UT Extension: Money Week

Overview

Money Week – It is never too early to begin the process of developing financial management skills. Research has demonstrated that developing an awareness of spending and savings concepts early can lead to greater financial competence later in life. Money Week builds on this core understanding by providing financial education for limited-resource elementary school students. The education aligns with state standards for mathematics and National Jump$tart standards while also incorporating literacy as a key component of the program. Utilizing in-class instruction and read-aloud activities, Money Week covers essential financial education topics such as identifying money values, counting money, understanding wants and needs, using money, and managing money. An accompanying newsletter, sent home each day with the students, helps the entire family know the topics being covered while also highlighting easy to implement tips for saving money. Strong support from school staff and the local Extension office along with buy in from local banks and credit unions positions Money Week as an impactful program with potential for future replication. Since its launch in 2020, Money Week has been implemented in 34 schools reaching 3,590 students. Teachers reported: 91% of the students gained literacy skills, 89% of students learned to count currency, 98% learned to manage money using spend, save, share banks, 98% learned the difference between wants and needs, and 98% learned to better identify money values.