Tools of the Trade: Educational Tools for Teen Consumers

NCPW

By Christopher Pugh, Fall 2014 Student Intern

carFor National Consumer Protection Week, we have brought you several tools to protect consumers against scams and bad decisions, but many consumers have school-aged teenagers who also need education in the area of financial health. After all, teens are big consumers in our economy and often carry their parent’s credit and debit cards, so educating young people on how to protect against financial loss is just as important as educating adults.  Fortunately, our friends at FINRA have compiled a great resource for educational tools to prepare teens to face their financial futures.

The FINRA website features several online interactive games to keep teens engaged in learning about their finances. One popular online game is Moneytopia.  The player’s goal is to successfully manage their money throughout life, until you achieve your “big dream.” To win, keep careful track of your finances, pay your bills on time, and take care of all the little day-to-day things that can impact your finances.  This type of tool can engage teens in a way that just classroom instruction cannot.

Additionally, the website has a great stock of videos, lesson plans and quizzes that teachers can use in class to help educate young consumers to be more moneywise. Starting to teach consumer skills at a young age can build long-lasting habits that can pay dividends in adulthood.

Check out this video link for an example of how these tools can help teens navigate the financial world they live in.