VR stories teach children financial management

Australia’s Commonwealth Bank created a virtual reality story and experience to teach children across the country the basics of money management.

Part of Australian Commonwealth Bank’s free financial education program Start Smart, The Teleporter Adventures are a new, immersive, educational story for children. Designed for use by parents and children together, the virtual reality (VR) experience teaches the difference between wanting and needing something.

The story can be downloaded as a PDF, and many schools provide the book and headset as part of the curriculum. The app works with both iOS and Android phones and uses The Teleporter, a branded Google cardboard VR headset. The story is participative, with children asked to answer questions that shape the journey.

Financial management is notoriously tricky, and a combination of games and technology is helping make difficult subjects easier and more fun to learn. Snapchat and texts guide students through the tortuous financial aid process, and a chat-based app that uses emojis provides money management advice. How else could technology improve the interactions consumers have with financial institutions?