During the 2016-17 academic year, four local Ohio high schools were utilizing NCB’s Money Matters Program, a free, digital financial education program. NCB has partnered with leading education technology company EverFi, Inc., to bring this interactive, web-based financial education program to over 1,280 students since 2013.
In 2017, the program has already reached more than 250 students.
“NCB is proud to have empowered so many students with the essential skills needed to make sound financial decisions,” Deb Jones, NCB Ohio, co-president said. “It is crucial that our younger generation understand important aspects of personal finance like the difference between wants and needs and how to make a budget. This program is providing students with the knowledge needed to successfully navigate the increasingly complex financial world we live in.”
The 254 students reached through NCB’s Money Matters program completed 1,470 hours of learning during the 2016-17 school year. Students’ understanding of key financial topics rose by an average 37 percent based on pre- and post-assessment scores. Among the valuable topics covered were saving, banking, investing, renting versus owning, credit scores, taxes and insurance, and consumer fraud.
“The program engages and interacts with students while placing them in real-world scenarios,” said a teacher using the program. “Students truly appreciate learning about topics that they can and will use in their day-to-day lives.”
According to recent EverFi survey data, 87 percent of parents talk to their kids about money, but only 43 percent describe themselves as well prepared to teach their kids about money, and many do not discuss more complex concepts like credit, financing higher education, or building wealth, focusing instead on values and rules-of-thumb like saving, managing spending, and avoiding debt. These statistics support the need for financial education in a school setting, where all students have an equal opportunity to learn essential financial skills. NCB’s Money Matters program is implemented in a co-curricular basis, providing students with the opportunity to develop healthy financial attitudes and behaviors in a classroom setting.
Submitted by Heather Cummings, NCB.