Core curriculum orientation ppt final v5

© Microfinance Opportunities. 2014.
Welcome
Microfinance Opportunities Online Training in the Use of the Core Curriculum

Contents
•Introducing Financial Education and the Core Curriculum
•Examining Core Curriculum Content
•Using Core Curriculum Training Tools
•Implementing a Financial Education Program Using the Core Curriculum
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Objectives
By the end of this online training you will have:
•Defined financial education and financial capability and considered their importance
•Examined the background, purpose, and scope of the Core Curriculum
•Reviewed the modules included in the Core Curriculum
•Identified the various training tools
•Considered how you can use the Core Curriculum to meet your organization’s needs
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Introducing Financial Education and the Core Curriculum

Reflection
What is financial education?
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What is Financial Education?
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What is Financial Education?
Financial education can:
•Promote awareness of personal financial challenges and choices
•Encourage the development of financial goals
•Help others to prioritize spending and promote saving
•Introduce people to financial products and services
•Provide a basic “life skill”
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Impact of Financial Education
“I cannot talk about money with my husband.”
“My husband and I plan our expenses every week together.”
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Why is Financial Education Important?
The goal of financial education is to improve the financial capability of consumers.
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Why is Financial Education Important?
How can financial education help to improve the lives of low-income families in your area?
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Introducing MFO
Microfinance Opportunities (MFO) is a global non-profit committed to understanding the financial realities of low-income households. We use consumer research, market analysis, and insights to develop consumer-focused solutions that build financial capabilities. Our consumer-focused approach brings about meaningful results as we strive to understand the experiences and expectations of low-income consumers and their families, making us a global leader in financial education.
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What is the Global Financial Education Program?
The Global Financial Education Program (GFEP) was the first large-scale program targeting low-income individuals in developing countries. With the support of the Citi Foundation, MFO and Freedom from Hunger developed a curriculum covering various money management topics, and we trained organizations on how to teach it to their clients. Today, GFEP is referred to as the Core Curriculum and is still used and adapted by organizations and trainers across the globe.
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What is the Global Financial Education Program?
The Global Financial Education Program developed five training modules between 2003 and 2005. These modules were designed, tested, and cross-tested with our partners in Bolivia, South Africa, Morocco, Kenya, India, the Philippines, and Poland.
The modules mentioned above constitute the Core Curriculum – the precursor of many curricula used in financial inclusion programs today. It is available in English Spanish, French, Arabic, Chinese, Russian, and Portuguese.
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The Core Curriculum and Financial Capability
MFO and Freedom from Hunger strive to improve financial capability through financial education. Through the development of our Core Curriculum to meet the needs of the international low- income market, MFO and Freedom from Hunger sought to provide
trainers worldwide with
the educational tools to
improve the financial
capabilities of low-
income consumers.
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Methodology of the Core Curriculum
MFO bases its curriculum design on Adult Learning Principles and Practices (ALPPs) developed by Freedom from Hunger which include:
•Respect: Learners feel respected and feel like equals.
•Safety: Learners need to feel that others value their ideas and contributions, that others will not belittle or ridicule them.
•Relevance: Learners learn best by drawing on their own knowledge and experience. Learning must meet the real-life needs of the adult—jobs, family, etc.
•Dialogue: Adults learn better when they can discuss information. Learning must be two-way to allow the learner to enter into a dialogue with the teacher.
•Engagement: Learners must get involved through discussion, small groups and learning from peers.
Open the sample learning session document. Which ALPPs do you see integrated into the design of the session?
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State of Core Curriculum Today
Today, MFO and Freedom from Hunger continue to use the Core Curriculum, adapting the modules and designing new learning sessions to fit new contexts and populations. Additionally, we disseminate the curriculum across the globe through Training of Trainers (TOT) events and through technical assistance, expanding the network of financial education providers who use our curriculum. We hope that you too will join our growing network of institutions, organizations, and programs and use the Core Curriculum to educate your clients.
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State of Core Curriculum Today: Outreach
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GFEP
Training Workshops: 968
Workshops offered by partners: 28,156
User Trainings: 1,719,769
Scope of Reach via other channels: 38,725,710
TOTAL Number of Users: 40,474,603 (figures from 2011)

