Sunday, 9 October 2011

Teaching the Essentials of Personal Finance with Online Gaming ...

In recent months I have noticed the addition of many new, no-charge Web sites and online games that are designed to assist individuals in gaining financial literacy. The following are three examples, each for a different age group:

Middle Schoolers- The Quest for Money Online Game: In April 2011 online money management program Mint.com (www.mint.com) introduced the ?Quest for Money Game? located at www.mint.com/education. The amusing characters in the game are based on the characters in the Mint Quest for Credit video located at http://www.mint.com/blog/goals/quest-for-credit-complete-version/. The Quest for Money Game is a fun way for middle-school students to learn about the ramifications of personal finance decision-making. Game players will learn money management strategies, such as earning and saving money, and budgeting to meet specific financial objectives. To move ahead players must correctly answer questions about money, shopping, and saving. Smart choices and correct answers receive rewards. Mint provides teachers with lesson plans and online resources. These classroom materials will be distributed to 30,000 classrooms this year. Mint also includes parents in their financial literacy initiative. Parents can download family worksheets and activities that can be used at home. To download lesson plans and family financial educational materials visit https://www.mint.com/education/resources.

Low-Income Adults- Farm Blitz Online Game: The Rand Financial Literacy Center, a joint venture of Rand, Dartmouth College and the Wharton School, offer a free online financial literacy game for low-income adults titled ?Farm Blitz? located at http://financialentertainment.org/. (Farm Blitz was inspired by the extremely popular online games Farmville and Bejeweled.) Farm Blitz let?s players experience how inferior financial decision-making can quickly result in high debt and make it impossible to save. Farm Blitz focuses on three personal finance lessons. First, the importance of minimizing high- interest, short-term debt. Second, the value of maximizing low-interest, long-term savings. And finally, understanding the importance of compounding interest. To watch a trailer of this no charge, adult financial literacy game visit http://www.youtube.com/watch?v=EBt8YaawQaU.

Children- The For me, for You, for Later: First Steps to Spending, Sharing, and Saving Online Program: The Wall Street Journal on June 20, 2011 had an advertisement for PNC that announced their new, free online financial literacy program for children. PNC and Sesame Street partnered to create the online program titled, ?For Me, for You, for Later: First Steps to Spending, Sharing, and Saving?. The program and resource materials are located at www.pncgrowupgreat.com. The PNC program was developed by the Sesame Workshop, creator of Sesame Street. Children learn the financial basics as Elmo learns how to spend, save and share. The online programs is bilingual, has a parent and caregiver guide, children?s activity book, three jar labels, and a Sesame Street DVD that features Elmo, Cookie Monster and their friends. Educators can download a guide that can assist them in incorporating the program?s activities into their classroom lesson plans.

Kathleen Sindell, Ph.D. is the author of numerous academic, popular, and professional finance articles, Web sites, proposals, and books, including the bestselling reference book, "Investing Online for Dummies, Eds. 1-5" (listed for two consecutive years on the Wall Street Journal's Bestselling Business Book List). Sindell has an in-depth understanding of the financial services industry and holds Series 7, 63 and 65 licenses. Dr. Sindell?s public speaking and writings assist individuals in gaining financial literacy. Sindell tracks a variety of financial sources to identify emerging investor and personal finance trends then creates educational investor and finance presentations or materials for publishers, organizations, trade associations and educational institutions. Dr. Sindell is regularly tapped as a financial expert on ABC World News, CNNfn, The Nightly Business Report, and at popular online and print outlets. Dr. Sindell has over 18 years of experience in designing and developing learning objectives, instructional activities and curriculum using adult learning principles and various media and tools to achieve maximum results in the shortest time. Kathleen Sindell, Ph.D. is certified to teach Business and Industrial Management, Banking and Finance by the California Board of Governors (Certificate #19507). For over four years she managed the Financial Management and Real Estate programs and faculty at the University of Maryland, UMUC Graduate School of Management & Technology. At UMUC Sindell taught 11 graduate financial management courses and four executive financial management courses. For 15 years Sindell has been a practioner faculty member of the Johns Hopkins University, Carey School of Business, where she creates graduate courses and teaches corporate finance, individual investment management and wealth management.

Source: http://kathleensindell.com/blog-writing/teaching-the-essentials-of-personal-finance-with-online-gaming-and-programs

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