Service & Children's Book Design
A service provided for American children ages 5 to 9 that fosters financial literacy.
BACKGROUND
As of 2024, only 26 states require education in financial literacy for children in public schools. Only 4 in 7 Americans can be considered financially literate.
RESEARCH FINDINGS
We conducted interviews with educators, parents, and librarians to discover how we might pace information. Many studies about financial literacy also guided our design criteria.
• Incorporating real-life scenarios in education about new topics helps bridge the gap between theory and practice
• Interactive and gamified learning with incentives is most effective for keeping the attention of children
• Structuring learning in chunks of information is most accessible and effective for retention
• There is no current standard of a child's financial literacy knowledge upon entering teenage/adulthood
• Financially illiterate children grow into financially illiterate adults who cannot make smart and informed financial decisions
Problem space
In the scope of American primary and secondary education, only about half of schools require classes about financial literacy.
This leaves many children at a disadvantage without basic knowledge of things like saving, spending, budgeting, and the importance of money. While there are currently services that provide students with basic information, there are few comprehensive resources that gradually teach children about finances in a fun and interactive way.
SERVICE DESCRIPTION
This service is designed to educate 5 to 9-year-old American children about financial literacy through a series of books sold online. Each book contains age-appropriate concepts in a fun and engaging interactive story format. The concepts are further reinforced with engagement on a digital platform through online mini games. The subscription model delivers a book quarterly to ensure ongoing learning about key financial topics like saving, spending, budgeting, and the importance of money.
BOOK SERIES
This 16 book series builds upon previous information with each book to create a comprehensive knowledge base about finances. With suggested ages listed, these books are delivered quarterly to subscribers.
Online Mini Games
Mini games are designed to reinforce content learned. The book's corresponding online mini game is similar to an interactive activity found in the book.
For example, Volume 1 asks readers to categorize items as "Needs" or "Wants". In this mini game, children can sort items into these categories based on the theme they choose. This helps them contextualize items and understand that not all scenarios will have the same "Needs" and "Wants".
impact
With existing educational subscriptions and successful comparable models, there is a proven customer base that would be inclined to invest in the service due to need and its finite timeline. By partnering with educational institutions to support and promote our initiative, this could impact thousands of children.
BiLLY & BUDDY will provide an ongoing knowledge base of financial topics for children ages 5 to 9 so they might approach finances with curiosity, confidence, and ease as they grow. This wil allow them to become financially independent, aware, and successful adults.