B2 – Upper Intermediate
Financial literacy is defined by Investopedia as the ability to understand and use various financial skills, including personal financial management, budgeting, and investing. This form of literacy is not highlighted in many societies around the globe, or maybe because of its diminished importance, many of us are not as concerned about it.
We frequently hear people lamenting the lack of financial education they receive, or more precisely, the lack of instruction or exposure to budgeting techniques, which they believe has contributed to the financial instability that the majority of Americans currently experience—or perhaps that of the global populace as a whole.
To find out more about why financial literacy instruction in the US is so bad, watch the video.
Vocabulary Questions:
- What is the meaning of “driving force“? “And that lack of literacy is one driving force behind the financial instability a lot of American face.”Give two (2) synonyms or similar expressions and use ‘driving force’ in your own sentence.
- Do you know what “to take a crack at something” means? “Your history teacher might have taken a crack at teaching you about credit card debt.” Construct your own sentence using this phrase.
- What is the meaning of “trickle up effect”?“Financial education has a trickle up effect on students’ families and even the classes’ teachers.” Use it in your own sentence.
Discussion Questions:
- Should financial literacy be a required subject in schools?
- At what age should students start learning about money management?
- What are the most important financial skills students should learn?
- How can schools make financial literacy lessons more practical and relatable?
- Can financial education help reduce income inequality?