From saving to budgeting: unpacking the impact of a culturally relevant financial literacy summer program- $mart money

Culturally Relevant Pedagogy (CRP) is an educational framework that illustrates how to foster educational excellence through a focus on cultural competence, critical consciousness, and academic success, which aims to empower students by making education more applicable and responsive to their lived experiences (Ladson-Billings, 1995). This study elucidates the efficacy of CRP within financial literacy education, as implemented in a STEAM (Science, Technology, Engineering, Arts, and Mathematics) summer enrichment program. Our objective is to explore the extent to which CRP influences student perceptions of their personal finances through an understanding of financial literacy. Employing a qualitative methods approach, we reviewed transcripts, surveys, and student work from program participants, distilling salient themes that underscore the impact of CRP on financial literacy comprehension. Our findings reveal the critical role of CRP methodologies, particularly in tailoring content to resonate with student experiences and recognizing the cultural influences on financial behaviors. Additionally, we examine the challenges and opportunities encountered within a virtual paradigm, a shift necessitated by the exigencies of the pandemic. Despite the limited empirical studies on the nexus between CRP and financial literacy within educational frameworks, this article seeks to bridge this gap. We analyze the perspectives of students participating in the STEAM enrichment program to explore the impact of Culturally Relevant Pedagogy (CRP) in a summer financial literacy program. This study takes place within the framework of '$mart Money’, a four-session summer program. The focus is to determine whether there is a discernible change in student perceptions about money.