Teaching children to save is a great first step, but there is much more to being a financially savvy consumer. To help, a virtual shopping mall has been developed by the federal trade commission for students in fifth through eighth grade at ftc.gov/youarehere.
At the virtual mall, they can enter their choice of stores to learn about consumer matters by playing games, designing advertisements and chatting with pretend store owners. They can learn the basics of business competition, supply and demand, advertising techniques and protecting their privacy to avoid identity theft, as well as how to spot bogus offers and rip-offs.
Parents and teachers can also use the mall’s resources to reinforce their own lessons in critical thinking, social studies, business matters and civics. A trip to the mall has never been so educational!