T. Rowe Price Foundation and Junior Achievement Launch Web Portal to Boost Kids’ Money Confidence
October 10, 2013
Portal provides interactive resources for parents, educators and students
Through a transformational partnership, Junior Achievement of San Diego County and T. Rowe Price Foundation have developed a co-branded web portal—available at moneyconfidentkids.com/ja—to provide innovative financial educational content for parents, educators and students.
According to T. Rowe Price’s 2013 Parents, Kids & Money Survey, 73 percent of parents think they have regular conversations about money with their kids but only 34 percent of kids agree. In an effort to make these conversations easier and more frequent, the portal provides resources for parents and educators to teach kids how to invest in their futures through blog posts, quizzes and interactive activities.
Most kids (75 percent) think an online game or mobile app would be helpful to them as they learn about saving and spending. Students as young as 8 years old can start the education process on their own by browsing interactive activities including crossword puzzles, word searches and playing games such as The Great Piggy Bank Adventure® to learn how to save wisely.
“Junior Achievement’s partnership with T. Rowe Price was a great fit as we both have a shared responsibility of building financial capabilities in the community,” said Joanne Pastula, Junior Achievement of San Diego’s CEO and president. “Now, San Diego parents, educators and students can utilize this convenient and fun tool to become more financially literate.”
The site provides direct access to The Great Piggy Bank Adventure®, an online game and mobile app created in collaboration with T. Rowe Price and Walt Disney Imagineering. Players are challenged to set goals, save and spend wisely, while staying ahead of inflation and diversifying their assets. In addition to the online and mobile game, there is an interactive exhibit for families visiting INNOVENTIONS at Epcot® at the Walt Disney World® Resort in Florida.
Today’s children will likely need more than $1 million for retirement, yet only 21 percent believe they will get it by investing in stocks and bonds, while almost as many (24 percent) believe they could more easily achieve it by becoming famous. There is a disconnect in perception and achievement that the portal aims to combat.
“Helping kids learn fundamental concepts, like setting goals, saving, inflation and asset allocation, is the focal point of the partnership with Junior Achievement,” says Ann Allston Boyce, president of the T. Rowe Price Foundation. “We are pleased to provide funding for Junior Achievement to develop an online resource that is readily available to parents, educators and volunteers around the country.”
JUNIOR ACHIEVEMENT OF SAN DIEGO, INC. works locally to reach 52,000 students in K-12 classrooms for the 2013-2014 school year, which takes thousands of volunteers who lead classes and experiential programs. For more information on programs in San Diego and Imperial Counties, visit www.jasandiego.org.
About T. Rowe Price Group, Inc.
Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) is a global investment management organization with $614 billion in assets under management as of June 30, 2013. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. T. Rowe Price’s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.
The T. Rowe Price Foundation was founded and is supported by T. Rowe Price Group, Inc. The Foundation is committed to pursuing the long-term success of the communities where T. Rowe Price associates live and work and provides financial support to qualified US-based nonprofit organizations to develop and sustain strategic initiatives that equip youth for success, empower individuals to improve their lives, and enrich community life through the arts.