Comments on: Making Financial Literacy Compelling to a Wide Audience http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/ Simple, applicable personal finance advice for the modern world Fri, 10 Feb 2012 08:34:37 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Patrick http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-662934 Patrick Fri, 15 May 2009 03:11:24 +0000 http://www.thesimpledollar.com/?p=3531#comment-662934 One other idea about CFL lightbulbs - in many towns the local electric utility will donate these and/or help sponsor something like this (particularly if your utility is a Co-op), the less energy they have to provide for you is less they have to generate/purchase on the market. One other idea about CFL lightbulbs – in many towns the local electric utility will donate these and/or help sponsor something like this (particularly if your utility is a Co-op), the less energy they have to provide for you is less they have to generate/purchase on the market.

]]> By: Tammy http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-660323 Tammy Tue, 12 May 2009 16:02:59 +0000 http://www.thesimpledollar.com/?p=3531#comment-660323 My son just completed a Personal Finance class at the community college he attends in Texas. I required that he take the course and I paid for the class. He learned a lot! My son just completed a Personal Finance class at the community college he attends in Texas. I required that he take the course and I paid for the class.

He learned a lot!

]]> By: Charlotte http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-659555 Charlotte Mon, 11 May 2009 21:52:55 +0000 http://www.thesimpledollar.com/?p=3531#comment-659555 Have a one-time seminar with free food. Give a broad introduction to the idea of handling money. Have those who are interested sign up for a short series of classes. Keep it basic with daily living information. From that group, give another short series on something more indepth. For a group that is primarily from low-income families, investing may be way past their point of reference. You've got to start at their level. Otherwise, it will be like trying to teach someone to make a souffle when they can't even boil water yet. Also, ask the students what they want and how much time they can afford for extra classes. They may have school and jobs and families. No matter how much they would like to attend long classes, they might not be able to do so. Do a short survey in several classes to find the best way to proceed. Have a one-time seminar with free food. Give a broad introduction to the idea of handling money. Have those who are interested sign up for a short series of classes. Keep it basic with daily living information. From that group, give another short series on something more indepth. For a group that is primarily from low-income families, investing may be way past their point of reference. You’ve got to start at their level. Otherwise, it will be like trying to teach someone to make a souffle when they can’t even boil water yet.

Also, ask the students what they want and how much time they can afford for extra classes. They may have school and jobs and families. No matter how much they would like to attend long classes, they might not be able to do so. Do a short survey in several classes to find the best way to proceed.

]]> By: Bill in Houston http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-659478 Bill in Houston Mon, 11 May 2009 20:15:26 +0000 http://www.thesimpledollar.com/?p=3531#comment-659478 This isn't bad at all. I do like the idea of incentives to get the kids in there. Use the same tactics the credit card companies do. Instead of the ubiquitous frisbee or a t-shirt how about a cheap little three dollar solar calculator? If this is a class, many of Trent's suggestions will help to keep their attention. Yes, do get them involved. I also like Charlotte's idea of using examples from the Millionaire Next Door. The problem with college kids today is that they're very impressionable. Limbaugh calls them "young skulls full of mush." (Political comments aside, please.) It is an apt description. Compare to 100 years ago when their great grandparents were marrying, raising families, working on the farm or in a factory and lacked the diversion of today's society. Students see the bling and the lifestyles of sports figures and fall into that trap early. It continues on as they get older and have to get the nicer car, bigger house, and the trappings of wealth without the means to maintain it. Showing that living a more frugal lifestyle can lead to financial happiness can lead to happier persons in the future. Also, if this is a class and not just a seminar, giving the students "life projects" will impress some of the ideas of financial responsibility into them. Try things like, "How much did dinner cost" or "How much does this car cost to operate" or "Is this phone worth it" projects. Use worksheets and examples in it to get them motivated to do it on their own. After living a lifestyle of at or above my means for a lot of 48 years, it took a good size jolt to get me serious about financial freedom and true happiness. This isn’t bad at all. I do like the idea of incentives to get the kids in there. Use the same tactics the credit card companies do. Instead of the ubiquitous frisbee or a t-shirt how about a cheap little three dollar solar calculator?

If this is a class, many of Trent’s suggestions will help to keep their attention. Yes, do get them involved.

