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Women’s History Month, Financial Literacy and Homeschooling in March, 2020 Thumbnail

Women’s History Month, Financial Literacy and Homeschooling in March, 2020

March marks a celebration of both Women’s History Month and Financial Literacy Month. As a financial advising firm majority-owned by women, this month should be right up our alley. March 2020, though, is like no other March most of us have ever experienced with incredible upheaval in people’s daily lives.

For many, schools are closed and parents are searching for tools and resources to help teach their children.  We decided to combine Women’s History Month, Financial Literacy, and the quest to find homeschooling resources.  We hope some of these materials can help parents as they navigate the coming days at home with their children.

  • Download and Print our Toy Money

We created a printable of toy money.  Please print as many copies as you like to help you play some financial games with your children. Our toy money can also be used for matching games, memory games, or creating your own flash cards with interesting facts about the pilots.

  • Notable Female Aviators in History

In honor of Women’s History Month we featured notable female aviators on our money, including:

1. Amelia Earheart, pictured on the Propel One

Amelia Mary Earhart (1897 – 1937) was an American aviation pioneer and author. Earhart was the first female aviator to fly solo across the Atlantic Ocean. She set many other records, wrote best-selling books about her flying experiences, and was instrumental in the formation of The Ninety-Nines, an organization for female pilots. Wikipedia

2. Bessie Coleman, pictured on the Propel Five

Bessie Coleman (1892 -1926) was an early American civil aviator. She was the first woman of African-American descent, and also the first of Native-American descent, to hold a pilot license. She earned her pilot license from the Fédération Aéronautique Internationale on June 15, 1921, and was the first black person to earn an international pilot's license.

3. Jacqueline Cochran, pictured on the Propel Ten

Jacqueline "Jackie" Cochran (1906 – 1980) was an American pilot and business executive. She set many records and was the first woman to break the sound barrier on 18 May 1953. She was a pioneer in the field of women in aviation and one of the most prominent racing pilots of her generation.

4. Pancho Barnes, pictured on the Propel Twenty

Florence Lowe "Pancho" Barnes (1901 – 1975) was a pioneer aviator and a founder of the first movie stunt pilots' union. In 1930, she broke Amelia Earhart's air speed record. Barnes raced in the Women's Air Derby and was a member of the Ninety-Nines.

 5. Harriet Quimby, pictured on the Propel Fifty

Harriet Quimby (1875 - 1912) was an early American aviator and a movie screenwriter. In 1911, she was awarded a U.S. pilot's certificate by the Aero Club of America, becoming the first woman to gain a pilot's license in the United States. In 1912, she became the first woman to fly across the English Channel. 

6. Raymonde de Laroche, pictured on the Propel One Hundred

Raymonde de Laroche, is thought to be the first woman to pilot a plane. She did become the world's first licensed female pilot on March 8, 1910. She received the 36th aeroplane pilot's license issued by the Aeroclub de France, the world's first organization to issue pilot licenses.

 How to Use Toy Money to Educate Children on Financial Literacy

Money games and activities are a great way to get children familiar with the concept of money.  Below are some educational ideas for using our play money, followed by some links to more educational resources on financial literacy.

1. Play Restaurant 

For younger kids, use the toy money for them to pay for their meal during a game of restaurant.  

For older kids, create a menu with prices.  Have them use the different bills to count out the exact amount due.   Or, if the parent is the customer, give them 50 Propel Dollars and ask them to make change.

For kids with more advanced math skills, give them a budget of $20 for their meal and have them order item(s) that come in under budget.  Don’t forget to include a tip for some extra math practice!

2. Start a Piggy Bank or Savings Jar

Come up with activities for children to complete.  These activities could include chores, reading books, helping a sibling, or giving a report on an interesting topic.  Once finished, they receive various amounts of Propel Dollars depending on the difficulty of the task.  Put this money in a savings jar.  Once a day or once per week, allow your child to cash in their earnings at a ‘store’ with items costing different amounts.  For example, your store could include anything that works for your family:   one of their favorite candies (5 Propel dollars), a fun game (10 Propel dollars), coupons for a lunch date with mommy (20 Propel dollars), etc. Your store can also include items to donate to those in need or dollar amounts to send to favorite charities – don’t forget money isn’t just about spending.

Parenting Instagrammer Simply on Purpose has several videos on how to create a family economy within your home.  Her Instagram story is full of ideas for implementing this type of strategy.

3. Grocery Shopping Game

Before shopping, determine your budget, say $100.  Using a lined sheet of paper, draw a line down the center of the page.   On the left, write your grocery list.   On the right, put the total budget on the top.  

Now, head to the store (this could be the real store or an online store).   Have your child help find the items on the list.  Once acquired, cross the item off the list and subtract its cost from the total.   When finished, compare your number with the budget.  Is there any money left over?  Discuss with your child whether you should spend it on something else from the store or save it for another time.   Did you go over budget?  If so, discuss with your child what item you could put back.

Another way to play this game:  After writing down the grocery list, have the child guess the cost of each item.  Add up the guesses to determine the guessed budget.   Compare the guess to the actual amount at the store.  How did your child do?  How would you do if you tried this yourself?

More Resources for Teaching Financial Literacy to Children

Here are some other great resources for teaching financial literacy skills to children:

Tools for Teaching Financial Literacy to Kids of All Ages

15 Ways to Teach Kids About Money

How to Teach Kids About Money, from Toddlers to Teens

A Teacher’s Lesson on making spending decisions

Podcast Episode 105 from Your Parenting Mojo: How to pass on mental wealth to your child

-Amanda Vaught - amandavaught@propel-fa.com