Merchantry, Kolej Yayasan Saad, Melaka

Summary of Project:

MYMerchantry is a hub to learn about personal finance.

Problem Statement:

Originally wanting to tackle academic learning of finance, we found that the root of the problem lies in the lack of holistic and wholesome education of personal finance. With the effects of the pandemic still lingering, we wish to help those in need learn how to get better. We also provide the ability for people to submit resources that they wish to upload and share.

Participants Demographics:

Participants consisted of male Form 4 students who struggled with managing personal finance and students who struggle with the Form 3 Mathematics topic, Consumer Mathematics. Participant who struggled with consumer mathematics despite being in upper form mentioned that they simply could not find enough resources to gain enough understanding to grasp the basics of the chapter. Thankfully, participants have participated actively in giving feedback regarding the effectiveness of our project. Participants went through the website and managed to gain more understanding for Consumer Mathematics through simple videos and notes. Participants had also mentioned that our project was extremely convenient as it could be accessed through their mobile devices. Most participants preferred to study visually and verbally, which made our project the perfect solution to their problem.

Project Impact & Impact Measurement Method:

We use Khan Academy's grading system and gauge progress based on their performance there. We saw an average ~30% increase in understanding of personal finance along with consumer mathematics at ~23%.

Changes Observed In Participants (Improvements/Progress):

Participants have managed to develop a much clearer understanding on the basics of both Consumer Mathematics and personal finance in general. Participants now have a grasp on the subject and no longer struggle with basic questions regarding Consumer Mathematics. Not to mention, participants have said they are more aware of the consequences of their every action regarding personal finance. However, we believe more work needs to be done for our participants to be able to answer HOTS and advanced questions regarding the chapter.

Challenges/Setbacks Faced:

We faced many difficulties with time management as our schedule was very packed suddenly due to exams and other school events. One of our members also had to withdraw from the competition due to personal issues. All of these issues were very stressful for us.