Financial Literacy Game Online – Great Piggy Bank Adventure

T. Rowe Price and Disney created a totally fun (and free) online game called The Great Piggy Bank Adventure® that teaches kids financial literacy to kids.

Through the online game and interactive experience at INNOVENTIONS at Epcot® at the Walt Disney World®, T.Rowe Price and Disney want to help parents talk with their kids about money and good financial habits.

Believe it or not, the Great Piggy Bank Adventure® teaches:

setting financial goals

saving

spending wisely

inflation

investing

asset allocation

diversification

Begin the game by setting a financial goal. (shown below)
You will also start the game with gold coin Truffles.

Roll the dice on the screen. Your character will hop the spaces you rolled. You might get a card like this one:

Or this:

If you make good decisions, you’ll be rewarded with truffles and get a choice to put your truffles in:

Yellow Bank - very safe, never loses money

Blue Bank (on level 2 and 3) – makes more money but may lose money

Red Bank (on level 3) – might make a lot of money but might lose money, too

Throughout the game, the store shows up. Will you buy or save? (Isn’t this guy evil looking!?)

Every move, you get an updated newspaper with your interest earned or lost.

In addition to this game board, there are three more games, mazes, and adventures to play during your online Piggy Bank Adventure which continue the learning about money.

Observations

AJ spent the first two games not meeting her goal and only investing in the yellow bank. I encouraged her to try the blue or red but it took her awhile to get up the courage. (“It says you can lose money, mom!”)

Once she invested in the red bank, she made enough in interest to achieve her financial goal.

Interesting, isn’t it? She learned what the game wanted her to learn.

She also said, “It is really fun!” and played it three times in a row. A ringing endorsement if I ever heard one. I played, too, so I could take screen shots and thought it was great.

Now when we’ll be able to have more meaningful conversations about  money and in particular, banking. We already talk about spend, save, give and do it weekly but investments adds in another dimension. This is exciting stuff!

What about you — where do you find your teachable moments?

Questions

1. When do you talk to your kids about money?

2. Do you talk to your kids about money at the ATM or the grocery store?

3. How do you teach your kids about financial concepts in the news today such as inflation and setting financial goals like saving for college?

4. When you give your kids an allowance, do you ask them to set a goal for their spending and/or talk about ways to spend wisely?

5. Do you ever use items in the news, such as inflation, as a chance to teach your kids about the concept? If so, what have you found works well to help them understand inflation or other financial concepts?

The Big Flip Giveaway!!!

Post a comment answering one of the above 1 – 5 questions (include the question number) and you will be entered in a giveaway for a Flip cam! Winner will be selected with a random drawing. (Imagination Soup’s official giveaway rules.) U.S. and Canada only please. Deadline for entering is July 24, 2011.

P.S. If you’re a fan of Imagination Soup, would you show your support for me on Babble and vote for I.S. to be one of the top 50 blogs, please?

(Did you say yes I hope?)

Go here on Babble, find Imagination Soup (currently on pg. 2) and click “I like this blogger.”

Thank you so much!Because if you vote, I’d get exposure, become a famous blogger, get a book deal, turn it into a movie, . . . or . . . I could just get more exposure and see where it goes. THANKS!

P.P.S.*I was sent a gift card to compensate me for my time writing this post. The Great Piggy Bank Adventure-branded Flip camera will be provided courtesy of T. Rowe Price. T. Rowe Price is not involved in or responsible for the outcome of this giveaway. T. Rowe Price and Disney Enterprises, Inc., are not affiliated companies.

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  • http://www.specialhappens.com Gina @ Special Happens

    Question 1) I talk to my kids (mostly my daughter) about money whenever I can…whenever it arises. When we’re at the store. When she wants to be the one to run the “card” through the scanner. When she asks for something…any time. We’re of the feeling that every time and any time that lands in our laps is a teaching moment about something. She currently has more money in her wallet than I do. The next step, is talking about saving, giving and spending and having her follow through with it.

    (PS, already voted for you! :-)

  • http://ptapeeplouisvilleky.blogspot.com/ Myrdin

    We played this game SEVERAL times while at Disney, my sons got the bigger concepts about saving (that some savings have better returns etc) while Finn just liked the game aspect and that the reward was a new bedroom. My answer to 1. is that we talk about finances honestly in our family. When at the grocery store, we talk about wants vs needs. We may want donuts, but we need a loaf of bread. If the budget permits an extra treat, like donuts, is that the treat they really want? or would they rather not buy donuts and maybe get to go to the water park, by not buying the donuts we can save for something else. My older sons understand that the summer family vacation to Disney means no summer camp, but my daughter (who is five) hasn’t quite gotten that concept yet. This is really a fun game! THe other question, 4. about allowance- we don’t give an allowance in our family. Cleaning, etc are part of respecting our shared home. THe kids usually get $ in cards for special things (bday, end of year school celebration) and not from us but from other family members. If they want something (my 10 yr old wants a new ds 3d) they need to start saving and doing extra things. He will be saving a long time for that ds! But I want it to have value not just be an expectation.

