Step 3: Develop recommendations
How can we do a better job raising financial literacy among students?
Once the need for financial education has been established and information on program implementation has been collected, the third step is to analyze the information and develop recommendations for improvement.
Step 2: Check implementation
What students do we serve, and what kind of financial education do we provide?
While the first step of evaluation provides information on the need for financial education in the community, the second step establishes baseline information on how the program is being implemented and who it is impacting.
Step 1: Assess need
Is financial illiteracy a problem in my community or state?
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 research behind the step-by-step guide
The framework used in this toolkit is based on five tiers of evaluation, originally developed by Francie H. Jacobs in The Five-Tiered Approach to Evaluation: Context and Implementation.
Learn how states require a course in personal finance
Bonus Promising Practice: Require a course in personal finance. A graduation requirement is the most effective approach because it ensures that all students leave high school with the tools needed to navigate the complex financial decisions facing them.
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Financial Education Works!
A recent study shows that financial education has a significant impact on financial knowledge and financial behavior.
Where does your school stand?
Curious if your school or district offers financial education? And if so, does it offer enough and how does it compare to other programs in the area, state, or even the country? Check out these links to find out what schools in the U.S. offer financial education.
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