From Financial Literacy to Financial Capability

Financial literacy is determined by specific knowledge regarding how money works. EVERFI seeks to help educators guide students from foundational knowledge to financial capability, and ultimately to financial well being – the point where students are enabled with both the ability and willingness to make informed financial decisions with positive consequences on the rest of their lives.

EVERFI’s Financial Literacy offerings help educators prepare students to become financially capable by creating a space for them to:

  • Apply the financial concepts they are taught through earlier instruction.
  • Reflect on their individual financial values and attitudes as they make choices.
  • Experience the consequences of their choices in a realistic but risk-free setting.
  • Practice making choices that reflect their values and lead to the outcomes to which they aspire.

This research insight is based on the responses of 18,480 students surveyed in January-February 2018 who completed the EVERFI – Financial Literacy course across 47 states. Its purpose is to explore the relationship between financial knowledge and confidence as exhibited through the pre- and post-lesson test scores of students across elementary, middle and high school while focusing specifically on the growth observed in those who have completed the high school level course.

It can be difficult to ascertain the direct effect of financial education courses as there are many other factors that will affect students’ future actions. However, these results indicate an overall positive impact on the intention created in students’ perspectives toward future financial action.

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