Most students are making financial decisions right now. This is an opportune time for personal finance teachers to help them form good habits, while they are also learning personal finance concepts. Learning the material doesn’t guarantee they will apply it. 

What we know about behavioral economics is that our behavior oftentimes runs contrary to what is a rational choice or what is desired in the long run. Nudging students to use behavior-based intervention strategies to reach their own goals could be just the help they need right now. Here are a few simple suggestions to pass on to your students:

Depending on the age of your students, some of these suggestions will require involving their parents. This is an excellent example of how you can utilize our new parent newsletters! Consider adding a few suggestions for parents in your next unit parent newsletter that will make it easier for your students to put to action what they’re learning in class.

Here is a handful of resources if you’re interested in learning more about behavioral economics:

• NGPF Certification Course: Behavioral Economics 
• NGPF Mini-Unit: Behavioral Finance
• NGPF Podcast: Morgan Housel discusses his new book "The Psychology of Money"
• NGPF Podcast: Tim Talks To Behavioral Economist Dr. Sarah Newcomb
• NGPF EdPuzzle Thursday: Behavioral Economics
• Behavioral Finance Panel with Professors Meir Statman (Santa Clara University) and Terry Odean (Berkeley) at NGPF Summit
• Video: Father of Behavioral Finance Receives Nobel Prize

About the Author

Brian Page

Making a difference in the lives of students through financial capability is Brian’s greatest passion. He comes to NGPF after fifteen years of public school teaching where he was the ‘11 Ohio Department of Education recipient of a Milken National Educator Award, the CEE Forbes Award winner, and a Money Magazine/CNN "Money Hero". He served on the working group for President Obama's Advisory Council on Financial Capability. He has private school experience as a Trustee for the Cincinnati Country Day School and was a past Ohio Jump$tart President. Brian holds a BBA and M.Ed. When Brian isn’t working alongside his NGPF teammates he is likely spending time with his wife, three children, and dog; hiking, or watching Ohio State football.