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The Psychology of Money by Morgan Housel has become one of the most widely read personal finance books in the world. Not because it teaches spreadsheet tricks, but because it honestly examines the way our experiences, emotions, and blind spots shape every financial decision we make. Housel writes in short, accessible chapters that middle and high school students can actually read and discuss, and the ideas connect directly to real situations they're already navigating. The book doesn't assume you're a stock market investor or a business major. It's written for everyone which is why I have found it to be useful in a classroom. A student who has seen financial hardship in their household will recognize themselves in these pages. So will a student who grew up with more financial stability. The core argument, that money is less about math and more about behavior, is one that students at any level can engage with. For teachers, this book pairs naturally with any unit where students are already thinking about savings, spending, credit, or budgeting. It works especially well as a culminating read or independent reading component after students have completed some of the more mechanics-focused projects from the Bundles. Buy the book from Amazon by clicking here if you don't already have it. |
The resources below are part of the Taxes for Teens Project which you can find here.
Compounding Calculator - Lesson 4
📈 Compounding Calculator — Lesson 4
See how small, consistent savings grow over time with compound interest.
Lesson 4 prompt: "If you saved $50 every month for 10 years, how much would you have? How would compounding change that amount if it earned interest?" — Use this calculator, then write your response in the packet.
$50
5.0%
10 yrs
Saved (no interest)
$6,000
Just your deposits
With compounding
$7,764
Your money + growth
Interest earned
$1,764
Free money from patience
Emergency Fund Calculator - Lessons 10 & 13
□️ Emergency Fund Calculator — Lessons 10 & 13
Find out how much of a safety cushion you need — and how long it takes to build it.
Lessons 10 & 13 prompts: "Write one way you could start saving money right now" and "Write one example of how you could leave 'room for error' in your personal finances." — Use this calculator, then write your response in the packet.
$1,500/mo
3 months
$100/mo
Emergency Fund Goal
$4,500
Your "room for error" target
Time to Reach It
45 months
~3 yrs 9 mo at $100/mo
□ Most financial experts recommend saving 3–6 months of expenses. Try moving the sliders to see how increasing your monthly savings shortens the time to reach your goal.
Hidden Costs Calculator - Lesson 15
□ Hidden Costs Calculator — Lesson 15
Discover what things really cost beyond the price tag.
Lesson 15 prompt: "Think of something you really want (a car, trip, or phone). Besides money, what 'hidden costs' might come with it?" — Select a purchase below to see the full picture, then write your response in the packet.
Choose a purchase:
Select a purchase above to see its hidden costs.
Glossary
□ Glossary
All terms from the student packet — searchable. Use while completing lesson activities.
Showing all 24 terms
| Term | Definition |
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No terms match your search. Try a different word.