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If you were 400 years ago and you went to Western Europe, most people at that time thought that most people couldn’t read, that they were just not capable of it. Now we make those same assumptions about everything else, and at the Khan Academy and BetterMoneyHabits.com together is saying, ‘No. We actually think that everyone can learn this. Most people who are familiar with us associate us with this library of videos that I first started making for my cousins and then they kind of got popular.
We’re much more than just the videos. We’re really trying to think about how do we use technology at our disposal to allow people to learn faster. How do we make interactive widgets to understand where their gaps are in their knowledge?
When bank of America first approached us, you know, there was a healthy sense of skepticism. They want to work around financial education, we wanted to do financial education but we said, ‘look. We don’t want to commercialize this.’ And they said, ‘no this is exactly why came to Khan Academy, and we’re genuine about our desire to educate folks.’
BetterMoneyHabits.com, it’s allowed us to do at Khan Academy is really focus on this really important area that one, just in life you should know about a mortgage or a credit score or whether you should rent or buy. I think if folks tried it out they will see that, ‘wow I’m learning things that I never knew before. That this is directly applicable to my life, to my job, to the lives of my customers.’ And a big part of what we’re trying to do, and hopefully are doing, is making learning fun and engaging and for lack of a better word, addictive.
My hopes for this relationship is that there’s no better resource than either BetterMoneyHabits.com or Khan Academy, but then we grow beyond videos, so already Khan Academy on it’s platform, especially in math, we have quizzes, we have articles, we have a community. I hope we can bring more of that into personal finance, and then we can better ourselves. We can learn things ourselves, teach things to each other and also be kind of part of a shared group to educate the world.
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" The positive role we play in society is something we have demonstrated every day. Our purpose is to make financial lives better - the beauty of this partnership for us is that it brings that purpose to life by empowering consumers to take small steps that can make a big difference."
- Andrew Plepler
Corporate Social Responsibility Leader. Bank of America