Examining the Core Curriculum Content

Overview of the Curriculum
The Core Curriculum consists of five modules seen to the right.
These five topics represent the basic foundation of financial capability. They are core concepts for low-income consumers to master in order to successfully manage their finances. Without a firm grasp of these topics, consumers are vulnerable to predatory practices and products as well as entrenched poverty.
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BUDGETING: Use Money Wisely
The goal of this module is to
improve participants’
household budgeting and
money management skills,
helping them to make better
spending, savings, and
investment decisions.
Low-income consumers can benefit from this module by learning to track the amount of money they have, to set realistic financial goals, and to identify the steps needed to achieve them.
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photo by Freedom from Hunger

SAVINGS: You Can Do It!
The goal of this module is to help participants recognize the importance of savings, identify saving strategies, learn how to make a savings plan, and evaluate options for savings products and services.
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The goal of this module is to help participants manage debt. It will teach them the basics of debt and borrowed money, good choices to make when borrowing (e.g. choosing the right lender, choosing the right time to borrow, etc.), and steps s/he should take to avoid delinquency, default, and over-indebtedness.
DEBT MANAGEMENT: Handle With Care
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BANK SERVICES: Know Your Options
The goal of this module is to help participants effectively understand and use bank services, ensuring they choose the right financial services to satisfy their financial needs.
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FINANCIAL NEGOTIATIONS: Communicate with Confidence
The goal of this module is
to help participants learn
how to conduct effective
financial negotiations so
that they can achieve
agreement and positive
outcomes—whether
related to business
dealings or family
decisions.
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Reviewing the Modules
Now that we have covered all 5 modules—Budgeting, Savings, Debt Management, Bank Services, Financial Negotiations—which do you think would be most useful for your own financial education program?
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Using the Core Curriculum Training Tools

Overview of the Tools
Overview of the tools:
•Trainer’s Guide
•Content Note
•ToT Manual
•Toolkit
•Video
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Overview of Dissemination Process & Use of Tools
To the right is a model of the tools and key players and their role in the training process. Master trainers use the ToT Manual, Toolkit, and Content Note to train staff and other trainers. Trainers use the Trainer's Guides and Videos to train the target population of end users.
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The Training of Trainers Manual
The Training of Trainers (TOT) Manual is a companion to the Trainer’s Guide on the same theme. This manual presents a curriculum for master trainers to train trainers of financial education—specifically, those who will be facilitating the module with and for members of low-income families. The TOT manual activities will prepare trainers to effectively facilitate the learning sessions in the module by orienting them both to the technical content and the training skills called for in the Trainer’s Guide.
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The Toolkit
The second component of the TOT Manual is the Toolkit. This is a collection of the handouts to be distributed and used during activities
in a TOT workshop.
The handouts are
presented in
chronological order
for easy access during
the workshop.
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The Content Note
The Content Note provides a discussion of the specific financial education topic addressed in each module. Reading this short piece will give you a good idea about the technical content of the module—the concepts that participants will learn and the skills they will practice.
The Content Note is background reading for trainers. Trainers can decide whether the participants would benefit from reading it as well, adapting the text of the Note as needed for their participants. The Content Note is also a good, succinct summary of a module that can be provided to management, funders, or other stakeholders in a financial education program.
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The Trainer’s Guide
The Trainer’s Guide is the tool used by the trainer who delivers financial education directly to a group of participants or clients (members of low-income families). It contains background information to orient the trainer to the topic and the training sessions to be delivered to participants. These sessions provide step-by-step descriptions of learning activities including objectives, timing, and materials needed.
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In each module, you will see a link to download the Trainer’s Guide under the “Workbook & Toolkit” heading. You will also see each module broken up into individual sessions in the “Trainer’s Guide Components” section to the right of this training screen. This permits you to select specific sessions without downloading the entire content of the Trainer’s Guide, if you wish.
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Look at the first page of the ‘Budgeting’ Trainer’s Guide, Session 1 to the left. Familiarize yourself with the different elements of the ‘Trainer’s Box,’ outlined on the left.
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The Video
A corresponding video was created by MFO to accompany each financial education module. The videos were made in several different countries, but they are all subtitled in English. These can be a helpful component to present to participants in conjunction with the rest of the curriculum. The videos are dramatizations of the
kinds of challenges that
low-income families can
face. The videos also
illustrate strategies that
help to manage the
illustrated challenges.
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How to Use the Video
Tips:
•Give the characters names to make
it more personal
•Invent a back story to engage
participants
•Ask questions related to the content before and after showing the video
•Ask participants to suggest what advice they would share with their families
•Use as an introduction to the module or as a concluding activity for participants to show what they have learned
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How to Use the Video
If your target audience doesn’t speak the language used in the video, how can you use the video during a training session?
•Come up with a similar scenario and ask participants to act out a scene
•Play the video on silent and ask participants to read the translated lines of the characters
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Click here to watch our video on Financial Negotiations. Think of a way in which you could communicate the key messages from this video to an audience that does not speak English or Bantu.

