New EverFi research finds that 9 out of 10 parents are talking to their kids about money, but fewer than half of parents feel well prepared to have these conversations.
While parental education is an important piece of the equation, schools-based financial education is critical to filling in the gaps and ultimately preparing students for the decisions they’ll need to make as adults. But for many educators, the challenge of selecting the right financial education curriculum for their students can feel daunting, with a wide range of providers and few guidelines for how to identify the most promising programs.
To address this challenge, the Consumer Financial Protection Bureau (CFPB) has developed the Youth Financial Education Curriculum Review Tool, a resource for those who make decisions about educating today’s students. The tool provides an evidence-based framework for reviewing and comparing financial education curricula across four key dimensions: Content, Quality, Utility and Efficacy.
Earlier this spring, the CFPB hosted a webinar to unveil the curriculum review tool and invited EverFi to share how we’re using it to assess our K-12 financial education curricula. We were proud to report that our courses performed exceptionally well, receiving the highest possible score on the Content and Quality metrics, and strong results across other key dimensions.
For a recap of how EverFi’s K-12 courses performed, view the full CFPB webinar recording: Evidence-Based Insights: Tips for Strengthening Financial Education Curriculum (or view a shorter recap here).
The Curriculum Review Tool has also proven a valuable resource in helping inform future course improvements. For example, we are building supplemental materials to help teachers adapt lessons for students with cognitive or intellectual disabilities and expanding support for multilingual implementation.
On #FinHealthMatters Day, let’s focus on developing financial education solutions that will truly move the needle for students and families nationwide. We’re grateful to the CFPB for putting a stake in the ground and creating a yardstick by which we can measure programs – and progress – in the field.