The first stage of an evaluation justifies the need for financial education, which drives the development of the mission, objectives, and characteristics of the resulting financial education program.
The information collected in this first step justifies a need for financial education in your state or community.
Talk to students and parents to get a better understanding of what kids want to know and what they are interested in.
Review the Learn section of the Fast Lane website to understand financial literacy levels among students.
This page is full of research and stats on why financial education matters.
Gather more information on the current need for financial education by talking to teachers and school administrators in your state or community.
Broaden your perspective, and review relevant economic indicators in the community, including student debt levels, bankruptcy rates, and retirement savings. Prosperity Now Scorecard provides information on different measurements.
Prosperity Now Scorecard provides information on different measurements of prosperity at the state or district level. You can search by location or issue.
Enhance your needs assessment with demographic information on population size, geographic distribution, average basic educational attainment, family structure, job and career opportunities, etc. All of these factors help inform the implementation of financial education programs in schools.
Extend the scope of the needs assessment and compare data with national averages. For example, compare the financial capability of individuals in your state to the U.S. average, using data from the National Financial Capability Study, or see the Council for Economic Education Survey of the States for information on the current status of personal financial education across the U.S.
FINRA Investor Education Foundation conducts a survey every two years on the financial capability of U.S. adults.
Read the Council for Economic Education 2018 report on the different levels of implementation of personal finance and economics across the U.S.
The National Endowment for Financial Education has developed five key factors for effective financial education.
The toolkit includes resources, games, and activities to get you started with personal finance topics.
The Consumer Financial Protection Bureau developed a guide geared toward policy makers to promote financial education in K-12.
Additionally, the collected information can help indicate the best use of limited resources, how to match programs with needs, and ways to inform program planning. This stage can be completed before program implementation or on an ongoing basis to adapt to changes in the community and state.
