Developing participative processes for the generation of a financial education curriculum addressed to young adults at risk

Financial markets have become increasingly complex and, in consequence, individuals everywhere need to improve their understanding of financial products and services. In addition, individuals today have greater responsibility for their financial well-being. A wide process of financial education is required in order to configure a critical and informed citizenship able to understand and make fundamental decisions on aspects related not only to the financial system, its functioning and products but also to all aspects integrated on a solid financial training. However, financial education is especially low among certain demographic groups, including young adults at risk. Some researches show that most young adults at risk make financial decisions and deal with complex financial products despite lacking this basic financial and quantitative knowledge. Moreover, the inclusion of the voices of the young adults is not taken into account when elaborating any curricula on financial education although it is essential to meet the real necessities and demands on financial education and for them to become more active, independent and enterprising.
The project has as the main aim the establishment of a learning curriculum on financial education based on the implication of young adults at risk themselves in order to meet their real needs on financial literacy.

Objectives:

• Develop a participatory process that allows the implication of young adults at risk. To facilitate the participatory process, national working teams of young adults will be created in organizations which are directly working with them.
• Carry out a comparative study on financial education programmes in the partnership countries.
• Collect the participatory process followed in the organizations in a methodology that could be afterwards implemented in other organizations working with young adults.
• Organize transnational and national seminars to disseminate the methodology and curriculum among young adults, organizations directly working with young adults at risk and public administration.
• Carry out meetings with young organizations, organizations directly working with young adults at risk and public administration in order to guarantee the sustainability of the curriculum and the methodology abroad.

The project is addressed to three different target Groups:

• Young adults between 18 and 34 without basic compulsory education who are at risk of social exclusion due to their difficulties to be included on the labour market.
• Organizations directly working with young adults at risk: youth organizations, social organizations for social and labour inclusion, financial organizations with training programmes on financial literacy and other stakeholders/adult education providers.
• Public administration.

The methodology used in this project will be the critical communicative methodology. It was recognized as the best methodology when promoting educational participation of disadvantage groups (INCLUD-ED- CREA 2006-2011).

The three main project’s outputs  will be:

1. The Comparative study on financial education programmes in the partnership countries. It will collect recommendations for the realization of programs and curriculums focused on financial literacy conducted by international institutions, and systematize existing financial education programs.
2. The Methodology: Promoting participative processes with young adults on the elaboration of educational curriculums. It has as main objective the systematization of the participatory process followed by partner organizations.
3. The Curriculum on financial education addressed to young adults, which will be the result of the participatory process carried out at the national level, in each of the participating institutions.

Dissemination will include activities related to the organization of two multiplier events with the main objective of disseminating the Methodology and the Curriculum created. In order to assure the sustainability of the project, meetings with young organizations, and public administration will be organized in each country and a specific space will be created and disseminated on the web page of the project to include new contributions from young adults to the curriculum.

The methodology will improve the inclusion of young adults’ voices in the organizations, increasing their opportunities for professional development, promote lifelong learning and a more active participation in society. Finally, the project will offer a concrete and valid curriculum to be implemented in national educative systems in order to widen the access of at risk collectives to the financial education.

The Project is led by Àgora, a Non-governmental organization in the field of education and training. The activities are addressed to adults who do not have academic degree, especially those people from vulnerable groups who are at risk of social exclusion. The association was created in 1986 to cover the educational and cultural needs in the neighbourhood. In 1999, Harvard Educational Review published the article “La Verneda-Sant Martí, a school where people dare to dream”, the unique Spanish educational experience into adult education published by this review. Authors such as John Comings (Harvard University), Barbara Merril (Warwick University), Carol D. Lee (Northwestern University and vice-president of the American Educational Research Association) or Courtney Cazden (Harvard University) have visited the school and association highlighting the impact of the school results and work.