Resource of the Week – Money Games for Kids

With summer vacation starting for many kids, now is a good time to use some of their free time to teach them about money.

There are many free games online that can help you teach kids the basics of personal finance. Below are a few designed for kids 5-12.

Dollar a Glass Lemonade Stand
Run a lemonade stand while learning about supply, demand, profit, costs, and more.
http://bizkids.com/games/dollar-a-glass

Peter’s Pig Money Calculators
Different challenges to help kids recognize coin currency. Sort coins into the correct jars, count coins, and more.
http://www.practicalmoneyskills.com/games/peterpigs

Financial Football
Test your financial knowledge on the gridiron. Play against the computer or against your friends. Go Hawks!
http://www.watreasurer.financialfootball.com

Farm Blitz
Build a farm and watch your crops grow. Be careful not to get yourself into too much debt though.
http://financialentertainment.org/play/farmblitz.html

Dollar Dive
Fun game from the US Mint that helps kids recognize currency and values.  Catch coins underwater so you can buy sails for your boat and escape the sea monster.
http://www.usmint.gov/kids/games/dollarDive/

Money Smart Week April 18-25, 2015

Money Smart Week is here and underway! Money Smart Week was created in 2002 by the Federal Reserve Bank of Chicago. It is a public awareness campaign full of events that teach people how to handle their personal finances in a way that benefits them most. There are Money Smart Week events happening in counties all over Washington State. Here are just a few of the educational events that will be put on during the rest of the week:

• April 21st:
• "Kids & Cash" is a program that gives tips and advice to parents on how to talk to their kids about money and forming responsible money habits
• April 22nd:
• "Navigating Your Credit World" will teach you how to build, repair, and access your credit score                                                                                                     
• "We’re Talking Money!" is an opportunity to get one-on-one assistance with your librarian and explore all the financial resources your library has to offer 
• April 23rd:
• The "Online Banking" class will teach people how to safely and securely pay their bills online 
• "Establishing, Improving and Maintaining Credit" shows people how credit companies calculate credit scores and how consumers can use this knowledge to improve their credit score
• April 24th:
• "Be Money Smart!" is happening in libraries all over the state. This is a display with take-home financial information for consumers, small business owners, and entrepreneurs with information on loans, financial management, investing and job training
• April 25th: 
• "Cyber Theft-How to Protect Yourself" will be giving tips on how to keep yourself safe from identity theft and internet scams
• "Shred Day" is a great opportunity to get all your personal and financial documents shredded on the spot and keep yourself safe from identity theft
• "The Financial Family Fun Fest" is an event for the whole family with crafts for kids and free financial one-on-one signups for the adults.

These are only a few of the great events offered during the rest of Money Smart Week. To see the entire list of events, visit https://chicagofed.org/applications/msw_calendar/public.htm?campaign=14.

Money Smart Week Reading Days

As part of Financial Capability Month and Money Smart Week®, the Jump$tart Washington Coalition brings you Reading Days! Reading Days are a great opportunity for our community leaders to go and bring about change in their communities. We ask our school board members and city council members, as well as other city officials, from around the state to make a one-hour commitment and go to a local elementary school where they will read a story to the children about using money wisely and teaching the benefits of saving versus spending. This year’s book is The Berenstain Bears’ “Dollars and Sense,” by Jan and Stan Berenstain. When Brother and Sister Cub start to earn an allowance, they learn that spending it all at once isn’t the best option. The book teaches kids about putting money into an account and saving it for later as well as basic budgeting. The book also comes with sample tear-out checks so you can set up your own savings account with your little ones at home!

This year’s Reading Day participation has been incredible. We have had community leaders from all over the state volunteer to read at their local elementary schools. We greatly appreciate all of our volunteers and their commitment to help the youth. For any extra information on the Reading Day events, please contact Katrina Roy at (360) 902-8761 or Katrina.roy@dfi.wa.gov .

Here are our scheduled volunteers: 

• Vancouver-April 3rd at Minnehaha Elementary School
  Reader: City Council Member Bill Turlay 
• Auburn- April 13th at Pioneer Elementary School
  Reader: City Council Member Yolanda Trout
• Clarkston- April 13th at Grantham Elementary School
  Reader: School Board Member Meghan Pierce
• Centralia- April 17th at Edison Elementary School
  Reader: City Council Member Gabe Anzelini
• Vancouver- April 17th at Walnut Grove Elementary School
  Reader: City Council Member Larry Smith
• Ellensburg- April 20th at Mt. Stuart Elementary School
  Reader: School Board Member Meg Ludlum
• Vancouver- April 20th at Anderson Elementary School
  Reader: City Council Member Alishia Topper
• Vancouver- April 20th at Walnut Grove Elementary School
  Reader: City Council Member Anne McEnerny-Ogle
• Longview- April 22nd at Northlake Elementary School
  Reader: City Council Member Mike Wallin
• Olympia- April 22nd at Lincoln Elementary School
  Reader: School Board VP Allen Miller
• Spokane- April 22nd at  Roosevelt Elementary School
  Reader: City Council President Ben Stuckart
• Vancouver- April 22nd at Franklin Elementary School
  Reader: School Board Member Nada Wheelock
• Spokane- April 23rd at Holmes Elementary
  Reader: City Council Member Candace Mumm
• Centralia- April 24th at Edison Elementary
  Reader: City Council Member Patrick Gallagher
• Kennewick- April 28th at Westgate Elementary School
  Reader: City Council Member Bob Olson
• Enumclaw- April 28th at Sunrise Elementary School
  Reader: Enumclaw Mayor Liz Reynolds
• Wenatchee- April 29th at Columbia Elementary School
  Reader: City Council Member Bryan Campbell
• Auburn- April 30th at Terminal Park Elementary School
  Reader: City Council Member John Holman

