NASHVILLE, Tenn. (WKRN) — As the cost of pretty much everything continues to rise, budgeting and where we spend our money is more important than ever. It’s hard for many adults and especially hard for children.

We just wrapped Financial Literacy Month. One teacher in Brentwood knows about the importance of financial literacy and is making it his mission to educate his students.

Scott Wells, former NFL player and now teacher, waits until the end of the year to cover one lesson in particular for his senior class at Brentwood Academy. It’s called, Personal Finance.

“I tell my students just as you might with your academic or your athletic goals, you need to have financial goals and you need to make sure that each day you are training yourself to get closer to that goal,” says Wells.

Tennessee already requires personal finance courses for high school students, but now, legislation is being considered to introduce those courses for middle schoolers as well.

It’s hard enough for many adults to know how to balance a budget and live within our means, so how can we expect our kids to?

Wells says he uses his personal experience in his lesson plan. “I did not know how necessarily to plan ahead and to be deliberate with my savings, etc,” says Wells, “And those are still things that I have to reinforce today, because I had so many years without it.”

Find more Top Stories from wkrn.com

On the other end of the spectrum, Wells uses his time in the NFL as a way to get students excited about financial literacy.

Wells played for 11 years in the NFL with the Packers and Rams. “I like the analogy that’s used when you pay interest, it’s kind of like getting penalized in a football game; you move further away from your goal. But, when you receive interest, the defense got a penalty, and you move closer to your goal.”

Wells says the time is now to educate students about money, before they go off to college.

“It’s nice to be able to sit them down and say, ‘Alright, these things are around the corner in college, you have to be ready. Do not be surprised when you walk across campus and they try to entice you with all these things because it never ends up being a good deal,'” says Wells.

Teaching his students about the most important currency of all is also a priority.

“I always tell my kids that I teach the money is a resource that is paid for with your time. And I say, ‘Your time is the most valuable and only nonrenewable resource there is. They’re not making any more of it and there’s no substitute for it.’ So, I think anything you can do to teach kids about use of time,” says Wells.

He says for example, giving them a job or chores around the house. “If they get an allowance, teaching them the importance of, ‘Alright, we’re gonna take your allowance, whatever it is, and we’re gonna break it.”

Wells uses Ramsey Solutions “Foundations in Personal Finance” course for his lectures.

The House passed the bill to introduce financial literacy to students grade six through eight April 12. It’s being considered now in the Senate.