    I voted for you too!

  • Patricia E

    Q1…I talk to my girls all the time about money. They are young, but the do get it. The oldest asks my why does daddy have to work so much. I tell her that dad has to go to work so that we can enjoy the things we do. I tell her where do you think we got those pjs you are wearing? Daddy works so we can have money to go shopping. No one just hands out money. They don’t have allowences yet, but I am excited to teach them about savings and needs vs wants. Thanks. I voted as well!

  • Amy G

    I’m going to address question number 1, but it’s not with my own children, it’s with my third graders. We state standards that address economics. We use a program called Junior Achievement. One of the lessons through their curriculum discusses saving and spending. There is a short simulation the students go through where they keep track of how much money they are spending and earning.

  • http://savingtoberich.com Daria

    2) I talk to my kids about money while we are shopping all the time. It isn’t just the grocery store – sometimes it’s Target or Goodwill, but they see me comparing prices and deciding if something is worth it or not. I also give them $10 a month allowance (they are 9 and 7) that they can spend however they want (except for on candy). This is helping them value money and helps me avoid those “can I have…” questions because I just say “sure, you can buy it with YOUR money”. You’d be amazed how many things they no longer want when it’s not coming out of mom’s money. :)

  • http://www.bouldermomsconnect.com Amanda H

    4 – They get a $1/week for each year they are. Then we have them divide the money (actual CASH) up into give, spend and save. At the end of the year, around Christmas we let them pick a charity (we give them a few to choose from since they are 2 and 5) and then we match the donation.

    About once a month we go to the bank and deposit their savings. They talk to the bank teller, sometimes they send it through the tube in the drive up (which they think is awesome), sometimes they go in. Our bank is wonderful and lets them see the money counter, pick out a gift from the treasure chest and is always willing to explain things. We match their savings. This is something that we start at age 3, so our daughter is just a few months away from her big girl bank account. Prior to that the money goes in a pig.

    The spending money is for them to choose. The kids hardly ever whine about anything because they have their own money. All we have to do is remind them that next time they need to bring their own money. We rarely buy them any knick knack stuff – they do that for themselves with their own money. They are learning that if they do garage sales and buy used their money goes a long way. They are also learning to save for really special things. Our son, worked for extra quarters around the house for 2 weeks saving to get a special train. He was so proud and so were we. At this age with out kids, they are really learning through some trial an error on how to use their money. It’s fun to see what they end up buying or regretting.

    I really find money is a topic not discussed enough. My parents didn’t talk about it much and my in-laws not at all. So we are trying to be clear with our children so they can see how to use it. We often pay in cash – the green stuff! – so the kids can see, feel, smell it! Its hard for them to get a sense of how many dollars something is, if they never see it. Dad often talks about how many hours he works to pay for X so the kids can get a sense that we work for our money.

  • http://kidnplayja.com Renee Lindo

    1). I talk about money all the time, because he is always wanting me to buy something. So now he gets his allowance, and from that the has to save 10%. give away 10% and the balance he can spend. We talk about good purchasing decisions and if he spends all his money there will be no more. I have him set goals to save toward, so that all goes into the decision before he makes a purchase. It’s amazing how the spending habits change when he has to use his money. Much more thoughtful!

  • http://PragmaticMom.com PragmaticMom

    I try to talk about money as much as possible: at the dinner table, at the bank or grocery store or when my kids have business enterprise ideas. We talk about simple versus compound interest when we make deposits at the bank (ie isn’t interest on your interest great? their answer: how come I only get 1 cent a month interest?)

    I also try to talk cost accounting with them: revenue minus cost of goods = profit. If you were actually paying for the lemonade you are selling, you’d have to subtract the lemons and sugar (water is free) from the money you make.

    But I’m not sure how much of it is sinking in to all of them. My middle is the most money driven. My other two like to spend it or give it away.

  • Lisa

    4. When you give your kids an allowance, do you ask them to set a goal for their spending and/or talk about ways to spend wisely?
    Our family talks about responsibilities and finance daily. We are followers of Dave Ramsey and have utilized his “spend”, “save”, “give” envelope system with our 7 and 3 year old. It never ceases to amaze me when they decide to put the money they receive proportionality into each envelope without hesitation and without prompts from us.
    Your website offers daily inspiration…You are already “tops” in my book(marks) :-)

  • Debbie Kennedy

    1)I often talk to my kids about money when I am going through the flyers clipping coupons or when they see something they want and can’t understand why they can’t have it. We play grocery store and I try to teach them how to sort their money and make change.

