29 Financial Literacy Topics to Teach Your Students

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More than just a buzzword, and definitely more than just a “nice-to-have,” financial literacy topics should be a cornerstone of any teacher’s curriculum.

According to the 2021 FINRA National Financial Capability Study, Americans with higher levels of financial literacy are more likely to make better decisions about saving, spending, and planning for the future. A financial foundation like this doesn’t happen by accident. It starts with education. 

If you’re teaching students about finances, you’re setting them up for success. Here’s a breakdown of 29 key financial literacy topics that you should prioritize in your curriculum (and why they matter). 

What is Financial Literacy?

Financial literacy means understanding how to effectively manage money. It includes skills like budgeting, saving, investing, and handling credit. These practical skills form the bedrock of financial well-being. 

As mentioned earlier, people with higher financial literacy were more likely to live within their means, save for emergencies, and invest in their future. These are habits we can cultivate in the next generation by focusing on these critical areas of education.

29 Financial Literacy Topics to Teach Your Students

With the benefits and mind, here are a few financial literacy topics you should consider teaching your students. 

1. Building a Budget

The ability to budget is arguably one of the most important financial skills. After all, today’s digital payment systems make spending all too easy. Without a plan in place, expenses can spiral fast. 

Michelle Prohaska of NYMBUS said in an interview with Forbes, “With the ease of use of cards and other forms of electronic payment, the conscious act of handing over physical cash to pay for something isn’t felt in the same way it used to be. It’s more important than ever to teach students how to use debt wisely, save for an emergency fund and balance necessary expenses with wants in order to best set them up for success.”

You should teach students how to categorize expenses into “needs” and “wants,” track their spending, and set goals for saving. Show them how to create realistic budgets that include essentials like housing, transportation, and food, while also accounting for savings. 

2. Earning Money 

Understanding how money flows in and out is an essential skill. Teach your students to grasp the value of their time and how hourly wages, salaries, or profit-sharing from entrepreneurial pursuits translate into income. 

Help them explore concepts like net income (after taxes and deductions), freelance work, and side gigs. Raising awareness about different income streams can help them unlock multiple opportunities later in life. 

3. Building, Maintaining, and Monitoring Credit

Most adults learn about credit the hard way, but your students don’t have to. Educate them on how credit works, why it matters, and how to build and maintain a healthy credit score. 

Cover the basics of credit cards, loans, and interest rates. Explain the importance of paying bills on time and keeping credit utilization low. Remember, having a solid credit history means cheaper loans and easier approvals down the line. 

4. Saving Money 

Saving money might sound simple, but many people struggle to do it consistently. Teach students why a savings fund is crucial and how to create one that covers at least three months of living expenses. 

Introduce savings strategies like “pay yourself first,” setting up automatic transfers into a savings account, and saving for specific goals. These habits can build a lifetime of financial security. 

5. Investing Money

Students should start thinking about long-term goals, and investing is a key part of building wealth. The earlier they start, the more they benefit from compound growth. 

Teach basic concepts like stocks, bonds, mutual funds, and index funds. Also, explain terms like risk, diversification, and time horizon. Show them how investing differs from saving and why both are necessary for financial health. 

6. Handling Debt 

Debt can either be a useful tool or a dangerous trap. Teach students how to distinguish between “good debt” (like a mortgage or student loans) and “bad debt” (like revolving credit card balances). 

Show your students practical strategies for managing debt, such as making more than the minimum payments, paying on time, and avoiding high-interest loans. Help them understand how poor debt management can lead to financial hardship.

7. Types of Banks

You can’t talk about money without first covering where to keep it. Introduce students to the different types of banks. Commercial banks handle most personal and business accounts. Credit unions offer members lower fees but often require a membership. 

There are also investment banks for big-business deals, but unless your students are aspiring investment gurus, that might be advanced territory. Lay it out clearly so students know the options when they think “bank.” 

8. Types of Bank Accounts

Not all accounts are created equal. A checking account lets you deposit and spend freely, while a savings account earns interest. Explain the key differences between both, and don’t forget to touch on specialized accounts like Certificates of Deposit, high-yield savings accounts, or even youth accounts. Students should have clarity on which one to pick, depending on their needs.  

9. Financial Planning

When, why, and how should your students create a budget? That’s financial planning in a nutshell, but that’s not all there is to it.

Teach them how to categorize expenses (rent, food, entertainment) and how to include savings as part of their plan. Time frames matter, too. Short-term goals, like saving for new shoes, are different from long-term goals like funding college tuition. 

10. Setting Financial Goals

Want to inspire action? Ask your students to set financial goals that are specific, measurable, and achievable. Whether it’s saving $500 in six months or allocating $50 from each paycheck toward a future trip, they’ll feel empowered by their progress. Setting realistic, actionable goals reduces financial stress in the long run.  

11. Insurance 

Some students might already be familiar with car insurance because their parents made it a condition for driving. 

But go beyond that. Health, life, renter’s, and even pet insurance all have a place in a holistic discussion. Highlight the importance of insurance as a safety net, explaining how a small premium now can save them from future hefty bills.  

12. Financial Risk Management

No, risk management isn’t just for billion-dollar corporations. On a personal level, it includes diversifying investments (even if the portfolio only consists of a small savings account). 

Teach students to identify financial risks and weigh them against potential rewards. That way, when they’re faced with opportunities like investing or taking on debt, they’ll be equipped to make well-thought-out choices. 

