AFI Training Toolkits on the FDIC Money Smart Curriculum
The AFI Resource Center is pleased to provide a collection of AFI Training Toolkits specifically designed to supplement the FDIC Money Smart Curriculum and to customize the financial education curriculum for IDA project participants. This series of AFI training toolkits will include 10 installments to complement each of the 10 modules of the FDIC Money Smart Curriculum.
FDIC Money Smart Curriculum
Financial education is often described as one of the most important elements of an IDA project. Financial education not only helps participants to save successfully in their accounts while they are enrolled in the IDA project, but also gives them the skills to maintain the asset they purchase with their IDA savings.
When financial education is delivered in a safe and supportive environment in a way that connects with participants, it increases participants’ financial management knowledge, skills, and confidence.
All AFI grantees are required to use part of their Federal AFI grant to assist their participants in obtaining the skills (including budgeting, credit, and counseling skills) and information necessary to achieve economic self-sufficiency. Most AFI projects offer some level of classroom-based education.
The Money Smart Curriculum is one of the most widely used adult financial education curricula. Developed by the Federal Deposit Insurance Corporation (FDIC), Money Smart is flexible, and it can be easily reproduced or modified for different target audiences.
There are two versions of the Money smart curriculum – an instructor-led and computer based instruction. AFI grantees can obtain complimentary copies from the AFI Resource Center.
Instructor-LedThe instructor-led version is a curriculum used in classroom style settings, and can be great for
AFI participants. The curriculum is composed of 10 separate modules, each of which contains:
The instructor-led version of Money Smart is available in English, Spanish, Chinese, Korean, Vietnamese, and Russian and there is also a version for the visually impaired.
The computer-based version of the Money Smart Curriculum enables participants to work through the curriculum at their own pace, using a computer. It includes the same 10 modules as the instructor-led curriculum. Grantees and participants can access it online or via CD-ROM. This version is available in English or Spanish.
Following is a brief description of each Money Smart module:
Money Smart Module 1 – Bank on It
Money Smart Module 2 – Borrowing Basics
Money Smart Module 3 – Check it Out
Money Smart Module 4 – Money Matters
Money Smart Module 5 – Pay Yourself First
Money Smart Module 6 – Keep it Safe
Money Smart Module 7 – To Your Credit
Money Smart Module 8 – Charge it Right
Money Smart Module 9 – Loan To Own
Money Smart Module 10 – Your Own Home
For more information on Money Smart or the FDIC, click here to access the FDIC's Money Smart web site.
AFI training toolkits – supplemental tools for Money smart curriculum
The AFI resource center has partnered with the FDIC to make the Money smart curriculum more accessible to AFI grantees, their subgrantees, and their partners. The AFI Resource Center has developed special training toolkits for each Money Smart module to help project staff teach the curriculum to their IDA project participants.
Each AFI Training Toolkit focuses on one of the 10 Money Smart Curriculum modules. Each toolkit begins with an introduction describing how the module is organized, the content and objectives of the module, and the instructor aids provided for each module. A list of key terms and definitions used in the AFI training toolkits is provided here.
In addition, each toolkit includes AFI Supplemental Training Tools for the associated Money Smart module that can be used by project staff when teaching the Money Smart Curriculum to IDA participants. It offers suggestions on how to tailor the module for different target audiences of IDA participants and how to elaborate on the content to cover related topics or the same topics in a more advanced way. Click here for a description of target audiences of IDA participants.
To get the most benefit from the AFI Training Toolkits, obtain a copy of the FDIC Money Smart Curriculum and become familiar with its contents. To order a complementary copy of the FDIC Money Smart Curriculum, click here.