Rigorous research evidence – drawn from both pedagogical theory and behavioral science – lies behind the NFEC’s development process. The resulting financial literacy materials motivate and inspire learners to adopt positive financial behaviors, imparting not only content knowledge about personal finance, but also the systematization of financial habits to move them toward more secure personal finance situations.
Best practices in financial education allow the material to be scaffolded based on a student’s learning style, prior knowledge base, and pre-existing financial habits. The instruction can be readily adapted to accommodate visual, social, or kinesthetic learning styles, and incorporates project-based learning activities to offer students chances for authentic and practical application of the concepts they’re learning. Ongoing assessments across a variety of instructional dimensions are encouraged in order to appropriately scaffold and adapt the teaching based on the students’ top priorities. These personal finance training products are modular in design and apply metacognition, identification of personal reasons for learning, and self-structured lessons to maximize positive behavioral outcomes.
According to the Federal Reserve, the NFEC’s multimethod delivery options represent best practices for financial education at the college level.