Comprehensive research study to analyze the financial behavior, attitudes and outcomes of urban youth, particularly when influenced by WealthyLife games and training

1. The Financial Empowerment of Urban Youth
Research Study
Promoting Financial Capability and Equality
_______________________________
The Wealth Factory 0

2. ANALYTIICAL FRAMEWORK
Methodology
• In partnership with the Charter School
Development Corporation and Building Hope,
the WealthyLife program was implemented
and tested at three DC Charter High Schools.
• The WealthyLife education technology was
designed by The Wealth Factory’s talented
team of in-house technologists based on
usability and feasibility feedback from over
2,000 customer discovery interviews.
• Design was altered six times based on
feedback from University of Maryland
education technology professors and the Art
Institute of Washington game professors.
• The study included 150 high school students
of mixed grades, sexes, ages and learning
needs/disadvantages. This sample is referred
to as the “students” in the study.
• Quantitative analysis was conducted via a 10
min online survey distributed to the students.
11% response rate received.
• Qualitative analysis was conducted among 30
key opinion leaders, principals and teachers.
• To ensure our ability to identify any
meaningful differences among learning needs
while utilizing our WealthyLife education
technology, we selected three schools with
different qualifications – one with regular ed
students, one with special needs students,
and one that was mixed.
• In this study, the term “urban youth” refers to
young people who are between the ages of
10 and 24,and who are undergoing key life
transitions with respect to learning, work,
starting a family, health, and citizenship
• This study was conducted from October 1,
2014 – March 15, 2015.
Friendship
• Principal: Mrs. Peggy Jones
• Teacher: Mr. Tashik Faruq
• Class: Two Principles of Finance classes
• Time: Every Monday morning
• Grades: Juniors and Seniors
• Requirement: Required fin lit elective
• Resource: in-class Chromebooks
• Learning Needs: Regular and Special Ed
WMST
• Principal: Mrs. Diagne
• Teacher: Mr. Willie Ingram
• Class: After school mixed group
• Time: Every Thursday afternoon
• Grades: Juniors and Seniors
• Requirement: Extracurricular activity
• Resource: Computer lab
• Learning Needs: Regular ed
Options
• Director: Mrs. Shannon Hodge
• Teacher: Ms. Mauwena DeSouza
• Class: Advisory period
• Time: Every Mid-day Wednesday
• Grades: Freshmen thru Seniors
• Requirement: Optional advisory elective
• Resource: Computer lab

3. EDTECH DEVELOPMENT AND IMPLEMENTATION BEST PRACTICES
Participatory Design
Based on learning sciences research, we
suspected that engaging in the participatory
design process might also influence
participants’ learning and engagement with
financial literacy topics. Learning sciences
research has found design to be a powerful
tool for promoting learning.
We wanted learners to find WealthyLife
useful for learning about life-relevant topics,
and we wanted to help them learn in a way
that promotes their practical application of
financial topics in everyday life situations.
Engaging youth in the design process
certainly increased their financial aptitude as
they felt it was important to understand the
financial principles that influenced the game
in order to help improve it.
Cooperative Inquiry
Cooperative inquiry is a participatory design
approach to engage users as design
partners. We used this iterative design
approach to refine the courseware.
Once we gathered information on financial
capability and technology needs for the
product, we leveraged those findings to
conduct additional research on optimizing
the learning tool for implementation into the
classroom.
Think Aloud
Think aloud studies were the most effective
method for discovering and optimizing
improvements.
During the pilot study, we set aside 10-20
minutes of each class period to allow
students to think out-loud. This means they
were able to present any questions or
comments that they had on their mind while
readying, listening, participating in an
activity or playing the game.
Surveys
Students participated in pre-post
quantitative research studies. At the
beginning and end of the program the
students completed 10 min online surveys
comprised of 20 core financial literacy and
demographic questions.
This data assessed the financial decisions,
attitudes, perspectives and behaviors of
students pre-post participating in the
WealthyLife program.
Surveys were programmed, disseminated
and analyzed using Qualtrics market
research software. Responses were analyzed
with cross tabulations for gender and family
structure.
Interviews
Thought leadership interviews were
conducted with over 30 key opinion leaders
on education, technology, innovation,
gamification, financial literacy, urban
development, and economic stability.

