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Money
Smart for Young Adults
The FDIC’s Money Smart
for Young Adults curriculum helps youth ages 12-20 learn the basics of
handling their money and finances, including
how to create
positive relationships with financial institutions. Equipping young people
in their formative years with the basics of financial education can
give them the
knowledge, skills, and confidence they need to manage their finances once
they enter the real world.
Money Smart for Young Adults consists of eight instructor-led modules. Each
module includes a fully scripted instructor guide, participant guide, and overhead
slides. The materials also include an optional computer-based scenario that
allows students to complete realistic exercises based on each module. The curriculum
is distributed on CD: click
here to order it.
Money Smart for Young Adults is:
- Free;
- Aligned
with educational standards for all 50 states, the District of Columbia,
Guam and the Virgin Islands, as well as Jump$tart financial education
standards and National Council on
Economic
Education
economic
education standards;
- Based on the award-winning
Money Smart adult financial education curriculum that can bring proven
results in the money management
practices and
financial confidence of graduates;
- Offers a completely
customizable curriculum comprised of modules that can be taught on
a stand-alone basis;
- Not protected by
copyright restrictions; and
- A source of unbiased
information that is not “branded” with
corporate logos or otherwise affiliated with any commercial interest.
Modules range from 90-110 minutes
if taught in their entirety. However, the content is layered so that it can
be taught in two (or more parts). To help
an instructor tailor the modules to the needs of the audience, the front of
each module includes a matrix or Layering Table to delineate the module’s
components. The matrix will assist an instructor in presenting material responsive
to the needs of your target audience within the available time frame.
A description of each of the eight modules follows:
Potential
Uses of Money Smart for Young Adults
The curriculum can be used by individuals who are seasoned, professional educators
as well as informal educators (such as bank staff visiting a classroom).
As with the adult curriculum, the materials are fully scripted so someone
can pick up the instructor guides and begin teaching without having previous
teaching experience or extensive subject matter expertise. In short, any
instructor can easily pull quality, objective, instructor-led content from
Money Smart for Young Adults to integrate into a class on subjects ranging
from math or English. Uses for Money Smart for Young Adults include as:
- Part of a required
course;
- Optional material for
visiting/guest teachers;
- A supplement to material
in finance, economics, social studies, math, or business courses;
- An after-school elective;
- A school group or club
project; or as
- A workshop offered
by organizations serving youth.
Money Smart News Success Stories of interest include:
Additional Information on the Computer-Based Scenarios
An optional computer-based interactive scenario is available for each module.
Each of the scenarios takes the students through financial decisions that
face young adults. As students complete each scenario, they are evaluating
current knowledge or knowledge learned through the instructional materials
and classroom activities. There are no right or wrong answers; students choose
the best answer and then see how that decision has affected the characters'
financial status. Each scenario takes approximately 10 minutes to complete.
The files for the scenarios are included on the instructor-led CD for teachers
to download to a network drive or to individual classroom computers.
Need for Youth Financial Education
Financial education enables young people to start positive habits early such
as saving money and budgeting, as well as avoid making “wrong” decisions
that could result in years of financial pain, such as incurring an unmanageable
level of credit card debt. Demand has grown for a version of Money Smart
to combat the lack of financial literacy skills among youth. Surveys indicate
that a minority of surveyed teens understand how credit card interest and
fees work, how to balance a checkbook, or know how to check the accuracy
of a bank statement. Additionally, studies indicate that a sizeable majority
of college students have at least one credit card, as well as have incurred
several thousand dollars in credit card debt while in school. Fortunately,
an opportunity exists to deliver critical information to a largely receptive
audience, as a recent survey indicated that a large majority of surveyed
teens are eager to learn more about how to manage and handle their money.
The curriculum is distributed
on CD: click here to order
it.
For questions or comments about the content or operation of the Money
Smart for Young Adults CDs, please email communityaffairs@fdic.gov .
For information on using the curriculum in your community, please contact
your FDIC
Community Affairs Officer.
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