What Does It Mean to Do Financial Literacy/Math in an Out-of-School Program?

• In Event: Problematizing the Relationship(s) Between Financial Literacy and Mathematics in Multiple Educational Spaces

Abstract

Financial literacy can typically be defined in terms of knowledge and skills to make financial decisions (Mason & Wilson, 2000, p. 31). However, it also involves understanding the impact of existing social structures (e.g., race) that provide or impede access to financial resources. As financial literacy exists as a strand in the mathematics curriculum, we still know very little about the race-based impact of learning it in mathematics. To understand racialized experiences, scholars have investigated multiple levels - individual, institutional, structural, and systemic (Battey & Leyva, 2016; Bol & Berry, 2005; Jackson & Wilson, 2012; Martin, 2009). Hence, we do not approach financial literacy from a neutral perspective and rather begin with the idea that Black youth’s exploration in financial literacy deserves a deeper investigation.
In collaboration with a non-profit organization, we involved 13 Black-identifying youth in a program that spanned four half-days. The program focused on exploring financial topics to identify beneficiaries and marginalized groups. Our program was carefully designed to provide critical engagement beyond the scope of the Ontario curriculum. To achieve this, we employed a diverse methodology, which included verbal discussions in two focus groups and general group settings, as well as one-on-one interviews. Moreover, we encouraged creativity and expression through tangible projects, such as arts-based learning involving drawings, sticky notes, visual aids, pictures, and maps.
In this presentation, we will highlight instances where financial discussions became entwined with various facets of the real-life experiences of Black Youth. Two examples provide an illustration of these experiences. Example 1: as we explored expenses linked to post-secondary education, this module sparked discussions around university admission processes. Students raised questions regarding admission practices and expressed concerns about potential discrimination based on their neighborhoods. This discussion proved to be significant, as it revealed the heightened awareness amongst Black Youth about the perceptions and potential biases associated with racialized and low-income neighborhoods.
Example 2: Air Jordan sneakers carry immense cultural significance for Black youth, symbolizing status, belonging, and identity. We utilized Jordans as a situation of appreciation and depreciation, we explored how multiple factors can influence the cost of products. The students took charge of the activity, challenging market prices by designing their own sneakers, considering materials and costs. This activity proved significant as they expressed a deeper understanding of value, market trends, and product inflation.
The program was deliberately designed without the rigid constraints of curriculum expectations, allowing financial literacy to intertwine with other real-life elements, creating a complex and nuanced understanding of financial literacy. By centering the program design around the ideas and experiences of the Black youth in the community, the program effectively addressed specific issues that held significance to them. As we will discuss in this presentation, financial literacy and mathematics served as lenses through which the youth made sense of their lived experiences, transcending their roles as passive participants and gained a greater understanding of their world in personal, systemic, and global contexts.

Authors

• Molade Osibodu, York University

• Alexandre Cavalcante, University of Toronto