4. SUMMARY
Summary
The Wealth Factory’s benchmark study, The
Financial Empowerment of Urban Youth,
reveals some important information about
best practices for teaching urban youth
financial literacy in challenging
environments, with unique learning needs
and by leveraging education technology.
The study takes a look their financial
attitudes, decisions, perspectives and
behaviors of urban youth in general as well
as those that have completed the
WealthyLife financial literacy program.
Key Highlights
WealthyLife games make learning finance
fun and easy
WealthyLife teaches students financial
literacy and workforce development through
education technology games. The program
walks participants from birth to retirement
in 12 interactive financial simulation
modules to help students exceed the
Common Core Personal Finance Standards
and receive real-world workforce
development.
WealthyLife has huge impact on financial
decisions
Students feel they are at least 42% more
likely to make wise financial decisions and
understand their financial choices after
playing WealthyLife games. Astoundingly,
they also feel 85% more likely to graduate
high school.
High measures for satisfaction and
convenience
Students are highly satisfied with
WealthyLife financial literacy games, finding
them a pleasure to use and convenient.
Majority feel the program impacted financial
attitudes, perspectives, decisions and
behaviors.
Opportunity starts with financial literacy
and credit
Good credit management is the foundation
of financial stability. It’s important to
develop financial plans with urban youth to
help connect long term goals with their
current status.
Investment management motivates
responsibility
Teaching urban youth how to make wise
investments is one of the most empowering
financial lessons they can receive. Many find
it exciting to learn about stocks and enjoy
honing the skill.
Stock market exposure raises financial
comfort
Hands on interactions with financial
principles and institutions eases urban
youth’s tension towards learning finance. At
the same time, it raises their interest to
understand that they can purchase loved
companies and brands for financial security.

5. SUMMARY
Higher education is the catalyst for financial
independence
Higher education is unquestionably the best
method for elevating urban youth’s financial
attitudes, behaviors and self-sufficiency.
Helping them to associate education with
wealth building is key.
Students must strategically prepare for
higher education
Concrete higher education action plans
should be developed early in scholastic
tenure to sufficiently prepare urban youth
for post-secondary attendance and costs.
Completing a FAFSA and college application
is a great first step towards introducing
students to the process.
WealthyLife increases likelihood to start a
business
Students find learning the steps to develop a
startup to be exhilarating with WealthyLife,
increasing their likelihood to start a
business. Understanding the lean
methodology process and how to build a
successful business model at younger ages
can help breed stronger entrepreneurs for
the next generation.
Financial education technology demand
exceeds supply
Traditional financial literacy programs lack
engagement and product evaluations.
Teachers desire an easy to use product that
is fun, comprehensive, tracks performance
metrics and provides custom learning. Better
partnerships are needed to help connect
education technology companies with local
schools to pilot and evaluate programs.
Financial navigation is a prerequisite for
development
Holistic learning helps shape students
autonomy. Students with learning disabilities
are typically financially neglected and
require additional care.
Financial literacy is not one size fits all
Historically, economic disparities have
limited urban youth from financially
succeeding due to environmental challenges
and resources. While financial capability is a
top priority for them, circumstances often
limit their aspirations. Bold, innovative
education can help provide equal access to
financial literacy and prosperity in urban
schools.
Legislation has the power to financially
emancipate youth
A strong and well leveraged financial literacy
ecosystem is needed in each community to
effectively financially empower all urban
youth. Well balanced and structured policies
for innovation can help build strong, fiscally
responsible cities.

