Philadelphia’s classrooms are changing, thanks to a local advocate who believes kids should learn about money early.
Steven Novosel has made it his mission to bring financial literacy to Philadelphia students. He’s working with schools across the city to teach kids practical money skills.
“I saw too many young adults struggling with basic finances,” Novosel explains. “Many never learned how credit cards work or how to save for their future.“
His program teaches students as young as third grade about saving, budgeting, and smart spending. For older students, lessons cover credit scores, investing, and college planning.
The results are impressive. Schools report students opening savings accounts and having better money conversations at home.
“My daughter now helps with our grocery budget,” says Maria Lopez, whose child participates in the program. “She understands the difference between wants and needs.”
What makes Novosel’s approach unique is how he connects with students. He uses games, real-world examples, and technology to make money concepts stick.
One popular activity is the “Life Budget Challenge.” Students pick careers, receive mock paychecks, and manage monthly expenses. They face surprise costs like car repairs or medical bills.
“We see the lightbulbs go off,” says Franklin Middle School teacher James Wilson. “They realize why their parents stress about money sometimes.”
Research backs Novosel’s work. Studies show that children who learn financial skills early are more likely to save money and avoid debt as adults.
His efforts come at a critical time. Only 23 states require financial education for graduation. Pennsylvania isn’t one of them, though a new bill might change this.
Local businesses have noticed Novosel’s impact. Several banks and credit unions now sponsor his classroom visits and provide materials.
“We’re investing in future customers,” says Alicia Chen of Philadelphia Community Bank. “But more importantly, we’re investing in financially stable communities.”
The program recently expanded to after-school settings and community centers. This summer, Novosel will train 50 teachers to bring financial education to more classrooms.
“Money shouldn’t be a taboo topic,” Novosel insists. “Kids are curious about it, and they deserve honest answers.”
As financial technology evolves rapidly, Novosel believes education must keep pace. His newest lessons include digital banking, cryptocurrency basics, and online security.
The challenge ahead is reaching more students. Currently, only about 15% of Philadelphia schools offer comprehensive financial education.
Novosel envisions a future where money skills are as fundamental as reading and math. Until then, he’ll continue visiting classrooms, giving students tools many of their parents never received.
“Financial knowledge is power,” he says. “And every child deserves that power, regardless of their ZIP code.“
Parents interested in bringing financial literacy to their child’s school can contact Novosel through the Philadelphia Education Initiative.
