American Financial Services Association

RELEASE | MoneySKILL®, Personal Finance Course Demonstrates Effectiveness

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RELEASE | MoneySKILL®, Personal Finance Course Demonstrates Effectiveness

Radio Media Tour Highlights AFSA Education Foundation’s Value

WASHINGTON (February 19, 2020) – – The American Financial Services Association Education Foundation (AFSAEF) marks its 30th anniversary this year; to celebrate it is promoting its free online personal finance course, MoneySKILL, and sharing important research results.

Launched in 2002, MoneySKILL has been used by more than one million educators and students in all 50 states and internationally to educate students about money management fundamentals and to provide the skills and knowledge necessary to make sound financial decisions. The course’s 37 modules – available in English and Spanish – are offered at no cost to educators and their students. The foundation offers regular teacher training and on-demand technical support.

A recent study of the program found that an analysis of 65,000 users who completed the personal finance course work between 2013 and 2017, showed a gain in knowledge of 50% higher than pre-course test scores. Furthermore, a longer-term evaluation on a smaller subset of MoneySKILL users showed a more profound gain in knowledge for students from low-income households.

MoneySKILL spokesperson Barbara O’Neill, Ph.D., CFP®, AFC®, owner and CEO, Money Talk: Financial Planning Seminars and Publications, is today (February 19) participating in a radio media tour promoting the MoneySKILL program. Of the eight states in which she is scheduled to be heard, just one, North Carolina, requires completion of a personal finance course in order to graduate. Nationwide, 21 states require some form of financial education. Radio networks or stations interested in interviewing Dr. O’Neill should contact the AFSA Education Foundation (contact information below).

Personal finance courses such as MoneySKILL have additional benefits beyond knowledge gains. There is a growing body of evidence that beneficial behavioral methods that are learned when young may be “forgotten” when measured by tests of knowledge in intervening years, but are likely to “kick in” during adult years when individuals are compelled to make important personal decisions.

The AFSA Education Foundation was established in 1990. The mission of the foundation is to educate consumers of all ages on personal finance concepts and to help them realize the benefits of responsible money management.

February 19th, 2020 by