JA Building a Financially Capable Generation

JA Building a Financially Capable Generation is a financial education experience for young people. It is designed to enable students to gain the skill sets, mindsets, and behaviors they need to own their financial futures.

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Learning Experience

 

The more you know about managing your money—ways to earn it, how to spend it wisely, and how to save money—the more control you have over your life.

 

That is why we partnered with HSBC and created JA Building a Financially Capable Generation: so that young people gain financial management skills, practice smart behaviors, and take actions that enable sustainable living.

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Learning Goals

JA is bringing teachers and volunteers to translate financial literacy into financial capability by illustrating it is not just what young people know, but whether they have the willingness, confidence, and opportunity to act. Our goals for students is that participants in the learning experience will:

  • See the value in managing money proactively

  • Identify what is needed to make appropriate money management decisions and act on them.

  • Acquire the skills to turn knowledge into practice.

  • Believe and have confidence they can act according to their interests.

  • Evaluate barriers to active money management.

 

In 2022, teachers and volunteers in 17 countries are delivering the three-part learning experience to groups of students ages 12-16 in schools, community centers, and virtual spaces.

Learning Components

The JA Building a Financially Capable Generation learning experience is designed to reinforce characteristics and behaviors of a financially capable person.  Educators and volunteers coach students through the following activities while creating opportunities for them to demonstrate and apply their learning: 

  • Financial Capability Workshop:  Volunteers and educators introduce students to key concepts and strategies for managing their money.

  • FinQuest App: Students experience and overcome money management challenges through a free financial education app.

  • Global FinCap Challenge: Teams of students develop ideas for social action through an intensive innovation camp and international competition.

Participating Locations

JA is working with several partners on this initiative:

 

  • JA Worldwide: As the umbrella organization of a global federation, JA Worldwide supports a network of partners in 100+ countries and six regional operating centers in sub-Saharan Africa, Asia Pacific, Europe, the Americas, Middle East and North Africa, and the United States. Through this network JA Worldwide engages 500,000 volunteers and teachers and inspires over 10 million students.

      A full list of JA locations can be found here: https://www.jaworldwide.org/locations

 

  • HSBC: JA Worldwide partnered with HSBC, one of the world’s largest banks, to develop, launch, and grow the JA Building a Financially Capable Generation initiative. In each participating location, HSBC employees serve as volunteers and deliver the project’s foundational session, mentor youth through the FinQuest app experience, and coach teams of youth through the Global Innovation Challenge.

  • Independent JA Locations: Last year, 13 JA locations participated in the project pilot.  This year, 17 JA locations will deliver the financial capability program. Each member nation brings a unique set of partners that contribute to the project. This includes schools and community organizations that host project activities and businesses and HSBC volunteers and support.  JA locations participating in the initiative in 2022 include:

 

 

 

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Financial capability empowers youth to lead sustainable and resilient lives.

 

Empowering young people to own their financial futures

 
 

Quotes

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Financial literacy is what you know. Financial capability is what you can do.

Gus Schmedlen
Merlyn Mind and
JA Worldwide Board of Governors

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This is such an important topic. It is not the typical subject you learn in school, or the typical thing you talk about with your friends.

Liam
Student, JAYE Malta Foundation

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                 As a parent, I want my children to have a better understanding of how to manage their money than I had when I was a teenager. We are grateful for the hundreds of teachers and volunteers around the world who work together to deliver great experiential learning opportunities for youth, and for the opportunity to create and share a free educational app for youth, parents, and teachers.

Asheesh Advani
CEO, JA Worldwide

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Financial capability must be a collaboration. Business and education must work together on this.

Dominque Ghazar
Senior Sustainability Manager, Future Skills Lead HSBC Bank Middle East Limited

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             Financial Capability is the combination of attitude, knowledge, skills, and self efficacy needed to make and exercise money management decisions that best fit the circumstances of one’s life, within an enabling environment that includes but is not limited to access to appropriate financial services.

Guy Stuart, Ph.D.
Executive Director of Microfinance
Opportunities and financial capability expert

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Our partnership creates opportunities for young people to better understand financial terms and take that knowledge into daily activities.  That's key, especially when it’s not that common to talk with children about the financial side of life.

Volunteer

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Students were actually saying things like they need to save money for their future goals …at the end of the workshop.

Volunteer

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Video Library

What Is Financial Capability?

(March, 2021) Slide show presentation defines financial capability.

Financial Capability: HSBC & JA

(September, 2021) Slide show presentation reports on impact of the program pilot.

GLC Video (November, 2021)

 

GLC Masterclass:

Full recording of the Financial Capability masterclass for JA staff from Day 8 of the GLC.

JA Perspectives Part 1:

What does financial capability look like to your students?  How does it relate to their daily lives?  What are your hopes and dreams for the students who participate?  Hear perspectives from JA of Central Ontario (Canada), JA France, JA Hong Kong SAR—China, Prestasi Junior Indonesia, Junior Achievement (JA) Malaysia, JA México, JAYE Malta Foundation, and Junior Achievement Singapore.

JA Perspectives Part 2:

What matters most about teaching and coaching young people along their financial capability journey? What do students take away from the learning experience? What are students surprised to learn most? Hear perspectives from Junior Achievement China, Prestasi Junior Indonesia, Junior Achievement (JA) Malaysia, JAYE Malta Foundation, and INJAZ UAE.

JA Perspectives Part 3:

Why does the learning experience matter? Why do you think the program works? Hear perspectives from Junior Achievement China, Prestasi Junior Indonesia, Junior Achievement (JA) Malaysia, JA México, JAYE Malta Foundation, Junior Achievement Singapore, and INJAZ UAE.

Video: RewirEd Panel

(December, 2021) Watch the complete recording of JA and HSBC’s Panel at the RewirEd Summit, the world’s largest education conference. CEO Asheesh Advani moderates a panel discussion featuring Dominique Ghazar from HSBC, Gus Schmedlen from Merlyn Mind and JA Worldwide’s Board of Governors, and Don Sedlock from JA Worldwide.

 
 

Additional Resources

JA and HSBC talk financial capability and the future of education at the RewirEd Summit

(12/21) Post includes the RewirEd Panel Video.

(click link to view)

JA locations worldwide gaining new educational tools to teach young people how to manage their money

(11/21) Post includes the three short “JA Perspectives” videos from GLC.

(click link to view)

HSBC and JA partner to teach youth financial capability skills

(9/21) Post includes the video titled “Financial Capability: HSBC & JA.”

(click link to view)

Teacher and Volunteer Voices: How are students learning to be financially capable?

(6/21) Post includes volunteer and educator quotes from the 2021 program.

(click link to view)

Student Voices: What is financial capability?

(6/21) Post includes student quotes from the 2021 program.

(click link to view)

Financial Capability and Economic Resilience: What Global Youth Need Now

(5/21) Article by JA and HSBC that appeared in Good Company, JA’s thought leadership magazine.

(click link to view)

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