An evaluation of informal education in improving students’ understanding of financial planning in Billiri Local Government Area, Gombe State.
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
The evolving educational landscape necessitates innovative approaches that extend beyond formal classroom settings, and informal education has emerged as a viable alternative to traditional pedagogy. In Billiri Local Government Area, Gombe State, informal education is increasingly recognized as a strategy to address practical skill deficits—especially in financial planning. With global economic uncertainties and fluctuating markets, financial literacy is critical for empowering young people to make sound economic decisions. Informal educational practices—such as community workshops, peer mentoring, simulation exercises, and real-life case studies—offer students a hands-on approach to budgeting, saving, and investment planning (Adeyemi, 2023; Ibrahim, 2025). These approaches not only make abstract financial concepts tangible but also promote active engagement by linking learning to everyday experiences. Local cultural contexts further enhance these initiatives, as community members often share indigenous financial practices and locally adapted strategies that resonate with students’ experiences (Okoro, 2024). In addition, informal education fosters critical thinking and problem-solving by challenging learners to apply theoretical knowledge in practical scenarios. This method encourages active participation, where discussions and collaborative projects lead to a deeper comprehension of financial principles. Despite the recognized potential of informal educational initiatives, several challenges exist. The absence of standardized curricula and evaluation frameworks often results in varied outcomes across different settings. Moreover, educators sometimes lack the specialized training needed to facilitate effective informal learning sessions. Nonetheless, community-based approaches that integrate local experiences with global financial practices have shown promise in bridging these gaps. This study aims to explore the extent to which such informal educational practices improve students’ understanding of financial planning. By synthesizing both qualitative narratives and quantitative data, the research will identify best practices and underlying factors that influence the efficacy of these programs. Ultimately, the study will contribute to the ongoing dialogue on educational reform by demonstrating how localized, non-formal interventions can complement formal education, thereby equipping students with essential life skills (James, 2025). In sum, integrating informal education in financial literacy holds the promise of fostering economic resilience and empowering communities through improved decision-making and resource management.
Statement of the Problem
Despite the growing emphasis on informal educational practices in Billiri, challenges persist in effectively enhancing students’ understanding of financial planning. A primary issue is the lack of a standardized framework to guide and evaluate these informal initiatives. In many instances, programs are ad hoc and vary widely in content and delivery, making it difficult to measure their overall impact. This inconsistency has led to discrepancies in student outcomes and limited evidence of long-term behavioral change. Furthermore, many educators are not adequately trained to employ informal methods effectively, resulting in underutilization of community resources and missed opportunities for experiential learning. The socio-economic diversity in Billiri further complicates the situation; students from low-resource backgrounds may not have the same access to quality informal education as their peers (Eze, 2023). Additionally, while community involvement is high, the absence of formal support systems and governmental policies hampers program sustainability. Such challenges create a significant gap between the potential benefits of informal education and the realities of its implementation. This study seeks to address these issues by evaluating the current state of informal education in financial planning, identifying the obstacles that hinder its success, and proposing actionable strategies to enhance its effectiveness. Through a careful analysis of both qualitative experiences and quantitative measures, the research intends to provide clarity on how informal education can be harnessed to improve financial literacy. The ultimate aim is to develop a replicable model that can inform policy and practice, ensuring that all students, irrespective of background, benefit from robust financial education initiatives (Nwankwo, 2024). The study, therefore, targets the root causes of implementation challenges and strives to propose solutions that align with local socio-economic realities.
Objectives of the Study
- To evaluate the effectiveness of informal education in enhancing financial planning knowledge among students.
- To identify the critical factors that contribute to the success of informal financial literacy programs.
- To propose a model for optimizing informal education strategies within the local context.
Research Questions
- How does informal education influence students’ understanding of financial planning in Billiri?
- What are the key factors that determine the effectiveness of informal financial literacy programs?
- In what ways can informal education practices be optimized to enhance financial decision-making skills?
Research Hypotheses
- H₀: Informal education has no significant effect on students’ understanding of financial planning.
- H₁: Informal education significantly improves students’ understanding of financial planning.
- H₂: Community involvement moderates the relationship between informal education and financial literacy outcomes.
Significance of the Study
This study is significant as it offers a critical evaluation of informal educational practices and their role in enhancing financial literacy among students in Billiri. Its findings are expected to inform educators and policymakers on the benefits and limitations of non-formal learning approaches. By identifying effective strategies and addressing current gaps, the research aims to support the development of more structured and replicable financial education programs. Ultimately, the study contributes to building a financially empowered community, with potential applications in similar socio-economic contexts (Adeyemi, 2023).
Scope and Limitations of the Study
Limited to the topic only.
Definitions of Terms
- Informal Education: Learning activities conducted outside formal school settings.
- Financial Planning: The process of managing personal finances including budgeting, saving, and investing.
- Students: Individuals enrolled in secondary educational institutions.
Related Project Materials
THE IMPACT OF EARLY CHILDHOOD EDUCATION ON UNDERSTANDING HUMAN RIGHTS
ABSTRACT: This study examines the impact of early childhood education on understanding human rights among young children. Objectives include e...
INFLUENCE OF EARLY CHILDHOOD EDUCATION ON GRATITUDE DEVELOPMENT IN CHILDREN
ABSTRACT: This research focused on the influence of early childhood educat...
The Effect of Intensive Nursing Care on Stroke Patients’ Recovery in Taraba State
Background of the Study
Stroke is a leading cause of disability and mortality worldwide, requiring prompt and intensive medical care for...
An appraisal of semantic markers in Efik oral narratives in Calabar
Background of the study
Efik oral narratives in Calabar are rich in semantic markers—linguistic cues that indicate me...
PROBLEMS AND PROSPECT OF HEALTH SERVICE DELIVERY AT GRASSROOT LEVEL
Abstract
This study seeks to highlight the recent activities of local government in health care delivery. Health care i...
An Appraisal of the Impact of Bilateral Trade Agreements on Nigeria’s Agricultural Exports
Background of the Study :
Bilateral trade agreements have become vital instruments in expanding market access and stimulati...
Exploring the Impact of Innovation Ecosystems on Regional Economic Growth in Nigeria
Background of the Study
Innovation ecosystems, characterized by the dynamic interplay among academia, industry, government...
THE BENEFITS OF OUTDOOR EDUCATION IN EARLY CHILDHOOD DEVELOPMENT
Abstract: This study investigates the benefits of outdoor education in promoting holistic development and le...
The Effect of Benchmarking on Operational Efficiency in Nigerian Banks: A Case Study of GTBank
Background of the Study
Benchmarking is a strategic management tool that enables organizations to evalu...
The effect of POS terminal upgrades on customer transaction speed in banking: a case study of Wema Bank
Background of the Study
Point-of-Sale (POS) terminals are essential for efficient transaction processing in retail banking. Wema Bank has...
