Financial Literacy Learning Activities = Up to 80% Student Retention Rates
 
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Financial Literacy Learning Activities = Up to 80% Student Retention Rate

Interactive class activities for financial education course
increases retention rate up to 80 percent among students in
classes of learning and applying sound financial skills.

San Diego, CA. Financial education teachers, including the Institute of Consumer Financial Education (ICFE) Certified Instructors for 'The Money Instruction Book' utilize meaningful classroom activities as much as possible. This is because of different learning styles and retention of lesson information among students when the classroom presentations consist of audio only, versus a video presentation, or versus a hands-on classroom activity.

When there are only audio presentations in a class, most studies conclude the student retention rate is
only about 20 percent. When there is a visual presentation included, such as a PowerPointshow (PPs),
the retention rate doubles to about 40 percent. When there is an activity for the student or class to
participate in, the retention levels of the lessons rocket up to about 80 percent.

The award winning, nonprofit ICFE, based in San Diego, trains and urges all of their Certified
Instructors who teach the semester long course, and ICFE certified Credit Report Reviewers, who often put on classes for consumers about getting and reading their own credit reports, to extensively utilize interactive class activities.

In addition to the ICFE's training manuals and classroom activity sheets which are included in the
Instructor's Guide, the ICFE points them to (http://www.addsup.org) a unique web site from Cornell
University's Cooperative Extension Service.

Adding It Up (www.addsup.org) is a highly interactive web site designed to engage young people and
adults in the process of learning and applying sound basic financial Practices. Developed by Cornell
University and Cornell Cooperative Extension, Adding It Up promises to be a valuable (and fun!) tool
for teachers and educators to use in making financial education come alive for their students. It can be
used as a self-teaching tool as well.

The web-based Adding It Up curriculum explores a variety of money management topics, including:
values and their impact on money decisions, practical skills for handling money, advertising and its
impact on consumer spending, credit, insurance, consumer rights, and more. The site is divided into
two sections: one for middle and high school-aged youth and the other for adults.

The youth version, which focuses on pre-financial independence issues, is organized around a travel
theme. Visitors to the site travel through the fictional town of 'Moneyville.' There are eight
neighborhoods in Moneyville, each corresponding to one of the main financial topics, such as Money
Sense (practical skills for handling money) or Credit.

Within each neighborhood, there are streets which correspond to the interactive tasks designed to teach
money skills, such as Activities, Worksheets, Case Studies, Vocabulary and Quizzes.

As the site visitor enters Moneyville, he or she is introduced to several traveling companions. These
individuals' lives and money personalities are woven throughout the site in the form of money tips and
through case study examples. This strategy was used to make the site engaging, inviting and realistic to teens.

The adult side is organized in the same way, but with a more sophisticated look and tone. The topic
headings are the same, but the content is in more depth and examples use adult spending categories and
more complex financial decisions. The case studies are based on the same individuals who were
introduced in the youth side, but they have aged and are dealing with financial issues encountered by
young adults.

The site is written at a fourth or fifth grade reading level. The adult side has been crafted to support
other financial education and workforce development programs being delivered through Cornell
Cooperative Extension, but also to stand alone for visitors who happen to find the site independently,
or for students who were introduced to the youth side, grow older and find themselves needing more
advanced financial information.

Adding It Up is currently undergoing pilot-testing and evaluation by classroom teachers and
community educators. The evaluation process focuses on teachers' perceptions of the site's usefulness
and effectiveness in engaging students and enhancing learning. This testing and evaluation phase, and
any resulting revisions to the site, will be complete by summer of 2004.

For more information on Adding It Up, contact Barbara Bristow (bjb4@cornell.edu or 607-254-5282)
or Dave Norris (dn55@cornell.edu or 607-255-2654) at Cornell University. .

If you have a question for the ICFE Board of Educational Advisors, please visit www.financial-education-icfe.org.
@ www.financial-education-icfe.org.
 
 

About the ICFE:

The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation).  The ICFE is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely. 
The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its education programs and Resources. It publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.

The ICFE became an official partner with the Department of Defense/Financial Readiness Campaign in June of 2004.The ICFE was an active partner in the California Student Debt Resource Awareness Project (CASDRAP) which resulted in a new web site: (studentdebthelp.org).  CASDRAP disbanded in 2010, shortly after the web site project was completed.  In 2011 the ICFE assumed the single sponsorship of the (studentdebthelp.org) web site and is now responsible for its content and operation.

The ICFE is also an on-line help for consumers who spend too much.  ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.

Visit the ICFE's other web sites at: www.financial-education-icfe.org and studentdebthelp.org.  Both sites helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G,  a free eNews, and an online resource center for students, parents and educators, plus financial education learning tools and a book store.

About the ICFE:

The Institute of Consumer Financial Education (ICFE), founded in 1982 by the late Loren Dunton (creator of the 'certified financial planner' (CFP) designation) and it is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely. The ICFE trains and certifies Personal Finance Instructors for its own curriculum. It also trains and certifies Credit Report Reviewers and Identity Theft Prevention Specialists.

The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its education programs and Resources. It publishes the Do-It-Yourself Credit File correction Guide, now in its 16th printing and has distributed over one million 'Credit/Debit Card Warning Labels' and 'Credit/Debit Card Sleeves' world wide.

The ICFE became an official partner with the Department of Defense/Financial Readiness Campaign in June of 2004.

The ICFE is also a partner in the national Jump$tart Coalition for Financial Literacy and the California Jump$tart chapter. The ICFE staff is also active with San Diego Saves, an offshoot of America Saves, and the California Student Debt Resource Awareness Project (CASDRAP) (studentdebthelp.org).

The ICFE's on-line help for consumers who spend too much was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from 'The Money Instruction Book,' a course in personal finance, positioned to become among the premier programs in the new bankruptcy and debtor education initiatives.

The ICFE Web site at: www.financial-education-icfe.org helps consumers with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and videos and how to teach children about money. Other ICFE services include a free eNews, and an online resource center of financial education learning tools, including videos, books, software and personal finance courses.

 
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