Posted on 11/30/24
One Friday afternoon this past summer, Shlomo called. Shlomo is a close talmid of mine whom I have taught in various classes over the last three years. “Rebbe, you are going to be so proud of me,” Shlomo began. “I just got paid from my first-ever job as a counselor. I took off maaser and then went with my mother to the bank to open a high-yield savings account. Also, could you send me the maaser spreadsheet you once told us about? I want to keep track of my maaser.”
I was so moved that Shlomo called and shared these lessons that he had learned from the finance classes offered in middle school, as well as from the maaser discussions we’ve had. I told him that I was proud of him for putting into practice the lessons he learned in school.
Money! It’s a subject some people would rather avoid discussing. It’s a subject that touches every area of our lives. Our understanding of money as either a means to an end or an end in itself is often blurred. Money is something that we can’t live without, but how we live with it will often dictate the life we lead.
We all know that handling money can be challenging, but if we prepare our children with the basics, won’t they be so much more prepared for that challenge? If we can teach our children to handle money through the lens of Torah, won’t they have the proper view throughout life? The more we instill in them that money is a means to an end and not a goal in itself, the more likely it is that these lessons will bear fruit when they reach adulthood.
It’s possible that in the last generation this was less necessary, as fancy and high-end items were less readily available. Many chose a simple lifestyle, and that was just fine. However, with gashmius now so easily attainable, the line between needs and wants often becomes blurred.
An additional benefit of teaching financial literacy is enhancing General Studies. It is challenging to keep children interested in General Studies after a full day of learning. I have found that in all areas – especially finance – the more interested they are in the subject matter, the easier it is to hold their attention. They enjoy learning about checking and savings accounts, credit and debit cards, compound interest, insurance, taxes, and mortgages, just to name a few topics. They are intrigued by how money works and how it can grow with minimal effort. Over the years, both in Jewish and secular curricula, there has been a great deal of quality material published on these topics. At Yeshiva K’tana of Waterbury, we have used some of these curricula to provide the boys with a “Basic Personal Finance Course.” While there are definitely other Yeshivos and Bais Yaakovs that teach these topics, unfortunately, it’s not yet commonplace.
These discussions about money also give us the opportunity to teach children about maaser. When children learn to use a spreadsheet to easily track their maaser and begin from a young age to keep track, there is a good chance this will become a priority and a lifelong mitzvah for them.
There is no easy solution to broaching the broad topic of money, but one thing we must do is properly prepare the next generation with the correct frame of reference for the challenges they are bound to face. Students today will surely be grateful in the future!
Rabbi Moshe Dov Heber is a Middle School Rebbi in Yeshiva K’tana of Waterbury, the Director of the Mishmar Evening Program in Waterbury and Division Head in Camp Romimu. He is a frequent contributor to various publications on areas related to education and inspiration as well as speaks publicly. Rabbi Heber can be reached via email at mdheber@ykwaterbury.org.