\ Equipping Youth With Tools to Thrive in Today's Economy
Video: Page (1) of 1 - 02/26/18

Equipping Youth With Tools to Thrive in Today's Economy

By Clip Syndicate

Don't let financial illiteracy hold your child back. We chat with an expert and author about setting your kids on an early path to financial success.

http://eplayer.clipsyndicate.com/view/12487/7260053 Video: Equipping Youth With Tools to Thrive in Today's Economy
Don't let financial illiteracy hold your child back. We chat with an expert and author about setting your kids on an early path to financial success.
http://chic.clipsyndicate.com/video/playlist/12487/7260053?cpt=8&wpid=2637 Mon, 26 Feb 2018 16:46:42 +0000 Equipping Youth With Tools to Thrive in Today's Economy Don't let financial illiteracy hold your child back. We chat with an expert and author about setting your kids on an early path to financial success. http://chic.clipsyndicate.com/video/playlist/12487/7260053?cpt=8&wpid=2637 WTAT to the thing to the now present mothers who created a new innovative game that allows kids to flex their storytelling imaginations now it's time to flex kids understanding of savings spending and budgeting money are joined by jane pearl author of the book series kids and money guide and co author of kids wealth and consequences. ensuring a responsible financial future for the next generation. she joins us via skype from amherst massachusetts jane thank you for being with us it's my pleasure. all right let's get to know you a little bit better what is your background and look interested in teaching about two kids and finances change well i started our homestudy being journalism and economics and managed to land a job for the magazine as a checker and reporter researcher and work my way up to a reporter and so i was writing a lot about finance and saving investing and family businesses. i helped start a magazine called family business and all that kind of one i had a child made me think about how to impart not just financial literacy but also financial values to my son and he was my guinea pig and along the way and i managed to write this book basically to help me research the best ways to accomplish that and her three year research that you've also noticed that through the generations we've gone from schools that provide financial education to generations of people who get themselves into debt people who are using credit way too often you don't know how to save their money and so compared to yesteryear. i have kids just increasingly become financial financially illiterate my feet the financial world has gotten exponentially more complex so it takes a lot more to maneuver through the financial world today than it did in previous generations. certainly my generation growing up and is well credit card debt or credit card has the diamond so easy to use and to get credit and abuse credit without the proper discipline and understanding. so it's created quite a mess in a lot of families and individuals it certainly has and people think that the answers to file bankruptcy i mean that is the one saving grace as opposed to how to get out of your debts but then you're stuck for seven years until that bankruptcy clears and then he can build your financial foundation once again but during that time you're really stuck him that can prevent you from getting jobs that can prevent you from the opening accounts your life is really put on pas during that time to write this i'm trying to avoid getting in that situation to begin with. it's really important if you are traveling down that slide to work with your cry hers there more than happy to refinance reschedule a pain sometimes even forgive a portion of the day but hiding your head doesn't help that all it just makes things totally worse the thing out a lot of people know what options are available to them so they don't even know what questions to be asking but we have so much focus now on stem science tech engineering and math but it seems like the one piece of math that's missing is that financial literacy in schools about seventeen states require high school financial literacy courses south carolina is not one of them in and it just seems like that is really falling by the wayside as did home economics and and so learning how to cook or order to change a flat tire so the rich do you see that the education system will ever get the message and start implementing financial literacy in schools it would be great if every school had several courses and each night before each grade from or even elementary school up to talk about money at their level but just our coalition has found that even children who have taken financial literacy courses in high school did not score much higher at all the kids who did not but the one factor that seemed to be in power those literacy scores was whether or not the parents talked their kids about money it doesn't mean that they had to have a phd in finance or even be terribly responsible their own money but just talking about money and talking about saving and budgeting and responsible credit card use is invaluable and your values. i actually identified five financial values that everything else kind of rolls into one of them it is she here to understand the difference between wants and needs and it's totally okay to run things but it is critical to know the difference was so saying things like oh i need a new pair of shoes do i really need her she's not i want and that's okay but so playing a gotcha game with your kits and saying look education healthcare food and housing are the basic needs that we have everything else will want and to catch each other and say gotcha media and everybody put a quarter of a jar every time they slip and say i need something that they don't really need and then you do that to use that money when it accumulates to do something fun with the family that's a great idea. it will change after the break we're going to give you some smart steps on how to ensure




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