5 Financial Literacy Activities for High School Students

Financial Literacy Games for High School Students

Even high school students love games, and what better way to engage your students in learning financial literacy than through games? Financial education is becoming a priority in many high schools, and finding quality activities can be challenging. Here are a few educational games that will help you plan your class. 

Whether you are teaching a personal finance course or just looking for lesson plans during Financial Literacy Month, your students will love the following activities.

1- Free Financial Literacy Bingo

This free online game is an easy-to-assign activity that will have your students asking to play more than once. You will print the sheet with all the terms and definitions and have students fill in the blank BINGO page with the terms they want to use. You can make this reusable by using dry-erase sleeves and dry-erase markers. This will allow you to have your students play more than once without having to print a ton of pages.

Terms include vocabulary covering credit cards, budgeting, student loans, credit scores, salaries, identity theft, mortgages, rent, and more. It is a great game for middle school as well. These money management games can be used for sub plans, or as a review of important material and can be a great addition to your high school curriculum.

2- Financial Knowledge Bell Ringer Journal

Starting class each day can be tricky with high schoolers because they usually want to talk with their friends and take their time to get started. A financial literacy bell ringer journal is a great way to get your students thinking about financial topics and practical money skills before you even begin teaching. If you have them already printed in binders, one student can hand them out to everyone, or they can grab them as they enter the classroom. You can also assign the Google version of these if your students have 1:1 laptops. We usually grade our financial literacy bell ringer journals about once a week with a quick score of 5 out of 5 based on completion and effort. 

Why use bell ringer journals? 

• They structure your classroom
• They spark discussion about life skills
• They give students a classwork grade
• They help with classroom management
• They make good study tools for assessments

​These personal finance bell ringer journals include topics such as 

• budgeting
• electronic banking
• check writing
• credit card education
• wants vs. needs
• cool job facts
• wages vs. salary
• online banking and payment apps
• history of US money
• gross and net income
• paycheck understanding
• and more!

3- Free Financial Literacy Game

This free classic board game on check writing can help your students understand real-world financial decisions such as balancing their checkbook, writing checks, and understanding the parts of a check. As a free resource, you can use this to review essential materials in your financial literacy course. Students answer personal finance questions, and their group checks their answers to see if they can move to the next space on the game board.

Once you have the game materials printed, students can work on this independently in their groups. You can also use the dry-erase sleeves for these personal finance games to replay the game a few times if students are engaged. This is great for middle school as well. Check out our blog post 5 Financial Literacy Worksheets for Middle School for more ideas.

4- Personal Finance Digital Escape Room

This interactive game to get students thinking about financial goals is a great break for high school teachers because they are self-paced and self-correcting! The financial literacy digital escape room is assigned in Google, students will click on different clues in a Google Form to be able to move to the next. Each link will take them to a clue in a series of Google slides. Topics include financial planning, vocabulary, the difference between a checking and a savings account, financial scenarios, and other essential personal finance topics.

Teaching an often dry topic in a fun way will help your students learn without realizing it! These make great sub plans or lesson plans for a day when you need to do some housekeeping in your classroom. 

5- Tax Filing Activity​

Have you ever started working on your taxes and wondered why you never learned about this in school? I saw a funny meme that said, “I am so glad I learned about parallelograms instead of taxes; it comes in handy during Parallelogram season.” It may not seem exciting now, but teaching about paying taxes will be a lifelong tool your students will appreciate someday! Have a tax filing workshop and teach students how to file a simple tax return. You can use online simulators or fillable PDF forms to show students the basics of tax deductions, tax credits, and how to calculate their taxes.

Preparation:

• Materials Needed: Copies of the latest tax forms (like the 1040 form in the United States) or access to online tax filing software simulations, instructional guides, and calculators.
• Guest Speakers: Optionally, invite a tax professional or accountant to speak about the tax filing process and offer expert insights.
• Pre-Workshop Assignment: Ask students to research the basic concepts of gross income, taxable income, deductions, and credits to come prepared with questions.

