Last-minute holiday shoppers with kids on their lists can breathe a little easier this year. The younger set almost universally appreciates gift cards (and cash) in their Christmas stockings and near the Hanukkah menorah over many other gifts for kids.
While not their first choice - video gaming machines and games hold that status - gift cards and money increased in popularity this year among both boys and girls between the ages of 6 and 18, according to new research conducted by the YouthBeat® division of C&R Research, Inc. of Chicago. More boys and girls said they prefer to receive gift cards or cash for the holidays than last year (12.3 percent vs. 7.9 percent for boys; 22.5 percent vs. 19 percent for girls).
This preference rose significantly among children in households with annual incomes of between $50,000 and $75,000 (40.8 percent in 2009 vs. 33.6 percent a year ago). And it really rose among Latino youth, ranked by 43 percent versus 25.8 percent last year.
YouthBeat’s online survey of more than 1,200 youngsters found that nearly 80 percent had received a gift card, up nearly 10 percent from 2008. They also prefer gift cards versus a present chosen for them by about a two-to-one margin. GameStop gift cards were boys’ top choice; girls preferred Target-branded cards. Cards from Wal-Mart were the aggregate store of choice overall.
“Kids of all ages understand how they can use gift cards and cash as a means of getting exactly what they want during the holidays,” explained Paul Metz, senior vice president at C&R Research. “It also shows that they’re well versed in cards’ flexibility. That will be handy for those still looking for last-minute holiday gifts for kids.”
The words “theatre” and “financial literacy” aren’t typically used in the same sentence especially for child education. However, The National Theatre for Children (NTC) based in Minneapolis has worked hard to change that and it’s paying off.
Now, the country’s largest in-school educational theatre company has been invited to perform at the Jump$tart National Educator’s Conference, the first national educator conference devoted entirely to personal financial education. NTC will present Mad About Money on Saturday, November 7, for conference attendees and the media in the ballroom of the Capitol Hilton at 8:30 p.m.
The Jump$tart Coalition for Personal Financial Literacy was established because the average student who graduates from high school lacks basic skills in the management of personal financial affairs. Many are unable to balance a checkbook and most simply have no insight into the basic survival principles involved with earning, spending, saving and investing. Jump$tart’s objective is to encourage curriculum enrichment to ensure that basic personal financial management skills are attained during the K-12 educational experience.
Recognizing the same need, NTC created a series of multi-platform financial education programs - utilizing live theatre, the Internet and television shows - to help the nation’s schools teach important concepts around money. While these programs teach very specific curriculum points, they are also funny and entertaining. Performances of Mad About Money for middle schools, Crazy About Credit for high schools and Showdown in Cash Canyon for elementary schools have encouraged students to save a little more, spend a little less, and use credit wisely.
While student and teacher feedback has consistently indicated that the plays make an impact, a recent study by Dr. Lewis Mandell of the University of Washington provides empirical evidence that NTC’s productions are influencing student attitudes on personal finance. Professor Mandell’s research showed that watching the Mad About Money play - and using the student workbooks and Web site aligned with the program - significantly increased a student’s knowledge of personal finance concepts.
“The intervention increased knowledge by more than 13 percent, which was highly significant,” writes Dr. Mandell in his report.
Financial institutions have taken notice. In the past two years, no fewer than eight corporations have sponsored a Mad About Money tour into schools in their service territories including Bank of the West, CoVantage Credit Union, and Wachovia (now Wells Fargo).
“These companies understand that helping educate students is a good thing to do,” says NTC President Ward Eames. “They also understand that doing ‘a good thing’ has a positive impact on their brand image with teachers and parents, as well as with the young people who grow up to be potential customers. It gives companies a chance to be good corporate citizens and smart business people.” State agencies in North Dakota, Tennessee, Washington and Iowa have also sponsored NTC financial literacy programs for students in their communities.
