The financial capability of individuals directly relates to the strength of our country. The former Federal Reserve Chairman, Ben Bernanke, had this to say about the importance of financial education in the country, “we are reminded of how critically important it is for individuals to become financially literate at an early age”.
For many, the recent recession put people in challenging financial positions. The silver lining is that has arisen from the problems is that there is more funding available for financial education programs. This includes an increase in financial literacy grants, sponsorships and funding through collaborative efforts. At some point in their life every man, woman and child needs to learn about money. The average person picks up financial skills through trial and error; but fortunately today there alternatives. With the increase in financial literacy grants available, there are organizations helping to provide money skills to people across the country.
The recent focus on the economy has highlighted stories of people living in a financial struggle. With this added attention there has been an increased awareness about the need to expand financial literacy programs To accommodate the expansion there has been a boost in financial literacy funding sources.
It is important for organizations to focus on maximizing financial literacy funding; this is especially important when you receive a financial literacy grant. A lot of time and money is wasted by many organizations that receive funding for their financial education program. They end up recreating products that are already on the market. Most organization would save time and money locating personal finance resources that have been proven to be effective. Doing so you are able to maximize the reach of your program and make a larger impact in your community. This will also make future grant application be stronger when applying for funding next year.
As many wait for financial literacy funding to make it through the grant pipeline others are pursuing alternative methods of finding financial education programs. One that has become increasingly popular is the relationships formed between corporations and groups promoting financial wellness – financial literacy sponsor opportunities.
To garner sponsorship and to raise awareness about your initiative, the NFEC suggests hosting financial education workshops. This can put your campaign in the spotlight and attract the interest of the community and potential sponsors. Create a unique event for participants (and sponsors, patrons, donors). Think of ways that you can turn that class into a memorable experience – remember there is competition so make your program stand out!
A mistake many organizations make is focusing their attention on developing financial education resources and not providing any professional development for the financial education instructors. Financial educators are the backbone of the program and should be addressed. We suggest enrolling the instructors and volunteers in theCertified Financial Education Instructor program. Ensure that a portion of your financial literacy funding goes into professional development programs for your educators.
Educating people on money skills is different than any other subject taught because there are so many emotions tied to money. When providing financial education instruction it is important that the material is delivered in a way your audience relates to. Ensuring your trainers are skilled in teaching kids about money is an important part of having a successful financial education program.
Another idea that will help stretch your financial literacy funding dollar further is to ensure your presentation matches the group you are working with. For instance you will teach kids about money differently than you would teach seniors about money. Design your personal finance program so it matches the needs of your audience – this will help ensure the participants will retain the information, generate additional financial literacy funding opportunities and highlight the effectiveness of your program.
Before you seek financial literacy funding consider the reach and frequency of your message. How many people are you serving and how often are you reaching them? The conclusion may be obvious – you will likely receive more financial literacy funding by reaching more people, increasing your frequency and if your financial education program is working.
Those organization that have developed successful financial literacy funding initiatives know how to deliver return on investment to those that fund their program. The ROI doesn’t always have to be monetary. It can take the form of media coverage, community goodwill and building key relationships. When seeking financial literacy funding always consider how you can support the donor and over-deliver on your promise.
With the expansion in the financial education services industry many groups have stepped up to provide support for these programs and have increased their financial literacy funding options. This opportunity can help your organization build sustainable financial education programs that can serve people for many years to come.
However you fund your program – through financial literacy grants, sponsorships, or other financial literacy funding opportunities – the objective should be to provide a practical education, raise awareness and take steps to ensure your sustainability.
Grants for Financial Literacy Programs Enhance Sustainability
For many nonprofits and other community groups, locating opportunities to obtain grants for financial literacy programs makes all the difference in whether those programs can be sustained over time. Fortunately, help is at hand for those organizations who seek to raise funds and build sustainability for the financial literacy movement.
The National Financial Educators Council is a private, independent, for-profit organization with a social enterprise business model. This team of experts in the personal finance arena offers financial literacy programs that bridge the gap between theory-based education and practical application. The NFEC is committed to providing consultation and aid to nonprofits interested in bringing a financial literacy initiative to their communities.
Part of that commitment is realized by connecting community organizations with funding opportunities. The NFEC has published a free Grant Guide which lays out contact, deadline, and application information for more than 100 organizations that offer grants for money management education. The NFEC believes that each successful effort toward enhancing campaign sustainability contributes to their stated mission of creating a global financial education program. Thus they work toward raising the financial competencies of citizens all around the world.
In addition to state-of-the-art curriculum materials and classroom-based coursework, the NFEC also offers financial literacy software and other online resources, many of which are available complimentary for organizations to donate to their communities.
The overarching goal of the NFEC’s sustainability efforts is to reduce the time and cost organizations must allocate toward obtaining funds. That leaves the organization more free time to spend on promoting and implementing its successful financial wellness program and improving the financial capabilities of community members.
