Category Archives: Banking

Banking 101

David Castillo Dominici

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”   Henry Ford

Funny but sad at the same time.   And when Henry Ford said this, we weren’t hearing daily news about problems at a global level, making it even harder to grasp.   I think a financial education needs to start young and discovered that Vanguard has an excellent program aimed at teaching basic financial concepts called My Classroom Economy.  The curriculum covers kindergarten through 12th grade and teaches kids about budgeting, saving and resisting impulse buying.  Older students work with an investment simulator to track how their mix of assets grows (or not).

Vanguard’s program turns the class into a economic system where students earn school dollars for classroom jobs and can spend their dollars at the class store.  My Classroom Economy is free.  Share it with a teacher today!