6. WEALTHYLIFE GAMES MAKE LEARNING FINANCE FUN AND EASY
Financial Edtech Changing the Game
WealthyLife teaches students financial
literacy and workforce development through
edtech games.
The program walks participants from birth to
retirement in 12 interactive modules that
interactive activities and financial simulation
games to create highly engaging blended
learning experiences. The entire program is
designed to function as a game.
Each module is designed with back-end
algorithms to simulate a STEM Personal
Finance Common Core Standard.
Educators can choose from a variety of
games, tools and materials to customize
their lesson plans for individual learning
needs. The system provides tailored
performance tracking, real-time grading,
self-paced assessments, and interactive
content.
Finance Made Easy
WealthyLife’s mission is to provide equal
access to quality financial literacy across the
world, with a focus on K12 urban youth.
The games make financial literacy fun. The
program works well with students that live
in challenging, underprivileged or rural
environments. Students that traditionally
have problems reading, writing, adding or
even focusing have been able to excel in
learning better financial management.
After completing the program, most
students significantly adjusted their financial
perspectives and behavior with a new focus
on working hard in school to build wealth.
WealthyLife Modules
• Brain Up™ –Apply cognitive thinking and
systematic decision making
• Groundbreakers™ – Create academic and
career plans to reach income potential
• Bear Basics™ – Organize personal
finances, budgeting and cash flow
• Sam’s Market™ – Understand taxes and
charitable donations
• Whack-A-Broker™ – Develop a diversified
investment strategy for personal growth
• 401 King™ – Form a savings, emergency
and retirement plan
• Wheel Deals™ – Use rational decision
making to make auto purchases
• Adonis Path™ – Choose healthy and
environmentally friendly financial options
• Startup Me™ – Learn how to start and
launch a small business
• Rich Estates™ – Evaluate real estate
decisions that build wealth
• Credit Stacker™ – Recognize credit
reports, financing terms and predatory
lending options
• Charging Wall Street™ – Use appropriate
and cost-effective risk management
strategies

7. After Playing WealthyLife Games,
Increased Likelihood to…
Post WealthyLife (All Respondents)
% All
Graduate high school +85
Own a home +76
Open a savings account +72
Save and invest +69
Make smart financial goals +67
Manage your money effectively +66
Apply for FAFSA and college +63
Start a business +63
Use credit wisely +60
Understand your financial choices +42
WEALTHYLIFE HAS HUGE IMPACT ON FINANCIAL DECISIONS
Significantly Better Financial Goals
After playing WealthyLife games, students
noted that they are at least 42% more likely
to make wise financial decisions and
understand their financial choices.
Best of all, they are substantially more likely
to graduate from high school (+85%)!
Opening a savings account (+72%), saving
and investing (+69%) as well as making
smart financial goals (+67%) were other top
behavioral changes revealed.
Students Recommend WealthyLife
One in two (52%) would recommend
WealthyLife to other teachers for financial
literacy. Males (58%) in particular are more
likely to recommend than females (43%).
Home Ownership is Now Feasible
Given that many urban youth live in low-
income communities that are usually rented
or provided by the government, home
ownership can sometimes appear like a rare,
impossible feat to them.
Likelihood to own a home (+76%) was the
second biggest behavioral change recognized
among participants.
Teaching students the real estate process
allows them to feel as if buying a home in
the future is a reasonable goal they can
accomplish if they have the tools to plan for
it and the financial stability to pay for it.
Likelihood to Recommend WealthyLife to
Other Teachers for Financial Literacy
Post WealthyLife (All Respondents)
% All Male Female
Very Likely (Top 2) 10 16 -
Likely (Top 3) 52 58 43

8. HIGH MEASURES FOR SATISFACTION AND CONVENIENCE
Clear Impact on Financial Decisions
Nearly seven in ten (69%) feel their financial
decisions, attitudes, perspectives and
behaviors have been impacted by
WealthyLife.
Interestingly, males were impacted more
than females (42% v. 14% impacted much).
WealthyLife is a Pleasure to Use
More than eight in ten pilot participants find
WealthyLife to be highly satisfying (83%) and
convenient (83%).
Three-fourths feel that it performs well
(78%) and is efficient (77%) making it easy to
play, intuitive and highly productive.
Ratings for WealthyLife Games
Post WealthyLife (All Respondents)
% Top 2 Top 3
Satisfaction –
highly engaging, pleasure to use without pain, and excited to play
83 89
Convenience –
easy to learn in a large class at my own pace
83 89
Performance –
growth in knowledge and can easily learn while playing
78 84
Efficiency –
easy to play, intuitive and highly productive
77 88
Memorability –
easy to remember how to play and doesn’t require repeat
instruction
72 89
Learnability -
easy to learn when playing
72 78
Impact on Financial Decisions, Attitudes, Perspectives and Behaviors
Post WealthyLife (All Respondents)
% All Male Female
Impacted Much (Top 2) 32 42 14
Impacted (Top 3) 69 67 71

