Activity Idea: Financial Advice By Text
I came across this TechCrunch article about a new company called NextGenVest:
It’s setting out to help students manage the process of financial aid applications and financial management. Think: your friend who’s already done it all, checking out your forms and guiding you through the process.
The platform provides reminders, guidance and on-demand help over SMS text message and Snapchat (see examples below).
So, what’s the activity? Pair your students up. One student is the financial novice asking a question about one of the financial activities below while the other student is the “financial expert,” who will need to know the topic that they should prepare for (see sample list of topics below):
- Develop and execute on a savings goal
- Investing in a Roth IRA
- Manage their checking account
- Paying for College/Applying for Financial Aid
- Build a budget
Similar to this screenshot in the article (click to enlarge), students will complete a texting dialogue to complete one of the financial activities described above. The expert student will need to link to external resources and be very specific in his/her set of instructions to help their friend, who will need to be curious in asking the right questions to elicit the proper information. The novice also gets an opportunity to provide feedback to rate the “expert’s expertise.” Enjoy!
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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