Kids Need Money Mentors

With the level of consumer debt skyrocketing and the cost of housing, education, and health care increasing at double digit rates, younger generations are facing unprecedented challenges to achieving economic security and financial independence.  Therefore, helping our youth to learn effective money management skills, and to adopt good financial habits and attitudes, is more important than ever.

So what can you do if you are worried about the financial future of your children, grandchildren, nieces, and nephews?  The place to start is by considering the positive influence you can have in shaping their financial well-being.  Next, think about and choose specific ways that you can be a proactive Money Mentor in their lives.  Here are suggestions and resources to get you started: (more…)

Teaching Kids Money Survival Skills

teach-kids-money-skillsIn 1988, financial planner and author Venita Van Caspel wrote in her bestselling book Financial Dynamics for the 1990s:

“Our educational system continues to send forth our young with so little information about financial matters that they are like time bombs about to destroy their own and their families’ economic futures. We equip them to earn good incomes and to live the good life, but we fail miserably as a nation to prepare them to know what to do with the money they earn.” (more…)

What is Your Money History?

child-getting-allowanceOur attitudes and beliefs about money have their roots in value-laden messages that we have picked up along life’s journey. These money messages are not only clothed in the words of others, but in their behaviors as well.

To discover the roots of your money attitudes and actions (or inactions!), look first to your childhood experiences. In your home, was there an atmosphere of plenty or scarcity? How did your parents and grandparents treat money? Was money the source of conflict between your parents and/or between generations? Was money a taboo subject or a matter of family discussion and planning? Was money used as a reward? Did the adults in your life demonstrate responsible or irresponsible money management behavior?

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Financial Well-Being Eludes Young Adults

More than two decades ago, financial planner and author Venita Van Caspel wrote:

“Our educational system continues to send forth our young with so little information about financial matters that they are like time bombs about to destroy their own and their families’ economic futures.  We equip them to earn good incomes and to live the good life, but we fail miserably as a nation to prepare them to know what to do with the money they earn.” (more…)

Nurturing Financial Capability

Financial capability is defined as the capacity—based on knowledge, skills, and access—to manage financial resources effectively.

All parents, of course, hope their children will grow up to be financially responsible, savvy, and confident adults.  However, because financial education has rarely been taught at home or in schools, most parents themselves feel ill-equipped to train and guide their children in matters of money.

To respond to this need, the President’s Advisory Council on Financial Capability (PACFC) recommended the development of a program and resources designed to support families and promote financial literacy among our youth. (more…)

Massive Open Online Courses – MOOCs

Huh? “What the heck is MOOCs?” you are asking, I’m sure. Good question.

“A massive open online course (MOOC) is an online course aimed at large-scale interactive participation and open access via the web. In addition to traditional course materials such as videos, readings, and problem sets, MOOCs provide interactive user forums that help build a community for the students, professors, and teaching assistants (TAs). MOOCs are a recent development in distance education.” ~ From Wikipedia. (more…)