I also like Charlotte’s idea of using examples from the Millionaire Next Door. The problem with college kids today is that they’re very impressionable. Limbaugh calls them “young skulls full of mush.” (Political comments aside, please.) It is an apt description. Compare to 100 years ago when their great grandparents were marrying, raising families, working on the farm or in a factory and lacked the diversion of today’s society. Students see the bling and the lifestyles of sports figures and fall into that trap early. It continues on as they get older and have to get the nicer car, bigger house, and the trappings of wealth without the means to maintain it. Showing that living a more frugal lifestyle can lead to financial happiness can lead to happier persons in the future.

Also, if this is a class and not just a seminar, giving the students “life projects” will impress some of the ideas of financial responsibility into them. Try things like, “How much did dinner cost” or “How much does this car cost to operate” or “Is this phone worth it” projects. Use worksheets and examples in it to get them motivated to do it on their own.

After living a lifestyle of at or above my means for a lot of 48 years, it took a good size jolt to get me serious about financial freedom and true happiness.

]]> By: ub http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-659465 ub Mon, 11 May 2009 20:04:38 +0000 http://www.thesimpledollar.com/?p=3531#comment-659465 @Jade I whole-heartedly agree. I attended sooo many stupid seminars/meetings for things I was barely even remotely interested in (and ended up doing one of them 30 hours a week for 4 years of college) based solely on the promise of free pizza. Make it free beer and you'll have more demand than you'll know what to do with. @Jade
I whole-heartedly agree. I attended sooo many stupid seminars/meetings for things I was barely even remotely interested in (and ended up doing one of them 30 hours a week for 4 years of college) based solely on the promise of free pizza.

Make it free beer and you’ll have more demand than you’ll know what to do with.

]]> By: Beverly http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-659428 Beverly Mon, 11 May 2009 19:17:04 +0000 http://www.thesimpledollar.com/?p=3531#comment-659428 I had another reply earlier that somehow didn't get posted. You all have really missed the boat in terms of who the students here are. These are not middle class achievers who come from families where Dad is able to teach how money is made and where it goes. They come from poverty, they have GEDs, and they have no role models for success, financial or otherwise. You have to take a different approach in terms of content here. But I absolutely agree that a course like this should be mandatory for anyone who take out a student loan. I had another reply earlier that somehow didn’t get posted. You all have really missed the boat in terms of who the students here are. These are not middle class achievers who come from families where Dad is able to teach how money is made and where it goes. They come from poverty, they have GEDs, and they have no role models for success, financial or otherwise. You have to take a different approach in terms of content here. But I absolutely agree that a course like this should be mandatory for anyone who take out a student loan.

]]> By: Andrea http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-659334 Andrea Mon, 11 May 2009 16:40:46 +0000 http://www.thesimpledollar.com/?p=3531#comment-659334 I teach adults returning to college, many of them single parents and low-income, and I think your recommendations are spot-on. Most students will not add to their tuition bill taking what they view as unnecessary classes. They are trying to complete their degrees in as few semesters as possible, and most enter college with the goal of "having that piece of paper." If Maggie's students are anything like mine, they are products of a poor school system that taught them by rote, and never awoke in them any kind of intellectual curiosity--if anything, their schooling has stifled it. Making workshops practical is important. I would be careful of the "$30 in your pocket" argument, however--make clear that there will be a slight reduction in every month's bill worth $30 overall, not a $30 drop in every month's bill. Other than that, being practical and hands-on is a VERY good tactic; add on things such as "how you can do this and still work full time AND handle your kids AND go to school"--mix active and passive savings, and always acknowledge your students' situations and their expertise. I teach adults returning to college, many of them single parents and low-income, and I think your recommendations are spot-on. Most students will not add to their tuition bill taking what they view as unnecessary classes. They are trying to complete their degrees in as few semesters as possible, and most enter college with the goal of “having that piece of paper.” If Maggie’s students are anything like mine, they are products of a poor school system that taught them by rote, and never awoke in them any kind of intellectual curiosity–if anything, their schooling has stifled it.

