Financial Institutions Can Help Students Become Money Wise
Banks and other financial institutions have an opportunity to provide much more than a good interest rate by sponsoring financial education in local schools.
They can help students become “money wise” by playing Wi$eMoney®, a fun game that teaches about banking, budgeting, credit, planning, and identity theft, at schools in their communities and in their homes.
Financial literacy remains a critical need. According to a Wi$eMoney® survey of 600 educators nationwide, 51% of teachers said that high school students are financially illiterate at the time of graduation.
Managing a budget is the subject in which teachers feel students most need education, as well as about credit cards, paying bills, interest rates, and distinguishing between wants and needs, according to the survey.
A basic sponsor package includes 10 Wi$eMoney® Teacher’s Editions for use in the classroom and 20 family board games that students can play in small groups or take home to play with their parents.
Wi$eMoney® sponsoring institutions can provide a letter of encouragement that will be printed on the family board game box in support of financial literacy.
“Financial institutions can prepare students in their communities for the real world in financial matters by helping them play Wi$eMoney® in school and at home. They can support students at schools they sponsor build their knowledge of financial subjects and to become ’money wise,’” said Elizabeth Treher, Ph.D., founder, President, and CEO of The Learning Key, creators of Wi$eMoney®.
“It’s a great way to start the conversation about good money management with young people. Interactive games are one of the most effective ways of learning and retaining information, as well as being a fun way to learn" said Treher.
Other surveys have emphasized the need for young adults to learn more about financial matters:
• 61% of female high school seniors and 45% of male high school seniors reported never having taken a personal finance class, according to a 2009 survey by Capital One Financial Corporation.
• Although 64% of college students have at least one credit card, 44% of them do not know the annual percentage rate (APR) of the credit card they use most, according to a 2009 survey by the Center for Economic and Entrepreneurial Literacy.
To sponsor schools in their areas, financial institutions can visit www.destinagames.com or call (800) 465-7005.
About The Learning Key Inc.
The Learning Key Inc. has been transforming learning into action through team-based games and simulations for more than 20 years. The company designs custom board games and simulations, training, and instructional design for organizations in educational, banking, information services, pharmaceutical, biotech, chemical, and other industries. For more information, visit www.thelearningkey.com or call (800) 465-7005.
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