ELI5: Explain Like I'm 5

Social studies of finance

Social studies of finance is like studying how people use money and how they feel about money. Just like when you use your allowance to buy toys or candy, grown-ups use money to buy things like cars, houses, and food. But sometimes, people use money to buy things that other people might think are silly or not important.

Social studies of finance helps us to understand why people use money in different ways and what they think about it. We can learn about how they make decisions about money, how they use it to show off or impress others, and how they feel when they don't have enough of it.

Sometimes, people get really excited about making money and they take big risks with it. Other times, people are very careful with their money and they only use it for things that they really need.

Social studies of finance is like being a detective and trying to figure out why people make the choices they do with their money. We can learn a lot about people and their values by looking at how they use their money.