Connisha
Learning money management concepts at an early age serves as a foundation for a sound financial future. Educator Connisha Bogard is dedicated to laying down this foundation for her third and fourth graders. For the past three years, she has been teaching financial literacy at Lucy Elementary in Millington, Tennessee.
Though such young students are far from managing their own finances, they are surprisingly adept at grasping the concepts. "They get really excited," says Connisha, who has reached approximately 140 students as she continues to develop her program. "They don't realize the true value of this education yet, but they understand the concept of having to earn something. Money doesn't just grow on trees." Connisha's students learn about saving, budgeting, investing and entrepreneurship.
The majority of Connisha's students come from low economic backgrounds, explains Connisha, making financial literacy education even more important. "I believe that the study of finances at the elementary level will improve their chances of escaping poverty," she explains. "Once students connect earning and spending, they can understand the difference between needs and wants. Knowing this difference will influence their financial choices. Knowledge is power."
It's not difficult for Connisha to get her students engaged in the subject matter. "My students already love money," she says. "They want to know as much as they can about it." Her goal is for her students to retain the information they're taught and that they will find it useful in the future. Tailoring the material to her current group of students who are more career-focused helps engage them in learning about money management. "They want to be athletes and entertainers. But they don't yet understand the educational background they will need to achieve those goals." To help these students have a better chance at realizing their dreams, Connisha will focus on saving for college and budgeting according to salary.
One of her most popular class activities relates to entrepreneurship. Students create an imaginary business such as a clothing boutique, jewelry store or recycling center. They discuss logos, advertising, the concept of supply and demand and the finances involved in creating a new business. One student returned and said she is using the lessons learned during this project to sell her handmade jewelry.
Connisha plans to implement a new lesson in class near the end of school prior the summer break. As a reward for good behavior and completion of weekly assignments, students will earn fake money. Conversely, loss of money will serve as a consequence for poor behavior. Students will be responsible for checking and balancing their weekly earnings and deductions. "This will help bring the concepts to life in a way they can really understand," says Connisha.
Connisha practices good finance in her own life by living within her budget. "I try not to live beyond what I'm bringing in. I make wise choices and don't spend frivolously." Though she treats herself occasionally, it's not an everyday occurrence. She also makes sure to have a nest egg available if needed.
Practical Money Skills would like to commend Connisha Bogard for her ongoing efforts and commitment to financial literacy at Lucy Elementary in Millington, Tennessee.
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