Each of the states in the USA addresses educational standards for teaching personal finance topics differently. The Jumpstart Coalition for Personal Financial Literacy (www.jumpstart.org) has established the most recognized and comprehensive set of national standards. Click here to download the national standards.
Each of the Jump$tart National Standards are introduced during game play. Players learn:
Personal Decision Making
All players have choices in the game. They must choose how they will allocate their income toward expenses. They choose where they will live, how much they will spend on food, transportation and clothes. Players decide if they will have a cell phone, start a family, or attend college.
Income and Careers
All players start the game with a job and are introduced to income, taxes and benefits. They choose whether or not to invest in education to achieve a new career and further advanced education to become a professional (doctor/lawyer/CEO).
All players must decide how to best manage their money to achieve wealth. Players complete a five year budget and are given opportunities to consider philanthropy.
Credit and Debt
All players are given access to credit and the ability to go into debt to advanced education. The goal of the game is to accumulate net wealth, not through acquisition of assets; but through the elimination of debt.
All players pay for insurance for each period of game play.
All players receive an employee benefit that gives them money to invest into a simulated “market”. This market offers a range of investment choices from conservative to aggressive. Players evaluate their risk tolerances, make choices and track the ups and downs of the market.