Making workshops practical is important. I would be careful of the “$30 in your pocket” argument, however–make clear that there will be a slight reduction in every month’s bill worth $30 overall, not a $30 drop in every month’s bill. Other than that, being practical and hands-on is a VERY good tactic; add on things such as “how you can do this and still work full time AND handle your kids AND go to school”–mix active and passive savings, and always acknowledge your students’ situations and their expertise.

]]> By: Margaret http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-659283 Margaret Mon, 11 May 2009 15:19:49 +0000 http://www.thesimpledollar.com/?p=3531#comment-659283 You know that chart that shows an 18 yr old who invests $100 a month for ten years will end up with more money than a 28 year old who starts invested $100 a month for the rest of his life? Use something like that as a hook -- "Joe is 28 and in his life he invests $45000 into his RRSP. He ends up with $200,000. Jane is 18 and in her life invests $12000 into her RRSP. She ends up with $500,000. Come to our seminar and find out WHY!" If you develop a series of workshops/lectures, can you offer it twice -- a fall run and a spring run? If you are going to do lectures, can you make the PROFESSORS announce it in each of their classes at the beginning of the semester? Comment 9 -- I bet your teacher was dealing with credit card debt and he was hoping to help you. If you have ever been in big debt, I bet you want to tell young people "DON'T FALL INTO THE TRAP!" You know that chart that shows an 18 yr old who invests $100 a month for ten years will end up with more money than a 28 year old who starts invested $100 a month for the rest of his life? Use something like that as a hook — “Joe is 28 and in his life he invests $45000 into his RRSP. He ends up with $200,000. Jane is 18 and in her life invests $12000 into her RRSP. She ends up with $500,000. Come to our seminar and find out WHY!”

If you develop a series of workshops/lectures, can you offer it twice — a fall run and a spring run? If you are going to do lectures, can you make the PROFESSORS announce it in each of their classes at the beginning of the semester?

Comment 9 — I bet your teacher was dealing with credit card debt and he was hoping to help you. If you have ever been in big debt, I bet you want to tell young people “DON’T FALL INTO THE TRAP!”

]]> By: Charlotte http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-659279 Charlotte Mon, 11 May 2009 15:03:49 +0000 http://www.thesimpledollar.com/?p=3531#comment-659279 Food: Free food or food for a minimal charge gets me to events -- even though I'm now retired and financially comfortable. Goody Bags: Get sponsors for goody bags that contain products that clearly identify the store and have the sponsors agree to honor money-off coupons. Door Prizes: Give out tickets for the next event for nice door prizes from the sponsors, requiring people to be present to win. Teaching Materials: Trent's book is a good start -- and free -- but I'd also include material from "The Millionaire Next Door." The book teaches good ways of how living below one's means is key and that the flashy car, big house, and material possessions don't necessarily show who has what. Odds are that they have seen "the American dream" only on TV and don't know that it is within his/her grasp -- but not from get-rich-quick schemes. And again -- food. Food: Free food or food for a minimal charge gets me to events — even though I’m now retired and financially comfortable.

Goody Bags: Get sponsors for goody bags that contain products that clearly identify the store and have the sponsors agree to honor money-off coupons.

Door Prizes: Give out tickets for the next event for nice door prizes from the sponsors, requiring people to be present to win.

Teaching Materials: Trent’s book is a good start — and free — but I’d also include material from “The Millionaire Next Door.” The book teaches good ways of how living below one’s means is key and that the flashy car, big house, and material possessions don’t necessarily show who has what. Odds are that they have seen “the American dream” only on TV and don’t know that it is within his/her grasp — but not from get-rich-quick schemes.

And again — food.

]]> By: Dave Campbell http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-659232 Dave Campbell Mon, 11 May 2009 13:59:30 +0000 http://www.thesimpledollar.com/?p=3531#comment-659232 She should think about videotaping the sessions and post the videos on the school's website and/or YouTube. That way if anyone misses a lecture, it can be easily caught up. Also, consider making a site on the school's website to tie everything together. Maybe make it like a wiki so they can have an ongoing conversation about topics, encourage each other, etc. And I also like the idea of using your book in the course. :) She should think about videotaping the sessions and post the videos on the school’s website and/or YouTube. That way if anyone misses a lecture, it can be easily caught up.

Also, consider making a site on the school’s website to tie everything together. Maybe make it like a wiki so they can have an ongoing conversation about topics, encourage each other, etc.

