Financial literacy apps that students love
Students need financial literacy skills now more than ever.
American consumers are drowning in credit card debt. On average, US households carry 39% of their debt from month to month. To compound matters, student loan repayments take a chunk out of monthly expenses, leaving less for daily living expenses and fewer resources for savings and retirement.
Although consumers have been spending less, they are paying more for borrowed money.
Most people don’t take the cost of debt into consideration when signing up for credit cards and agreeing to delayed payments. Students don’t always understand the consequences of debt unless they’ve learned the financial literacy skills that will keep them buoyed.
Some students may find financial literacy a little dry. Games, however, can be an engaging way to interest your students in a powerful concept. If you’re looking for innovative ways to teach financial literacy, these financial literacy apps are what you need.
Getting out of financial trouble is a lot harder than getting into it. Gen I Revolution teaches secondary level students personal financial literacy skills as they rescue people who find themselves in financial hot water.
Each of the sixteen missions takes approximately 30 minutes to complete. The missions can be used independently or as part of a comprehensive unit.
It’s all about the dress
When it really is all about the dress, students have to budget their expenses carefully. Prom expenses can get out of hand quickly: shoes, hair, make-up, accessories, transportation, flowers, tickets – they all add up.
And there’s the dress. Plan’it Prom, helps students plan for prom.
Immortality has benefits
Living forever might not be such a bad thing if you can reduce debt and maximize your return on investments over time. Most people have a lot less time to get their finances in order, so Bite Club teaches students how choice can alter the future.
Students play fifteen rounds (the equivalent of 45 years), during which they learn to plan for retirement while paying down debt and living within their means.
Teaming up with sports action
Students who enjoy sports might find themselves immersed in playing football or soccer, especially when combined with financial literacy skills. VISA-sponsored online games like Financial Football and Financial Soccer teach students how to manage debt and curtail spending while scoring on the field.
Investing in financial literacy
Older students may be ready to apply what they’ve learned in The Stock Market Game. Students interact with a simulated global market to learn about the personal finance and investment strategies in an economic setting.
Gamification in the classroom engages students at higher levels than traditional paper and pen tasks. The interactive nature of the game makes learning fun, and students improve their understanding of personal finance.
Accruing massive amounts of debt isn’t a requirement for being an adult. Students who develop smart money habits are more likely to retain those habits as adults.
By helping your students improve their financial literacy skills, you’re giving them the tools they need to start and stay on the path to financial freedom.