Research has proven that instructors who share personal stories are better able to relate and build rapport with an audience. But the NFEC’s personal finance videos take this knowledge a step further by having celebrities share their individual stories. When youth hear information out of the mouths of people they respect and admire, the lessons are that much more likely to hit home.
To teach financial literacy, video has a much better chance of capturing teens’ interest than reading materials or lectures. There is empirical evidence to suggest that young people learn better when they have a visual representation as a reference. They are much more likely to retain the information and be able to apply it to their own lives.
The NFEC has a demonstrated commitment to building the financial capabilities of youth around the country. They are aware that most financial education tends toward the boring. A video depicting a banker in a suit droning on about “financial literacy” is unlikely to make much of a splash among the youth set. In contrast, the NFEC curriculum programs incorporate fun activities and games to keep young people involved and engaged.
Another key feature of the NFEC curricula is their interactivity. That is, the NFEC doesn’t just write a bunch of financial literacy articles and put them up on a website. Although there are written materials to accompany the curriculum, most of the instruction is delivered through videos and other interactive multimedia. And the celebrity testimonials are one of the most successful pieces of this financial literacy program.
Financial Education Awareness Campaign
Learn more about the National Financial Educators Council’s holistic approach to financial education campaigns and discover how to achieve your organizations objectives while you share a practical financial education with those you serve.
In today’s uncertain economic times where today’s youth often prefer multimedia learning tools rather than classroom instruction, financial literacy videos are helping some pick up money management skills. The NFEC’s online program, Money XLive multimedia, features videos from over 30 celebrities and sport stars to get students motivated to learn about money.The use of the NFEC’s financial literacy videos to teach proper money management habits is being used in classrooms and by parents across the country. Revolutionizing how financial literacy is delivered, the National Financial Educators Council has produced some of the top financial education videos in the industry. These videos are incorporated in a variety of financial education products.
The NFECs’ celebrity supporters have contributed exclusive financial literacy videos that share their passion and knowledge on the subject of money. They relate their personal financial stories so lessons are delivered in a non-lecture way yet that students remember. The NFEC helps the celebrities shape their stories so it fits into their signature format: motivate, educate and move to action.
The financial literacy videos featured by the NFEC have a common element. They relate money to lifestyle. Most young people (and people of all ages) are not motivated by having a large bank account or a lot of money in their 401K. It the lifestyle that money affords them that truly encourages them to want to acquire money management skills. It’s the experiences they desire, travel dreams, the people they want to help and getting the toys want.
Unfortunately most financial education videos show a banker in a suit preaching about ‘financial literacy’ – BORING. The focus of effective financial education videos is to design them in an MTV style format, with the look and feel they relate to. Equally important is the quality of the material being delivered. It should be practical in nature so students can instantly recognize the benefit of them learning about money and how money management skills relate directly with their life.
Before the NFEC launched their Money XLive and Real Money Experience multimedia learning center teachers and parents would have had to force students to learn about money. Now, because of the engaging video platform, students are excited and want to learn about money. In fact, many of today’s youth are either buying the financial literacy learning centers for themselves or asking their parents to purchase it for them.
Even simple financial literacy videos that illustrate the importance of opening a bank account young can have lasting benefits. There is a huge number of ‘unbanked’ and financial education videos that encourage them to open an account will set them up for the future. Just a simple activity encourage by online videos can get them motivated enough to open up their savings and checking account.
Can you imagine a scenario where your child or student is actually teaching themselves about money? Well the day is here and much of it is due to the NFEC leading the way with engaging financial literacy videos on NFEC’s YouTube Channel.
Motivate, educate, and move to positive action—that’s the mantra of the National Financial Educators Council as they work toward building the financial capabilities of individuals and organizations around the globe. The NFEC has been credited with transforming the way personal finance is taught. Their financial literacy video and online resource center, Money XLive, is a prime example.
Money XLive is designed as a comprehensive online learning tool to engage youth in the education process while they learn practical money management skills. The resource center incorporates entertaining financial literacy videos that feature exclusive interviews with celebrities and sports stars. Other online resources also are available, including interactive tools, guides, surveys, and simulation games.
The NFEC, a social enterprise organization, collaborates with a team of experts in finance and education to develop curriculum and online information to build the financial capabilities of people from all socioeconomic backgrounds. Money XLive is not just another boring set of articles. The financial education videos and other multimedia presentations make these practical lessons fun and motivating.
This comprehensive approach to promoting youth financial literacy helps kids engage in the learning process, and leaves them motivated to apply what they’ve learned to their own lives. By the time students graduate the Money XLive coursework they have a whole set of practical skills. For example, they have set financial goals, written a budget, developed a credit-building plan and a long-term financial strategy.
Today’s younger generation faces the possibility of drastic reductions in retiree entitlement programs by the time they reach retirement age. Given that there may be no pension or social security available in the future, teaching student financial literacy today becomes that much more important. Money XLive offers an excellent opportunity to raise youth awareness and ability.