How to structure the workshop:

1. Introduction to Tax Basics: Start with a presentation that covers why we pay taxes, the different types of taxes (federal, state, local), and an overview of the tax filing process. Explain key concepts like taxable income, deductions, tax credits, and how to determine filing status.
2. Filling Out a Tax Return: Walk students through completing a basic tax return. This can be done using a simple case study that provides students with a hypothetical financial scenario, including income from a job, possible deductions (like educational expenses), and eligibility for any tax credits. Show them how to navigate a tax form or software, line by line, using this information.
3. Interactive Activity: Divide the class into small groups and give each group a different financial scenario. Each group works together to complete a tax return based on their given scenario. This activity encourages collaboration and problem-solving as students apply what they’ve learned.
4. Review and Discuss: Conclude the workshop by reviewing common mistakes to avoid when filing taxes, the importance of filing taxes on time, and how to submit a tax return (electronically or by mail). Discuss the consequences of not filing taxes or filing incorrectly.
5. Resources and Support: Provide students with a list of resources for tax help, including websites, hotlines, community programs, and how to use IRS tools and guides. Encourage them to seek assistance if they’re unsure when filing their own taxes in the future.

If you are looking for a ready-made workbook for your students, this Financial Literacy Workbook on Amazon includes a daily question about personal finance and budgeting. This is a great book for homeschooling personal finance for your children at home or your middle school or high school students, depending on their grade level and knowledge of personal finance. I gave it to my senior in high school and she said that she wished she learned the information in school!

Check out more financial literacy for high school activities in this website and others. These have free online activities that teach money management skills and more for financial responsibility. Everfi has a paid financial literacy curriculum if your school district is willing to purchase it. Thankfully, there is more and more personal finance resources online which can really help with your planning of personal finance courses. 

Teaching financial literacy to high school students is not just an educational goal; it’s an essential investment in their future. By giving young people the knowledge and skills to manage personal finances effectively, we empower them to make informed decisions that will benefit them throughout their lives. These activities help to build a strong foundation for students in an interactive way. By using fun games and activities, we can help students with their future financial well-being and to understand key skills that many adults struggle with. 

Financial literacy helps students understand the value of saving, the impact of debt, and the importance of investing, setting them on a path to financial stability and success. As they transition into adulthood, this foundation will enable them to navigate the complexities of the financial world with confidence and competence. Ultimately, by prioritizing financial literacy education, we are helping to create a generation of savvy consumers, responsible citizens, and innovative leaders prepared to face tomorrow’s economic challenges. 

Reasons to Teach Financial Literacy to High School Students

1. Early Habits Formation: High school is a formative period where students establish their independence and personal habits, including those related to money management. Teaching personal finance early helps inculcate healthy financial habits that can last a lifetime, such as saving regularly, budgeting effectively, and understanding the need for financial planning.
2. Prevention of Debt: With the rising cost of higher education and easy credit availability, young adults are increasingly vulnerable to accruing significant debt. Personal finance education can teach students about the long-term impact of debt, how to use credit wisely, and the importance of paying off debt quickly to avoid high interest payments.
3. Empowerment through Financial Independence: Knowledge of personal finance empowers students to make independent financial decisions without relying heavily on others. This independence fosters self-confidence and a sense of responsibility, traits that are beneficial in all aspects of life.
4. Critical Thinking and Decision Making: Personal finance education requires students to analyze situations, consider various outcomes, and make informed decisions. These critical thinking skills are transferable to many other areas of life, including career choices, educational paths, and personal relationships.
5. Preparation for Real-world Challenges: The modern economy is fraught with challenges, from fluctuating markets to uncertain job security. By teaching personal finance, schools prepare students to survive these challenges and thrive by planning for emergencies, investing wisely, and creating multiple income streams.
6. Contribution to a Stronger Economy: Financially literate individuals are likelier to contribute to a stable and robust economy. They are better equipped to save, invest, and spend wisely, fueling economic growth and stability. Their understanding of the market and economy can also make them more conscientious consumers and investors.
7. Reduction of Financial Anxiety: Financial problems are a common source of stress and anxiety. By providing students with the knowledge and tools to manage their finances effectively, we can help reduce financial anxiety and improve their overall well-being.
8. Adaptability to Financial Innovations: The financial world constantly evolves, with new technologies and financial instruments emerging regularly. A solid foundation in personal finance can help students adapt to these changes more easily, from understanding digital currencies to using new investment platforms.

​Incorporating personal finance education into the high school curriculum is not just an academic exercise; it’s a necessary step toward preparing students for the financial realities of the 21st century. It equips them with the knowledge and skills needed to confidently navigate life’s economic waters, ensuring they can face the future with optimism and preparedness.