Financial Literacy Education for Hispanic Families in OutlooK-12 Magazine

by Ricardo Castillo in

The Council for Economic Education’s program for Hispanic Students and Their Families provides a platform for increasing financial literacy in Hispanic communities. Using content
from the Council for Economic Education’s Financial Fitness for Life series, the program involves both professional development for teachers and training and information in Spanish for parents so that they can work with their children. By connecting directly with the parents, the program extends learning to the entire family. It also works to engage community
leaders and volunteers to help with these efforts so that it provides a cultural perspective to
financial decision-making. To date, more than 1,000 K-12 teachers and nearly 3,000 parents have participated in this program in nine states, and the results have been overwhelmingly positive. 95 percent of teachers have stated they were “highly satisfied” with the workshop content, and learning assessments show marked gains in student achievement. In California nearly 1,000 students participated in knowledge assessments, and student scores doubled on average from pre-test to post-test. 100 percent of parents surveyed said they were very or extremely likely to do the following as a result of participating in the workshop:

 • Use material provided to discuss financial concepts with children at home 

• Set up a bank account in which to save money 

• Develop and keep a family budget In the words of one parent participant, “Es muy importante,
porque tomando conceincia de como aprender ahorrar para el mañana.” (This is very important,
because we are making a conscious effort to learn how to save for tomorrow.)