Children begin forming ideas and beliefs about money long before they can even count. Even in kindergarten, children notice advertisements, make choices about what they want, and observe how adults around them spend and save. Because of this, the elementary grades are an ideal time to build on these early experiences and introduce the basic concepts that will impact how students manage money as they grow. 

Although most states now require some form of financial literacy instruction in high school, whether through a standalone course or integrated into other classes, waiting until then misses an important opportunity. Understanding basic financial concepts including saving, spending, investing, and borrowing can help students build financially responsible routines and make informed financial decisions throughout their lives. Introducing these concepts in the elementary grades gives students time to build foundational knowledge, practice making choices, and develop the skills they will need as their financial responsibilities evolve and grow. 

‍Building the Foundation 

While most elementary math programs touch on currency values, they can sometimes lack the depth that is necessary to support students in building foundational financial literacy skills. When financial vocabulary and responsible money management are taught alongside core academic standards, students are better equipped to make smart choices about money now, laying the groundwork for thoughtful financial decision-making in the future.

Students in grades K-2 are ready to practice counting and sorting money, differentiate between needs and wants, understand the difference between saving versus spending, and begin to set simple money goals. As they progress into grades 3-5, students can build on those foundational concepts by prioritizing needs and wants, evaluating financial choices, setting short- and long-term goals, creating budgets, understanding the difference between credit and debit, exploring investments, and making connections between jobs and earnings. Introducing and reinforcing these concepts throughout the elementary grades helps students build the knowledge and skills to be responsible money managers.

Integrating Financial Literacy 

Simple additions to existing units and lessons can have a meaningful impact on students’ understanding about money. Look for opportunities to connect money concepts to what students are already learning and give them opportunities to apply those concepts in familiar, grade-appropriate contexts. Whether you teach elementary students or support those working in the elementary grades, use the tips and resources outlined below to make financial learning accessible to young students. 

Literacy: Use read-alouds or independent reading to spark conversations about money. Pause to ask how much money characters might need to bring on a trip or how they might decide what they can afford to buy. Have students identify financial decisions characters make, consider alternative choices, and evaluate how they might handle a similar situation. Even when books don’t explicitly address money, they provide a shared context and starting point for financial literacy discussions.

Math: Incorporate money into everyday math practice through story problems, budgeting activities, and opportunities to practice calculating costs and change. Students might plan a classroom celebration with a set budget or determine how much change they would receive after purchasing an item. Students in the upper elementary grades can build on these skills by calculating sales tax, comparing prices, and determining the best value. Story problems can also be used to introduce and reinforce finance-specific vocabulary such as budget, savings, expenses, income, and spending. 

Social Studies: Connect financial literacy to students’ understanding of communities. Explore the role of banks, how people earn and spend money, and how businesses contribute to the local economy. Discuss the difference between needs and wants and how individuals and families make spending decisions. Consider inviting a local banker to speak to the class or visiting a bank to learn what services a bank provides.

Classroom Routines: Establish a money system within the classroom, grade-level, or entire school building that gives students opportunities to practice earning, saving, and spending. Students might earn a classroom or school currency for responsible behavior, save toward a classroom privilege or experience, or choose how to spend their earnings at a school store. Money systems can be created and sustained across a school year or as a short-term project, providing low-risk practice for students making choices about how to spend and save their money.  

Project-Based Learning: Bring real-world financial concepts into the classroom that require students to make and explain financial decisions. Set up a classroom store where students take turns buying and selling items, plan a Market Day where students create, price, advertise, and sell products, or organize a classroom event with a set budget. These activities offer students opportunities to practice calculating costs, comparing options, and making thoughtful financial choices.

Financial Literacy Resources

For additional lesson plans and activities specific to financial literacy learning, check out the resources below. These lessons and resources may be especially helpful for counselors working to integrate financial literacy instruction into their classroom lessons. 

Consumer Financial Protection Bureau Building Blocks: The Consumer Financial Protection Bureau has created a series of Money Monster stories, paired with reading guides, designed to get students thinking about how to manage money. They also offer posters, a financial literacy assessment, and other resources designed to support elementary financial literacy learning. 

FDIC Money Smart for Young People: Designed for pre-kindergarten through twelfth grade educators, this comprehensive set of curricula offers financial literacy lessons that can be taught independently or as part of a series.  

FitMoney: FitMoney offers a series of classroom-based courses for students in kindergarten through twelfth grade along with discussion guides for families. They have recently launched $uperSquad, a game-based curriculum designed for students in kindergarten through sixth grade to explore financial concepts and practice financial decision-making. 

Sesame Workshop: As part of a partnership with PNC, Sesame Workshop has created a series of bilingual videos, printable activities, and teacher guides. The For Me, For You, For Later set encourages children in kindergarten through second grade to learn about spending, sharing, and saving. 

A Shared Responsibility 

Financial literacy is an essential component of helping students prepare for their futures. Developing the knowledge and skills needed to make informed financial decisions  requires more than a single class, a single educator, or a single experience. Instead, financial literacy instruction requires a shared effort among all who work with students, starting in the elementary grades. When financial literacy is not explicitly addressed in state or district curricula, educators must work across grade levels and subject areas to weave financial literacy concepts into existing instruction. 

The elementary grades offer a valuable window for introducing these concepts through low-risk learning experiences, while students are still developing their values and priorities and establishing habits that will shape their financial decisions for years to come.