Women's financial literacy has become a hot topic of late—and for good reason: there is increasing evidence of a significant gender gap in financial and investment understanding, and its negative impacts on women, which include helping perpetuate the wage gap and leaving them unprepared for and vulnerable in major life changes or crises.
In an effort to combat this deficit, the school's seventh-grade math team recently designed and led a new unit aimed at strengthening girls' financial muscles. Teachers went well beyond abstract concepts and dollars and cents, rooting lessons in real-life applications and basing assignments on students' own future plans. Girls learned how to write a resume, apply for a job in their field of interest, build a budget around that salary, research local housing prices and cost of living, calculate taxes and interest, self-advocate for a promotion, and choose and support philanthropic causes.
These skills are so important—life-changing, even, especially for women, says Traci Meakem Richmond '88, a financial advisor and co-founder of financial planning firm The Meakem Group. The alumna was thrilled to serve as a guest speaker during the seventh grade's financial literacy unit and to have this opportunity to help educate and empower students. "I really want these girls to take hold of their financial lives," she says. "I want them to realize that taking control of their money gives them control over their lives and gives them choices."
Other guest speakers throughout the unit included Academic Dean Rachel Herlein on resume writing, Head of School Susanna Jones on philanthropy, and both Director of Finance and Operations Tracey Fudge and financial planner and President of the Corporation Mary Wallack on budgeting.
In an introductory letter sent home to seventh-grade parents before the start of the unit, math teachers Katie Lavelle and Emily Wilde shared their goals. They sought to boost students' financial literacy through activities that engaged and cultivated their creativity and problem-solving skills, while also giving girls vital practice and preparation for what lies ahead.
Beyond this, the unit was also about sparking connections for students. "We believe this is really an opportunity for the girls to see math come alive and to continue their learning at home," the teachers wrote. "We hope for rich dinner-table conversations and that the girls...see how their parents apply math in their everyday lives."
Through this unit, the school's math program in general, and the overall Holton education, teachers aim to help girls realize that math isn't just for "math people"; it can empower them and help them reach their life goals.
During the new seventh-grade unit on financial literacy, financial advisor Traci Meakem Richmond '88 speaks to students about her work and leads them through activities exploring compounding interest and the impact of saving early.