9. OPPORTUNITY STARTS WITH FINANCIAL LITERACY AND CREDIT
Credit History Determines Future
Having a credit card is usually one of the first
interactions youth have with the financial
system. Successfully managing the payment
history with that first brush of credit can
alter the financial attitude and stability of a
young person’s life.
It is absolutely critical to the financial
security of the next generation to instill the
practices of making timely payments on
credit items and budgeting for a safe-debt
load.
Youth Desire a Clear Path to Success
If you put most people in a car and tell them
to drive, they will most likely ask – where?
Urban youth are not any different. They
want to know exactly where they are driving
towards, why and how much of their opinion
matters in the final destination.
Understandably so, urban youth have been
trained to be skeptical of financial promises.
Why would they believe financial prosperity
is possible when there are not an abundance
of success stories within their reach?
It is critical to connect their long-term
financial and career goals with classroom
assignments. This simple practice can
significantly increase an urban youth’s
interest in wanting to grow financially.
• “As few as ten hours of classroom
instruction can be enough to persuade
students to improve their spending and
saving habits.” (National Endowment for
Financial Education)
WEALTHYLIFE IN PRACTICE :
Credit Stacker
Common Core: Credit Management
Learn how to recognize wise credit
decisions, credit reports, financing terms
and predatory lending
Lessons:
• Completed credit card application
• Learned the importance of credit
worthiness, debt-income ratio, timely bill
payments and favorable loan terms
• Calculated payment with interest for auto,
home and student loans
Hands On Activity:
Played Credit Stacker edtech game at the
end of each class. It teaches students how to
manage various types of credit, interpret a
credit report, achieve good credit and avoid
risks associated with debt. The game
combines a variation of match-three games,
digital credit score reporting, data analytics,
and a learner management system. Players
make financial decisions based on credit
opportunities that reflect their credit rating
and behavior. Play at getwealthylife.com.
Outcomes:
• Comprehensive understanding of credit
reporting, scoring and predatory lending
• Strong appreciation for using credit wisely
• Renewed love of learning, engagement
and performance with edtech game

10. INVESTMENT MANAGEMENT MOTIVATES RESPONSIBILITY
Having a Purpose to Save is Essential
While most urban youth understand how to
save money, they are unsure about what
they are saving for or why it’s important.
Being raised in socio-economically
disadvantaged communities, they are
surrounded by debt trotted people everyday.
Its commonly misunderstood that low-
income people do not know how to save
money when they are in fact experts at
budgeting. They simply can’t afford to save.
At home it can be a struggle for them to pay
bills, buy clothes or even eat. So why should
they save for tomorrow when they are
hungry now? It makes no sense to them.
At the same time, many urban Americans
will spend up to $40 per day on lottery
tickets. To the average person this might
seem imbalanced. But in actuality, they are
simply trying to make an investment into a
possible future that they may not know how
or have the means to obtain.
Shift Paradigm to Investments
Urban youth emulate the behavior of their
surroundings. Shifting their paradigm to
investing in the stock market instead is
paramount.
By focusing on investments, students can
become savvy investors by adulthood, build
untouched assets and feel like they are
spending money on something that will
provide a better future. Without a certain
level of financial stability, most urban youth
will not save at high levels.
WEALTHYLIFE IN PRACTICE :
Whack-A-Broker
Common Core: Savings and Investments
Learn how to implement a diversified
investment strategy that is compatible with
personal growth
Lessons:
• Created a personal budget
• Determined investment risk profiles
• Researched the stock market, stocks and
the financial components of stocks
Hands On Activity:
Played stock basketball where two students
were assigned as brokers and the rest of the
class represented stocks. The two brokers
competed to see who could make the
most/best stock investments by shooting
balls into the stock buckets. At the same
time, the stock reps had to see who would
attract the most investments by gathering
the most balls.
Outcomes:
• Profound heightened interest in investing
in the stock market
• Learned how to identify investment risks
and balance an investment portfolio
• Developed financial goals based on
lifestyle expectations and investments

