Ideas for Financial Literacy Projects for High School

High school is an ideal time to teach financial literacy. High school students are on the cusp of either starting college or starting jobs. Because many will be living independently for the first time in their lives, financial literacy projects can help them role-play scenarios they are likely to encounter.

Centered on School

Few financial literacy projects relate to attending higher education institutions. One project could involve a simulation that weighs immediately going to work versus paying for a college education and likely earning a higher salary later. A similar project could be run for going to work after college versus attending graduate school to achieve professional certification.

Centered on Families

High school students can gain insight into what financial demands are present when trying to run a family. Students can pair up and pretend to run a household together. Their income must be budgeted against likely expenses, which include cars, mortgage payments, food and entertainment. Complications can be assigned to certain students, such as getting divorced, caring for an elderly parent or coping with an illness. Each of these scenarios will present new financial challenges that the students will need to deal with.

Planning for a Big Purchase

Since many high school students like to imagine themselves in various scenarios (such as dream jobs, dream cars and mansions), a good financial literacy project is to help them understand how much they need to finance their dream. Working backwards from a given scenario, the students will have to project what kind of job they need, the education they need for that job, and at what age they need to start investing to achieve their goals.