For Immediate Release:
March 9, 2010
Children can be smart consumers, too
Parents can help children learn about good money habits
FREEHOLD – With the theme of the 2010 National Consumer Protection Week (March 7-13) being Dollars & Sense: Rated “A” for All Ages, the Monmouth County Department of Consumer Affairs is highlighting the importance of using good consumer sense at every stage of life – from grade school to retirement.
“Nationally, children under 12 spend billions of dollars on goods and services each year, so it makes sense to provide them with valuable tools to make smart decisions in the marketplace,” said Patricia Watson, director the county’s Department of Consumer Affairs. “The Federal Trade Commission has put together a list of internet activities and resources for parents to guide their children into responsible money management. We have links to the key resources on the county’s Web site at
www.visitmonmouth.com.”
The Federal Trade Commission’s resources include:
- The FTC’s virtual mall where kids can play games, design ads and chat with customers and store owners. Visitors learn key consumer concepts, such as how advertising affects you, how you benefit when businesses compete, how (and why) to protect your information, and how to spot scams.
- Kids.gov is the official kids’ website from the U.S. federal government. It links to over 2,000 web pages from government agencies, schools and educational organizations. The site is divided by age group and by topic.
- Net Cetera is a free booklet from the Federal Trade Commission chock-full of practical tips to help parents help their kids navigate the online world – whether they’re dealing with social networking and cyberbullying or sexting and file-sharing.
- Fcc.gov provides parents with information about today’s increasingly complex media environment, its risks and opportunities for the nation’s children and challenges parents to monitor what children are watching and hearing. The FCC has a variety of resources to help parents learn more about communication issues that affect children and monitor the communications that their children access.
- The National Financial Capability Challenge is an awards program designed to increase the financial knowledge and capability of high-school aged youth. It challenges high school teachers and other educators to teach the basics of personal finance to their students, and rewards students, educators, schools, and states for their participation and their success.
- The Federal Reserve System web page, written especially for middle school students, explains what the Federal Reserve System is and how it works. It is designed in a user-friendly, question-and-answer format to ensure easy navigation and the ability to learn basic information about the Fed. It features information about the history, structure, and primary functions of the Federal Reserve; the Chairman of the Board of Governors; and the structure of Federal Open Market Committee.
- The FDIC Learning Bank is the FDIC educational source for students, teachers, and parents.
“The message of National Consumer Protection Week 2010 is simple: It’s never too early or too late to become a more informed and empowered consumer,” said Freeholder Director Lillian G. Burry, liaison to the county’s Department of Consumer Affairs. “I encourage parents to use this week to provide our youth with useful lessons about spending and managing money wisely.”
“It’s important that kids understand key consumer and business concepts, like credit and identity theft, banking and fraud, and marketing and advertising,” Watson said. “The resources highlighted during this week will introduce these concepts and teach kids practical lessons about the role of business and government in their everyday lives.”
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