11. STOCK MARKET EXPOSURE RAISES FINANCIAL COMFORT
Investment Knowledge Expanded
WealthyLife students increased their ability
to make investments very well by 27% after
completing our program. This approach also
enabled them to be able to manage their
money better (+12%).
Legislative Recommendation:
Focus on Investing, then Saving
• Urban schools should focus on teaching
wise investment decision making instead
of heavily emphasizing savings.
• Banks should market checking accounts
and mutual funds for youth to make
investments and relax emphasis on
maintaining a minimum for savings.
• Banks should create a variable annuity for
youth under 25 that allows them to make
withdraws at 30, has no min balance to
start, accepts payments at birth, and
matches 4% of deposits.
• Banks should join WealthyLife’s platform
to holistically educate youth on financial
investments,, products and services.
WEALTHYLIFE IN PRACTICE :
Charging Wall Street
Common Core: Risk Management
Learn how to use appropriate and cost-
effective risk management strategies
Lessons:
• Learned how to recognize wise
investment choices, market volatility,
potential market swings and risky stocks
• Analyzed the importance of insurance
• Discovered key financial services leaders
Hands On Activity:
WealthyLife took students on a field trip to
Wall Street where they visited various
historic financial locations and Times Square.
Outcomes:
• First time leaving DC for many students
• Direct exposure to key financial markets
• Enlarged interest in financial management
and investment broker careers
• Boosted desire to achieve financial
success to travel to distant locations
• Lifted belief in the possibility of financial
prosperity through higher ed
• Deeper commitment to learning financial
literacy and achieving financial goals
Ability to Manage Money
Pre-Post WealthyLife (All Respondents)
Before After Difference
Very Well 44 56 +12
Well 69 78 +9
Ability to Make Investments
Pre-Post WealthyLife (All Respondents)
Before After Difference
Very Well 6 33 +27
Well 37 50 +13

12. HIGHER ED IS THE CATALYST FOR FINANCIAL INDEPENDENCE
Youth Want to Dream Big
Most urban youth desire financial
independence and have big dreams. As like
any young American, they want to live well,
have a nice house and drive a fancy car.
Nevertheless, despite their high aspirations,
many lack awareness or access to resources
to help them obtain that success.
While students at higher income schools
may receive frequent, natural exposure to
universities, financial institutions, and
people of influence, for students in urban
schools it can sometimes be just a dream.
This perpetual lack of relativity to their
personal lives creates a cognitive dissonance
when faced with their home environment
and seemingly detached lessons in their
government provided textbooks – ballooned
further when the subject is finance.
Start Higher Ed Planning Early
Bridging the gap between higher education
and elevating their financial status is the key
to motivating urban youth to apply for
college. This motivation becomes amplified
when they understand the financial reward
for graduating, costs for attending, financial
aid resources, application process and what
career field best interest them.
Schools can’t tackle this massive challenge
alone. It takes a larger community of effort
of wraparound services and people
connecting with schools to address health,
housing, parenting, sex, crime, recreation,
and workforce development of urban youth.
Legislative Recommendation:
Mandate Annual Plans for Higher Ed
• Urban schools should help youth outline a
SMART plan to gain financial stability
through higher education. They would be
able to draw a direction connection
between their current status and future.
• Urban schools should start higher ed
planning in the 4th grade and revisit the
plans annually.
• Urban schools should align the students’
plans with high schools and universities.
• Universities should extend open summer
programs to various ages to develop
earlier relationships, provide exposure
and help cultivate their plans.
• Government should provide tax benefits
to the universities and parents of students
who enroll in the programs.
Expand Community Schools
• Urban schools should focus on financial
literacy as the cornerstone of their
community efforts.
• Urban schools should partner with edtech
companies and other innovative
organizations to help educators mitigate
issues stemming from poverty.
• Government should expand tax benefits
to institutions that help sponsor for-profit
and non-profit programs in schools.

