A 2008 survey by the National Jump$tart Coalition found that less than 50% of high school students achieved a passing grade on a financial literacy test and that nearly 75 percent of young American adults lack the skills needed to make beneficial financial decisions.

The nation’s economic troubles have increased focus on how to better prepare today’s youth for making better financial decisions in the future, parents and teachers can enhance learning through online tools designed to teach financial literacy. Some highly recommended tools include:

MoneyU provides a game-based environment to teach high school and college students about making sound financial decisions. The course consists of 120 three-to-five minute lessons incorporating videos, cartoons and simulations to cover a wide range of personal finance topics, including banking, savings, financial planning and credit card use. Individuals can purchase it for $14.95 or schools can purchase the course for $4 per student. The website also includes free online tools for assessing your child’s financial literacy in the areas of money management, savings, spending, credit, and income.

Stock Market Game this free, web-based game teaches students to work in teams to invest a hypothetical $100,000 in the stock market. Students learn to evaluate and track stocks and bonds using Internet research and news updates. An independent study showed that this game not only increased students’ financial literacy scores but that it improved students’ math skills and increased student participation.

Financial Soccer, developed by Visa and following on the success of its 2005 Financial Football game, this free web-based game uses the World Cup soccer format to teach children about personal finance. Players answer questions about credit and debt, savings, and other personal finance topics to advance down the field and score goals.

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