  • http://spottybanana.com Ginac

    1. We talk about money all the time. We read the Wall Street Journal at the breakfast table and discuss at least one article relating to money each day. A key item about money that we discuss is the scale of money. 50,000/year sounds like a lot of money to an 8 year-old until she learns about the scale of our national debt or the price tag on a new automobile or a home. We’re working on entrepreneurship, too.

  • Tracy

    1) I talk to my 12 yr. old daughter about money all the time. I talk to her about having a budget and paying bills and saving. I also talk to her about money at the store, while shopping, teaching her how to compare products and prices, buy what’s on sale and use coupons. I also teach her how to wait until something goes on sale before buying it. She has her own savings account and has saved up her own money to buy many different things, such as her ipod touch and decorations/accessories for her room.

  • toni

    Q2 My 7 yr old daughter is an Aspie who has been reading since she was 18 months old but sadly the concept of money and it’s value are a daily struggle for her. I have been letting her help me at the store by clipping coupons for items she likes and giving her a budget to work with. She doesn’t have a lot of interest in money but the piggy bank game just might get her to understand a little more.

  • Regina

    Question 1.) I talk to my kids about money mostly when going grocery shopping. I ask them questions to see if they can spot the deals or which deals are better.
    tarter95 at hotmail dot com

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  • Christen

    #4 – My kids get an allowance based on the chores they choose to do, not automatically. They have certain chores they are required to do because they are part of our family, and then they get to choose chores that are worth different amounts of money. That way, they learn that you have to work for your money, and they get to decide how much money they earn…by doing a little or a lot! All of this makes more of an impact on their spending, as they don’t want to spend their hard-earned money frivolously, and opens the door for spending goal discussions.

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  • Hallie Doyle

    We definitely use the news to teach about finances. It’s amazing what kids can grasp when you talk about the state of our economy, how we got there, what we can do to avoid the problems and be good stewards. We also talk about money at the grocery store–comparing items, price per pound, etc like comparing 3 limes for a dollar as opposed to $2 a pound. I was so clueless at their age, so I really want to think out loud about these things.

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  • Joan Stewart

    1) I often talk to my son about money when we are in stores – and he wants something new (which is most every time we enter a store). Thanks to Imagination Soup’s previous post on the Responsibility Center, we have set up our own version and he is doing “tasks” to earn money. We also made up 3 bags and labeled one “Spend”, one “Save” and one “Give” as in the post. That is teaching him about longer-term goals and reminding him about helping others. Financial responsibility is still an on-going learning goal – for him and me! (I voted for your Blog on Babble because I truly think it is wonderful, but if it helps you become famous also, great!)

  • Gianna Patton

    1) I talk to my daughter about money at every opportunity. She at an age (6 years) where much of it is over her head, but I try to make learning about it fun by having her help me compare prices at the grocery store and helping me count out the money needed at the register. She also receives an allowance for doing chores which she keeps in her working toy ATM. I give her the opportunity to choose whether to spend it or save it for something ‘big’ :)

    G_Patton@hotmail.com

  • http://www.thelifetimesoftheperryfamily.blogspot.com/ Trina Perry

    1) My big kids (30, 27, 25) never really worried about money because we always supplied it and they grew up spoiled so when we got a chance to try again (adopted a two little girls 2 years ago) we went about it completely different. We discuss what things cost all the time with them. We also talk about how to make things last and how to save. They help me shop and compare costs, they do chores for their money and they are so good at saving that they have a ton more money put away than the older kids. In fact, my 8 year old is already saving for college because she wants to be a Veterinarian and knows how expensive it will be for school.
    We got them each a bank that counts the change they put in and they love to do chores to see the money add up!!

  • Christina

    1. Whenever an opportunity to discuss money arises with my 2 yr old daughter I take it. As a single mom, money is scarce so I try to teach my daughter to have fun and enjoy life by appreciating the simple things. When we are shopping I let her scan the items at self checkout so she can see the price and explain you have pay for the items you leave the store with. We play with numbers all of the time and we have fun while learning important life lessons

  • http://www.momcaboodle.com Shanna Bailes

    Question no. 1: I actually talk to my son about money all the time….not about saving it but actually spending it! He is a saver and I am very grateful for that but I would also like to see him actually buy something with some of his money. While saving is great, it doesn’t hurt to reward yourself with a little something every now and then. The kid won’t spend a dime, LOL!

    P.S. I voted for you on Babble :)