Teen Web Site Teaches Financial Literacy; CitiFinancial, Citigroup Foundation, Maryland Public Television Join Forces

11/17/2003

From: Betsy Peisach of Maryland Public Television, 410-581-4042 or betsypeisach@mpt.org

OWINGS MILLS, Md., Nov. 17 -- Teen spending is estimated to reach $175 billion in 2003 (source: Teenage Research Unlimited) and as high school students prepare to enter the world of college or work, we have to ask ourselves as parents and educators: how much have we done to prepare them? Are they able to handle their money, understand credit card debt, maintain a budget, and choose how to save?

Teachers looking for a way to help teens make sense out of money can find engaging and fun resources at "Sense and Dollars" ( http://senseanddollars.thinkport.org ) created by Maryland Public Television with the support of CitiFinancial and Citigroup Foundation. The site teaches teens through interactive activities based on real-life situations, how to earn, spend, save, and invest wisely.

"Finances are a key indicator of success in life, but whose responsibility is it to provide youth with practical skills about personal finance? I think it's everyone's. That's why CitiFinancial and Citigroup are stepping up to the plate. Reaching our children with this information can help them build important money skills before they enter the outside world," says Harry Goff, President and CEO of CitiFinancial, the Baltimore-based financial services firm.

Sense and Dollars, developed in collaboration with educators and economic organizations, incorporates a hip design with interactive activities and tools to engage middle and high schoolers. Among the creative lessons: "All About the Benjamins, Baby" which teaches young consumers about the history of money. "Makin' the Bacon" demonstrates just how many burger-flipping hours it takes to buy that new stereo. "The Scoop on Credit" shows how shop now, pay later can cost you more, and "Growing Money" explains the principles of earning interest. Sense and Dollars entertains and educates teens through true-to-life simulation games such as "Check It Out," "Charge," and "Dream Prom" and online calculators and tools keep the action moving.

A comprehensive online guide for teachers provides useful teaching strategies, curricular suggestions, tips for using technology in the classroom, links to other educational sites and the national education goals that the activities were designed to meet. An online guide for families offers money-smart educational tools to extend learning into the home and community.

"Sense and Dollars is a dynamic tool to assist teachers and students nationwide with financial literacy skills and concepts. Since a majority of high school students graduate with little to no instruction in personal finance, having a high-quality Internet destination for young adults that makes learning about money fun can have a positive impact on our future spenders and savers," says MPT Vice President and Chief Education Officer Gail Porter Long.

To promote the site and financial literacy among young people in Maryland, MPT and CitiFinancial are holding a "Cash for the Bash" contest (deadline December 22, 2003.) One enterprising Maryland high school class will win $5,000 for the best class fundraising project submitted to the Sense and Dollars Web site (contest and prize money provided by CitiFinancial and Citigroup Foundation). All the great fundraising projects will be posted to the site in January 2004 for students across the country to learn from. Go to http://senseanddollars.thinkport.org for complete contest rules and official entry form.

Maryland Public Television is a not-for-profit, state-licensed public television station which serves the citizens and communities of Maryland and beyond through a variety of broadcast and nonbroadcast activities. For more information, visit http://www.mpt.org.

CitiFinancial, a Baltimore-based financial services company specializing in consumer loans, has been in business since 1912 and currently has over 2,000 offices across the United States and Canada. CitiFinancial is part of Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. The Citigroup Foundation focuses its grants primarily in three areas: building communities and entrepreneurs, financial education, and educating the next generation. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: http://www.citigroup.com.