NGPF Podcast: Churchill Fellow Phil McGilvray shares lessons from his three country financial education tour
Phil reached out to me about a year ago via email to schedule a meeting during his trip to the States from Australia. Our paths crossed at the Dover, Delaware FinCamp this spring which was fortuitous given the logistical challenges he encountered while en route. As a recipient of the prestigious Churchill Fellowship, Phil chose to investigate innovative methods of equipping teenagers with essential financial skills for life in the U.K., U.S. and Canada. In this podcast, he shares what he learned in his travels which included meetings with over 60 movers and shakers in the financial education field. You will be fascinated to learn about the similarities and differences that Phil found in his research across these three countries. A must-listen for anyone interested in hearing about best practices in the field from a keen observer.
- 0:00~1:43 Introduction
- 1:43~4:31 Phil’s background
- 4:31~9:19 Early money lessons
- 9:19~12:44 How Phil found NGPF
- 12:44~15:12 Traveling through Canada and the US
- 15:12~19:28 What Phil observed during his fellowship
- 19:28~21:34 The importance of professional development opportunities
- 21:34~26:05 Good examples of professional development
- 26:05~26:42 A word from NGPF
- 26:42~28:00 Getting other teachers involved
- 28:00~35:05 Recommended resources
- 35:05~38:50 Using digital resources, social media
- 38:50~44:46 Bringing parents into the conversation
- 44:46~57:08 How to help create financially capable adults
- 57:08~60:43 How personal finance education differs in Canada and the UK
- 60:43~63:34 Conclusion
“A big key factor in engaging the students is making sure the teachers or an outside expert really know the topic and know how to present that in a very engaging way. Obviously, another key factor is meeting the kids where they are at in terms of what you are talking about. They have to be able to relate with the examples, situations, case studies, or whatever you are discussing needs to be relevant to them.”
About the Authors
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
Ren has been working part-time at NGPF since 2014, interning through high school and college. With his knowledge growing alongside NGPF, after graduating from college in 2020, he joined the team to work full time with a focus on teacher onboarding. He is also the editor of the NGPF podcast and makes sure it is accessible to teachers on iTunes, Stitcher, and Google Play Music. During his free time, he likes to try out coffees from different roasters across the world and try out new brewing methods, even though personal finance gurus tend to caution against buying a cup of joe.
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