Visa USA and the Girl Scouts Create Money Management Resources

These resources are being launched at a time when a new survey shows that teen girls lack an understanding of financial basics. In a recent Visa USA survey, only 33 percent of girls aged 13-17 were able to correctly identify six or more common terms such as interest, APR and IRA. The survey also underscored what an important role parents play in their teens financial knowledge. Girls who had frequent discussions with their parents about money matters scored 17 percent higher than those who had never had a financial dialogue with their parents. Designed to complement GSUSAs existing financial literacy program, the new resources created by Visa and GSUSA are presented in a fun and lively way and designed for girls to use at home or within the traditional troop setting. Specifically, the program includes: Cashin In, a STUDIO 2B(SM) focus book and an interactive Web game entitled Making Cents of Her Life. Cashin In is a full-color, goal-oriented workbook with money lessons and specific actions to help girls develop a spending plan for items such as yearbooks, proms, and college applications. Making Cents of Her Life is an interactive Internet game that features four girls from diverse ethnic and socio-economic backgrounds, during their years at middle school, high school, college, and after finding that first job. The game, accessible on http://www.studio2b.org/lounge/games, allows girls to choose which character they want to help face a series of financial challenges. While these resources are designed with teen girls in mind, anyone can obtain the materials by contacting their local Girl Scout office or calling GSUSA at 1-800-221-6707. Visa USA surveyed 603 girls between the ages of 13 and 17 on April 20 - 26, 2004; the surveys margin of error is plus or minus 4 percent. Additional survey results include: - While 91 percent said a parent had talked to them about saving money, only 74 percent of parents talked to their daughters about budgeting money - Only 13 percent of girls have ever created a detailed, written budget - Just 40 percent had discussed with a parent how the family manages its finances - 62 percent of the girls said they would be interested in learning more about personal finance through a self-paced program on the Internet with educational games and activities. - Among the girls who indicated they worked, 94 percent said they save a portion of their earnings; with 45 percent saying they donate a portion of their earnings to a church or charity. For more information about this money management program, or to download the survey results, please visit http://www.practicalmoneyskills.com.