Money Talks
The Money Talks Web site was redesigned in 2009 because of continuing concern about the financial literacy of American teens. On a 2008 national money management exam, high school seniors averaged a score of 48.3 percent, a failing grade. These seniors were graduating from high school with little knowledge of money management, savings, investments, income and spending.
Money Talks features a lively, colorful and youthful design along with the videos and games teenagers have come to expect from online resources. By going through the Web site, the students learn about their own “money personality,” how to save and spend money wisely, invest, use credit cards and look for jobs.
When taking Money Talk’s “The Food Cost Quiz,” for example, players pick an answer and hear a loud buzz if they picked wrong. Right away, they can try again till they select the correct answer. The program doesn’t take itself too seriously - offering fun, sometimes irreverent answers in the multiple choice - but conveys important points, such as advising not to go grocery shopping when hungry and that foods placed at the ends of the aisles are there to tempt you.
Another game, “Bricks & Bucks Banking,” presents answers Jeopardy!-style and allows users to pick from three possible questions. One player can try to beat the clock, or two players can compete with each other for the best outcome.
UC researchers evaluated the effectiveness of the Money Talks curriculum. They found that teenagers who completed Money Talks showed a statistically significant knowledge gain and a positive change in money management behavior. They were more likely to have identified their values related to money, spent their money based on their values and identified easy ways to save money.
