Unique Educational Games for Financial Literacy
RAND Congressional Briefing Series
- Timothy Flacke Executive Director, D2D Fund
- Nick Maynard Director of Innovation, D2D Fund
Few Americans understand how and why to manage their money and save for retirement. With the support of the Social Security Administration, the Financial Literacy Center was launched in the fall of 2009 by the RAND Corporation, Dartmouth College, and the Wharton School to develop and test innovative programs to improve the financial literacy and economic security of the American public.
The Financial Literacy Center is
- developing educational materials targeted to people at different stages of their lives — young workers, mid-career workers, those approaching retirement, and retirees
- making a special effort to improve financial skills of low-income and minority workers, the most vulnerable groups during economic downturns
- funding Doorways to Dreams (D2D), a nonprofit organization founded by Harvard Business School professor Peter Tufano that is dedicated to expanding financial services to the working poor.
D2D Fund is developing a series of video games that teach important lessons about financial management, such as the wise use of debit cards and credit cards, the importance of saving, and how interest compounds. This briefing will describe the value of financial entertainment as an educational tool, demonstrate two games to be released in November, and describe plans to disseminate and test their effectiveness.
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