Want to Know How to Teach Personal Finance? Read Here
Are you a concerned individual or organizational leader who wants to know how to teach personal finance? The resources and information located here will serve to launch you down the path toward a successful program.
If you want to teach personal finance, there is a right way to go about it. For example, consider the following story which shows how someone turned their desire to learn how to teach personal finance into reality:
Jenna Cooper had been volunteering for the Salvation Army for almost a decade, and had moved up into the position of Volunteer Coordinator. Through her work, she knew that one of the organization’s founding principles was to help those in poverty. Jenna had a vision about learning how to teach personal finance, so she could bring a training program to the poor in her community and help them work toward a better future. Specifically, she wanted to help single mothers. She just needed a few pieces of information about how to conduct outreach to her target audience. She decided to go right to the source – she went out and did interviews with 10 single moms in her neighborhood, and learned that they most needed some basic information about setting up and managing their accounts, sticking to a budget, and living within their modest means.
Jenna’s next task, now that she had a firm sense of her near-term and farther-reaching goals, was to pick her delivery methods. She had already chosen live instruction as the initial mode. But how should she pace the coursework? She learned about asynchronous education, where multiple delivery modes were combined when teaching personal finance. Jenna thought some combination of in-person classes and one-on-one consultations might be helpful to the single moms, whose schedules were tight with children’s activities and other obligations.
Jenna’s program was moving forward, but now she had to locate an instructor with appropriate credentials in both money management content and knowledge of how to teach personal finance. She made contact with the NFEC and asked about Certified Instructors in her area. Luckily, there was a CFEI not far from the Salvation Army’s community headquarters that was in training to become a personal finance coach.
Jenna had secured funding for this first attempt to teach personal finance out of the Salvation Army’s coffers. However, she knew she needed to demonstrate program success in order to attract long-term support to make it sustainable. Jenna designed measures to demonstrate program impact. A total of 43 single moms came to the two-day workshop, and they showed an average improvement of 30% on a personal finance test. Jenna used these data to create an attractive report that she intended to distribute to the Salvation Army leadership, as well as other organizations that might be interested in funding her initiative.