Impact Report

 

IMPACT
 REPORT
 
(2013-­‐2014)
 

 


 

Partner
 


 

El
 Cerrito
 High
 School
 

 

Impact
 report
 (2013-­‐2014)
 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CA$H FLOW (Financial Literacy Outreach Workshop) aims to address the
problem of low financial literacy by bringing personal finance classes to high
schools. Through these classes, high school students will 1) become better
equipped to make informed financial decisions throughout their lifetime 2) be
encouraged to share their financial empowerment with their peers and
families. Our objective is to focus on helping students identify long-term
financial goals and ways to best achieve them. We hope to show the students
that the costs of college should not deter them from seeking higher education
and that there are various post-secondary options besides four-year
institutions. Our program will be unique in the peer-to-peer coaching and
gamification aspects we emphasize in our curriculum. These measures will not
only create a more encouraging environment for students to learn in, but will
also help ensure the retention of our program.


 

 

 

 


 
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Impact
 report
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E L
  C E R R I T O
  H I G H
  S C H O O L
 

EXECUTIVE
 SUMMARY
 
The primary goal of CA$HFLOW’s pilot program with El Cerrito High is to increase the
opportunity for students to be exposed to topics that are not traditionally taught in American high
schools, and to make students college-ready with a fun and tailored curriculum. The underlying
assumption is that by providing workshops on financial knowledge in small classroom settings,
students would have an intimate space in which they develop good habits, discover their
purposes, and realize their potential. The individualized curriculum and experienced instructors
all serve to help the students to become better problem solvers and critical thinkers. CA$HFLOW
was established in 2012 with a group of UC Berkeley students passionate about education. Since
then, CA$HFLOW has completed a weeklong intensive Summer Bridge program at El Cerrito
High in 2012 and administered a semester long workshop series at various venues.

ABOUT
 THE
 IMPACT REPORT
This impact report focuses on the impact of the CA$HFLOW program on El Cerrito High School
students that were enrolled in the program from 2013-2014. It aims to address two questions:
1. Are students that have gone through CA$HFLOW program more prepared for their
transition into college?
2. Does the impact of CA$HFLOW program transfer into better performance in their high
school curriculum?
To answer these questions, we utilized pre and post surveys and relied on active feedbacks we got
from the students, taking advantage of the small classroom setting to prompt discussions that
would improve the program and help CA$HFLOW work better with educational institutions.
The primary student outcome for this program were confidence on their financial well-being and
stronger knowledge on the college preparation process (especially in college financing). We will
also be tracking their academic success and personal development in the next few years.

SUMMARY
 
CA$HFLOW aims to provide a small classroom setting with our rigorous curriculum, this has
resulted in small sample size. Although the findings from the pilot program are applicable only to

 
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 report
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a handful of students included in the sample, they provide strong evidence for the positive impact
of CA$HFLOW on high school students. Enrollees have a better grasp of their future and
financial planning, and are more likely than their peers to want to enroll in college and complete
it. Their early exposure to financial topics may translate to them accruing less educational debt,
having higher lifetime earnings and being financially independent early in life. In addition,
CA$HFLOW can potentially mitigate the traditional educational attainment gaps between
advantaged and disadvantaged students.
Furthermore, our program has helped open dialogues between students and parents by providing
students with material and information that they can share with their families. We provided
students with information about applications and financial aid in one session, so that they started
exploring tuition options months before FAFSA is due and be better at equipped with making
informed decisions. Our first class on budgeting involved bringing a budget planning worksheet
back to their household to spark potential conversations on better financial planning.

Program
 Details
 
IDENTIFYING
 STUDENTS
 


 


 

 

 
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Spring
 2013
 (April-­‐May)
 

The CA$HFLOW team identified El Cerrito High School (ECHS) as an ideal location for the
peer-to-peer workshop pilot program, and proceeded to establish formal relationships with the
principal, counselor, and various teachers at the school. We recruited our initial class of peer
coaches through in-class presentations, lunchtime presentation, school radio announcements, and
from teacher referrals.

