Proposal For A Public Campaign

Financial Literacy Awareness
Campaign Grant Proposal
I. Introduction of Objective
The purpose of this proposed financial literacy campaign is to foster an informative

environment that ultimately motivate Americans to make better financial decisions. Many
consumers struggle with financial literacy, and it can lead to years of struggles with
savings and investments. Having good financial habits is more and more crucial today as
the world continues to see resurgences of the COVID-19 delta variant. Changes in
consumer habits with increasing e-commerce and credit card usage over the past couple
of years have made it easier for debt to accrue, and a lack of proper financial literacy will
result in the trap of financial trouble. Ensuring that individuals have proper financial
knowledge to maintain their daily lives while preparing for the long run into the future is
crucial to the maintenance of financial markets and national economic health. This
campaign is designed to deliver financial education resources and spread awareness about
how crucial it is to focus on ensuring American consumers are educated on proper
financial literacy. The desired outcome of this campaign is to target undereducated
segments of consumers and teach them basic financial lingo to assist with their long-term
savings goals and retirement account, investment, credit, and mortgage debt management.
II. Research
After facing economic recession during global lockdowns, where interest rates have
been lowered to near-zero by the Federal Reserve to lower the cost of borrowing,
financial decision-making has still been a challenge for millions of Americans.
Recent research shows that if financial illiteracy is untreated, then it would not only
undermine individuals’ lives but also threaten family and societal cohesion.
 According to a 2016 survey done by Bank of America, only 31% of

Americans felt that their high schools prepared them well with a solid
financial literacy foundation
 An OECD study found that despite possessing better financial literacy, well-
educated people with high incomes can be just as ignorant about financial
issues as lower-income and less-educated people
 The FINRA found that the disparity between groups who are and are not
financially literate have been increasing over time amid the past decade; they
also found differences “among different ethnic groups, with White and Asian
adults showing more proficiency than Black and Hispanic survey respondents.
White and Asian adults correctly answered 3.2 of six questions. Hispanic
adults answered 2.6 of six questions correctly, and Black adults were able to
answer 2.3 questions correctly.”
 The “Report on the Economic Well-Being of U.S. Households in 2019”
prepared by the Fed’s Board of Governors found that many Americans do not
feel prepared for retirement, with 25% indicating that they have zero
retirement savings
 Although new banking regulations have tightened after the 2007-2009
financial crisis that resulted from a failure to understand mortgages and credit,
financial literacy is still crucial because it can help build a competitive global
economy
 Financial literacy allows people to provide for their own future and their
families’ futures; having a basic knowledge of financial markets and finances
will assist with long-term savings plans that will help build wealth, provide
for ease in retirement, and assist with preventing a paycheck-to-paycheck
lifestyle
Although many high school and college programs seek to educate students on strategies
with financial planning, savings, investments, insurance, credit, and mortgages, a high
proportion of people still do not feel like they have grasped a solid foundation of
financial literacy to prepare them for the future. The Financial Industry Regulatory
Authority (FINRA) carries out a campaign in the form a financial literacy five-question
test through its National Financial Capability Study once every few years to measure how
much consumers know about interest, financial compounding, inflation, diversification,
and bond pricings. Between 2009-2018, the study found that that only 34% of the
respondents had an 80% accuracy rate or higher, which indicates that the lack of basic
financial literacy continues to remain a widespread problem.
Additionally, Robert H. Smith School of Business alumni Tunji Onigbanjo decided to

