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Intuit Introduces Quicken Kids & Money
New Program Makes Financial Literacy as Fundamental to Kids as Buckling up or Brushing Teeth
MOUNTAIN VIEW, Calif. - March 6, 2007 - Tackling the enormous need to educate kids about money, Intuit Inc. (Nasdaq: INTU) today introduced Quicken® Kids & Money, a Web-based program that helps parents teach their five- to eight-year-old children how to earn, spend, save and share their money wisely through real life experiences and using real money. Quicken Kids & Money addresses a critical need for early financial education that can instill good habits to last a lifetime.

In April 2006, the Jump$tart Coalition for Financial Literacy gave high school seniors a basic financial literacy test where the average score was a shocking 52.4 percent. And in a less formal yet engaging discussion with a first-grade class, Intuit employees discovered first-hand what five-year-olds had to say about money. Kids told interviewers: "There are 50 quarters in a dollar," "My dad makes $10 million a year," and "Money comes from the money place."

With credit card debt at an all-time high and 40 percent of Americans living beyond their means, there has never been a better time to help get future generations on the path toward financial literacy. Parents who have pre-tested the program say it reduces the parent-child conflicts over money, while increasing their child's sense of financial independence, responsibility, and decision-making skills.

"Parents have begun to recognize that their kids don't know enough about how to manage money and not all of them have the opportunity to learn about it in school," said Laura Levine, Executive Director of the Jump$tart Coalition for Personal Financial Literacy, a national coalition dedicated to preparing young people for life-long successful financial decision-making. "Intuit has created a solution that tackles this problem in the home, and this can begin to change and instill behaviors that can make a positive difference in the lives of people."

"The Quicken Kids & Money program teaches my kids how to handle money and determine the value of things," said Lisa Sherman of Springfield, New Jersey. "And more important, they are learning to be better customers. It makes them accountable and keeps me on track where I might [otherwise] let them slide. What's not to love?"

Five components to financial education
The Quicken Kids & Money program contains five key components:
  • Quicken Kids & Money Welcome Kit — This package is filled with tools to get started, including colorful money pouches that give kids their own place to put their money and an easy Getting Started Guide.

  • Step-by-Step Lessons — These tutorials help parents teach their children about money using real-life situations and allowance. Children's responsibility grows as they soon begin using their new-found skills and habits. Some lesson examples include delaying gratification, setting goals, and discovering the rewards of earning money by doing odd jobs.

  • Members-only Web site — A resource for parents with information from specialists about motivation, chores, allowance and more. It includes ongoing guidance from Quicken's panel of education specialists, and access to a rich library of information on topics including setting an allowance, motivating children and encouraging responsibility.

  • Parent Discussion Boards — An online community linking to other parents in the program. Users can learn what other parents are doing, post their own opinions, experiences, share success stories and get help with any questions they may have.

  • The KidsZone — A fun and safe place for kids to learn online as they interactively build money habits and skills. Kids can manage their budgets and practice new money skills while playing games, doing activities and interacting with "Reggie the Register," their animated KidsZone host.
Pricing and availability
Quicken Kids & Money is available online at www.quickenkidsandmoney.com for $99.99.
 
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax® software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation software suites for professional accountants. The company's financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.

Founded in 1983, Intuit had annual revenue of $2.3 billion in its fiscal year 2006. The company has more than 8,100 employees with major offices in the United States, Canada, the United Kingdom and other locations. More information can be found at www.intuit.com.
 
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