Imagine a new video game that simulates the ebb and flow of the stock market against the backdrop of a fantasy world, or a book that shows kids the importance of saving their allowances for a rainy day or a video that teaches them how to start their own business.
That's what children between the ages of 6 and 19 will be doing this summer as part of the NYSE Financial Future Challenge. The contest challenges kids to develop innovative ways to teach their peers the importance of finance, money management and investing in the stock market. It is sponsored by NYSE Foundation, a private philanthropic foundation with $13 million in assets; By Kids for Kids Co., a youth marketing and media company that aims to foster youth entrepreneurship; and K12 Inc., a technology-based education company.
Norman Goldstein, CEO and founder of By Kids for Kids, Stamford, Conn., said many young people see the effect the economy is having on their parents but are uninformed about why it is happening.
The goal of this competition is to understand what the financial markets are all about, he said in an interview. The winning project will be distributed to schools nationwide to teach kids about finance and the economy.
For more information, visit http://www.bskfk.com. Timothy Inklebarger