13. STUDENTS MUST STRATEGIALLY PREPARE FOR HIGHER ED
WealthyLife in Practice:
Brain Up
Common Core: Higher Education
Learn how to apply reliable information and
systematic decision making to personal
financial decisions and academic goals.
Lessons:
• Completed FAFSA and college applications
• Selected a potential major and university
• Calculated tuition expenses and fin aid
Hands On Activity:
Students played musical chairs to see who
would graduate from undergrad and
graduate school making the most money.
The fist person out of the game starts at a
certain salary and each person out from
there makes $5,000 more annually. The
person that wins by staying in school the
longest makes the most money.
Outcomes:
• Instant heightened appreciation for
graduating from high school, college and
graduate school with a deeper
understanding for financial potential
• Increased interest in attending college
and selecting career fields
• More familiarity with universities that
offer programs of their specific interest.
• Better understanding of tuition costs,
financial aid and student loans
WealthyLife in Practice:
Groundbreakers
Common Core: Workforce Development
Learn how to use a career plan to develop
personal income potential.
Lessons:
• Created resumes and career objectives
• Researched job opportunities in their field
and salary requirements
• Completed a job application
• Participated in peer-to-peer mock
interviews and job offer negotiations
Hands On Activity:
WealthyLife hosted an internship fair with
Morgan Stanley, Dept. of Labor and Dept. of
Employee Services to offer summer
employment opportunities to the students.
Students presented their resumes and spent
the day with company representatives.
Outcomes:
• Tailored career plans and academic needs
outlined with each student
• Amplified awareness and interest in
internships
• Larger amount seeking part-time jobs
• Greater comfort with applying and
interviewing for employment, most
notably in areas like business, law,
technology and healthcare.

14. WEALTHYLIFE INCREASES LIKELIHOOD TO START A BUSINESS
Small Business is the Growth Engine
Many urban youth face environmental
difficulties that force them to quickly learn
various entrepreneurial skills for survival.
Oftentimes, these skills are misplaced due to
lack of guidance.
Teaching students how to start a business is
one of the most powerful ways to transform
urban youth. They grow immensely knowing
that they can think of a startup idea and
actually know the steps to proceed with
validating, pricing, developing and pitching
that idea.
Business Planning Grows More Active
Participants are 10% more likely to start a
business after completing WealthyLife.
Females (86%) are 20% more likely than
males (66%) to start a business.
WEALTHYLIFE IN PRACTICE :
Startup Me
Common Core: Entrepreneurship
Describe, design, challenge, and invent new
businesses
Lessons:
• Identified problems and solutions
• Created a business model canvass
• Planned and priced a new business
• Pitched a startup concept to judges
Hands On Activity:
WealthyLife hosted a Play on Wealth Startup
Competition for the students. Each class, in
groups of four, identified, developed and
refined business models over the semester.
Each team pitched their startup to judges
and the finalists from each school competed
against each other in a competition at St.
Elizabeth East. The winning team, One Ball,
WMST won tablets with a unique edtech
idea to combat urban violence.
Outcomes:
• Extreme confidence in knowledge and
empowerment to start a business
• Learned how to create innovative
solutions to solve real world problems
• Raised involvement in designing and
inventing new innovations
Planning to Start a Business
Post WealthyLife (All Respondents)
All Male Female
Very Likely 37 33 43
Likely 74 66 86
Planning Start a Business
Pre-Post WealthyLife (All Respondents)
Before After Difference
Very Likely 29 37 +8
Likely 64 74 +10

