ICFE eNEWS #08-22 - November 3rd 2008
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New FTC Web site for Young People

Washington, DC - The Federal Trade Commission (FTC) has launched a new Web site to introduce young people to key consumer and business concepts. Set in a shopping mall, www.ftc.gov/YouAreHere takes kids on an experiential journey that presents the FTC's mission and its important role in American commerce. Kids under 12 are reported to spend billions of dollars on goods and services every year.

"FTC.gov/YouAreHere links the important work of the FTC to the lives of children," said FTC Chairman William Kovacic. "It teaches kids how to be more savvy consumers by demonstrating the benefits of competition, how advertising can influence buying decisions, and the rules and regulations that many business people deal with. It's a great tool for parents and teachers who are trying to help kids understand their role in the marketplace."

The site features animated guides who help visitors navigate a virtual mall and interact with shopkeepers and other consumers. Kids can design and print advertisements for a shoe store, uncover suspicious claims in an ad, and guess the retail price of various candies based on their supply, demand, and production costs. One game that has players match the features of various cell phones with certain audiences illustrates the principles of target marketing; another allows visitors to compare sales pitches from three pizza joints as it explains competition. A short film playing at the cinema illustrates the history of the FTC.

For parents and teachers, the site offers fact sheets that cover advertising, marketing, and competition in more detail, along with ideas for related activities. "We hope that teachers will use the site in classroom activities that involve consumer economics, government, social studies, history, and language arts," Chairman Kovacic said. "It takes a unique approach to both consumer tips and the role of business and government in daily life."

If you have any questions please contact the FTC, Jennifer Leach at jleach@ftc.gov or 202-326-3203.

About the ICFE:

The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation).  The ICFE is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely. 
The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its education programs and Resources. It publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.

The ICFE became an official partner with the Department of Defense/Financial Readiness Campaign in June of 2004.The ICFE was an active partner in the California Student Debt Resource Awareness Project (CASDRAP) which resulted in a new web site: (studentdebthelp.org).  CASDRAP disbanded in 2010, shortly after the web site project was completed.  In 2011 the ICFE assumed the single sponsorship of the (studentdebthelp.org) web site and is now responsible for its content and operation.

The ICFE is also an on-line help for consumers who spend too much.  ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.

Visit the ICFE's other web sites at: www.financial-education-icfe.org and studentdebthelp.org.  Both sites helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G,  a free eNews, and an online resource center for students, parents and educators, plus financial education learning tools and a book store.

 
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