Ohio youngsters FETCH! for financial literacy

At a time when 77 percent of families in the United States are in debt, with 46.1 percent of those families holding credit card debt, the Ohio Society of CPAs is reaching out to educate youngsters about the value of a dollar.

The society's CPAs and volunteers are accomplishing this with a unique a program called FETCH!, which features a colorful dog park where teams of fifth and sixth graders compete to handle the finances of owning a pet.
 
Short for Financial Education Teaches Children Healthy Habits, FETCH! teaches students to use critical math and thinking skills to earn money for doggie basics, budget for unexpected expenses, and save money for the future. The society hopes that by teaching smart money management skills at a young age, students will make wise decisions as adults.
 
"FETCH! is a unique way to teach children how and why they must properly manage money," said Jerry Esselstein, CPA and chairman of The Ohio CPA Foundation. "The game is fun, yet requires students to make critical decisions that have real consequences, just like in life."
 
Nearly 400 classrooms across Ohio were scheduled to participate in today's session of FETCH!, according to Amy Johnson, the society's public relations senior manager. With CPAs and volunteers running the program, students will find out what happens in real-life pet situations and the consequences of those situations.
 
For example, if your dog is badly behaved, you might have to pay to fix a neighbor's fence. If your dog wins first place in a dog show, you get a financial reward that goes into a savings account. The children play on teams and the teams must make financial decisions throughout the game. In the end, the team with the most money in its savings account and the most items for its dog wins. The game takes approximately two hours to complete.
 
The Ohio Society of CPAs and its charitable affiliate The Ohio CPA Foundation created FETCH! as a public service for families in Ohio after teachers asked for a program addressing the basics of financial literacy. Both groups collaborated with elementary school teachers and a curriculum developer on the game, which also measures whether students have mastered a basic understanding of financial terms with pre- and post-FETCH! quizzes.
 
In a spring pilot program, 37 percent of students scored a B or better on the pre-game quiz. After playing FETCH!, the students' scores dramatically improved with 60 percent of students scoring a B or better.
 
 
Related articles:

You may like these other stories...

Former DOJ Tax Division head Kathryn Keneally joining DLA Piper in New YorkGlobal law firm DLA Piper announced on Thursday that Kathryn Keneally, the former head of the US Justice Department Tax Division, is joining the firm...
Read more from Larry Perry here and in the Today's World of Audits archive.In my last article, I summarized major differences between principles in U.S. GAAP and the Financial Reporting Framework for Small and Medium-...
OECD calls for coordinated fight against corporate tax avoidanceDavid Jolly of the New York Times reported that dozens of countries with the most advanced economies have agreed on principles for concrete action to prevent...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 21
Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience's communication style.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.