committee. “It helps them to understand that this is their future life and this is the real world.”