FROM
FROM GOOD
FROM GOOD MANNERS TO STAYING SAFE. THERE'S A VARIETY OF LIFE
SKILLS KIDS NEED TO LEARN.
FINANCIAL LITERACY IS ANOTHER
BIG ONE THAT CAN GET OVERLOOKED
IF YOU DON'T KNOW WHERE TO
BEGIN. OUR NEXT GUESTS CAN HELP
YOU START I DON'T THINK THERE
IS A TOO YOUNG TO BE HONEST
WITH YOU. I MEAN YOU HAVE
CHILDREN 2 3 YEARS OLD THAT
ALREADY DISTINGUISHING BETWEEN
SHAPES AND COLORS AND THINGS OF
THAT NATURE YOU CAN THROW MONEY
INTO THAT YOU CAN SHOW THEM
THE DIFFERENCE BETWEEN A
QUARTER AND A DIME JUST IN THIS
IN THEIR SIZES. THAT WAY THEY
CAN START BEING COMFORTABLE
WITH THE IDEA OF WHAT MONEY IS
AND WHY DO YOU THINK PARENTS
DON'T REALLY BRING IT UP AND
TALK TO THEIR KIDS ABOUT IT.
WELL I THINK A LOT OF THAT HAS
TO DO WITH WHETHER OR NOT
THE PARENTS THEMSELVES HAVE
THAT FORMAL EDUCATION OR EVEN
ANY EDUCATION WITH REGARD TO
FINANCIAL LITERACY. A LOT OF
TIMES YOU JUST GROW UP SEEING
WHAT YOUR PARENTS DID AND MAYBE
THEY WERE GREAT MONEY MANAGERS
MAYBE THEY WEREN'T. AND AND
THEN YOU WANT TO SHOW YOUR KIDS
YOU WANT THEM TO BE MONEY SAVVY
AND NOW THEY'RE ASKING YOU KNOW
WILL YOU HAVE MONEY WHY DON'T
YOU JUST PAY FOR IT. YOU KNOW
THAT THOSE KINDS OF THINGS AND
YOU REALIZE I PROBABLY BROUGHT
THIS UP A LOT SOONER AND
BRINGING IT UP SOONER. STUDIES
SHOW THAT KIDS DEVELOP MONEY
HABITS BY AGE 7. YES THAT AND
THAT IS VERY TRUE. I MEAN THEY
ALREADY KNOW THAT WHEN YOU GO
TO A STORE YOU'RE GOING TO PULL
OUT A CREDIT CARD OR YOU'RE
GOING TO PULL OUT CASH TO PAY
FOR WHATEVER IT IS THAT YOU'RE
BUYING WHETHER IT'S GROCERIES
OR SOMETHING FUN LIKE VIDEO
GAMES OR A TELEVISION OR
WHATEVER IT MAY BE. THEY SEE
THAT THEY WATCH YOU THEIR
LITTLE EYES ARE ALWAYS
WATCHING. SO THEY UNDERSTAND
THAT YOU'RE EXCHANGING
SOMETHING FOR SOMETHING THAT
YOU WANT IN YOUR EXPERIENCE
WORKING WITH MEMBERS WORKING
WITH KIDS. MONEY CAN BE FUN. IT
CAN BE IT REALLY CAN. I TRY TO
DO SOME FINANCIAL LITERACY A
FEW TIMES A YEAR WITH
THE SMALLER CHILDREN MOSTLY
KINDERGARTNERS AND WE HAVE A
BLAST. WE TRY TO EXPLAIN
THE DIFFERENCE BETWEEN WANTS
AND NEEDS FOR FIVE YEAR OLDS.
