Great Financial Lessons Taught by Teacher Go Viral on TikTok.
Shelby Lattimore, a North Carolina math teacher, has gained popularity on TikTok and Instagram for her innovative approach to teaching financial literacy. In her third-grade classroom, Lattimore implements a unique system where students are required to “pay rent” for their classroom essentials, such as their individual desks.
After delivering the day’s announcements, Lattimore’s students receive wallets adorned with colorful drawings of animals, stars, hearts, and cars – containing the faux money they’ve earned throughout the school year. In a recent class, Lattimore engaged her students by asking if they understood the concept of inflating a balloon. When they affirmed their understanding, she humorously declared, “I am inflating your rents,” eliciting a mixture of grunts, complaints, and “no’s” from the lively classroom.
The weekly routine unfolds with students earning “Miss Lattimore Bucks” for taking on various classroom responsibilities, such as being a teacher assistant, line leader, door holder, recess basket attendant, or part of the cleanup crew. This engaging method not only teaches financial concepts but also instills a sense of responsibility and teamwork among Lattimore’s third-grade math students.
“Not all jobs receive the same pay,” she explained. “The roles that require daily commitment, like being the line leader or teacher assistant – those where you have to consistently do something – earn more than jobs that are occasional or infrequent.”
At the week’s end, students receive their earnings and face a decision: spend it or save it. This exercise equips them with practical life skills applicable to the real world, providing a foundation for responsible financial decision-making, according to Lattimore.
Observing her students develop an appreciation for the challenges their guardians may be facing, albeit in a controlled environment, instills a sense of responsibility that will serve them well as they transition into adulthood. Lattimore emphasized that financial literacy, encompassing skills like smart budgeting, saving, and investing, is lacking among U.S. adults, as indicated by various studies.
In the 2023 TIAA Institute-GFLEC Personal Finance Index, adults, on average, answered only 48% of 28 questions correctly, highlighting the need for improved financial knowledge. This gap is even more pronounced for Black and Hispanic respondents, with correct responses at 34% and 38%, respectively.
As a Black educator in a Charlotte school serving a predominantly Black and Hispanic population, Lattimore aspires to narrow the financial learning gap for her students through her unique classroom economy. She recognizes the prevalent generational poverty in Charlotte and aims to empower her students, particularly those of color, by addressing the challenges associated with living paycheck to paycheck and promoting a more forward-thinking approach to money management.
Engaging in economics actively enhances students’ comprehension, moving beyond passive listening to lectures. Utilizing games or simulations provides a practical avenue for internalizing the concepts being taught. Developing a grasp of cost-benefit analysis becomes crucial in shaping our decision-making skills.
In Lattimore’s class, students must “pay” $7 a week to rent their desk and chair.
“I tell them, just like I have to pay bills, they have to pay bills too,” she remarked. However, the money they earn isn’t just for responsibilities; it can be used to purchase rewards. For instance, candy costs $2, a homework pass is $3, lunch with a friend is $5, and lunch with Miss Lattimore is $7. The most coveted reward, priced at $30, is the opportunity to be “teacher for a day.”
Lattimore ensures that her students learn to budget, even for their preferred rewards. Being teacher for a day involves significant responsibility, including taking attendance and managing classroom activities. As part of their financial education, Lattimore sets a rule that students cannot spend more than they’ve earned.
One parent, Brittany Sales, shared how her daughter Marlii, who was in Lattimore’s class last year, underwent a significant transformation in her understanding of money. Marlii, who used to think money grew on trees, now saves the money she receives on birthdays and holidays. She has learned to budget for items on her wish list, such as a new pair of Nikes.
Lattimore’s creative teaching approach has not only impacted her students but has also led to personal success. Through brand collaborations and monetizing her videos on TikTok’s creator program, she earned a six-figure income last year, surpassing her teacher salary. With a substantial following on TikTok, Lattimore’s fans appreciate the humorous reactions from students navigating responsible spending and the genuine care she provides them. Her videos depict heartwarming scenes, including hugs, extra snacks, and even toothbrushes being distributed to her students.
The support from fans extends beyond virtual platforms, as they have sent school supplies, books, care packages, and snacks to Lattimore’s classroom. Despite the financial success, Lattimore expresses her excitement for work every day, emphasizing the genuine connection with her students as the driving force: “It’s going to sound so corny, but it’s them.”
All Rights Reserved.