Financial Literacy 101: Instruments of Money

What did Albert Einstein mean when he said ‘Compound interest is the 8th wonder of the world. He who understands it, earns it; he who doesn’t, pays it.’?

As physical cash is used more infrequently in our digital society and thus misunderstood by younger generations, students must learn and understand how money works, how money is taken away from income, and how to avoid getting on the wrong side of compounding interest.

This course will help students gain basic financial literacy that is not taught in schools. We will cover topics including:What are the instruments of money and how they are used?

  • How do banks work?
  • What is interest?
  • What are ATMs, debit cards, and credit cards and how do they work?
  • What are different forms of debt?
  • What are taxes that take money away from income?
  • How do you stay out of debt?

Students will join an interactive discussion on these topics and come away with a stronger understanding of how to position themselves for financial fitness and responsibility as they grow up to become young adults.

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