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Core curriculum orientation ppt final v5

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Core curriculum orientation ppt final v5

  1. 1. © Microfinance Opportunities. 2014. Welcome Microfinance Opportunities Online Training in the Use of the Core Curriculum
  2. 2. © Microfinance Opportunities. 2014. 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 2
  3. 3. © Microfinance Opportunities. 2014. 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 3
  4. 4. © Microfinance Opportunities. 2014. Introducing Financial Education and the Core Curriculum
  5. 5. © Microfinance Opportunities. 2014. Reflection What is financial education? 5
  6. 6. © Microfinance Opportunities. 2014. What is Financial Education? 6
  7. 7. © Microfinance Opportunities. 2014. 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” 7
  8. 8. © Microfinance Opportunities. 2014. Impact of Financial Education “I cannot talk about money with my husband.” “My husband and I plan our expenses every week together.” 8
  9. 9. © Microfinance Opportunities. 2014. Why is Financial Education Important? The goal of financial education is to improve the financial capability of consumers. 9
  10. 10. © Microfinance Opportunities. 2014. Why is Financial Education Important? How can financial education help to improve the lives of low-income families in your area? 10
  11. 11. © Microfinance Opportunities. 2014. 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. 11
  12. 12. © Microfinance Opportunities. 2014. 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. 12
  13. 13. © Microfinance Opportunities. 2014. 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. 13
  14. 14. © Microfinance Opportunities. 2014. 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. 14
  15. 15. © Microfinance Opportunities. 2014. 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? 15
  16. 16. © Microfinance Opportunities. 2014. 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. 16
  17. 17. © Microfinance Opportunities. 2014. State of Core Curriculum Today: Outreach 17 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)
  18. 18. © Microfinance Opportunities. 2014. Examining the Core Curriculum Content
  19. 19. © Microfinance Opportunities. 2014. 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. 19
  20. 20. © Microfinance Opportunities. 2014. 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. 20 photo by Freedom from Hunger
  21. 21. © Microfinance Opportunities. 2014. 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. 21
  22. 22. © Microfinance Opportunities. 2014. 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 22
  23. 23. © Microfinance Opportunities. 2014. 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. 23
  24. 24. © Microfinance Opportunities. 2014. 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. 24
  25. 25. © Microfinance Opportunities. 2014. 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? 25
  26. 26. © Microfinance Opportunities. 2014. Using the Core Curriculum Training Tools
  27. 27. © Microfinance Opportunities. 2014. Overview of the Tools Overview of the tools: •Trainer’s Guide •Content Note •ToT Manual •Toolkit •Video 27
  28. 28. © Microfinance Opportunities. 2014. 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. 28
  29. 29. © Microfinance Opportunities. 2014. 29
  30. 30. © Microfinance Opportunities. 2014. 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. 30
  31. 31. © Microfinance Opportunities. 2014. 31
  32. 32. © Microfinance Opportunities. 2014. 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. 32
  33. 33. © Microfinance Opportunities. 2014. 33
  34. 34. © Microfinance Opportunities. 2014. 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. 34
  35. 35. © Microfinance Opportunities. 2014. 35
  36. 36. © Microfinance Opportunities. 2014. 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. 36
  37. 37. © Microfinance Opportunities. 2014. The Trainer’s Guide 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. 37
  38. 38. © Microfinance Opportunities. 2014. The Trainer’s Guide 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. 38
  39. 39. © Microfinance Opportunities. 2014. 39
  40. 40. © Microfinance Opportunities. 2014. 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. 40
  41. 41. © Microfinance Opportunities. 2014. 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 41
  42. 42. © Microfinance Opportunities. 2014. 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 42 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.
  43. 43. © Microfinance Opportunities. 2014. Reviewing the Tools How would you use these tools to implement your own financial education program? 43
  44. 44. © Microfinance Opportunities. 2014. Implementing a Financial Education Program Using the Core Curriculum
  45. 45. © Microfinance Opportunities. 2014. 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. 45
  46. 46. © Microfinance Opportunities. 2014. Implementation Guidance 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. 46
  47. 47. © Microfinance Opportunities. 2014. Implementation Guidance 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 47
  48. 48. © Microfinance Opportunities. 2014. Example of a Customized Financial Education Program 48
  49. 49. © Microfinance Opportunities. 2014. 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. 49
  50. 50. © Microfinance Opportunities. 2014. 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. 50
  51. 51. © Microfinance Opportunities. 2014. 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? 51
  52. 52. © Microfinance Opportunities. 2014. Wrap-Up
  53. 53. © Microfinance Opportunities. 2014. 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 53
  54. 54. © Microfinance Opportunities. 2014. 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? 54
  55. 55. © Microfinance Opportunities. 2014. 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 55
  56. 56. © Microfinance Opportunities. 2014. 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. 56
  57. 57. © Microfinance Opportunities. 2014. Microfinance Opportunities T: 202-721-0050 F: 202-721-0010 E: info@mfopps.org W: microfinanceopportunities.org

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