Preparing preservice elementary teachers to teach about financial literacy: Towards a broader conception

Abstract

This chapter describes a research project that compared the beginning and ending semester attitudes towards financial literacy of enrollees in four sections of a social studies methods course at a large public institution of higher learning in the Midwestern United States. Two of the sections (treatment) related financial literacy to the various social studies areas throughout the semester, interpreted financial literacy as a topic that related to social justice and required elements of social stewardship in practice. The other two sections learned the content conventionally, not focusing on financial literacy though providing attention to each of the main social studies themes. The research found that those who learned about financial literacy throughout the course expressed more confidence teaching about the subject, realized a stronger moral or social awareness with the topic, considered the topic as less controversial, and viewed children of younger ages as mature enough to discuss related social and moral issues. They also related financial literacy more to planning concerns and less with investments and money management. The results bring attention to the importance of both the need to teach preservice elementary teachers about financial literacy, and the importance of defining the nature of financial literacy that they learn.