SUMMER
 BRIDGE
 

Summer
 Bridge
 started
 on
 August
 10th,
 2013
 and
 was
 a
 ,ive
 days
 intensive
 training
 program
 of
 
CASHFLOW
 that
 held
 place
 in
 El
 Cerrito
 High.
 At
 the
 end
 of
 the
 course,
 they
 can
 choose
 to
 take
 a
 
comprehensive
 exam
 and
 become
 certi2ied
 CASHFLOW
 Financial
 Literacy
 Student
 Instructors.
 
They
 then
 would
 go
 on
 to
 teach
 their
 peers.
 Students
 received
 individual
 attention
 from
 the
 
instructors
 and
 learned
 effectively
 in
 a
 smaller
 class
 room
 setting.
 
 
Curriculum:
 
INTRODUCTION
• Expectations for & of the class
• Who are we? Why are we here?
• Outreach
o CASHFLOW Student Bridge Programs
o Peer-to-Peer teaching model
o Berkeley Student Organization
o Partnerships
• What is financial literacy? Why is it important?
BUDGETING
• What is budgeting? Why budget?
• Time Budgeting – provide schedules
• Shift into budgeting of money – income & expenses – provide sample sheets for practice
o Familiarize with basic accounting terms: assets & liabilities
o Example of assets & liabilities bank sheet
• Typical college expenses: rent, food, transportation, fun
• Finding part-time jobs/internships during school year
• College tuition – paying for college
SCHOLARSHIPS & FINANCIAL AID
• ·
Student Loans (private & public)
o How it works
o How to pay back
o A way to build credit
• ·
Scholarships
o UC Berkeley
§ § Leadership Awards
§ § Regional Scholar
o UC Davis
o UC Merced
• ·
Financial Aid
o UC system & CSU system & Community college system
o Transfer from CC into UC in junior year
o How the system works
o Application process
BANKS & FINANCIAL INDEPENDENCE


 
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o
o
o
o
o
o
o

Debit vs. Credit
Checking vs. Savings accounts
Student accounts
Banks vs. Credit Unions
Checks – writing checks
Credit Score
Life after high school

LEADERSHIP & PUBLIC SPEAKING
o What is leadership?
o How to be a leader?
o Leader vs. follower
o What kind of leader are you? – Leadership color test
o Effective public speaking strategies
o Practice with leading groups & public speaking
MISCELLANEOUS
o For profit universities
o Extreme Couponing


 


 

 

 

 

 


 
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 report
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SAMPLE
 QUESTIONARE
 
 

Name

What do you know
about financial
literacy?

Why do you want to participate in the summer
bridge program?

Sara
Inphachack

I heard from a
presentation at my high
school that financial
literacy teaches
students about credit,
credit cards, budgeting,
and more.

I want to participate in the summer bridge program because even after
all the information about financial aid that I've recieved at school, I feel
that I still don't know anything about budgeting or about paying bills. I
also am interested in finding more about what the program has to offer
to students.

Yoseph
Alkahli

Whitney
Ounniyom

Financial Aid
Scholarships
To be honest, I do not know
much about financial
literacy. I always thought it
was about money
management during college.
I was hoping by joining this
program I would learn what I
should about financial
literacy.

Ali Alkaheli

I know that it has to deal with
money.

Noelle
Kobayashi

Students from UCB came an
talk to us about it in class
I know that it has to do with
managing money
I don't really know about it,
but from the signups during
school it will be about
money, how to save it and
how to handle it during the
future, so I am guessing that
is what financial literacy will
be about.
Balancing a checkbook
The difference between a
credit card and a debit card
Interest rates

Anthony
Gutierrez

It helps you and educates
you on how you can save
money.

Sana khan
Oscar Aguilar

Mengel
Comandao

To know more about how those work and what I'll need to do for me to
save money and how to do college applications and much more.

I don't have any knowledge about financial literacy, let alone college.
This program seems like a interesting opportunity for me to gain more
knowledge and experience. This will help me to be prepared for the
transition from high school to college, where I should be financially
knowledgeable and responsible.
That it teaches you about colleges and help you how to save money so
in the future when your alone you'll know what to do.
Because it would help me understand Econ and help me teach others
an it seems fun
To learn how to manage my money for when i have a job

It would be good to learn about all the different ways to save money, I
was very interested to learn that there will be speakers from Cal coming
over to speak to us, plus these work shops will be really helpful in my
future. I plan to learn how to save money especially since I am going
into college soon, learning ways to save money would help a lot.

