Good financial habits start early. A 2016 Bank of America/USA Today joint survey showed the majority of those surveyed regret not learning more about personal finance in school.
The building blocks of good financial education can be developed early. That’s why an ongoing partnership between Bank of America and the Miami Children’s Museum aims to ingrain good habits at a young age. Since the museum’s opening, there has been an exhibit, sponsored by the bank, helping young children learn about earning, spending and saving.
Building on that, the bank and the museum recently unveiled a refreshed Bank of America exhibit. The refresh, focused on integrating today’s digital banking trends and interactive exhibits to facilitate learning, is part of a broader $20 million makeover at the museum, scheduled to be completed by 2018.
The digitized mock bank integrates high tech games and interactive features to teach children how to properly earn, save and spend money.
A touchscreen in the exhibit lets younger children practice number recognition, simple math skills and fine-motor skills. There is also a vault door inside an oversized piggy bank that lets children and their parents work together to solve clues and open the vault.
The new offerings in the exhibits align with Miami-Dade County Public Schools’ core curriculum in addition to promoting interest in STEAM –science, technology, engineering, art and mathematics education.
Bank of America’s exhibit also has an “Earn, Save, Spend” video game which allows kids to simulate holding a job and lets them choose whether to spend or save the money they earn, and a giant $100 bill where parents can snap keepsake photos with their little ones.
In addition to educational resources like the exhibit at the Miami Children’s Museum, Bank of America has developed Better Money Habits, a free, objective online financial resource that pairs Khan Academy’s expertise in online learning with the financial know-how of Bank of America.
The longstanding partnership with Miami Children’s Museum is a demonstration of Bank of America’s commitment to start teaching good financial habits at a young age. The new exhibit will help the museum keep pace with evolving digital banking habits as it teaches children – and their parents – about the core principles of good financial health.