And I also like the idea of using your book in the course. :)

]]> By: Terri http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-659231 Terri Mon, 11 May 2009 13:59:16 +0000 http://www.thesimpledollar.com/?p=3531#comment-659231 A very popular program in colleges/universities across the country that 'Maggie' should check out is the "First Year Experience (FYE)". It goes by different names at different universities--for example, the one that I taught was called "Gateway to College". It's usually run by the Freshman Programs office and although not required, is highly recommended to incoming freshman. Why? Simply put, it reduces dropouts. While there are other life-skills topics included in the courses (like how to prepare for a career in a chosen field), financial literacy is one of them. At the university where I was, a very popular seminar included in the course was on revolving credit. So many students didn't understand how signing up for a credit card in exchange for a free t-shirt, could end up ruining their credit. There are grants available for programs like these, so 'Maggie' could most likely get some additional funding to provide freebies for the students. Best of luck to Maggie--it's a very good thing that she's doing. -Terri saltedpeanutmail@yahoo.com A very popular program in colleges/universities across the country that ‘Maggie’ should check out is the “First Year Experience (FYE)”. It goes by different names at different universities–for example, the one that I taught was called “Gateway to College”. It’s usually run by the Freshman Programs office and although not required, is highly recommended to incoming freshman. Why? Simply put, it reduces dropouts. While there are other life-skills topics included in the courses (like how to prepare for a career in a chosen field), financial literacy is one of them. At the university where I was, a very popular seminar included in the course was on revolving credit. So many students didn’t understand how signing up for a credit card in exchange for a free t-shirt, could end up ruining their credit.

There are grants available for programs like these, so ‘Maggie’ could most likely get some additional funding to provide freebies for the students.

Best of luck to Maggie–it’s a very good thing that she’s doing.

-Terri
saltedpeanutmail@yahoo.com

]]> By: GayleRN http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-659218 GayleRN Mon, 11 May 2009 13:24:05 +0000 http://www.thesimpledollar.com/?p=3531#comment-659218 Ummm I hate to point out the obvious Trent, but they could base a class on your downloadable free book,Everything you ever really needed to know about personal finance on just one page. That's what I would do. Ummm I hate to point out the obvious Trent, but they could base a class on your downloadable free book,Everything you ever really needed to know about personal finance on just one page. That’s what I would do.

]]> By: Kristin @ klingtocash http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-659200 Kristin @ klingtocash Mon, 11 May 2009 12:52:00 +0000 http://www.thesimpledollar.com/?p=3531#comment-659200 I think college students should be required to take a financial literacy course (maybe instead of some of the other crap they are required to take). I teach managerial accounting and most of my students were shocked to hear that I had a budget for Christmas gifts and saved the money all year long so I could pay cash for those gifts. Only one of my 65+ students last semester had ever heard of a Christmas club. I also think that when provided with the option, lots of college students would take a course like that. I have a lot of students interested in learning more about personal finance and career stuff but we just don't have time to cover it in my class. I think college students should be required to take a financial literacy course (maybe instead of some of the other crap they are required to take). I teach managerial accounting and most of my students were shocked to hear that I had a budget for Christmas gifts and saved the money all year long so I could pay cash for those gifts. Only one of my 65+ students last semester had ever heard of a Christmas club.

I also think that when provided with the option, lots of college students would take a course like that. I have a lot of students interested in learning more about personal finance and career stuff but we just don’t have time to cover it in my class.

]]> By: Jade http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-658987 Jade Mon, 11 May 2009 05:34:47 +0000 http://www.thesimpledollar.com/?p=3531#comment-658987 The thing that really brought people to any event when I was in college can be summed up with two words: free food, or a variation of this: free pizza. Unfortunately I usually found, especially in community college, that people showed up for the food and ignored the rest of the event, so that might not be the greatest idea... A semester long course in financial literacy should be required, but I also don't think we should neglect basic micro and macro econ courses. You don't have to study a lot of econ to see what was going on with the housing bubble and that banking on home equity wasn't such a bright idea... The thing that really brought people to any event when I was in college can be summed up with two words: free food, or a variation of this: free pizza. Unfortunately I usually found, especially in community college, that people showed up for the food and ignored the rest of the event, so that might not be the greatest idea…

