Assess development of the building blocks of financial capability
CFPB has resources for assessing young people’s progress toward achievement of the financial capability milestones.
To help young people develop the building blocks of financial capability, it’s important to gauge what they know, understand, and can do.
To support this effort, we have designed a series of assessment tools informed by the CFPB’s measurement guide. These tools assess the attitudes, skills, and habits a young person has by measuring their development of three interconnected building blocks of financial capability: executive function, financial habits and norms, and financial knowledge and decision-making skills. You can use this information to measure childrens’ progress and inform classroom teaching.
Read the measurement guide
CFPB has identified a set of guidelines and measures based on existing research studies and evaluation tools that can be used to assess children’s progress toward achievement of financial capability milestones.
Youth financial capability survey
Identifying young people’s emerging financial capability at a specific moment in time gives a picture of what developmental milestones have been achieved. In addition, it can show progress over time. To better understand what goes into their overall financial capability score, youth are given information about their areas for growth as well as their areas of strength. They can use this information to reflect on what they might do to improve their financial capability.
General assessment tools for educators
To help you measure and track children’s development of the building blocks of financial capability, CFPB designed these easy to use measurement tools. Developmental milestones are things most children can do by a certain age.
This checklist will help you collect individual and class data by observing students’ demonstration of the milestones of financial capability.
Developmental milestones chart
Measure your students’ knowledge and skills development according to established financial capability milestones.