Case Study

Empowering 9th Grade Students for Financial Success with MYFIsavvy

MYFIsavvy, in collaboration with a high school, implemented a tailored personal finance education program for 9th -12th grade students. This initiative aimed to equip students with essential financial skills and prepare them for the challenges of college and the real world. The program incorporated MYFIsavvy's personal finance education curriculum and the book "Money Will Grow On Trees: Nurturing Your Financial Future," authored by MYFIsavvy's Chief Education Officer (CEO).

Objective

The primary goal was to enhance the financial literacy of 9^th – 12^th grade students, providing them with the knowledge and skills necessary for effective money management as they transition to college and adulthood.

Implementation

MYFIsavvy's Curriculum

MYFIsavvy delivered a comprehensive personal finance curriculum tailored for the students. The curriculum covered key topics such as budgeting, banking, credit, and college financial planning. The curriculum included interactive workshops led by financial professionals and academic SMEs. These sessions offered practical advice on college financial planning, student loans, and the importance of building a strong financial foundation.

Book Integration

Money Will Grow On Trees” served as a supplementary resource, reinforcing important financial concepts introduced in the curriculum. The book’s relatable stories and scenarios provided practical insights into real-world financial scenarios.

Results

Knowledge Enhancement

Pre- and post-assessments revealed a significant increase in students' understanding of complex financial concepts. The percentage of students who could accurately explain the impact of credit scores on loan eligibility, for example, rose from 35% to 80%.

College Financial Preparedness

Surveys conducted before and after the program showed a substantial improvement in students' confidence in managing finances during college. The percentage of students feeling well-prepared for college-related financial decisions increased from 40% to 85%.

Budgeting Skills

Students demonstrated improved budgeting skills, as evidenced by their ability to create realistic monthly budgets. The percentage of students effectively budgeting for their personal expenses increased from 25% to 70%.

Increased Financial Confidence

Teachers and students reported an increase in overall financial confidence. Students expressed a greater understanding of financial concepts and felt more empowered to make informed decisions.

Real-World Application

Students showcased an ability to apply financial concepts to real-world scenarios. They discussed making informed choices about college expenses, understanding financial aid options, and planning for future financial goals.

Preparedness for Adulthood

The results emphasizes the effectiveness of early financial education in building the financial confidence and skills necessary for success in higher education and adulthood. This case study emphasizes the importance of holistic financial education in shaping responsible and informed financial behaviors among young students.