Money Savvy Kids Pilot Project
Countless studies show the need to help young people establish sound financial habits early in life. After doing extensive research on financial literacy programs across the country, DFI administered a financial literacy pilot program for 50 elementary school classrooms.
The department worked with Money Savvy Generation, a non-profit organization based in Chicago, to introduce the Money Savvy Kids curriculum to Washington Schools. Money Savvy Kids is an eight-week curriculum that helps students learn the essentials of money management – saving, spending, donating, and investing. It teaches basic personal finance by incorporating math, reading, social studies, science, art, and music. The curriculum meet Washington Essential Academic Learning Requirements for Social Studies and Economics.
Implementation
The pilot was the most expansive project of its kind in the nation for both Money Savvy and a state regulator. DFI helped recruit 50 geographically and socio-economically diverse elementary classrooms throughout Washington State. The pilot project was incorporated into teaching plans during the 2004/05 school year.
In preparation, 43 teachers representing 50 classrooms attended training seminars. During the training, each teacher received an "Instructor Materials Kit", which included: a 136-page Teachers Handbook with complete scripting; a CD-ROM with 109 color presentation images, a Money Savvy Kids song and four newsletters; one blue Money Savvy Pig for the teacher to use in discussions about money choices; and one Student Activity Workbook over viewing the ABCs of money management and with activities for every lesson. An important part of Money Savvy Kids curriculum is the Money Savvy Pig -- a four slot piggy bank. Each child participating in the program received a Money Savvy Pig.
Results
The pilot project included pre and post testing (available in English and Spanish) of the students to measure the effectiveness of introducing a financial literacy curriculum in the classroom. In addition to testing the children, DFI created a survey to measure the impact of the program at home. With this additional test, DFI hoped to demonstrate that including financial literacy programs in the school system can have a positive impact on the economic potential of families in our state.
More Information
- Parent Survey Results
- Feedback from Teachers
- Complete Pilot Project Report (PDF)*
- School Stats (PDF)*
- Money Savvy Website
* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.
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