In today’s world of economic uncertainty, it is critical that our youth develops the basic financial skills needed to allow them to make sound financial decisions as they grow into adulthood. “Our future lies in our children’s hands and our children’s future lies in our hands.” That being said, the students of Mr. Moretti’s class are “minding their own BUSINESS.” Each week, Mr. Moretti and his students look forward to a special time called “Finance Fridays.” On this day, the kids learn everything from writing a basic check to distinguishing between the different types of income we earn as adults. Ask any student in Mr. Moretti’s class what the difference is between an asset and a liability, and he/she will clearly tell you that an asset puts money into your pocket, whereas a liability takes money out of your pocket. Our little “money makers” have come such a long way over the last two month
s,
which is when our financial literacy journey began. At the onset of this
journey, our little future economists weren’t even sure how to properly write
the date on a personal check. Now, they
clearly know the difference between earned income and passive income, a concept
that many older students and some adults are not even sure of. Each week I am
simply amazed at how much they can truly absorb. All that they need is the
exposure to these critical topics. One of the most exciting financial lessons we
had involved comparing and contrasting two different financial statements. We
worked up a side-by-side analysis of a typical employee’s financial statement
and we compared it to the financial statement of a business owner. The exciting
part was that the kids were able to recognize the major difference between the
two. Unbelievably, they saw that the major difference was in the way the two
different types were taxed. As an educator, it was so inspiring to me to see
that my students were absorbing these adult concepts. Currently, the kids are
learning about having their own businesses and how important it is to give back
in any way you can. This is all so very exciting and we all look forward to the
next few weeks to see what develops. We are already looking forward to the next
installment of the Cottage Lane Express.