Friday, January 15, 2010

The Great Piggy Bank Adventure

Another resource for teaching kids about handling money has come to my attention, and I wanted to pass along the information to you.

Investment firm T. Rowe Price has teamed up with Walt Disney Imagineering and Walt Disney Parks and Resorts Online to create two interactive financial education and entertainment experiences that offer lessons on setting goals, the importance of savings, spending smartly, inflation, and diversification.

Kids can play a virtual board game called The Great Piggy Bank Adventure online.  Families lucky enough to be visiting Walt Disney World can try a hands-on, interactive experience at INNOVENTIONS at Epcot.  Both can spark conversations about financial matters between kids and their parents.

I've also received these statistics and tips to share with you:

According to the Parents, Kids & Money Survey, a recent study conducted by T. Rowe Price, nearly half of parents neglect to utilize receiving money as a gift as a teachable moment. A few other statistics from the survey include:
  • 60% of parents feel that financial discussions do not happen nearly enough
  • 57% are worried they could be doing more to prepare their children to be financially competent by the time they are 18
  • 23% of parents said they strongly agree that they have a solid understanding on how to set goals for their financial future, while only 9% of kids (age 8-14) said the same
Easy exercises you can share with your child:
  • On your next trip to the grocery store, ask your kids help you gather items that are just on the list (goal) you have created
  • Encourage your child to help you find a gift for a family member in a specific price range
  • After playing The Great Piggy Bank Adventure online, have your child set a goal from monetary gifts or allowances they received during the holidays
Have fun!

Disclosure: I have received no compensation in any form for sharing this information with you.


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