Bankruptcy

Disney Hops on Financial Literacy Train

By meaghano

Disney has teamed up with T. Rowe Price to create an exhibit that helps kids (ages 8 ? 14) develop basic financial literacy skills ? because we all know how much fun diversifying our portfolios can be.

The exhibit, which is located in Epcot, reportedly allows kids to earn currency for their piggy banks through games. The various ?levels? require players to engage in increasingly sophisticated thinking and decision-making.

The exhibit includes interactive games that are designed to show techniques for:

• Setting financial goals: Players begin by choosing a real-life event they?d like to save their video coins for.
• Saving money: One game lets kids choose between guiding falling coins toward ?savings? or ?spending? buckets.
• Spending wisely: At the game?s end, kids learn that too much spending translates into not meeting their financial goals.
• Diversifying investments: Yes, Disney has tackled this issue, albeit at a kid-friendly level. Players must hide their coins in various locations so the game?s villain (a wolf to the hero?s pig) cannot find them.

Avoiding inflation: To impart this lesson, players must manipulate levers to keep the wolf (presumably appropriately big and bad) from devaluing their saved currency.

Playing Online

Besides the Florida exhibit, Disney has launched the Great Piggy Bank Adventure Game on the Internet for non-travelling families to enjoy.

Can All These Games Really Help?

It?s certainly debatable whether getting really good at a video game about saving money will translate into any real-life financial literacy, Disney?s informational/promotional web site (innoventions.disney.com) points out that the experience might ?inspire families to discuss financial planning? and otherwise launch more broad financial literacy activities.

And it?s never too early to start teaching your kids about how to manage money.

For Older Kids: Good News

Obama signed the Credit Accountability Responsibility and Disclosure Act of 2009 (aka the Credit Cardholders? Bill of Rights) into law May 22nd, and one of its new protections if for young adults (that is, under 21) with credit cards.

Now, in order for your older teens to get a credit card, you have to cosign for them.

Stay tuned to Total Bankruptcy for the latest saving trends.

Source: article

Full post as published by The Bankruptcy Blog on May 27, 2009 (boomark / email).