(Washington, D.C., Wednesday, February 19, 2020) – In celebration of its 30th anniversary, the American Financial Services Association (AFSA) Education Foundation is actively promoting its free online personal finance course entitled MoneySKILL.
Since its launch in 2002 as one of the first online personal finance courses, over one million educators and students have utilized the program.
MoneySKILL is designed to educate students about money management fundamentals and provide them with the skills and knowledge necessary to make sound financial decisions and to avoid the pitfalls of over-indebtedness, repossession, home foreclosure, and bankruptcy.
The curriculum consists of 37 modules in English and Spanish and is available at no cost to educators and their students. Additionally, the foundation offers regular teacher training and on-demand technical support.
The original MoneySKILL author, Dr. Lewis Mandell, conducted an impact evaluation exploring the effectiveness of the course. One of the main findings was that, of over 65,000 students completing the course between 2013 and 2017, average post-test scores showed a 50% gain in knowledge from average pre-test scores. These results demonstrate that MoneySKILL is an effective vehicle for educating students on personal financial management.
The most profound increases in personal finance knowledge were found among students from disadvantaged backgrounds.
Personal finance courses such as MoneySKILL have additional benefits beyond knowledge gains. A number of studies have found associations between financial education, improved financial behaviors, and college graduation.
MoneySKILL is a comprehensive and easily customizable online personal finance course that educators can access free at www.moneyskill.org.
The AFSA Education Foundation was established in February 1990 and is celebrating its 30th year as a nonprofit organization. The mission of the foundation is to educate consumers of all ages on personal finance concepts and help them realize the benefits of responsible money management.