Reviewing the Tools
How would you use these tools to implement your own financial education program?
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Implementing a Financial Education Program Using the Core Curriculum

Implementation Guidance
Now that you are familiar with the content and tools of our Core Curriculum, you may want to get started. There are other factors you will need to consider before implementing a program of your own.
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Institutions and organizations will decide which module or modules that they want to deliver to their clients.
Each module is comprised of five to ten learning sessions, generally lasting between 30 and 90 minutes. Each learning session in a module builds on the information from previous learning sessions.
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In order to effectively implement the Core Curriculum, institutions can:
•select sessions from the module that are most relevant to their target group to shorten a module
•split learning sessions into shorter ones
•adapt learning sessions to fit the amount of time they have for each training event
•select learning sessions from different modules to create their own unique financial education module, depending on the target audience’s needs
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Example of a Customized Financial Education Program
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Implementation Guide
For more implementation guidance, MFO and Freedom from Hunger created an Implementation Guidance manual. You can access it in the “Workbook & Toolkit” section to the right.
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Adaptation
Another factor to consider
when implementing a financial
education program is that the
modules are “generic” and are
intended to act as a foundation
or reference for organizations
to adapt and tailor to their
local context. As you review the
modules, consider how you will need to adapt the curriculum to your institutional goals; target market needs and demands; social, cultural and economic realities of your area; financial landscape; and institutional and operational environment.
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Adaptation
Also be prepared to adapt the names, stories, situations, currency and other aspects of the learning sessions to make them relevant to your country or region.
Consider using information
from market research, key
informants and other
background documents to
adapt the learning sessions
and help you make the
modules more relevant and
useful for your clients.
What kinds of adaptations would you need to make to successfully implement your program?
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Wrap-Up

Revisiting the Objectives
We said at the beginning that by the end you of this online training you would have:
Defined financial education and financial capability
Examined the background, purpose, and scope of the Core Curriculum
Reviewed the modules included in the Core Curriculum
Identified the various training tools (Trainer’s Guide Training of Trainer’s Manual, Content Note and Toolkit) in each module, and learned their purposes and how to use them
Considered how you can use the curriculum to meet your organization’s needs
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Wrap-Up
We hope you have found this useful and relevant as you embark on the journey of providing a financial education
program to your target population.
With the tools and knowledge of
this training, you are surely ready
to get started.
Did you get your own personal objective met through this online training?
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Stay Connected!
Now that you have the training
tools and orientation to begin
implementing your own
financial education program,
be sure to stay connected
with our global network of
providers.
Let us know how it’s going so we can add your program and numbers to our totals! Click on the impact reporting document to report back on how many clients you’re reaching.
We can be reached at info@mfopps.org
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Need More Help?
Microfinance Opportunities provides technical assistance, program design, and curriculum adaptation to institutions and organizations from the design through the implementation phases of financial education programs. For more information, please fill out our enquiry form.
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Microfinance Opportunities
T: 202-721-0050
F: 202-721-0010
E: info@mfopps.org
W: microfinanceopportunities.org

Core curriculum orientation ppt final v5

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