CHAPTER 11: Using Technology to Develop a Broad Understanding of Financial Literacy Among K-12 Students

In January 2011 the 10 billionth app was downloaded from the Apple iTunes App Store. An app (application) is a software program designed for mobile device (smartphones, iPods, and tablets) operating systems. This event was remarkable in both the number of programs that consumers had downloaded, but also the relatively short time in which it occurred.

Coupled with this sign of the times is the reality that the financial world and the methods by which people manage their financial lives have evolved as well, due to the changes in technology. It is not uncommon for individuals to rarely visit a bank or other financial institution given that many transactions can be handled in the comfort of home with an Internet connection. Some financial services are even available to smart phone users. These users can track deposits and expenses, transfer funds, and deposit checks with the click of camera phone and the uploading of the image to the financial institution. For economic and financial educators, it seems only natural to consider how to integrate technology applications into existing instruction.