13. Consumer Skills

Teach them that not all good deals are good deals. Learning how to compare prices, read reviews, and spot sales adds efficiency to spending. Show them websites and apps that simplify price comparisons or provide discount codes. This part is both practical and immediately usable, which your students will appreciate.  

14. Loans 

While loans are often necessary in life, it’s vital that your students understand how they work before signing up for one. 

Explain the different kinds, from student loans to personal loans or mortgages. Discuss key terms like interest rates, repayment plans, and, most importantly, why borrowing more than you can repay is a financial nightmare waiting to happen.  

15. Charitable Giving 

Sometimes, financial literacy means looking outward. Philanthropy not only helps others but also fosters a strong sense of community. Introduce the concept of budgeting for charitable giving, even if it’s just a small amount, and discuss tax deductions tied to generous donations. 

16. The Role of Government in Finance

Taxes and regulations are unavoidable, so every financially literate person should understand the government’s role in the financial system. Discuss subsidies, interest rate policies, and how government decisions can impact personal finances. This is particularly eye-opening when it’s tied to news about inflation or interest rate changes.  

17. Paying and Filing Taxes

If you’ve been avoiding teaching taxes, it’s time to change that. 

Break it down. What are income taxes, and how are they different from sales taxes? Explain deductions, brackets, and tax credits to help demystify what many consider confusing. Walk them through a simple tax form or introduce easy tax-filing software they can use later in life.  

18. Building an Emergency Fund

If there’s one habit that can save your students from financial instability, it’s creating an emergency fund. This should cover at least three to six months of living expenses, but starting small is okay. 

The key is to convey its importance—not for planned purchases, but for the unexpected ones that disrupt life (think medical bills or car repairs).  

19. Credit vs. Debit Cards

No, they are not the same. Teach the benefits and pitfalls of both. With a debit card, you’re spending money you already have. With credit, you’re borrowing money that you’ll need to pay back—with interest if you’re late. 

Highlight how credit cards can help build a strong credit history, but only if they’re used responsibly. Bad habits here can snowball into long-term financial damage, so teaching caution is key.  

20. Planning for Retirement 

It’s never too early to talk about retirement. Explain how compound interest works to grow savings over time, why 401(k)s and IRAs are essential tools, and the importance of starting contributions early. 

21. APR

APR, or annual percentage rate, is something students will encounter right out of the gate when they apply for credit cards or loans. Teach them how APR impacts the total cost of borrowing money. A quick walk-through of interest rates, fees, and payment terms can save them thousands in unnecessary costs over their lifetime.  

22. Applying for Jobs 

Landing a job is at the heart of financial stability. Help students polish their resumes, prepare for interviews, and understand how to weigh compensation packages (hint: benefits matter!). These skills are critical for kickstarting their financial independence.  

23. Real Estate Basics

Buying or renting property might feel overwhelming for students, but it’s one of the most significant financial decisions they’ll face. Give them a crash course in real estate basics, from understanding mortgages to weighing the costs of buying versus renting.  

24. Collectibles

Teach students about collectibles like sneakers, cards, or vintage items. Explain how certain items may appreciate in value, and what factors influence their resale prices. While it might sound niche, understanding supply, demand, and market trends is incredibly applicable to wider financial contexts.  

25. Online Financial Management 

Apps aren’t just for social media or gaming anymore. Show students tools for budgeting, tracking expenses, and investing. Apps like Mint, PocketGuard, or Acorns can make managing money straightforward and engaging, while at the same time catering to their tech-savvy nature. 

26. Warranties 

Warranties often confuse consumers. Educate students about the benefits and limitations of warranties, helping them decide when they’re worth the investment. Knowing their rights as consumers instills confidence and saves money.  

27. College Financing 

For students planning to attend college, understanding financial aid, scholarships, loans, and grants is crucial. Walk them through FAFSA, explain loan repayment plans, and highlight scholarship search strategies. College financing can feel like a maze, but with guidance, they’ll leave with a plan instead of debt anxiety.  

28. The Lottery 

Sure, winning the lottery is enticing, but it’s also wildly unlikely. Teach students about the odds and why building savings and investments is a much smarter financial move than gambling.  

29. Net Wealth 

Net wealth isn’t just for the ultra-rich. It’s a simple formula anyone can use to gauge their financial health. Show students how to calculate net wealth by subtracting liabilities from assets, and explain why increasing their net wealth is a long-term financial goal worth pursuing. 

Final Thoughts

By tackling these financial topics, you’re setting students up with a foundation they’ll use for life. Want to make teaching financial literacy easier? The MoneySmart program by Stanfield offers interactive lessons, practical tools, and real-world applications to get the job done. 

Check out the MoneySmart program and see how you can transform your students into confident, financially savvy adults. And most importantly, be financially smart today by simplifying these essential lessons for your students (and perhaps, for yourself). 

The payoff is worth it!

FAQ

What are the 5 key principles of financial literacy?

The five key principles of financial literacy are typically thought of as earn, save and invest, spend wisely, borrow thoughtfully, and protect your money. 

What is taught in financial literacy?

Financial literacy covers budgeting, saving, investing, debt management, credit, taxes, retirement, and more, equipping individuals with the tools needed for sound financial decisions.  

How do I teach myself financial literacy?

Start with free resources like blogs, podcasts, and apps. For students, courses like MoneySmart by Stanfield are also great for interactive, guided learning. Practice the skills by creating a budget, saving small amounts, or exploring investment options.