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Financial Literacy Links (July 19, 2010)
- From the fredericksburg.com site, if you live near Richmond, Virginia, you should check out The Fed Experience, a free exhibit that replaces the Fed’s Money Museum. Designed to appeal to all ages, the exhibit aims to make learning about personal finance more fun through interactive demonstrations and activities such as the Price Stability Challenge where players standing around a pool-table-size touch screen make purchases, deposit savings and adjust their life/work/education balance in a fast-paced three-minute game.
- The site Poverty in America, highlights 3 programs that teach kids how to manage their own money and learn about saving and budgeting.
- FamZoo which lets kids manage their own virtual bank.
- ThreeJars.com which emphasizes savings has a feature that lets kids propose chores they can do around the house to make more money.
- Zefty.com an allowance manager that will estimate how much a child should be getting based on different factors.
- Finally, there was a new study released as a dissertation that looked at whether or not financial literacy courses made an impact on student behavior. This study looked at graduate students in health-profession programs. The results were mixed. It found that students who had some financial literacy training made better decisions overall when it came to reviewing credit reports and scores. They also made better “lifestyle” decisions such as whether or not to cook at home or go out to eat. However, the study did not find a significant impact on the student’s decisions when it came to credit carts, taking out loans, or budgeting and spending.
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