info@digitalspringboard.org.za

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062 592 5441

Unit B204, Sandown Square Business Park, Cape Town

INTRODUCTION

FinLit is a financial literacy education focused publisher, with an information, communication and technology (ICT) backend, our focus is digital first pedagogical resources. FinLit is positioned at the forefront of digital transformation within the education publishing value chain.

Our purpose is to improve access to educational content while enhancing learning outcomes through the application and creation of technology solutions.

Financial literacy is defined as people’s knowledge of and ability to use basic financial concepts in their everyday financial decision-making.

Consumers in the modern economy must make a wide range of complex financial decisions with potentially long-lasting consequences. The recent rise in inflation, the spread of online financial apps for borrowing and investing, new ways to make payments (‘buy now, pay later’), and the availability of new asset types (e.g. crypto) have all contributed to the need for financial know-how.

OUR DIGITAL SOLUTION

Over the years it has been established that every person learns differently, today more than ever content resources can support those differences. More learners can be supported through digital applications ensuring that no student is left behind. Unlocking the quality in the content requires a more interrogative learning approach, applying a multiple platform approach:

Consumers in the modern economy must make a wide range of complex financial decisions with potentially long-lasting consequences. The recent rise in inflation, the spread of online financial apps for borrowing and investing, new ways to make payments (‘buy now, pay later’), and the availability of new asset types (e.g. crypto) have all contributed to the need for financial know-how.

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We provide Moodle driven content for classroom lessons.

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App designed content for learner engagement and practice.

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Print: Youth Money Guide

FinLit App operates in a gamified environment to improve concept knowledge and financial decision making of students, testing content retention and curiosity. Our unique incentive offering through the App encourages the student to ‘earn while they learn‘.

FinLit content is designed in bite-sized chunks allowing the reader to build the scaffolding for life- enhancing financial decisions.

Digital content is updated ‘live’ in line with market factors and changing policies. This solution-based approach to education publishing means that students will engage with market forces.

FinLit platforms currently deliver financial literacy lessons from grade 9 into University.
The content structure is education first which supports classrooms and universities.
A derivative thereof leads into adult education and easily assimilates with financial wellness programs in corporate environments.
When a young person has a good experience with a brand they remain loyal for over 10 years into their adult cycle.
- Forbes

OUR PRINT SOLUTION

The Youth Money Guide publication is positioned as supplementary reading within Life Orientation for grade 10,11 &12, it is also suitable for TVET colleges.

Working through the guide learners are encouraged to self-pace with interactive prompts that indicate which real-life action could be influenced by the lesson they are in. Summary insights are provided at the end of each module, and some quick quizzes are applied for self-reflection.

CONTENT

PART 1
Goals, Values and Decision-making
Module 1: Your Money Decisions: Who is in Control
Module 2: Your Goals and Your Values
Module 3: Your Goals: Some Things To Consider
Module 4: Decision-making
PART 2
Getting and Earning Money
Module 5: Sources Of Income
Module 6: Career Under Construction: Investing In You
Module 7: Are You an Entrepreneur?
PART 3
Spending Money and Taking Control
Module 8: Money Basics
Module 9: Taking Control Of Your Money
Module 10: Spending On Major Purchases
PART 4
Borrowing Money And Using Credit
Module 11: Borrowing Money
Module 12: Getting And Managing Credit
PART 5
Saving and Investing Money
Module 13: Putting Your Money To Work
– Saving And Investing
PART 6
Protecting Assets And Planning For The Future
Module 14: Protecting Assets –
And Planning For Financial Independence

BACKGROUND

Historically banks played a pivotal roll in educating consumers about money, branch clerks would pain stakingly explain all terms and conditions while clarifying the risks associated with debt services. Today banks provide services virtually in ‘ghost’ environments (virtual banking) often never seeing the actual consumer until a critical service complaint arises.

The logistics of the banking services through branches helped deliver consumer education. The purpose of financial education is however not limited to the use of banking services and products.

Understanding money flows and how your money can make money is essential.

“Financial literacy challenges confront developing economies and advanced economies a like. In China, for example, credit card ownership has doubled since 2011 to 16 percent (yet only half of credit card owners can perform simple calculations related to interest.”
*Demirguc-Kunt et al., 2015

FINANCIAL CAPABILITY

A good financial education supports the world economic policy standards towards better consumer protection. A research review by a team of World Bank experts found that targeted financial literacy programs that are focused on specific behaviours and populations can lead to smarter financial decisions.

Each lesson is designed to improve capability, for someone to have financial capability they must be able to identify what is happening in a specific economic situation, recognise an appropriate response, and have the personal confidence required to put the response into action.

Financial capability is a unique combination of knowledge, application and confidence, which leads to action and achievement that overtime results in financial freedom.

Today’s students are creative and engaging, testing the bounds of what self-paced education can do for them, our desire is to keep the student within reach of this changing content at every step of their life plan.

FinLit publications are created by writing teams and verified by accredited professionals. As a financial markets offering we affirm that FSCA registered providers and SAICA certified professionals have reviewed and endorsed all content. The content development team applies the guidelines provided by the Canadian Foundation for Economic Education.

As a content team we strive to stay on top of legislative amendments so that you know better. With over 20 years financial industry experience, FinLit editors are professionals that give of their time and expertise, curating the unique stories in that provide the context to financial terms.

We serve our communities in the hope that unique innovations will follow from this new generation of tech savvy, financially literate adults.

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