15 Websites to Teach Financial Literacy
When kids read that America’s $23
trillion+ debt is accepted by many experts as ‘business as usual’, I wonder how
that news will affect their future personal finance decisions. Do they
understand the consequences of unbalanced budgets? The quandary of infinite
wants vs. finite dollars? Or do they think money grows on some fiscal tree that
always blooms? The good news is: Half of the nation’s schools require a
financial literacy course. The bad new is: Only half require a financial
literacy course.
If your school doesn’t teach a course
about personal economics, there are many online sites that address the topic as
mini-lessons. Some are narrative; others games. Here are fifteen I like. See if
one suits you:
Banzai is
a personal finance curriculum that teaches high school and middle school
students how to prioritize spending decisions through real-life scenarios
and choose-your-own adventure (kind of) role
playing.
Age group: Upper elementary
This game-based website covers budgeting,
needs vs. wants, savings vs. checking, credit, banks, and where money comes
from.
Age group: Upper elementary, middle and high
school
Put out by MIT, Living Wage
Calculator estimates the cost of living in your community or region. The
calculator lists typical expenses, cost of living, and typical wages.
iOS Apps
Because more often than not, 18-24 year
olds are on a mobile device rather than a computer, here are six apps that can
be played from anywhere:
Bankaroo –
Using this free virtual bank for kids, students learn to manage their allowance
while saving for goals. To track learning, they earn badges for their
accomplishments. This app works on desktops as well as mobile devices.
Motion Math – As
students struggle to run their own pizzeria, they must balance budgets, think proportionally,
buy ingredients, design the pizzas, and sell to customers. The app also
includes which Common Core Math Standards are addressed by the gameplay.
Savings Spree —
Students learn how the choices they make each day can add up to big savings or
expenses depending on their spending decisions. Kids see how they can save
for short-term goals while investing for future needs.
