Empowering community financial literacy through service learning: A case study of the SULAM "No Money, No Talk" initiative in higher education

Abstract

The integration of Service Learning Malaysia-University for Society (SULAM) into the academic curriculum represents a paradigm shift in higher education pedagogy. This paper investigates the efficacy of deploying a SULAM framework within the Personal Financial Planning (FIN533) course to enhance both student learning outcomes and community financial literacy. A targeted experiential learning program titled "No Money, No Talk" was executed by Universiti Teknologi MARA (UiTM) undergraduate students for the community at Institut Latihan Perindustrian Kota Bharu (ILPKB). The initiative utilized gamified pedagogical tools specifically 'The Hangman', 'The Allowance Game', and a 'Saving Board Game' to demystify complex financial concepts for vocational students. Employing a mixed-methods action research design, the study evaluated the dual impact of the program: the enhancement of financial literacy among ILPKB participants and the development of core soft skills among UiTM facilitators. Quantitative analysis revealed a 50% average increase in financial knowledge scores among ILPKB students post-intervention. Concurrently, UiTM facilitators reported significant improvements in leadership, communication, and empathy. This paper provides empirical validation for the SULAM methodology as a potent pedagogical strategy that bridges theoretical financial education with impactful community engagement, fostering holistic graduate development.