Friday, February 21, 2020
“I couldn’t balance my checkbook,” admitted Joel Chrisler of his 20-something self. But his next thought was, “Everybody should be able to do this.”
He’s well on his way to making that a reality in Wisconsin. Not only did he learn how to balance his checkbook, he now teaches personal financial literacy (PFL) as a social studies teacher at Sauk Prairie High School. “I knew it was [a subject] I was going to love,” says Chrisler. “I’m going to be able to have an impact every single day.”
He has gone on to become a statewide advocate for PFL, serving as a co-chair of Wisconsin’s PFL Standards Writing Committee whose draft PFL standards are open for public comment now through February 28, 2020. In addition, the application for Wisconsin Financial Literacy Innovation Grants has just opened. Applications are due by April 15, 2020.
Wisconsin is known as a leader in establishing PFL standards, and the state is leading the way again with a strand of the draft standards called “Financial Mindset.” This strand includes the values, emotions, attitudes, behaviors, and external influences that lead to mental habits for thinking about and responding to any financial circumstances. It offers the “why,” where the other strands outline the “how”:
- Financial Mindset
- Education and Employment
- Money Management
- Saving and Investment
- Credit and Debt
- Risk Management and Insurance
For Chrisler, asking juniors and seniors to figure out their financial mindset at the beginning of the class sets the foundation for teaching and learning PFL. “I see them very concerned,” says Chrisler. Many of his students already have part-time jobs, checking accounts, and debit cards.
He has learned that even though an individual’s financial mindset is likely to be influenced by previous financial experiences, self-awareness can change negative influences. One student stayed after class to tell him that she had watched her parents struggle financially to make ends meet. “Now I have the tools to change my life,” she said.
Your students can get the tools to change their lives, too. The Financial Literacy Innovation grants offer up to $10,000 per school for projects in one of three categories:
- To implement an innovative, new, or existing program or activity to teach PFL
- To adopt a personal financial literacy graduation requirement
- To open a financial institution on school premises as a means to help youth learn financial literacy.
Grant applications are due April 15, 2020.