Kimberly Palmer: Do video games level up kids’ money skills?
Kimberly Palmer: Do video games level up kids’ money skills?
Kimberly Palmer: Do video games level up kids’ money skills?
By Kimberly Palmer
August 30, 2021
Summary
Every few days, my 8-year-old son, Neal, asks if he can "Earn something" on Roblox, a popular online video game platform.
But financial literacy experts also say that whether kids really pick up money lessons through video games depends largely on how parents talk with them about their online experience.
Susan Beacham , CEO and founder of Money Savvy Generation, a financial education company, warns that video games often emphasize superficial purchases, like virtual decorations or dressing an avatar.
Parents can bring up games' shortcomings, such as currency that can only be spent, not invested, donated or saved in an interest-bearing account, for example.
Jeff Haynes , senior editor of web and video games at Common Sense Media , a nonprofit that promotes safe technology and media for children and families, says the money lessons can start even before the game is played.
Kids have to consider how much games cost and why they prefer one game to another.
Many popular games involve virtual stores, merchants and a set amount of funds to buy things like a crown or skin for your avatar.
Reference
Tomlinson, W. (2021, August 27). Alabama School Goes High-Tech for Video Game Design class. Retrieved October 26, 2021, from https://www.govtech.com/education/k-12/alabama-school-goes-high-tech-for-video-game-design-class