Akron, Ohio, October 27, 2015 — Fifth and sixth grade students at St. Hilary School and Lakeview Intermediate School will make big spending, saving and budgeting decisions Nov. 5 in a special lesson taught by CPAs from Levin Swedler Kennedy – CPAs in Akron.
Smart money management are the lessons of FETCH!®, a financial literacy program presented each November by members and volunteers of The Ohio Society of CPAs.
FETCH!, which stands for Financial Education Teaches Children Healthy Habits®, is a classroom board game that teaches children financial basics. The game is set in a dog park where students manage the finances of owning a pet. With each turn, they use critical math and thinking skills to earn money for basics like a leash and collar, budget for unplanned expenses and save money for the future.
The need for FETCH! is clear. A recent survey from the American Institute of Certified Public Accountants (AICPA) found a large gap between college student’s perceived financial literacy and their actual skill set. College students are confident in their financial management skills – 57 percent said that they had excellent or good personal financial management, and only 12 percent rated their skills as poor—but the numbers were a bit different when it came to students’ actual habits.
Almost half of students surveyed had less than $100 in their bank account during the past year and 38 percent needed to borrow cash from someone. A smaller but still significant number—11 percent—had missed a bill payment.
Students aren’t asking for help even though they clearly need it. Only 23 percent sought out personal financial management information while 41 percent rarely or never apply advice they receive into their spending and saving decisions.
FETCH! teaches younger children important financial management concepts so they are prepared when they have to make financial decisions on their own.
“The game brings financial lessons to life in a meaningful and fun way that kids understand,” said Todd Kennedy, CPA, Levin Swedler Kennedy. “FETCH! helps children grasp that the responsibility of owning a pet extends beyond just walking and feeding it—you also have to pay for it.”
FETCH! was created by The Ohio Society of CPAs with guidance from elementary teachers and a curriculum developer. It includes a testing component to gauge if students have mastered a basic understanding of financial terms.
Click here to see a video of FETCH! in action.
The Ohio Society of CPAs is a leading partner and influential voice for a thriving business environment. We empower Ohio’s 30,000 CPAs and financial professionals to drive value as trusted business advisors by advancing advocacy and education programs that strengthen Ohio’s tax and business climate and make our state a friendlier place to live and do business.