A semester long course in financial literacy should be required, but I also don’t think we should neglect basic micro and macro econ courses. You don’t have to study a lot of econ to see what was going on with the housing bubble and that banking on home equity wasn’t such a bright idea…

]]> By: Michael Harr @ Wealth...Uncomplicated http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-658937 Michael Harr @ Wealth...Uncomplicated Mon, 11 May 2009 03:45:04 +0000 http://www.thesimpledollar.com/?p=3531#comment-658937 @George - CFLs are AWESOME!!! @Trent - financial literacy comes through stages with the first being awareness. With all of the new and free personal finance sites out there, the first step I'd take is walking a room full of students through a site like Mint, Thrive, etc. so they can have a place to view all of their money/debt. These sites aren't where I want them to be yet, but over time, they will develop into a kind of literacy on demand solution. In talking with Thrive's founders, I think they might be a best fit for 'Maggie' as they are focused on fighting poverty and their web app is a little further along than Mint or Wesabe in the personal financial planning realm. @George – CFLs are AWESOME!!!

@Trent – financial literacy comes through stages with the first being awareness. With all of the new and free personal finance sites out there, the first step I’d take is walking a room full of students through a site like Mint, Thrive, etc. so they can have a place to view all of their money/debt. These sites aren’t where I want them to be yet, but over time, they will develop into a kind of literacy on demand solution. In talking with Thrive’s founders, I think they might be a best fit for ‘Maggie’ as they are focused on fighting poverty and their web app is a little further along than Mint or Wesabe in the personal financial planning realm.

]]> By: Jamie http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-658835 Jamie Mon, 11 May 2009 01:13:05 +0000 http://www.thesimpledollar.com/?p=3531#comment-658835 Maggie, I am not sure if you have course materials for your classes or not, but there are some great resources available at www.yourmoneycounts.com. The site is sponsored by HSBC, a large bank. The material there, though, is general in nature and does NOT promote the bank. There are several topics from which to choose. You have to register as an educator, but it is free and the materials are very well written. Good luck with your undertaking! Jamie Maggie,

I am not sure if you have course materials for your classes or not, but there are some great resources available at http://www.yourmoneycounts.com. The site is sponsored by HSBC, a large bank. The material there, though, is general in nature and does NOT promote the bank. There are several topics from which to choose. You have to register as an educator, but it is free and the materials are very well written.

Good luck with your undertaking!

Jamie

]]> By: Masked Financier http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-658609 Masked Financier Sun, 10 May 2009 22:33:59 +0000 http://www.thesimpledollar.com/?p=3531#comment-658609 This is an excellent post, and the logic really applies to any subject that is taught in schools and colleges. Let's face it, most people don't find school particularly engaging. I always thought that if someone could make the history syllabus into a rap song people's results might be much better! Anyway, I've been developing my own method for teaching investing literacy - Texas Holdem Investing - and I think it ticks alot of the boxes that Trent mentions in this post. I thought it would be a good exercise to go through the Texas Holdem Investing concept through the lense of this article: Getting People's Attention Poker is a pasttime that lots of people know about and enjoy. I think it is attention grabbing to show people how this pasttime can help teach the concepts of good investing. The hook is showing people that playing poker can help teach investing. On the issue of letting lots of people knowing about it, well I'm trying to spread the gospel on my site! Keeping their Attention Poker by itself has the ability to keep the attention of those playing so this does solve the problem to a certain degree. By eventually getting people to put their money at risk it makes the interaction of the player very tangible, particularly when losses are suffered. Texas Holdem Investing gets the people learning to invest involved through playing poker and putting money at risk rather than reading books and looking at charts. And focussing on the big points of investing is one of the key elements of Texas Holdem Investing. Learning to invest through playing poker focusses on the big point of mastering your emotional skills in the environment of putting money at risk. This is one of the major elements of learning to invest effectively. Sending the Message Home Texas Holdem Investing gives the students the ability to take home poker as a method of continuously learning and improving. I hope that Trent and the other readers can take some time to think about my approach to making teaching investing a little more exciting! This is an excellent post, and the logic really applies to any subject that is taught in schools and colleges.
Let’s face it, most people don’t find school particularly engaging. I always thought that if someone could make the history syllabus into a rap song people’s results might be much better!