*NOTE: Members of the media, please contact Katrina Roy at 360-902-8761 for information on how to contact a school in your area regarding sending reporters/photographers/camera staff on campus grounds and photo permissions PRIOR to the days’ event(s)

 

Financial Football Tests Your Financial Knowledge

You may be able to manage an impressive fantasy football team, but can you dominate in the world of financial football?

Find out by playing Visa’s free financial football game. The game tests both your money know-how and football strategies in a fun, educational way.

Game Play
After the coin toss and kickoff, players compete by answering financial questions to earn yardage and reach for the end zone. Play as a single player, or go head to head against others to test your financial skills.

For example, during my single player game of the Seahawks vs Raiders, my correct answer to a question about net worth yielded an 8 yard loss for the Raiders. The Seahawks defense is just as good in financial football as it is on the real gridiron.

Play Financial Football

Financial Football in the Classroom
The game is also being played across Washington middle and high school classrooms. In a popular group activity, teams are formed and students answer financial questions to try and best their opponents.

Visa offers activities and lessons for teachers who are interested in brining financial football into the classroom.

Financial Football Resources for Educators

Play Financial Football

New Avengers Comic Book Teaches Budgeting

Just in time for tomorrow’s release of the new Avengers movie, Visa and Marvel have teamed up to offer a new financial education comic book called the “Avengers: Saving the Day.”

In the comic, Iron Man, Spider-Man, Hulk, and the rest of the supporting cast battle their enemies but also learn about personal finance and money skills.

“This may surprise you,” Iron man says to his fellow superheroes while dispatching evil, “but everyone – even the wealthy and big companies – need to create and follow budgets. Otherwise, they can get into financial trouble.”

Order Your Free Comic

The free comic can be ordered online at www.practicalmoneyskills.com/avengers.

There’s also a teacher’s guide, and the comic is available in eight languages, including Spanish and Chinese.

Cookies Are a Want Not a Need Cookie Monster – Sesame Street Teaching Smart Money Habits

PNC Financial Services Group and Sesame Street have teamed up to teach children ages 3 to 5 smart money habits.

The educational campaign includes videos, an interactive website, outreach materials, and information for parents and caregivers on how to talk to children about money.

The website www.sesamestreet.org/save includes:

• Videos
• Printable activities for preschoolers
• Resources and information for parents, caregivers, and educators 

What Parents Should Know about Their Child’s Investment Income

New tax tips from the IRS.

Parents need to be aware of the tax rules that affect their children’s investment income. Here are four facts from the IRS that will help parents determine whether their child’s investment income will be taxed at the parents’ rate or the child’s rate:

1) Investment Income Children with investment income may have part or all of this income taxed at their parents’ tax rate rather than at the child’s rate. Investment income includes interest, dividends, capital gains and other unearned income.

2) Age Requirement The child’s tax must be figured using the parents’ rates if the child has investment income of more than $1,900 and meets one of three age requirements for 2010:

• Was under age 18 at the end of the year,
• Was age 18 at the end of the year and did not have earned income that was more than half of his or her support, or
• Was a full-time student over age 18 and under age 24 at the end of the year and did not have earned income that was more than half of his or her support.

New DVD Helps College Students Make Wise Money Choices And Understand Debt

There’s no escaping the fact that the cost of getting a good college education is on the rise. Because of this, today’s students have to take on more debt than any prior generation to get a college degree.

New graduates are also finding it harder to enter the work force due to stiff competition due to the economic downturn. College graduates are now competing against other job seekers who have many years of experience under the belt.

In addition, the cost of basic expenses such as housing, health care, energy, and transportation are on the rise. Post graduation salaries are not keeping pace.

It's expensive to be a student these days.

The Washington State Department of Financial Institutions (DFI) believes it’s vital for student make wise decisions about the amount of debt they take on.

To shine light on the student debt explosion debt explosion and to empower students to make wise money decisions, DFI has partnered with Consumer Education and Training Services (“CENTS”) to produce Debt Slapped, a DVD and Web site guide to managing student loans and debt.