What is World of Money and how does it work?
World of Money offers video lessons on important financial topics. Lessons are divided by the age of the intended audience, and World of Money has content for the following groups:
- “Young Moguls” (ages 7 to 9)
- “Rising Moguls” (ages 10 to 12)
- “Moguls” (ages 13 to 18)
- “Super Moguls” (ages 19 to 26)
The non-profit organization behind the app also offers financial education classes for all ages. Video lessons in the app are taught by graduates of these classes who are close in age to the intended audience. For example, “Young Moguls” lessons will typically have a narrator between the ages of 7 and 9. That way, users can learn about personal finance from a peer.
Financial lessons are tailored for the intended age group. The lessons for younger users cover more basic concepts, such as the difference between needs and wants. Lessons for older users are more advanced, as they explain budgeting, how credit cards work, and much more.
Every World of Money lesson has a quiz at the end for users to test their knowledge. The app also offers flashcards.
Video lessons on financial topics
You can get a thorough financial education with World of Money’s video lessons. There are dozens of lessons available, and they cover just about all the major financial topics. The app includes info on the history of money, from the development of a monetary system to paper money. It also has plenty of lessons on modern finance. Here are examples of topics covered in World of Money modules:
- Money mindsets
- Rich versus wealthy
- Growing your money and wealth
- Paying for college
- Investing in the stock market
What’s nice about the lessons is that they don’t take very long. These are bite-sized videos, with most lasting about three-to-four minutes. You or your kids could improve your financial literacy by using World of Money for just five minutes per day.
Content for ages seven and up
Many financial literacy apps focus on a specific age group. If a user isn’t in that age group, then the content may be either too basic or too advanced.
You won’t have that problem with World of Money. The app offers lessons for four different age groups, from children ages 7 to 9 to young adults ages 19 to 26. And adults of all ages could benefit from the most advanced lessons.
The narrator of each video is a World of Money program graduate around the same age as the intended audience. That can make lessons feel more accessible, especially the ones aimed at younger users.
Although the video lessons are the main draw with World of Money, the app also offers flashcards for each age group. Each card offers a clue for one of the financial concepts covered in the module. In those moments when you can’t watch a video, flashcards provide another way to study.
Free to use
World of Money is 100% free. There’s no charge to download the app, and there’s no subscription fee. For anyone with a tight budget who wants to learn more about money, this app is a great choice.
What could be improved
Only offers lessons in videos
If you’re not big on learning through videos, then World of Money probably isn’t right for you. Although it offers flashcards and quizzes, every lesson is taught using a video. Those who prefer learning by reading or through interactive content will have to look elsewhere.
Quizzes don’t always load
While testing the app, quizzes often didn’t load after a video lesson ended. Considering these are a key part of reinforcing what you just learned, it’s frustrating when quizzes aren’t available.
View more information: https://www.fool.com/the-ascent/personal-finance/world-of-money-review/