What is MoneySKILL?

Who developed MoneySKILL®?

MoneySKILL was developed by the non-profit American Financial Services Association Education Foundation (AFSAEF) with grants from several major foundations and is offered free to students through their teachers.

Dr. Lewis Mandell, professor emeritus of finance and managerial economics at the University at Buffalo School of Management, in collaboration with AFSAEF, wrote MoneySKILL; the program content is regularly reviewed to ensure that it is kept up to date.

What does MoneySKILL encompass?

MoneySKILL is a complete curriculum in personal finance which has been reviewed module by module for its alignment with New York State's standards. MoneySKILL meets New York State's requirement for 1/3 semester of personal financial management. It consists of 34 modules covering all areas of personal finance that young adults need to know. The modules are divided into five major areas. It also includes some introductory modules, a pre and post-test and a life simulation.

Pre-test

Introduction

  1. The Plans We Have for Our Lives
  2. Lifetime Plan

Income

  1. Earned Income and Skill Demand
  2. Earned Income and Skill Supply
  3. Property Income
  4. Income from Financial Assets
  5. The Consumer Life Cycle
  6. Income Over the Life Cycle
  7. Federal Income Taxes
  8. Other Deductions from Pay

Expenses

  1. Tracking Expenses and Budgeting
  2. Paying for What We Buy
  3. Using a Checking Account
  4. Renting a Home
  5. Owning a Home
  6. Food and Clothing
  7. Buying or Leasing a Vehicle
  8. Operating a Vehicle
  9. Vacation and Leisure

Saving & Investing

  1. Investing in Physical Assets
  2. Saving
  3. Short-Term Saving Vehicles
  4. Fixed Income Assets
  5. Equities
  6. Mutual Funds
  7. Investing in Business

Credit

  1. Costs and Benefits of Borrowing
  2. Secured Borrowing
  3. Credit Cards
  4. Your Credit Rating
  5. Student Loans
  6. Identity Theft

Insurance

  1. Understanding Insurance
  2. Life, Wills and Disability Insurance
  3. Health Insurance
  4. Retirement

Student Evaluation

Post Test

Frequently Asked Questions

How is MoneySKILL Interactive?

After each concept is presented, (about every 2 - 3 minutes) the student is challenged by a case, problem or question to demonstrate mastery of that concept. The student is told whether his/her answer is correct and the correct answer is explained in some detail. At the end of each module, the student is given his/her score for that module. Scores are instantly reported to the teacher and entered in the Teacher Grade Book. Scores are also available to students on their home page.

How long does it take to complete a MoneySKILL module?

It generally takes students from 20 to 40 minutes to complete a module, depending upon reading speed. This means that the complete curriculum of 36 modules can be completed in 12 to 24 hours. Teachers can choose the modules they want to cover for each class and the order in which they want students to cover those modules. This selection and reordering is done at the time a class is set up in the online teacher administration site.

What are the computer requirements for MoneySKILL?

  • Microsoft Internet Explorer version 6 or Higher*
  • Adobe Flash Player version 8 or higher*
  • Adobe Acrobat Reader*
  • Broadband Internet Connection

*These items can be downloaded free of charge.

What schools are using MoneySKILL?

View our Who is Using MoneySKILL? page.

As a teacher, how do I register to use MoneySKILL?

All you have to do is to log on to www.moneyskill.org and click on the "Course Instructor - Registration" link and simply follow the onscreen instructions. Registration takes 2-3 minutes and approval takes about 24 hours (usually less).

What do I do if I or my students are having technical difficulties?

If your students are having technical difficulties, they should let you know. Ask your students to be as specific as possible regarding the problem (for example, have them note the specific module and question number if there is a problem with a particular question.) It is often helpful to survey other students to see whether they are having the same problem and/or whether they have found a way to resolve the problem.

You can then use the "Contact Support" link on the Approved Teacher page of the MoneySKILL website

What about more general, non-technical questions I might have about MoneySKILL?

The following resources may be helpful

  1. Use the "Contact Support" link on the Approved Teacher page of the MoneySKILL website
  2. Contact Caitlin McNulty, MoneySKILL Project Coordinator, at mgt-moneyskill@buffalo.edu
  3. Contact a teacher who is currently using MoneySKILL. Teachers who have graciously agreed to respond to your questions include: