Math Literacy=Financial Literacy
The intersection of STEM and financial literacy, social-emotional learning, and physical activity is at the heart of what we do. The principles of finance are grounded in a solid understanding of mathematics. Like mathematics, the path to financial literacy and success isn’t so much a lengthy one as it is a cumulative one. Every step of the journey from money management to paying taxes to trading stocks builds on previous financial fundamentals; in order to effectively manage money, students need to understand money’s worth, and in order to understand money’s worth, students need to understand basic mathematics, particularly multiplication. When students understand this fundamental concept and obtain math fact fluency, their self-confidence soars! More importantly, the potential for a “fixed” mindset towards financial literacy and math in general diminishes as they grow older and face higher level concepts!
Teachers are struggling to get students where they need to be in their math understanding. This is in part due to the pandemic and the two-year transition to virtual learning. This is also partly due to the majority of students having anxiety about learning math or finding it inaccessible in a traditional classroom setting. Although multiplication is typically taught in 3rd grade, the “COVID slide” has set students behind in their mastery of this concept; math teachers are currently witnessing a deep lack of fundamental knowledge from their students, particularly those who are socially and culturally marginalized.
If these students are to become financially literate, we need to first make sure that they are mathematically literate!
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