Inspiring Excellence
Winter 2024
Empowering our students—the value of personal finance education
Jan. 11, 2024
"I wish I had the opportunity to learn that in high school...” the most common response David Marques receives when he tells people that he teaches Personal Finance at Lake Stevens High School.
This is Marques’ 11th year teaching in Lake Stevens. He teaches five periods of Personal Finance, which is a Career and Technical Education elective. The course can also satisfy a third year of math for high school seniors, and provides qualifying students with five college credits.
From budgeting and saving to understanding credit and investments, the class covers a wide range of topics that are crucial for financial independence and responsibility.
“I believe in the importance of financial literacy,” said Marques. “The knowledge and skills students gain in this class are not just academic; they are tools for life. I use interactive and engaging scenarios to help students understand, retain and apply their knowledge.”
As part of the class, students are assigned a simulated life scenario—challenging them to create a detailed monthly budget across 15 to 20 different expense categories. The exercise not only fosters financial literacy, but also encourages critical thinking and planning skills.
To deepen their understanding of financial markets, students engage in an online investment simulator. This tool forms the basis of a class-wide competition, allowing students to apply investment strategies in a risk-free environment while learning the fundamentals of the stock market.
Students are also guided through the tax preparation process by completing a 1040 tax return. This hands-on approach covers various scenarios, including a teenager’s first tax return, a young adult’s filing, and a family’s complex tax situation.
Personal Finance students paired up and role played by presenting the benefits and considerations of two types of checking accounts from different financial institutions.
To further enrich the curriculum, Marques hosts guest speakers from key government agencies like the Occupational Safety and Health Administration (OSHA) and the Equal Employment Opportunity Commission (EEOC).
“These experts provide invaluable insights into worker and consumer rights and protections, offering students a broader perspective on economic and financial responsibilities in society,” explained Marques.
During a recent class, students started the period with an entry task where they answered the question “Give two reasons that an online checking account balance might not match up with your check register.” This led to a robust discussion about outstanding checks, peer-to-peer payments using tools such as Venmo, and accounting for the withdrawal of automatic payments.
Then, students transitioned to a role play activity where they had to justify reasons for keeping money in a bank or a credit union. This task was modeled after a DECA financial literacy project. DECA is an international organization dedicated to preparing high school students in marketing, finance, hospitality and management.
During the role play students had just 10 minutes to prepare their talking points, which they then presented to a partner. In the role play they reviewed two types of checking accounts from different financial institutions and explained the differences. They also explained how bank statements can be verified for accuracy. Following the role play the students provided peer feedback on key performance indicators and the overall presentation.
"The things I've learned in Personal Finance are going to help me with my money after high school, and will help me be smart about debt."
—Tanner Woll
“The things I’ve learned in Personal Finance are going to help me with my money after high school, and will help me be smart about debt,” said Tanner Woll, a senior who has also taken DECA classes. “I am interested in a career in the music industry, so it’s important that I learn how to safely save my money. This class is preparing me for my future.”
Financial literacy is not just about immediate benefits. It creates a foundation that prepares students for adult responsibilities, such as managing student loans, buying a home, or planning for retirement.
This class goes beyond traditional academics by focusing on real-world skills that prepare our students for the future.