Top 5 Personal Finance Videos for High School Students to Watch
As kids transition into adulthood, it’s imperative for them to learn how to manage their money judiciously. Unfortunately, financial illiteracy remains a persistent problem among young people, compounded by the fact that personal finance isn’t taught in schools as a subject. In an age where information is easily accessible and video content dominates our screens, we’ve compiled a list of the top 5 personal finance videos for high school students. These videos are not only engaging but also teach practical skills that’ll come in handy in their financial endeavors.
1. Ted-Ed’s “How to Read an Annual Report” (6:08 min)
Understanding how to read an annual report is an essential skill for making informed investment decisions. The video starts off by explaining what an annual report is and why companies create them. It then guides viewers through the different sections of the report and what to look for. This video is crucial for students interested in investing in stocks or working in finance.
2. Khan Academy’s “Intro to Interest” (8:07 min)
Interest is a fundamental concept in personal finance, and this video offers a simple explanation of how it works. The video breaks down the concept into three parts: principal, interest rate, and time. It also provides examples to help viewers understand how different interest rates and loan terms affect the total amount payable.
3. The Financial Diet’s “5 Money Mistakes to Avoid in Your 20s” (12:00 min)
For many young people, entering adulthood comes with newfound freedom and financial responsibilities that can be daunting. This video highlights five common money mistakes and offers practical tips on how to avoid them. Viewers will learn about the dangers of credit card debt, the importance of starting an emergency fund early, and the power of compound interest.
4. Investopedia’s “Budgeting Basics: Setting Up a Budget” (3:10 min)
Budgeting is a foundational skill for managing personal finances. This video provides a simple guide to creating a budget. It explains how to calculate income and expenses, categorize spending, and adjust the budget based on changing circumstances. The video also emphasizes why it’s essential to track spending and review the budget periodically.
5. The Economist’s “Why Are Millennials Poorer Than Their Parents?” (4:33 min)
While this video doesn’t offer personal finance advice per se, it’s a thought-provoking look at the economic challenges facing millennials. It explores why millennials are earning less than their parents, even with better education and technology available. The video is a great conversation starter for discussions on the gig economy, student debt, and the changing job market.
Conclusion
Incorporating financial literacy into high school curricula is crucial for students’ success in adulthood. Watching these videos can help students understand personal finance concepts, avoid common money mistakes, and plan for a financially stable future. Apart from being informative, these videos are also engaging and fun to watch, making them ideal for sharing with students both inside and outside the classroom.
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