We’re proud to partner with educational institutions and organizations to provide innovative educational programs that use real-world simulations of our core financial products, TurboTax, QuickBooks and Mint,” said Dave Zasada, Vice President, Corporate Responsibility, Intuit. “Intuit is committed to increasing career readiness and helping students build a prosperous future by developing 21st century skills through entrepreneurship and personal finance education. They were also more likely to develop better financial habits after the workshop, 63% of students reported tracking their bills and expenses compared to just 39% prior to the workshop. Students using Mint in their lessons were more likely to have a positive overall experience and feel more confident that they could achieve financial goals. Additionally, use of dynamic tools, such as Mint, as a component of engaging, relevant instruction provides a greater benefit than use of Excel with the same instruction. Results indicated that students who participated in the financial education workshop were 18 percentage points more likely to feel prepared to talk to their parents about money matters, compared to no change for those who did not participate.
The study found that students are more likely to engage with content that aligns with their concerns and circumstances. GFLEC conducted the experiment using Mint, Intuit’s personal financial management application, in comparison to Excel, in order to understand which financial education tools are effective at improving students’ financial knowledge, attitudes, and behavior. This new study, conducted with 161 GW students, shows that financial education combined with interactive tools and real-world simulations can improve confidence and shape stronger personal financial behaviors. While the study included only a short, half-day workshop, we found that by integrating tailored content with a dynamic tool, students realized meaningful improvements in their confidence and preparedness in money matters.” “This study helps provide insights into effective financial education.
"Young adults today face more complex financial decisions than ever before and need to be financially literate in order to fully participate in society,” said Annamaria Lusardi, Founder and Academic Director of GFLEC and University Professor at GW. Many educational institutions struggle to implement personal finance courses into their curriculum and many of those that do find a lack of student engagement. Financial education can effectively prepare students for their financial lives, equipping them to build greater financial resilience, better manage debt and achieve more wealth in retirement. Many students today leave school and enter the work world without having attained even basic levels of financial literacy.
10, 2021) – A new report from the Global Financial Literacy Excellence Center at the George Washington University School of Business and Intuit, the global financial management platform, offers findings that can help educators better create effective financial education programs.
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