Author: Tammy Lane • First Posted: Monday, October 13, 2008

Dillon Crow makes out a check to Papa John's in a practice exercise at Jessie Clark Middle School. (Photo: Tammy Lane)

Seventh-graders might not have much money to manage, but it’s never too early to start learning the basics about budgeting and banking. That’s the foundation of a new financial literacy curriculum that Junior Achievement of the Bluegrass will soon introduce in classrooms across Fayette County.

“It’s a good program for a good cause,” said Cecilia Shelton, a JA volunteer and branch manager for National City Bank.

Shelton is part of the pilot program at Jessie Clark Middle School; JA volunteers also are trying out the six-lesson unit in two classes at SCAPA at Bluegrass.

Friday morning at Jessie Clark, Shelton covered checking accounts – including how to write an $11.99 check to Papa John’s for pizza and how to keep up a check register. She also reviewed concepts such as needs vs. wants and monthly cash flow.

“Money comes in and money comes out, so we need to balance our budgets,” she reminded the kids.

When asked about their favorite part of the class so far, two students mentioned the lesson when they started their own company from scratch. “I didn’t realize all the hard work and techniques you had to do in a new business,” Justin Fowler said.

Justin, who gets an allowance at home, also said making charts of his spending habits was useful. “This class has helped me get organized,” he said.

Classmate Laura May, who “launched” her own bakery in the business exercise, agreed that the financial lessons are good for young teens. “When I get birthday money, I put half of it in the bank, and half of it I can spend,” she noted.

The districtwide financial literacy initiative grew out of the 2020 Vision project, which developed a blueprint for world-class schools in Fayette County. Financial literacy was one of the 2020 Vision focal points, and JA president Lynn Hudgins was in that work group. She said JA committed to this goal for FCPS kids, saying, “We will make this happen.”

Schools Superintendent Stu Silberman visited Jessie Clark on Friday to see the plan in action.

“Junior Achievement’s focus on financial literacy meets a major need for us,” he said, noting there are more than 2,000 seventh-graders across the district. “Seeing it begin to come to fruition is very exciting. It feels good to be able to find a way to meet that need.”

Shelton said she’s had great participation in class, noting students have particularly enjoyed monitoring the rise and fall of their stocks in an ongoing exercise. “So far, nobody’s a millionaire,” she added.

School board member Melissa Bacon, whose district includes Jessie Clark Middle, also stopped by the class. She was impressed with the kids’ interest in the stock market, especially given current events on Wall Street.

“The thing that was so neat were the real-life applications,” Bacon said afterward. “They got to see whether they made a profit or not.”

Sprinkling in well-known brands like Apple and Nike helps make the financial lessons relevant for the students.

“When the kids are excited and engaged, then they’re going to learn,” Silberman said.

JA will consider feedback from volunteers, teachers and students, and then tweak the curriculum before sending it out districtwide.

“We hope to start using it in the schools in early to mid-November,” said Ron Wigglesworth, senior program manager at JA and a former principal. “If you look at what’s happening in the world today, it couldn’t be more timely.”

The curriculum

The financial literacy lessons cover the basics, including terms like budget, expense and income; consumerism and decision-making, especially when advertising pressures are involved; and how to manage cash flow.

The six-lesson unit also touches on banking services, such as debit and credit cards, checking and savings accounts, and the importance of saving. Investments are also covered as the kids hear about stocks, bonds and mutual funds and how to plan for retirement.

The final session is about long-range financial goals, including college plans and career interests.

Bank manager Cecilia Shelton, a Junior Achievement volunteer, is teaching the unit to a class of seventh-graders at Jessie Clark Middle School.

“It’s a lot of information, but it all ties together well,” Shelton said.  “The main lesson is the longer you stay in school, hopefully the better your outcome will be.”

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