Beyond Personal Finance: My Favorite Homeschool Personal Finance Curriculum
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Every time I share a photo of my favorite homeschool personal finance curriculum on Instagram, I always get a ton of questions. There really are not that many options on the market other than Dave Ramsey, so I understand why everyone is curious. I was curious about finding the best personal finance curriculum before I found this option.
I was introduced to this personal finance curriculum a few years ago through our homeschool co-op. One of the co-op planners had heard about a new curriculum that walked students through the first two years of adulthood, learning a new skill each week. I signed my oldest up immediately.
She had such a good experience that I decided to make it a high school graduation requirement for my homeschool. An understanding of personal finance is important.
Beyond Personal Finance: My Favorite Homeschool Personal Finance Curriculum
Let me get right to it. My favorite homeschool personal finance curriculum is Beyond Personal Finance.
There are a few reasons it is my favorite personal finance homeschool curriculum:
- It was created by an accountant with more than 25 years of experience
- The interactive lessons are engaging
- It covers a ton of material that I wish I had known before becoming an adult
- Students make choices that all impact their budget
- It makes students truly think about their goals and how to get there
- The lesson plans are easy for homeschool teachers and parents to follow
- It was created specifically for the 13 – 18 age range (There is now an option for younger kids)
- It is secular
There are three options for a Beyond Personal Finance class. They all follow a similar format but vary based on who is leading the course, online or in-person, and the price.
Live classes – Live classes taught by the curriculum creator are available a few times a year. They can be taken in person in the Raleigh area or via Zoom. They have a specific schedule to follow.
Self-paced classes – Self-paced classes are taught by the curriculum creator via recorded instructional videos. Students can do the work on their own schedule. All of the instructions are taken care of, but a parent might want to check in frequently and see if there are any questions.
Host your own class – This option works well for small groups such as homeschool co-ops. All of the videos, supplementary resources, a student workbook for each student, and lesson plans are provided to the teacher. The teacher just facilitates the course.
I chose the host your own class option for both of my kids. My daughter took the class in our homeschool co-op with another parent teaching. We wanted a small class option this year, so I am teaching the class for my son and a few friends.
Related Post: Interesting Homeschool Co-op Class Ideas
My experience is all based on the host your own class choice, but I assume that the other options are pretty similar.
Each lesson represents one year of adult life. It begins with the student imagining being approximately 22 years old. They have either just graduated with a Bachelor’s degree or have a little experience in the workforce. Every week, they learn about a new financial topic. There are 20 lessons in the entire course, so the curriculum ends with students pretending to be about 42.
I love this format because it gives the students real-world lessons without the real-world financial mistakes.
The course material topics in this homeschool personal finance course include:
- Colleges and careers
- Budgeting
- Car purchase
- Apartment rental
- Credit cards
- Interest
- Paychecks
- House Purchase
- Insurance
- Charitable Giving
- Investments
- Business basics
- Reconciliations
- Income Tax
- Retirement
There are also a few review lessons to make sure the students understand and remember previous content.
The lessons all pretty much follow the same general format.
First, students watch the video lessons where the curriculum creator spends some time explaining a personal finance concept. Students follow along on their workbook pages. Sometimes there are places to fill in the blank or math problems to solve while the video is paused.
The curriculum creator tells about her own financial experiences as case studies, which helps keep interest levels high.
Next, we have a discussion about the material we just learned. Sometimes I am answering questions, and other times we are doing more research about the topic.
For example, after we watched the lesson on apartment rentals, we looked at various apartment complexes in our community. We compared amenities and floor plans.
Then we do the supplemental activities. Most weeks include a supplemental activity such as a plot twist or baby game. The teacher’s lesson overview will tell you which weeks to do each activity.
Plot twists are financial curveballs that all adults will find relatable. It is impossible to plan for every financial challenge. Sometimes things happen that can not be expected – an accident, a broken appliance, car problems, etc. Plot twists expose students to that unfortunate reality.
They randomly choose a plot twist from the weekly plan and need to make sure they can cover it with their savings account balances. This helps young adults understand the importance of saving. Lately, I have been sharing my financial plot twists because they are definitely not just a once-a-year event in real life.
The baby game determines how many kids they have. Kids are expensive! Most weeks, the students roll a die, and the number rolled determines whether they have a baby that week. The baby game procedure is laid out in the teacher’s lesson overview, too.
This always seems to be the part of the lesson where kids object. They plan to have a certain number of kids and don’t like to hear that the plan might not be what actually happens. Real life doesn’t always go according to plan. High schoolers are old enough to understand that unexpected pregnancy and trouble conceiving are both things that can happen in the real world (although those phrases are not used in the course).
I always remind the students that this is just a budgeting exercise to help prepare them for the expenses related to parenting. They still get to make their own choices about family size as adults.
Finally, we reach the budgeting portion of the class. Every week, the students complete a budget that simulates one year of expenses. It includes things like their income, housing, utilities, student loans, insurance, etc.
The students need to make enough money to cover all of their expenses. If they can not balance the budget, then they need to pick up hours at a part-time job. That is real life.
All of these components work together to teach students how to manage their financial future.
Frequently Asked Questions About Homeschool Personal Finance
Does personal finance count as a math class?
No. Personal finance is a high school elective that is a combination of math, social studies, and an economics course. It does not count as any of those topics individually.
Technically, if you live in a state with relaxed homeschool laws, you can count it however you want. However, colleges will count it as an elective on a transcript, and it will not count towards their minimum required number of math courses.
Is personal finance a full credit course?
Personal finance is typically a half-credit course. You can add extra personal finance reading assignments, movies, and discussions to bump it up to a full credit if you have the time and interest.
Does a personal finance curriculum teach everything a student needs to know about money?
No, there is no homeschool personal finance curriculum that could possibly teach everything about money. Parents should expect to help guide their teens through life experiences such as setting up a checking account, bargain shopping, and paying bills on time.
I like to show my teens our real utility bills and health care explanation of benefits so they learn to read and understand them.
At what age should I teach personal finance?
I would not use a personal finance curriculum before 7th or 8th grade. Adult problems such as choosing medical insurance, budgeting for retirement, and affording childcare are too abstract and complex for a younger grade level. Of course, you can include kids of all ages in general discussions about these topics as you go about living your life.
The Beyond Personal Finance curriculum is intended for high school students. I allowed my son to take it in 8th grade because he has strong math skills and a very intense interest in money. He even chose to learn about the history of money for 8th-grade history. He is considering a career in finance one day, so it felt right to let him take this high school class now.
Does Beyond Personal Finance have a middle school edition?
Yes! The Before Personal Finance Tween edition was created for 8-12 year olds. In this version, tweens will learn about saving, spending, investing, and borrowing with scenarios that they can understand.
Are personal finance classes worth it?
Absolutely! These classes help students understand money management without making a ton of costly learning mistakes. Students need a chance to develop practical money skills before they are adults.
Are there any virtual stock market games?
Yes, there are online stock games available, although none are associated with this particular homeschool personal finance curriculum. I have not personally used any of these choices and can not endorse them, but options include:
I recommend checking them out to choose the best virtual stock market game for your needs.
Are there any national standards for personal finance?
The Council for Economic Education team of experts has a list of suggested national standards for personal finance. A homeschool personal finance curriculum is not required to follow these standards, but this course does seem to cover their six main topics:
- Earning income
- Spending
- Saving
- Investing
- Managing credit
- Managing risk.
If you are looking for a personal finance course, I definitely recommend checking out Beyond Personal Finance. It is a comprehensive course that covers the main topics of personal finance.
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