Money management and dabbling in the stock market can be a nerve-racking experience for those who haven’t done it before.
A recent survey by Capital One found that by graduation, nearly half of graduating seniors aren’t confident in their ability to manage their finances. However, financial education increased confidence levels to 81 percent.
Formal classroom education isn’t the only way to become more financially savvy. Learning the ropes of the stock market can be achieved online.
People can experience Wall Street without the risk by playing Young Money’s stock market game. The game allows aspiring stock brokers to access stock quotes and compete against other players for major profits.
Potential earnings aren’t merely fictitious, though. Prizes each month worth $100 are awarded to the player who earns the highest percentage gain.
Gambling on the stock market can be hard to stomach for those who have already watched their earnings decrease during the recession. With the stock market still being extremely volatile, practicing money management in a simulated environment can help prepare investors for when they are ready to jump into the market.