start his own financial literacy campaign through creating a personal website “The Tunji”
after noticing that his peers did not carry the same knowledge of finance that he had.
Throughout his website, he writes his own articles explaining anything from concepts of
basic finance to advanced financial investment terminology. Through his own campaign,
Onigbanjo aspires to simplify financial terms to ensure that everyone is able to learn how
to save, invest, and utilize credit for long-term income growth and success.
Although all of the aforementioned campaigns are very efficient, there continues to be a
lack of financial literacy campaigns on modern social media. 2021 brings an age of
uncertainty after the world faced a series of lockdowns, and people have adjusted to
quarantines scrolling through social media. Modern marketing tactics must factor
advanced digital media and social media strategies to draw attention to today’s youth and
young adults – whom will be the future of the economy. The current proposal seeks to
remedy these shortfalls by providing navigable information on investment options,
personal finances, and credit information through strategic design-based-infographics on
webpages and social media to stimulate the flow of knowledge about financial literacy.
Target Audience
This campaign primarily aims to reach the target audience of teenagers and young adults
through social media and the Internet. As of 2021, Possible Finance published a blog that
highlights ground-breaking financial literacy statistics within the United States. A
National Bureau of Economic Research study indicates that having higher financial
literacy has a positive association with an individual’s ability to overcome
macroeconomic crises like COVID-19 or 2007-2009’s credit crisis. On this website, one
striking statistic shows that only 24% of millennials understand basic financial topics.
Financial illiteracy burdens the cost of $1,600 per person in 2020, and this totals to $415
billion nationally. As a result of these striking statistics, it is crucial to target young adults
of today because their financial decisions will be the future of the national economy –
specifically millennials and Gen Z. With proper financial education, Gen Z and
millennials will be able to make sound financial decisions so they can provide for the
future of the national economy and not struggle with situations where they would end up
defaulting, living by paycheck, or not know what to do during a next possible recession.
Communication Strategy (add more, to 400 words)
Although lower-income community members of all generations are affected the most by
financial illiteracy, this campaign will have target audience limitations because of its
digital communication strategy method. Throughout lockdown, the world saw an increase
in technology and social media usage, paving way for information to spread via digital
means, whether it is an Instagram post, SnapChat story, or startup website. Gen Z and
millennials have had more exposure to these modern communication means than their
older generation counterparts, and modern marketing techniques through social media
posts and stories can make a huge difference with information outreach. This financial
literacy campaign will entail a social media toolkit that will utilize Instagram post
graphics designed on PhotoShop and Canva. The emphasis on easy-to-follow graphics
and statistics will not only capture the target audience’s eyes through modern marketing
techniques but spread crucial financial literacy concepts in a navigable and unique
manner. Examples of said infographics will include information on banking, retirement,
savings, investment options, mortgages, and much more.
Analysis, Evaluation, and Measurement
To determine the effectiveness of this campaign, analytical methods can be conducted

through a times-series panel sampling method. A panel study involves selecting a group
of individuals to be a part of this campaign study, where they will participate in surveys
over time. To ensure that there is not inherent bias present with the sample, panel
respondents should be selected randomly from a diverse pool of people. A baseline
survey can be conducted to measure initial financial literacy performance. After this,
levels of recall, understanding, and knowledge can be monitored with additional Google
Form based surveys.
III. Procedures
a. Desired Outcomes
b. Target Audiences
c. Communication Strategy
Works Cited:
"FinEDge Statistics." finEdge, U of Chicago, finedge.uchicago.edu/advocacy/
stats. Accessed Dec. 2021.
Fu, Chang. "32 Must-Know Financial Literacy Statistics in 2021." Possible

Finance, 15 Feb. 2021, www.possiblefinance.com/blog/
financial-literacy-statistics/.
Silver, Caleb. "The Ultimate Guide to Financial Literacy." Investopedia, 14

Sept. 2021, www.investopedia.com/guide-to-financial-literacy-4800530.
Accessed 19 Dec. 2021.
Zucchi, Kristina. "Why Financial Literacy Is So Important." Edited by Erika

Rasure. Investopedia, www.investopedia.com/articles/investing/100615/
why-financial-literacy-and-education-so-important.asp. Accessed 19 Dec.
2021.

Proposal For A Public Campaign

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Proposal For A Public Campaign

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Financial Literacy Awareness

Campaign Grant Proposal

The purpose of this proposed financial literacy campaign is to foster an informative

 According to a 2016 survey done by Bank of America, only 31% of

Additionally, Robert H. Smith School of Business alumni Tunji Onigbanjo decided to

Communication Strategy (add more, to 400 words)

Analysis, Evaluation, and Measurement

To determine the effectiveness of this campaign, analytical methods can be conducted

Fu, Chang. "32 Must-Know Financial Literacy Statistics in 2021." Possible

Silver, Caleb. "The Ultimate Guide to Financial Literacy." Investopedia, 14

Zucchi, Kristina. "Why Financial Literacy Is So Important." Edited by Erika

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