I want to learn more about financial literacy.
I want to know what things I could do to be smarter with my money.
Also, I'm an upcoming senior, and with college around the corner I want
to be able to know how to spend my wisely because I know college isn't


 
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 report
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cheap.

Maggie Li

I don't know.

I want to get more experiences.


 

 

PROGRAM
 ACCESSMENT
 
 
1.
2.
3.
4.
5.
6.

How
 con'ident
 do
 you
 feel
 of
 your
 knowledge
 about
 banking,
 credit
 and
 debit
 cards?
 
How
 con'ident
 do
 you
 feel
 of
 your
 knowledge
 about
 the
 different
 types
 of
 loans?
 
How
 con'ident
 do
 you
 feel
 about
 your
 'inancial
 future
 outside
 of
 high
 school?
 
How
 con'ident
 do
 you
 feel
 about
 having
 control
 of
 your
 'inancial
 future?
 
How
 con'ident
 do
 you
 feel
 in
 your
 leadership
 and
 public
 speaking
 skills?
 
How
 con'ident
 do
 you
 feel
 about
 controlling
 your
 'inancial
 future
 when
 in
 college
 and
 
the
 %inancial
 aid
 knowledge
 that
 you
 will
 need
 to
 know?
 


 
Pre-Program Question 1 Question 2 Question 3 Question 4 Question 5 Question 6 TOTAL
Student A
3
2.5
2
2
2
2.5
14
Student B
3
2
4
3
2
3
17
Student C
2
2
3
4
5
3
19
Student D
2
1
3
3
4
4
17
Student E
2
3
4
4
3
3
19
Student F
3
1
1
2
2
3
12
Student G
2
3
3
3
3
3
17
Student H
2
1
1
1
2
2
9
Student I
3
2
2
3
3
4
17
TOTAL
19
15.5
21
22
23
23.5
124


 
Post-Program Question 1 Question 2 Question 3 Question 4 Question 5 Question 6 TOTAL
Student A
5
5
4
4
5
5
28
Student B
4
3
4
4
3
4
22
Student C
4
3.5
3
3
2.5
3.5
19.5
Student D
5
3
4
5
5
5
27
Student E
4
4
5
4
5
5
27
Student F
4
3
4
4
2
4
21
Student G
4
5
4
4
4
4
25
Student H
4
3
4
4
2
3
20
TOTAL
34
29.5
32
32
28.5
33.5 189.5


 
*Student
 I
 was
 absent
 for
 post-­‐program
 survey
 

 

 

 
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Semester
 Long
 Pilot
 Program
 in
 2013
 


 

 


 

 


 
The
 pilot
 program
 in
 2013
 was
 to
 further
 consolidate
 the
 knowledge
 learned
 in
 Summer
 Bridge
 
and
 recruit
 more
 interested
 students.
 The
 topics
 of
 the
 pilot
 program
 are
 generated
 by
 the
 
students
 and
 for
 the
 students.
 A
 questionnaire
 is
 emailed
 out
 before
 class,
 and
 the
 interested
 
topic
 will
 be
 taught
 during
 the
 class.
 The
 classes
 were
 both
 held
 in
 El
 Cerrito
 High
 as
 well
 as
 UC
 
Berkeley
 Campus.
 
 
Exhibit A. CA$HFLOW IMPACT REPORT CONCEPTUAL FRAMEWORK

Session 1. Banking, credit/debit, budgeting, saving, credit report/credit score
“Where
 can
 we
 get
 our
 credit
 report/score?
 What
 is
 the
 difference
 between
 big
 and
 small
 
banks?”
 
Session 2. Ways to finance education, FAFSA, scholarships, student loans
“We
 didn’t
 know
 there
 was
 a
 deadline
 for
 FASFA”
 “Where
 can
 we
 get
 information
 on
 
scholarships?”
 

