How To Become A Millionaire Program Impact Analysis Study (Spring 2018)
INTRODUCTION: The How To Become A Millionaire Program was designed to teach students about how to manage their finances and strive for economic growth at a higher level than what basic education is giving students in the school systems today. The program, created by Bob Gillingham, was spread over multiple days each week it was taught and assessed the kids by giving a test both before and after the program was taught. The pre-quiz was taken by every student before anything was taught to them. This gave the team an idea of where the kids were at before the class. After the whole program was complete, the same kids took the post-quiz. The results were compared to each other, and as it will later state in this analysis, there were drastic improvements in every section.
CLASS SUMMARY: The program contained information on financial market terminology, mutual funds, financial accounts, and overall maintaining personal financial objectives. The students were first taught about savings accounts, bonds, and the three types of investments. The program stressed how much each investment returns on average so that the students could identify which investment would be most beneficial at certain points in their life. Mutual funds were then discussed and the students were taught on how to evaluate each one. Finally, the basic rules of the investing were discussed along with opening an IRA account. Overall, each section was designed to give students a basic, yet strategic summary of the essential parts to maintaining financial security and growth for the future.
CONCLUSION: This program has showed not only the FinMango team, but also the students and staff the importance of continuing to expand knowledge on personal finance. These key lessons taught are the most basic, yet essential ideas for students to learn. The knowledge from this program will help the student farther down the road as they will all one day strive for financial growth and security. The results from this program are not only extremely impressive, but also very promising. In every section taught, the students improved in drastic measures.
684 students answered the question correctly following the program, while only 245 students answered correctly before the program.
- 667 students answered the question correctly following the program, while only 323 students answered correctly in the pre-quiz.
- 712 students answered the question correctly following the program, while only 376 students answered correctly in the pre-quiz.
- 741 students answered the question correctly following the program, while only 235 students answered correctly in the pre-quiz.
- 677 students answered the question correctly following the program, while only 283 students answered correctly in the pre-quiz.