High School Students Learn Smart Money Moves in Financial Literacy Class

For high school social studies teacher Joseph Petraiuolo, a trip to Costco is like a treasure hunt. With constantly rotating deals stacked floor-to-ceiling on wooden pallets, you never know what you’ll find. But when he pulls out his membership card at checkout, he holds his breath and braces for the hefty total that comes from buying in bulk.

It turns out, Mr. Petraiuolo’s Costco habit is the perfect opportunity to teach retail strategy and smart consumer habits in his financial literacy class. “Costco wants you to look around and search while you’re in the store,” he tells students. “They move items around on purpose to keep you in the store so you’ll load up your cart.”

Launched last school year, the financial literacy course fulfills Ohio’s graduation requirement while preparing students in grades nine through 12 for the financial decisions they’ll face as adults. The curriculum covers topics such as budgeting, saving, retirement planning, credit, loans, and taxes.
“Many students will need to start making important financial decisions as soon as they turn 18,” says Mr. Petraiuolo. “These decisions will impact their futures and doing so without understanding how the systems work can cause severe financial hardships.”

Gen Z, he notes, faces unique challenges. Inflation has driven up the cost of goods, while wages have not kept pace. Social media also contributes to financial pressure by promoting a higher standard of living.

“In order for students to survive in the world we live in, they cannot afford any significant financial mishaps along the way. This course strives to prepare students to be financially successful,” says Mr. Petraiuolo.

Mr. Petraiuolo tailors his lessons to be both relevant and engaging for teens. For example, students create sample budgets based on average salaries for career paths that interest them. They explore what kind of homes they could afford, the cars they might drive, and how to manage living expenses while meeting other financial needs. During the credit and loans unit, students calculate the costs for down payments, closing fees, and monthly mortgage payments for a home. They also analyze how long it would take to pay off $10,000 in credit card debt using their budget projections.

Beyond budgeting, students examine strategies used by retailers such as Amazon and Target to encourage spending and discuss the impact of the social media influencer economy, which drives billions of dollars in impulse purchases annually. These exercises give students a deeper understanding of how financial systems operate and how to make informed decisions as consumers.

Mr. Petraiuolo has been teaching at Beachwood High School for three years, following six years of teaching experience in Washington, D.C. Along with financial literacy, he has taught Ancient World History, Modern World History, U.S. History, and U.S. Government. His passion for financial literacy is rooted in his own experiences as a high school student.

“I took a financial literacy class during my Excel TECC program at Mayfield High School,” he says. “I felt ahead of the curve when I graduated and started earning a consistent income after college. I’ve always wanted to teach this topic because it had such a huge impact on my life.”

For 11th grader Adrian Cintron-Perez, the class has been eye-opening. His favorite activity was a mock stock market simulation, where he made strategic investments in Nvidia Corporation and other tech companies. “This class is really important for students to have,” he adds. “When you get older, it’s important to know how money works and how to maximize your budget.”