 
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Impact
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Session 3. Insurance - Health, Auto, Home, Life
“Why
 should
 I
 care
 about
 health
 insurance?”
 “I
 want
 to
 buy
 a
 car,
 what
 should
 I
 look
 out
 for?”
 
Exhibit
 B.
 See
 CA$HFLOW
 Student
 Binder
 
 
 

 

“It
 was
 great
 meeting
 up
 with
 those
 from
 CA$HFLOW
 who
 gave
 us
 an
 
opportunity
 to
 learn
 about
 .inancial
 literacy.
 I
 was
 excited
 to
 come
 together
 
as
 a
 class
 again
 and
 learn
 more
 about
 what
 we
 were
 introduced
 to
 such
 as
 
banking,
 scholarships,
 and
 time
 management.
 The
 resources
 and
 
information
 given
 was
 really
 insightful
 and
 I,
 now,
 feel
 more
 inspired
 about
 
working
 hard
 for
 college
 as
 well
 as
 coming
 to
 the
 meetings
 and
 trying
 to
 get
 
fellow
 students
 to
 participate
 as
 well.”
 -­‐Whitney
 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 

STUDENT
 OPEN
 ENDED-­‐SURVEY
 RESPONSES
Mengel
 (1st
 year
 community
 college)
 
Sara
 (1st
 year
 community
 college)
 
Sana
 (12th
 grade)
 
Yoseph
 (12th
 grade)
 
Carol
 (11th
 grade)
 

 
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Impact
 report
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1. What did you expect to learn from the program?
Mengel:
 To
 learn
 and
 take
 classes
 from
 CA$H
 FLOW
 was
 interesting
 and
 I
 expected
 drilling
 
lessons
 about
 +inance
 and
 insurance
 but
 they
 took
 individual
 time
 for
 different
 subjects,
 so
 it
 
was
 interesting.
Sara: I
 expected
 to
 learn
 more
 about
 banking
 and
 about
 taxes
 because
 I
 was
 going
 to
 open
 a
 
bank
 account
 at
 the
 time.
Yoseph: I
 expected
 to
 learn
 about
 how
 to
 prepare
 for
 college
 and
 the
 different
 types
 of
 loans.
 
Sana:
 I
 expected
 learn
 from
 this
 program
 about
 how
 to
 manage
 my
 banking
 and
 expenses
 when
 
I’m
 older.
 
Carol:
 I
 expect
 to
 learn
 how
 to
 save
 money
 and
 work
 with
 a
 bank
 better.
 
 I
 also
 want
 this
 to
 help
 
me
 with
 future
 decisions
 even
 after
 college.
 
 
2. Did we meet your expectations? How?
Mengel:
 Yes,
 my
 expectations
 were
 met
 because
 I
 got
 a
 good
 grab
 of
 knowledge
 about
 a
 range
 of
 
topics.
 
Sara:
 I
 did
 learn
 a
 lot
 about
 banking
 and
 am
 managing
 my
 *inances
 well
 because
 of
 the
 info.
Yoseph: Yes,
 because
 I
 learned
 a
 lot
 about
 how
 to
 get
 ready
 for
 college
 and
 the
 different
 types
 of
 

loans
 in
 college.
 
Sana:
 Yes,
 I
 learned
 about
 banking
 and
 the
 different
 types
 of
 banks
 and
 how
 to
 save
 up.
 
3. How can we improve?
Mengel:
 We
 can
 go
 over
 more
 on
 taxes
 and
 controlling
 bills
 with
 credit
 and
 debit.
 
 And
 also,
 to
 
!ind
 a
 rom
 to
 talk
 in
 but
 walking
 around
 UC
 Berkeley
 is
 always
 fun
 with
 the
 group.
 
“As
 a
 &irst
 year
 student
 in
 college,
 each
 CA$H
 FLOW
 meeting
 provided
 valuable
 information
 and
 
gave
 me
 a
 better
 idea
 of
 how
 to
 continue
 my
 road
 into
 college
 without
 any
 worries
 with
 my
 
!inances.
 
