Schwabmoneywise.com Helps Parents Invest in Kids' Futures Without Spending
a Dime
SAN FRANCISCO, April 12 /PRNewswire-FirstCall/ -- Parents and
grandparents seeking to ground their children in the basics of modern-day
money management have a new resource to turn to at http://www.schwabmoneywise.com
. The Web site offers practical guidance, tools, tips, calculators and a
life-stage-based interactive game to help adults learn how to talk to kids
about money and equip them with critical knowledge of personal and consumer
finance.
The site is organized by financial topic (budgeting, saving, borrowing,
investing, taxes and philanthropy); and by financial milestone (managing an
allowance, getting a first job, buying a car, going to college and leaving
home). Based on the premise that there are teachable moments in life when
young adults become more receptive to information, the site offers
perspective and guidance for parents to make the most of each financial
rite-of-passage in helping kids get a strong head start.
The site was developed based on Schwab research showing that parents
want help educating their kids about money. Coincidentally, the 2007 Schwab
Teens & Money Survey shows that teens themselves want to learn. Almost two
thirds of teens (65 percent) believe that learning about money management
is interesting; more than half (60 percent) say that it's one of their top
priorities; and nearly nine in ten (89 percent) say they want to learn how
to invest their money to make it grow.
"We're hoping this Web site paves the way for parents, grandparents and
other adults to help coach the young people in their lives toward financial
fitness," said Carrie Schwab Pomerantz, chief strategist of consumer
education at Charles Schwab & Co., Inc. "Kids today are growing up in a
much more demanding financial world than young adults had to face even a
generation ago. Providing them with the right knowledge and skill-sets now
should enable them to make smart financial choices throughout their lives."
From Financial Basics and Financial Milestones to Calculators and an
Interactive Game
Adults are invited to explore the site's financial basics section,
which includes a hierarchy of learning. With each financial basic, the
learning experience can be tailored to the life circumstances of the child.
Individual topics are linked to related information within the financial
milestones section, such as establishing and managing an allowance, getting
a first job and paying taxes, buying a car, saving for college and
ultimately leaving home. Interactive tools, such as a savings calculator,
budgeting planner and a debt payoff calculator, allow for hands-on learning
and bring essential lessons about money to life.
The game Schwab MoneyWise(TM) It's Your Life provides an engaging way
to illustrate the long-term effects of discrete decisions made along life's
path. Through a series of questions, options and random events that pop up
along the way, the player can see what the future might hold based on
different financial choices made along the continuum of "life."
Visitors to the site are invited to offer suggestions and feedback
within a section called "Let's Talk."
Schwab and Financial Literacy
The Schwab MoneyWise(TM) program addresses a pervasive need for people
to understand the basics of personal and consumer finance in order to be
financially successful throughout life. The program has its roots in
research and work the company has done for many years promoting financial
literacy, including a series of best-selling personal finance books by
Charles R. Schwab, as well as Charles Schwab Foundation's work with teens
through Boys & Girls Clubs of America and the educational program Money
Matters: Make It Count(SM), now in its fourth year. Schwab MoneyWise builds
on this legacy by providing additional educational resources for the
general public.
About Charles Schwab
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of
financial services, with more than 300 offices and 6.8 million client
brokerage accounts, more than one million corporate retirement plan
participants, 150,000 banking accounts, and $1.3 trillion in client assets.
Through its operating subsidiaries, the company provides a full range of
securities brokerage, banking, money management and financial advisory
services to individual investors and independent investment advisors. Its
broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC,
http://www.sipc.org), and affiliates offer a complete range of investment
services and products including an extensive selection of mutual funds;
financial planning and investment advice; retirement plan and equity
compensation plan services; referrals to independent fee-based investment
advisors; and custodial, operational and trading support for independent,
fee-based investment advisors through its Schwab Institutional division.
The Charles Schwab Bank, N.A. (member FDIC) provides banking and mortgage
services and products. CyberTrader(R), Inc. (member SIPC,
http://www.sipc.org) is an electronic trading technology and brokerage firm
providing services to highly active, online traders. More information is
available at http://www.schwab.com . (0407-5653)
About Charles Schwab Foundation
Funded by the Charles Schwab Corporation, Charles Schwab Foundation is
committed to giving back to the community by supporting employee-selected
causes and fostering financial literacy through funding, involvement and
expertise.
About Boys & Girls Clubs of America
Boys & Girls Clubs of America (http://www.bgca.org) comprises a national
network of some 4,000 neighborhood-based facilities annually serving more
than 4.6 million young people, in all 50 states and on U.S. military bases
worldwide. Known as "The Positive Place for Kids," the Clubs provide
guidance-oriented character development programs on a daily basis for
children 6-18 years old, conducted by a full-time professional staff. Key
Boys & Girls Club programs emphasize leadership development, education and
career exploration, financial literacy, health and life skills, the arts,
sports, fitness and recreation, and family outreach. National headquarters
are located in Atlanta.
SOURCE Charles Schwab
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Related links:
http://www.schwab.com/
http://www.bgca.org/ http://www.schwabmoneywise.com/
CONTACT:
Sarah Bulgatz of Charles Schwab,
+1-415-636-5940, or sarah.bulgatz@schwab.com; or Marcy J. Walsh
of CRT/tanaka, +1-310-659-5380, or mwalsh@crt-tanaka.com
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