How to design a Financial Literacy Program

Today I had an interesting discussion with a friend on designing content and effective training programs.

To my mind, understanding the end user of your workshops and use that understanding to design content and the workshop on financial awareness is important. I think that a “bottoms up” approach towards financial literacy would be a much preferable way than a “top down” approach.

And I see a “give them some training as they need it” approach very common instead of “asking what they need” approach. I guess it’s the easy way out.

Another insight I read a few days ago was Gautam Ghosh’s post on the Indian way of learning where he says,
” But the crux of the learning method for India – is encapsulated in Devdutt Pattnaik’s statement that while the rest of the world believes that “Feed a man a fish and you feed him for a day, teach him how to fish and he will not be hungry again” in India the belief is “help him discover his own way of catching fish, because then that is his own!”

More on Instructional Design: Perhaps the most common model used for creating instructional materials is the ADDIE Model. This acronym stands for the 5 phases contained in the model:

* Analyze – analyze learner characteristics, task to be learned, etc.
* Design – develop learning objectives, choose an instructional approach
* Develop – create instructional or training materials
* Implement – deliver or distribute the instructional materials
* Evaluate – make sure the materials achieved the desired goals

The analysis phase is the starting point. Only after you thoroughly conduct the analysis by talking to the end user—you can then design content, activities, games, videos, etc based on your findings. Normally we decide what gyaan to spout or what is good for the end user without asking him or taking him into the loop.

Only when we analyze the learner- only then we can help the user design his/her own way of catching fish!!

This applies in personal finance even more so because everyone financial decisions are personal. It depends on his/her own situation which can vary despite having the same age/income profile.

But as I write this post, I need to remember the following too:
The key is to get started. Start simple, but start. Do the best that you can for now. There is no perfect plan.

This is true for your financial plan and my plan to design the perfect training plan!!

I edit Personal Finance Online Resources, nurture Financial Literacy Foundation, deliver Financial Awareness Workshops and have built a desktop RupeeManager.

Invite me for a talk. Email me on ranjan@ranjanvarma.com or Call me on +919867755615