 CA$H
 FLOW
 has
 also
 helped
 me
 better
 understand
 money
 especially
 by
 answering
 any
 
complicated
 questions
 my
 peers
 and
 I
 ever
 had
 about
 credit/debit,
 4inancial
 aid,
 scholarships,
 
paying
 bills,
 and
 the
 future.
 
 I
 wish
 more
 people,
 not
 only
 students
 but
 adults
 too,
 would
 know
 
about
 CA$H
 FLOW
 so
 that
 they
 can
 learn
 this
 valuable
 knowledge
 that
 we
 are
 learning.
 
 I
 hope
 
CA$H
 FLOW
 can
 continue
 well
 into
 the
 future
 to
 give
 more
 people
 a
 sense
 of
 how
 to
 take
 on
 the
 
world
 by
 managing
 their
 money
 in
 smarter
 ways.”
 
Sara:
 I
 wanted
 to
 learn
 more
 about
 taxes
 since
 it’s
 tax
 and
 FAFSA
 season.
 
 
 
Yoseph:
 More
 guest
 speakers.
 
Sana:
 More
 guest
 speakers.
 
 

 
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 report
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PROGRAM
 ACCESSMENT
 
We are trying to track pre- and post-program levels of personal finance knowledge, how the
program has affected students’ behavior with money, and how the students’ overall relationship
with money has developed due to the program. In addition, we would like to examine whether or
not financial literacy workshops targeted towards students have the ability to affect the financial
engagement of a family as a whole.

 

 
SAMPLE
 ACCESSMENT
 SURVEY
 

Objective: Identify long-term financial goals
Indicators:
-I feel that I can manage my financial future
-I will not be in any debt in ten years
-I have confidence that I will be financially independent for myself in ten years
-I have concrete plans on how to I want to spend the money I saved
-My parents and I are in conversation about my finances as well as theirs
Objective: Identify ways to best achieve them
Indicators:
-I have made a switch from spending on discretionary items to necessary items
-I keep track of the numbers of times my bank account is overdrawn
-I have a budget sheet to keep track of my spending and savings
-I know how to research for resources that can assist me in my financial decision-making
Objective: Cost of college is not going to deter from seeking higher education
Indicators:
-I believe that financial difficulty is not a factor of me not attending college
-I know how to budget for higher education
-I understand the benefits and costs associated with financial aid and scholarship
-I believe that I will be able to avoid education debt
Objective: Students can make informed financial decisions
Indicators:
-I understand banking options
-I understand basic financial terms
-I can pass on what I know about personal finances to my peers and families
-I feel that I know enough knowledge to make my own decisions on big financial purchases


 
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 report
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CONCLUSION
 
Our
 goal
 for
 the
 impact
 report
 is
 to
 access
 the
 degree
 to
 which
 CA$HFLOW
 improved
 student
 
outcomes.
 The
 pre
 and
 post
 survey
 statistics
 from
 Summer
 Bridge
 suggested
 the
 program’s
 
signi%icant
 positive
 impact
 on
 each
 of
 the
 students
 in
 all
 impact
 areas.
 Two
 of
 the
 students
 went
 
on
 to
 become
 enrollees
 in
 the
 semester
 long
 program.
 
 
Students
 that
 have
 gone
 through
 CA$HFLOW
 program
 are
 more
 equipped
 to
 make
 informed
 
decision
 about
 attending
 college.
 At
 this
 point
 we
 are
 unable
 to
 access
 the
 impact
 of
 CA$HFLOW
 
program
 and
 its
 correlation
 with
 high
 school
 performance,
 however,
 in
 open-­‐ended
 survey
 
responses,
 students
 commented
 on
 the
 value
 of
 0inancial
 knowledge
 that
 is
 not
 traditionally
 
offered
 at
 school
 and
 the
 importance
 of
 college
 preparation.
 As
 a
 whole,
 the
 impact
 report
 
illustrated
 that
 CA$HFLOW
 had
 a
 positive
 and
 meaningful
 impact
 on
 the
 students’
 future
 
outcomes.
 
 

 

 

 


 
 
 
 
 
 

 


 
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