Wharton Ran A Teen Money Ideathon. Run One At Your Kitchen Table.

Last Saturday, September 26, high school students in the Philadelphia area were invited to spend a day learning about money from some serious experts.

The Teen Financial Empowerment Summit, held at a hotel near the Philadelphia airport, brought in Wharton School faculty and Goldman Sachs professionals. According to PhillyVoice, they planned short, hands-on sessions on paying for college, using credit wisely, investing, first paychecks and starting a business. Admission was free for students and their families, with lunch included.

The part that caught our attention was the ending. The day was designed to finish with the F³ Financial Ideathon. Students would work in teams on a real financial challenge, then present their ideas to a panel, with prizes for the top teams.

That format works. And the best part is that any family can run a version of it at home in about 90 minutes, with paper, a timer and a snack.

You may have heard of a hackathon, where people team up to build software in a short, intense burst. An ideathon is similar, but the goal is ideas and plans rather than code.

Here is the basic shape:

1. A challenge. A real problem, described clearly. For example: "A 16-year-old wants a $600 used laptop by March."
2. Teams. Two to four people work together.
3. A time limit. Short enough to create focus. Usually 20 to 45 minutes.
4. A pitch. Each team explains its idea in a few minutes.
5. Judges. Someone scores the ideas using clear rules, then gives feedback.

The magic is in the time limit and the pitch. Kids have to decide, not just discuss. And explaining a money plan out loud forces them to check whether it actually adds up.

Most adults say they wish they had learned more about money earlier. Mastercard, reporting on a poll by the National Endowment for Financial Education, noted that 76% of people surveyed named financial education as the school subject most essential to adult life, ranking it above math, English and computer science. Among adults who never got financial education, 70% said their quality of life would be better today if they had.

Lectures help, but money skills stick when kids make decisions with real tradeoffs. That is why many school programs are built around scenarios. Junior Achievement describes its semester-long JA Financial Literacy course as teaching earning, spending, saving, investing and credit through real-world scenarios and collaborative problem-solving.

An ideathon packs that same idea into one evening. Kids face a realistic problem, work as a team, and defend their choices.

There is another reason to start now. Greenlight's family trends report, cited by Mastercard, found that 12 is now the average age of kid investors on its platform. Plenty of kids are ready for real money conversations earlier than parents expect.

Here is everything you need for a 90 minute family event.

Materials: - Paper, pens and sticky notes - A phone timer - A calculator, or a phone - Printed or handwritten challenge cards (see the next section) - A small prize, like choosing Friday's dinner or skipping one chore

People: - At least two teams. Siblings can compete, cousins can join, or one kid can team up with a parent against another kid and parent. - One judge. A grandparent, older sibling or family friend works well. Video calls count.

Schedule: - 10 minutes: Read the challenge together and ask questions - 30 minutes: Teams build their plan - 15 minutes: Each team pitches, up to 5 minutes each - 15 minutes: Judge scores and gives feedback - 20 minutes: Talk about what everyone learned, and eat the snack

Pick one card per ideathon. Each has a goal, some limits and a twist to make it interesting.

Card 1: The laptop goal. A 15-year-old earns $40 a week babysitting and wants a $600 used laptop in 16 weeks. They also spend about $15 a week on food with friends. Build a plan to get the laptop on time. Twist: In week 6, a babysitting family goes on vacation for two weeks.

Card 2: The first paycheck. A teen's first paycheck is $320 after taxes. Decide how much to save, spend and give. Explain why. Twist: Their phone screen cracks, and the repair costs $90.

Card 3: The family trip fund. The family wants a $1,200 weekend trip next summer. Find three ways to save or earn the money without anyone being miserable. Twist: You may only cut one thing everyone enjoys.

Card 4: The side business. Start a business with $50 that makes at least $150 in profit in six weeks. Show your costs, your price and how many sales you need. Twist: Your main supply goes up 20% in price.

Card 5: The credit card offer. A 19-year-old gets a card with a $1,000 limit. Make three rules for using it safely, and explain what happens if they only pay the minimum. Twist: A friend asks to borrow the card for a concert ticket.

The twist is important. Real money plans always meet surprises, and learning to adjust is the skill that matters most.

Give the judge a simple rubric so feedback is fair. Score each category from 1 to 5.

• Does the math work? Numbers add up, and the plan reaches the goal.
• Is it realistic? Would a real person actually stick to this?
• Did they handle the twist? Clear adjustment, not panic.
• Is it clear? Could someone else follow the plan from the pitch?
• Is it creative? Did they find an option nobody else thought of?

The top possible score is 25. Ask the judge to say one thing each team did well and one thing to improve. Keep feedback about the plan, not the person.

For the business challenge on Card 4, have teams sketch a one-page plan before pitching: the problem, the customer, the price and the costs. The free lessons on Foundra Kids include a simple template teams can fill in right at the table.

Mastercard's age-by-age guide offers useful direction here.

Grade school: Focus on the basics: things cost money, and money is not unlimited. Use smaller numbers and one decision at a time. Try a version of Card 3 with a $50 goal, like a family movie night.

Middle school: Add budgeting and thinking ahead. Mastercard suggests connecting savings goals to things kids care about, like concert tickets. Cards 1 and 4 work well.

High school: Bring in long-term goals, first paychecks and credit. Cards 2 and 5 fit here. You can also ask teens to research real prices online before they pitch, which makes the plans more accurate.

Mixed-age teams can work too. Give the youngest person a real job, like keeping the timer or checking the math with a calculator.

The best ideathons do not end at the pitch. Pick the winning idea and try a small version for two weeks.

• If the laptop plan won, track actual earnings and spending for two weeks and compare them with the plan.
• If the side business won, sell to five real customers with a parent's help.
• If the trip fund won, start the savings jar or account tonight.

At the end of two weeks, hold a short check-in. What worked? What did the plan get wrong? What would you change?

That loop of plan, test and adjust is exactly how real businesses and real budgets improve. And it turns a fun evening into a habit.

What was the Teen Financial Empowerment Summit? A free event for Philadelphia-area high school students and their families on September 26, 2026. Wharton faculty and Goldman Sachs professionals led sessions on college costs, credit, investing, first paychecks and starting a business, and the day was planned to end with a team ideathon.

What age is right for a family ideathon? Kids as young as seven can join with simple challenges and help from an adult. Middle and high schoolers can handle the full format on their own.

How long should an ideathon take? About 90 minutes at home works well. The work time should be short enough to keep everyone focused, usually 20 to 45 minutes.

Do we need real money to do this? No. The challenges are practice scenarios. Testing the winning idea afterward may involve small real amounts, with a parent's guidance.

What if my kids argue during team time? Assign roles: one person tracks the numbers, one writes the plan, one prepares the pitch. Clear jobs cut down on arguments and give everyone a way to contribute.

1. Philly teens can learn about money from Wharton faculty and Goldman Sachs pros at a free financial literacy summit, PhillyVoice, September 18, 2026
2. Pennywise from K through 12: A parents' guide to teaching financial literacy, Mastercard
3. Poll: Financial education considered an essential subject, National Endowment for Financial Education
4. 9/22/26 Junior Achievement Financial Literacy, New Jersey Coalition for Financial Education