Financial Literacy Grant Opportunities
The NFEC’s Financial EduNation Campaign is committed to giving organizations financial literacy grant opportunities needed to generate funding for financial literacy initiatives and reduce costs associated with the research and application process. When your organization builds sustainable programs, you help us fulfill our mission: to bring practical financial education to people around the globe.
In past years, the NFEC published the Grant Guide which provided information about more than 100 organizations that provide funding for financial education programs. This guide will still be provided complimentary, and we will now post grants on our Sustainability Blog site in a timely fashion.
Receive financial literacy grant updates by visiting our financial literacy grants page and/or complete the form in the left margin of this page. As grants for financial education programs are announced, the NFEC will notify all of you and update the blog.
The goal is to help organizations significantly reduce the time and expense of researching funding sources on their own. The less time you have to spend focusing on fundraising, the more time you can allocate toward teaching personal finance lessons that can have long-term positive impact on those you serve.
Organizations that Provide Funding
Are you an organization that offers funding for financial literacy programs? Connect with over 5,000 organizations served by the NFEC by submitting your grant information – contact us.
You can also view the programs offered by the NFEC, our partners, and our Certified Financial Education Instructors by visiting the financial education sponsorship page.
Details and Terms
Our goal at the National Financial Educators Council is to provide resources to help you uncover sources of financing. NFEC offers turnkey packages to help you fund your financial education services. We offer sponsorship packages, financial literacy grant material, and complete fundraising programs to help nonprofit organizations and schools fund their financial education services—all at no cost.
These resources may help you discover a funding source. There is no guarantee that you will secure funding. Read the complete terms and conditions for use of this website.
Those interested in teaching and promoting financial wellness, the CFEI professional development program is the preeminent financial educator certification training course.
Connect with our audience through engaging and fun presentations that also meets core educational standards. The NFEC’s programs have been recognized for their ability to connect with participants.
The NFEC’s turnkey financial education workshops provide a complete financial education campaign. Save time, money and the personnel needed by implementing this comprehensive financial education system.
Tips on Winning and Maximizing Your Financial Literacy Grants
In the current economic environment many foundations, corporations, and individuals offer financial literacy grants and funding to support a variety of financial education programs.
The current financial literacy movement is gaining momentum, and an increasing number of financial literacy grants are becoming available. There is good reason why our nation needs to take massive action to combat financial illiteracy now. According to Ben Bernanke, Federal Reserve Chairman, “The financial preparedness of our nation’s youth is essential to their well-being and of vital importance to our economic future.”
Although many larger financial education campaigns exist, the grassroots financial literacy movement is making an important difference too. This article will explore available funding options for organizations that share your mission of curing the financial illiteracy epidemic.
We have included some tips below to help you maximize sponsorship dollars, fundraising efforts, and financial literacy grant awards:
1) Quit designing new financial literacy curriculum! Many nonprofits and other organizations win financial literacy grant money, then go out and design a brand-new financial education program. Given the quality material already on the market, this is a waste of funds.
The National Financial Educators Council has a wide array of products and services from which you can choose. Our easy-to-use packages will help your program get up and running quickly. Most importantly, our program allows you to focus funding toward reaching more students and making a greater impact on their lives.
Instead of reinventing the wheel, find a financial education program that meets your needs and purchase it with your financial literacy grant funds. This will greatly reduce your investment, and in turn makes you a better candidate for financial literacy grant money in the future.
If you want your own custom-branded financial education program, we can create one for you; or choose from a wide assortment of financial literacy curriculum, camps, and workshops that have a proven track record. Spend your financial literacy grant dollars toward helping your participants receive the financial education services they need.
2) Financial Literacy Certification. No matter how good a financial literacy curriculum is, it won’t matter if your teachers are untrained. Many financial education instructors bore kids to sleep. Either educate your financial education instructors, or hire certified financial educators. Teaching personal finance programs right requires qualified, trained educators. Today’s youth are motivated and inspired by the educator, not by student guides or materials. Prepare teachers to share this life-changing information in a way to which students can relate—that will ensure your financial education program’s success.
3) Financial education services should speak to the target audience. Your financial education program should be designed with the audience in mind. If you’re in an area where kids love country-western music, bring in country-western music. But remember, that same presentation will be an absolute flop in a place where kids prefer hip-hop.
Our job as financial educators is to relate to students in a way they understand to maximize learning. The way you present the information is just as important as the financial literacy curriculum itself. Tailoring your presentations also helps you stand out the next time you apply for financial literacy grants, sponsorships, and aid.
4) Measure. Conduct pre- and post-tests to measure the effectiveness of your financial education services. A solid measurement system will be vitally important next time you apply for financial literacy grant money. Measurement not only helps you win more financial literacy grants, it also guides you to improve the financial education program, so the participants get more out of it each year.
Receiving a financial literacy grant means you are responsible for ensuring that the youth you reach achieve their maximum potential for personal finance capability. Our goal is to motivate, engage, educate, and move students to take positive action.