On April 28, Accounting majors and Education majors partnered to participate in Banking on Our Future.
This program teaches financial literacy to second and third grade students at the KIPP Academy in Baltimore. This opportunity was a learning experience for everyone involved. Education majors learned about how to manage their finances while accounting majors learned to plan and implement instructional activities from education majors.
Diamond Davis, Iyana Hunter, Holly Casadevall, Lyndsay Maltese, Elli Bender, Jessica Steinbacher, Rebecca Weisman
KIPP students learned about coins and money, needs and wants, budgeting, and writing checks. Stevenson students were surprised at how much the elementary students know about money. Whether they earn an allowance, receive birthday money, or go with their families to the bank, the students already have a good understanding of what money is and represents. They were excited when they heard words they knew like ATM and checks. A majority of the students gave examples of something their parents had said about budgets as well as other financial terms they have heard at home.
Learning about budgeting is so important to these children’s future. Children knew that money buys the toys and gadgets they want, like an Xbox. However, they did not realize how to manage your money for necessities like food, water, and shelter and how those must go into your budget first before the things you want. Students learned about sources of income and how that influences the amount you have available for expenses. By learning about finances and budgeting, the students gained a better understanding of money, what their family’s money goes to, and how to be responsible with their own money.
All the Stevenson students benefitted from collaborating with students of a different major and the two groups were able to bond through their involvement in the event.
(Submitted by Jessica Steinbacher)