The lack of financial literacy has led to people making poor financial decisions. Such financial literacy deficiencies can affect an individual's or family's day-to-day money management and ability to save for long-term goals such as buying a home, seeking higher education, or financing retirement. Ineffective money management can also result in behaviors that make consumers vulnerable to severe financial crises (Braunstein, 2002). On a larger scale, the level of literacy of its citizens is critical for a country's prosperity.

However, there is currently a lack of systemic support for financial education. Most schools do not have financial curricula. Other methods of learning about finance, such as parents and peers, are not working or are nonexistent, as evidenced by statistics showing individuals' low scores in financial literacy surveys and reports on indicators such as credit card debt. It is critical for youth aged 16-24 to develop financial literacy, since studies show that patterns of spending typically develop during adolescence. Fifty percent of high school students enter the workforce upon graduation, making it extremely important for this age group to be knowledgeable in financial matters.

To address these deficiencies in the existing system, our team is proposing a financial literacy application for this target age group. Using a theoretical framework around the ideas of behavioral change models, motivational learning, situational-based learning, and instructional design, we propose to develop an engaging online simulation that will teach kids the essentials of personal financial management including budgeting, savings and banking. Our goal is to help kids become economically empowered and be brought to social justice as they grow up.