15. FINANCIAL EDUCATION TECHNOLOGY DEMAND EXCEEDS SUPPLY
Current Courses Don’t Work
The majority of financial literacy programs
for school age youth focus on the general
population, instead of addressing the
chronic, obvious need to build a sustainable,
comprehensive financial planning tool that is
easy for urban youth to use and understand.
The JumpStart Coalition for Personal
Financial Literacy national survey found that
“while slight improvements have been
shown in financial literacy in recent years,
none of them can be attributed to the high
school courses in personal finance.” In fact,
students who took a financial literacy course
did worse than those who didn’t.
There are very little financial literacy
programs that include instruction and
training on financial independence, money
management and an understanding of asset
development strategies. (Dept. of Labor)
Product Evaluations are Critical
Unfortunately, rigorous evaluation and
reporting are not part of many financial
literacy programs currently offered in a
school setting.
• “The Consumers Bankers Association
review of bank‐sponsored K‐12 financial
education programs suggest that only
56% of bank sponsors actually evaluate
the programs they fund. Among them,
only 21% use any rigor (pre‐and‐post
and/or control group designs) in
evaluating them and only 35% of the
programs were deemed effective based
on the number of students completing
the program.” (Dept of Labor)
Legislative Recommendation:
Accelerate Edtech Companies
• Urban schools should have an established
process for piloting edtech companies on
a rolling basis.
• Government should provide pilot funding
for edtech companies that help reduce
poverty and have established an
agreement with an urban school.
• Government should have a standardized
evaluation to assess the ability of edtech
companies to impact and reduce poverty.
• Government should accelerate
permanent funding for edtech companies
per pilot’s success, help scale to other
states and support future product
developments.
Custom Learning is the Best Practice
Utilizing financial literacy education
technology that enables lessons to be
tailored to each student is the best
approach.
It allows teachers to address a classroom of
various learning styles simultaneously while
also offering a custom experience that is
unique to each student’s financial, academic
and career goals.
This approach significantly increases urban
youth’s likelihood to learn, enjoy and
practice financial literacy.
Providing timely information can be critical
as financial markets, tuition rates and wage
requirements rapidly change.

16. FINANCIAL NAVIGATION IS A PREREQUISITE FOR DEVELOPMENT
Holistic Learning Shapes Autonomy
Youth that are exposed to areas outside of
their community or city will be more likely to
comprehend financial experiences. Being
able to comprehend background knowledge
plays a strong role in impacting their ability
to trust, understand and want to learn more.
Utilizing out-of-class experiences as a reward
also inadvertently addresses participation
and chronic absenteeism as students will
usually positively alter their behavior to
attend these field trips.
Changes in behavior will likely sustain after
the filed trips as students gain deeper
interest with each financial experience.
Don’t Charge for Financial Exposure
It’s also worth noting that the experiences
should be free for urban youth. Sadly, many
of them often miss out on enrichment
activities because they lack even nominal
means to attend.
• “Between birth and age 6, children from
high-income families now spend an
average of 1,300 more hours in "novel"
places outside their homes, schools, and
day-care centers than children from poor
families.” (Education Week, 2012)
Extra Care for Learning Disabilities
Not only must youth with disabilities learn
how to navigate through life with unique
circumstances that come with personal
limitations but they must also increasingly
prepare to join the complex world of
employment and money management.
The development of knowledge and skills
with regards to financial independence,
money management and an understanding
of asset development strategies are some
the most pressing issues for youth with
disabilities.
Youth with disabilities often live in poverty
and face barriers to stable employment
opportunities.
Government programs sometimes present
confusing eligibility criteria, making access to
needed support services extremely difficult.
This small defeat can quickly turn into a
lifetime of financial dependence on the
government as it leads to many disabled
youth never successfully transitioning from
school to post-secondary education,
employment and independent living.
Disabled are Financially Neglected
It is critical to establish customized financial
literacy programs to meet the needs of
youth with disabilities.
There are little to none readily available
financial literacy programs on the market
that has been customized or is adaptable to
youth with disabilities in a classroom.

