DoSomething.org is a global, nonprofit platform that lets kids and teens solve the problems they identify in the world. The problem? 72% of American college students say that personal finances stress them out. The solution? Play a game! Learning easy ways to manage finances increases confidence, financial literacy and decreases stress.
Spend Your Cheddar Better is a “would you rather” game. The game is played with three friends via smart phones. Questions are texted to the group- Would you rather have:
- six months of savings or
- pay off all your student loans at once?
After everyone has a chance to answer, the pro team gives the rationale behind the correct answer, as well as tips and tools. Some of the questions are fun, some are ridiculous, but all require new and complex thinking about handling money. Teams of four who play the game are entered to win a $5,000 scholarship, sponsored by Sun Trust.
DoSomething.org reports that over 1.4 million games of Spend Your Cheddar Better have been played since 2012.
Sun Trust is sponsoring Spend Your Cheddar Better, as well as the OnUp Movement. OnUp is a financial literacy platform that teaches teens and college students some basics like how to start a savings account, how to track spending, how to use money as a tool to finance your dreams. They use real-person stories and examples for inspiration.
Sun Trust provides banking services such as personal and small business banking, online cash management, and trust and investment management.
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