new icn messageflickr-free-ic3d pan white
Bridge the Youth Financial Gap with FamZoo | by FamZoo
Back to photostream

Bridge the Youth Financial Gap with FamZoo

There’s a huge educational gap between the piggy bank and the commercial checking account. As with any significant skill, mastering personal finance requires instruction and practice — lots of practice.

 

The piggy bank is a good first start for the very young, but it quickly runs out of steam as an educational tool. On the opposite end of the spectrum, the traditional checking account is designed for adults and presumes considerable amounts of knowledge and maturity. Mistakes can be costly and carry lasting implications.

 

To learn the financial ropes, kids need something in between: a solution that teaches progressively more sophisticated personal finance skills through real experiences without onerous punishment for the inevitable failures. Mistakes must be considered an opportunity for learning, not profit. Also, since money and values are so deeply intertwined, kids need to work closely with their parents. But parents are insanely busy, so the solution must be quick to set up and painless to maintain.

205 views
0 faves
0 comments
Uploaded on December 27, 2011