17. FINANCIAL LITERACY IS NOT ONE SIZE FITS ALL
Financial Capability is the Top Priority
One of the core problems with financial
literacy is greed. Too often, financial services
organizations do not place the financial
capability of youth as a top priority when it
should be the priority. Many are more
concerned about sales, marketing and
bottom line figures than actually helping
youth make become financially responsible
adults.
This systemic situation has prevented urban
youth for over one hundred years to gain
true financial understanding and security. It
forces them to rely on knowledge handed
down from their family to advance.
The problem becomes exasperated when it’s
taken into consideration that urban families
usually do not have much financial
knowledge to pass down because they
received their financial education from the
same uninformed source.
And the cycle repeats – forcing urban youth
to grapple for crumbs of financial literacy,
gaining little to no understanding.
Family Income Alters Potential
People often want to believe that urban
students perform unsatisfactory because of
poorly run schools. When in fact, it stems
from the distribution of family income.
Over the past 30 years, the gap between the
educational resources provided to wealthy
and low-income families has dramatically
widened. In terms of achievement alone, the
gap has grown by 40% since 1960.
(National Education Longitudinal Study)
Inequality Breeds in Urban Schools
Along with household income, other key
factors related to socioeconomic resources
are the biggest predictors of students’
educational fulfillment.
The ability to coordinate instruction among
teachers is a prime characteristic of an
effective school. Many urban schools lack
this feature due to high turnover rates of
teachers who desire more pay and safety.
Urban youth are far more likely to have
classmates with low achievement and
behavior problems, which have a negative
effect on their own learning.
They’re also more likely to attend schools
with high turnover rates. Research shows
that students learn less in schools with high
turnover.
Economic Disparity is Not Justice
While many young Americans may have
difficulties transitioning into a financially
independent adulthood, urban youth in
particular struggle with heightened
economic disparities on a normal basis.
These concurrent disadvantages include
gaining employment, home ownership,
education and sometimes even health.
Financial literacy is the best method for
overcoming these injustices that have
traditionally stifled Urban America.

18. LEGISLATION HAS POWER TO FINANCIALLY EMANCIPATE YOUTH
Financial Literacy Ecosystem Needed
The President’s Financial Capability Advisory
Council has done a great job of gathering key
organizations with similar goals to uplift the
financial literacy of young Americans. It is
now time to leverage this group of leaders to
build a financial literacy ecosystem that is
streamlined, efficient, sustainable, adaptable
and collaborative.
Supporting a unified platform for all of these
organizations to benefit from would be the
ideal way to proceed with approaching the
financial empowerment of urban youth.
In order to truly emancipate urban youth
from financial slavery all organizations must
agree on the method, reason and approach
to move forward. While some efforts have
been made, there has not been a cohesive
approach as a whole.
Community Commitment is Valued
An ecosystem needs more than just financial
players – it needs the community.
Organizations like churches, schools,
recreation centers, dance studios, and even
meet-up groups can play a strong role it
making their city more financially sound.
Cities are led by communities and
communities are led by leaders. Each
community has a group of leaders that they
respect and trust. It would be in the council’s
best interest to identify and partner with
those key leaders from a holistic perspective
– meaning conversations should be an open
two-way street.
Legislative Recommendation:
Identify Advisory Council City Reps
The council should establish a board of city
representatives where each lead a group of
community representatives, providing a
community-council liaison that is easily
accessible in each community. This would
make recommendations and initiatives
supremely more streamlined.
Each community liaison should be
responsible for enlisting their community’s
organizations into the overall structure.
Organizations should be provided tracking
numbers to be held responsible and
rewarded with tax incentives for enlisting
members into proposed financial literacy
programs. This system would enable anyone,
anywhere in America to feel directly and
equally connected to the financial literacy
ecosystem of America.
WEALTHYLIFE IN PRACTICE:
Public-Private Partnerships
• WealthyLife has current partnerships with
the Charter School Development
Corporation, Building Hope, DC Chamber
of Commerce and three charter schools.
• WealthyLife aims to be the primary
financial literacy source for all K12
charter, DOE, religious, special needs,
private and home schools.
• WealthyLife aims to partner with all
members of the advisory council with one
macro strategy that is carried out through
specific tactical efforts.

19. Credit Stacker
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