Peer Review

Financial Literacy

Material Detail page

Reviewed:: Apr 1, 2023 by Business

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Ratings

Overall Rating:

Content Quality:

Effectiveness:

Ease of Use:

Overview:

This is a 16-minute 16 second video about personal financial management, budgeting, planning, and investing.

Want less stress? More happiness? Learn how to manage your finances! How do you make a budget? What's an index fund? Why is compound interest so powerful? What is the time value of money? Why should you start saving now? What should credit be used for? (Hint – not pizza!) Do you ever want to buy a house? A car? Money and finances. It seems so complicated. But it's really not. Discover the answers to these questions and more. Learn the basics of Financial Literacy and how to manage your money…whatever there is of it! Educators are able to access supplementary material by creating an account.

Type of Material:

Presentation

Recommended Uses:

This video can be viewed in class or individually to help students understand some general basic concepts of finance.
Could be assigned as homework

Technical Requirements:

Firefox, YouTube

Identify Major Learning Goals:

Understand personal financial management, income, expenses, assets, liabilities, and basic time value of money
Learn about simple vs compound investing,
Understand stock market volatility,
Learn about retirement planning.

Target Student Population:

Higher level High School,
Lower-level college undergraduate business,
Lower college-level general studies students

Prerequisite Knowledge or Skills:

Basic knowledge of personal finance and economics (law of supply and demand).

Content Quality

Rating:

Strengths:

The material is appropriate for basic financial concepts.
Clear, concise presentation of the four basic categories relative to basic financial literacy: income, expenses, asset, and liability
Stresses the importance of identifying and planning for established goals.
The video addresses budgeting and the importance of understanding “value”.

Concerns:

None

Potential Effectiveness as a Teaching Tool

Rating:

Strengths:

This material promotes a conceptual understanding of the basic concepts of finance.
The 16-minute video could be included as part of a lecture or as a short homework assignment for senior-level high school students as well as first- and second-year undergraduate college students as part of courses in personal finance, economics, or introduction to finance.
It is a great tool to use to provide an overview of the fundamental concepts related to basic personal financial planning.

Concerns:

None

Ease of Use for Both Students and Faculty

Rating:

Strengths:

The video is clear and easy to view.
The course is easily accessible on YouTube and has closed captioning available.
Sound and visuals are clear.
The recording is well done with relevant interviews, graphics, and examples.

Concerns:

None

Other Issues and Comments:: This is an excellent resource due to the short amount of time used to convey very important basic concepts of financial literacy. It is a clear, concise, efficient, and effective presentation.
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