Financial Literacy Curriculum

Many financial institutions, governments and independent organizations have developed financial literacy curricula. A financial literacy curriculum teaches basic financial skills to students of various age groups. Some curricula are age specific while others seeks to teach universal principles to those of all ages.

The result of financial education

When examining the effects of financial education on students in schools, one informative article is “Experimental Evidence On The Effects of Financial Education on Elementary School Students’ Knowledge Behavior, and Attitudes.” written by Michael Batty, Michael J. Collins and Elizabeth Odders-White. The study focuses on studying the effect of financial education on students in fourth and fifth grade. Building a subject like this into a school curriculum would not be easy, but results look hopeful. This could improve the lives of future generations by giving children the knowledge they need to be financial stable in a volatile market. There are other factors involved with a person’s financial decisions such as peer pressure, learned habits from parents and consistent advertising, but by starting financial education at such a young age, teachers may be working with very fresh minds (Batty, Collins and Odders-White). The success rate for the study draws the conclusion that financial education can create a better student and in turn, give that student a better future. [1]

FDIC Money Smart

Developed by the U.S. Federal Deposit Insurance Corporation, Money Smart for Young Adults is a financial literacy curriculum designed for students between the ages of 12 and 20. It has 8 modules, each of which take approximately 110 minutes to complete. Money Smart for Young Adults focuses on saving, debt, home ownership. Money Smart for Young Adults does not currently offer an investing module.[2]

NEFE

The National Endowment for Financial Education, better known by their initialism NEFE, is a non-profit organization that provides financial literacy curricula for high school and college students.[3]

References

  1. ↑ Batty Michael, Michael J. Collins, and Elizabeth Odders-White. “Experimental Evidence On The Effects of Financial Education on Elementary School Students’ Knowledge Behavior, and Attitudes.” Journal of Consumer Affairs 49.1 (2015): 69-96. Business Source Premier. Web. 19 Apr. 2016.
  2. ↑ http://www.fdic.gov/consumers/consumer/moneysmart/young.html
  3. ↑ http://www.hsfpp.org/about-the-program.aspx
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