Anyway, I’ve been developing my own method for teaching investing literacy – Texas Holdem Investing – and I think it ticks alot of the boxes that Trent mentions in this post.
I thought it would be a good exercise to go through the Texas Holdem Investing concept through the lense of this article:

Getting People’s Attention
Poker is a pasttime that lots of people know about and enjoy. I think it is attention grabbing to show people how this pasttime can help teach the concepts of good investing.
The hook is showing people that playing poker can help teach investing. On the issue of letting lots of people knowing about it, well I’m trying to spread the gospel on my site!

Keeping their Attention
Poker by itself has the ability to keep the attention of those playing so this does solve the problem to a certain degree.
By eventually getting people to put their money at risk it makes the interaction of the player very tangible, particularly when losses are suffered.
Texas Holdem Investing gets the people learning to invest involved through playing poker and putting money at risk rather than reading books and looking at charts.
And focussing on the big points of investing is one of the key elements of Texas Holdem Investing. Learning to invest through playing poker focusses on the big point of mastering your emotional skills in the environment of putting money at risk. This is one of the major elements of learning to invest effectively.

Sending the Message Home
Texas Holdem Investing gives the students the ability to take home poker as a method of continuously learning and improving.

I hope that Trent and the other readers can take some time to think about my approach to making teaching investing a little more exciting!

]]> By: *sara* http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-658581 *sara* Sun, 10 May 2009 22:15:53 +0000 http://www.thesimpledollar.com/?p=3531#comment-658581 oooh, great idea! I want to come to your class! oooh, great idea! I want to come to your class!

]]> By: Stephan F- http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-658527 Stephan F- Sun, 10 May 2009 21:51:34 +0000 http://www.thesimpledollar.com/?p=3531#comment-658527 Actually a full course would be great but I don't think it should be limited to just basic financial literacy. While I got a 4 year degree I know I would have preferred a good class on financial literacy rather then the macroeconomics course that I was required to take for general education requirements. My Dad did a good job teaching me how to use checking and savings account and even a credit card. Also things like how to negotiate pay and benefits and worker's rights. The differences of stocks, bonds and Roth IRAs, 401(K)s and the like. Right now, I would have preferred something that touched on some of the history and major people & theories of economics:Adam Smith, Marx, von Mises, and Keynes. and how they fit into the current political environment. And how to set up and run a side business. I bet a lot of those people will end up with some kind of business even it it is just girl scout cookies once a year. Actually a full course would be great but I don’t think it should be limited to just basic financial literacy.

While I got a 4 year degree I know I would have preferred a good class on financial literacy rather then the macroeconomics course that I was required to take for general education requirements.

My Dad did a good job teaching me how to use checking and savings account and even a credit card.
Also things like how to negotiate pay and benefits and worker’s rights.
The differences of stocks, bonds and Roth IRAs, 401(K)s and the like.

Right now, I would have preferred something that touched on some of the history and major people & theories of economics:Adam Smith, Marx, von Mises, and Keynes. and how they fit into the current political environment.

And how to set up and run a side business. I bet a lot of those people will end up with some kind of business even it it is just girl scout cookies once a year.

]]> By: Beverly http://www.thesimpledollar.com/2009/05/10/making-financial-literacy-compelling-to-a-wide-audience/comment-page-1/#comment-658375 Beverly Sun, 10 May 2009 18:37:58 +0000 http://www.thesimpledollar.com/?p=3531#comment-658375 You have to understand that not everyone who ends up at a community college even attended high school. If they went to an alternative school or got their GED in jail, they can take other classes at the community college until they can take courses for credit. These are people literally trying to pull themselves out of the mire of poverty and illiteracy. I like Johanna's idea of incorporating the message in various course work but that takes a concerted effort systemwide. I really like Kris's idea that if you take out a student loan you have to take the course. You have to understand that not everyone who ends up at a community college even attended high school. If they went to an alternative school or got their GED in jail, they can take other classes at the community college until they can take courses for credit. These are people literally trying to pull themselves out of the mire of poverty and illiteracy. I like Johanna’s idea of incorporating the message in various course work but that takes a concerted effort systemwide. I really like Kris’s idea that if you take out a student loan you have to take the course.

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