FREQUENTLY ASKED QUESTIONS

What makes NJFLAN different from other financial education initiatives?

• NJFLAN is not another financial education program, lesson plan, curriculum, or workshop.  NJFLAN is a statewide public/private partnership designed to promote financial literacy awareness and financial responsibility among NJ residents from kindergarten through adulthood.
• NJFLAN is a statewide distribution channel that aggregates and provides easy access to existing financial education programs and materials through learning center displays and the resource guide (online and book version).
• NJFLAN captures and measures data from the distribution of financial education materials, usage of financial calculators, and results from financial assessments.

Who is involved with NJFLAN?

• The State of New Jersey launched the New Jersey Financial Literacy Awareness Network led by the NJ Department of Banking & Insurance and Commerce & Economic Growth Commission.
• Supporting associations are NJ ACORN, NJ Bankers, NJ League of Community Bankers, NJ Coalition of Financial Education, NJ Credit Union League, Insurance Council of NJ, and NJ Coalition of Automotive Retailers

How is NJFLAN structured?

• NJFLAN is structured through three steering committees formed at the State level.  The steering committees are oversight & implementation, assessment, and outreach & communications.  The steering committees are made up of both public and private sector entities.

What data does the State have access to?

• The State has access to data from local financial education providers that participate in the Network, and categorize by organization, municipality, county, and statewide.  This data may help identify statewide needs, trends, and target goals.

How would Financial Assessments/Quizzes be used?

• Financial education providers will conduct a financial literacy needs assessment of individual consumers, provide the consumer with an assessment indicating areas of weakness, and list financial education materials that may be helpful.
• Assessments are taken both online and traditional paper.

How are Assessments/Quizzes developed?

• Assessments are created via the assessment committee.  The assessment committee is made up of members from State Agencies, Universities, Corporations, and Community Based Organizations.

Does NJFLAN compliment your existing financial education program?

• YES.  NJFLAN is designed to compliment and support your existing financial literacy initiative.

What is a HOST?

• The organization/entity that physically places and manages the On-Site Learning Center, On-Line Center, and Resources Guides at their location.

What is the On-Line Learning Center?

• The On-Line Learning Center is an electronic library located on the website of each host/organization.  The On-Line Center has three major functions: 1) provides access to financial curricula and personal finance calculators over the Internet, 2) acts as the central ordering system to replenish, track and manage the circulation of materials for the On-Site Center, and 3) acts as the central management system for locating financial education workshops, seminars, educators and programs.

How does the Resource Guide help me?

• The resource guide contains over 1,000 financial education resources.  This essential guide is for educators, parents, and individuals seeking educational resources for all ages pertaining to personal finance.  This guide includes books, lesson plans, literature, games, toys, software, videos, magazines, newspapers, websites, and more

What is a On-Site Learning Center ?

• A physical library located on the premise of each host/organization that holds the actual literature to be distributed to the community.  There are three versions of the On-Site Center: 1) The Financial Literacy Center for Youth, 2) The Financial Literacy Center for Adults, or 3) Combination of Youth/Adult

How can we use the On-Site Learning Center?