As a land-grant university, NC State’s core mission is to use its research and engagement engine to help drive economic growth in the state. Traditionally, that’s meant giving farmers in the field access to new methods and tools from the university’s agriculture and extension experts.

A new Poole College of Management program is doing the same thing with something less tangible but equally essential: personal financial literacy. The Financial Literacy Initiative is an effort to improve people’s understanding of how money works, from the NC State campus to every corner of the state.

The initiative will combine online and in-person classes for state and local employees, a catalog of virtual courses for the public at large and research on the effectiveness of those approaches on campus and across North Carolina.

“Focusing on financial literacy is a way to impact a lot of people. It is crucial in people’s everyday lives.”

“Focusing on financial literacy is a way to impact a lot of people,” said Srini Krishnamurthy, an associate professor of finance. “It’s crucial in people’s everyday lives.”

It starts with the Financial Literacy Program, cofounded by Krishnamurthy and Poole faculty Umut Dur and Denis Pelletier, which has delivered evidence-based, research-backed program knowledge to more than 250 North Carolinians since launching in June 2025.

There’s no shortage of personal finance advice on the Internet. But much of it, Krishnamurthy said, comes from vendors who are selling a product or service. Guidance from neutral agencies like the Federal Reserve Bank focuses on specific tasks — like how to open a savings account or balance a checkbook — without connecting them to strategies that improve overall financial health. It’s a little like a cookbook that teaches how to measure spices or chop vegetables but doesn’t offer recipes.

“It really doesn’t get to the root cause of the problem, which is that people don’t know how to do finance,” Krishnamurthy said.

The Poole program offers unbiased, research-backed teaching on foundational financial concepts, including the time value of money, inflation and how interest can work for (and against) you.

Students walk away from the course with useful tools, too. Course videos and handouts are always available to them. So are spreadsheets with built-in formulas related to assessing loans, estimating retirement savings needs and comparing investment vehicles. 

The course also integrates insights from current finance research. A module on mutual funds, for example, reflects the emerging consensus that mutual fund performance doesn’t persist over time. Kristhnamurthy’s own research helped develop that idea.

“Knowing the research and bringing it in a way people can use — that’s a real differentiator for us.”

“That has real implications for retirement planning,” Krishnamurthy said. “Knowing the research and bringing it in a way people can use — that’s a real differentiator for us.”

The first cohort of 250 students showed marked improvement in financial knowledge and confidence after taking the course, according to survey data. 75% of students correctly compared returns on different asset classes after the class, up from 45% before it. 

Perhaps more importantly, confidence in financial decisionmaking doubled — 89% of participants said they felt confident handling significant financial decisions after completing the program, up from 44% beforehand.

Scaling Up to Serve

The Financial Literacy Program originally spun out of Provost Warwick Arden’s Strengthening the Impact of Research (STIR) program. As part of STIR, Krishnamurthy developed early versions of the course that he taught at a Wake County high school and in local public libraries.

Further support followed: $10,000 from Wolfpack Women in Philanthropy and a $350,000 grant from the Institute of Consumer Money Management (ICMM), a nonprofit devoted to supporting research that promotes financial security for low- to moderate-income consumers. Those funds have helped Krishnamurthy  Dur, and Pelletier expand the curriculum and tailor it for public employees. As of March, program leaders were in discussions to make the course part of onboarding for NC State faculty and staff. They’re also in talks with the City of Raleigh about offering an in-person version to municipal employees.

Throughout early 2026, Krishnamurthy, Dur and Poole economist Denis Pelletier also taught the course online to anyone interested. That experience points toward the program’s future: a rich collection of online videos on a range of financial topics that North Carolinians can access any time they want, with curation aided by NC State experts and AI tools.

Getting there will require more support, according to Financial Literacy Initiative director Richard Warr: more faculty and students involved in developing the program, more partners to help it grow, more N.C. citizens eager to improve their understanding of how money works.

“We see the opportunity to do something bigger and bolder,” said Warr, who is also associate dean for research. “We want to become the trusted, respected source of financial literacy education in the state.”

“We see the opportunity to do something bigger and bolder. We want to become the trusted, respected source of financial literacy education in the state.”