RIGHT AND THEY GET IT. THEY
TOTALLY GET THAT. I WANT THAT
CANDY BUT I REALLY NEED TO EAT
SOME CARROTS. THEY UNDERSTAND
THAT YOU KNOW BECAUSE WE AS
PARENTS OR THEIR PARENTS
INSTILL THAT IN THEM THIS IS
WHAT YOU NEED TO DO SO YOU'RE
HEALTHY? BUT THAT'S WHAT YOU
WANT? THAT'S NOT QUITE AS
HEALTHY. SO WHAT CAN PARENTS DO
TODAY TO GET THEIR KIDS ON
TRACK. WELL I THINK THAT THAT
REALLY SIMPLE THINGS ARE ARE
KEY? SO HAVE THEM START SAVING
MONEY BUT DON'T DO IT IN A
PIGGY BANK BECAUSE THEY CAN'T
SEE IT DO LIKE A CLEAR JAR AND
THEN EVERY SO OFTEN POINTED OUT
TO THEM HEY LOOK AT YOUR JAR.
THE MONEY IS GROWING. DID YOU
SEE THAT THERE'S THREE MORE
QUARTERS IN THERE. DID YOU SEE
THERE'S A DOLLAR BILL. REMEMBER
WE PUT THAT IN THERE AND WHY.
CLEAR JAR. I MEAN IS IT JUST TO
PHYSICALLY SEE THE VISION YES
VISUAL. YES. YOU SET GOALS AND
USUALLY I MEAN ME PERSONALLY
AND I THINK AS HUMAN BEINGS WE
ONLY SEE OUR ACCOMPLISHMENTS
WHEN WE CAN ACTUALLY SEE THEM.
RIGHT. SO WHEN THERE IS
TANGIBLE PROGRESS THAT IS WHEN
WE GET EXCITED ABOUT IT AND WE
HAVE THAT MOTIVATION TO
CONTINUE. SO IF YOU HAVE A
CLEAR JAR OR CLEAR PIGGY BANK
IF YOU WANT IT TO BE A PIGGY
BANK THAT SHOWS THEM HEY MY
MONEY IS GROWING AND I WANT TO
FILL THAT UP IT GIVES THEM
MOTIVATION TO WANT TO FILL THAT
UP. SET A GOAL FOR THEM. YOU
WANT YOU WANT A NEW BASKETBALL.
HOW ARE THEY GOING TO GAIN THAT
MONEY. HOW ARE THEY GOING. HOW
ARE THEY GOING TO BE ABLE TO
RECEIVE THAT. SO ARE THEY GOING
TO HAVE AN ALLOWANCE? SO THOSE
ARE ALL THINGS THAT WE SHOULD
START DOING AS PARENTS AS EARLY
AS WE POSSIBLY CAN. JUST SO
THAT THEY CAN UNDERSTAND THAT
EVERYTHING COSTS YOU HAVE TO
EARN MONEY. RIGHT. MONEY IS
EARNED IT'S NOT JUST GIVEN
RIGHT DAD GIVES FINANCIAL
LITERACY PRESENTATIONS TO KIDS
OF ALL AGES. SHE VOLUNTEERS
WITH JUNIOR ACHIEVEMENT AND YOU
CAN GET MORE INFO ON
THE PROGRAM THROUGH THAT WEB
SITE YOU SEE THERE ON YOUR
SCREEN AND ANDREW ONE TIP THAT
SHE DID SHARE THAT I WASN'T
ABLE TO INCLUDE WAS THAT IF YOU
WANT TO GIVE YOUR KIDS AN
ALLOWANCE BY AGE 7 AGE 8 THAT'S
A PRETTY GOOD TIME TO START
THAT PROCESS. YEAH. AND YOU
KNOW THAT THAT COULD BE THAT
TIME WHERE KIDS COULD START
DOING THOSE CHORES AROUND
THE HOUSE A LITTLE BIT MORE AND
EARNING THAT MONEY OVER TIME I
GUESS TOO. SO AND HERE'S
THE THING MY PARENTS NEVER GAVE
ME AN ALLOWANCE AND SO I FEEL
LIKE I GOT BAMBOOZLED. I DID
CHORES FOR FREE. I WAS PRETTY
MUCH THE SAME WAY BUT I DID GET
PAID TO MOW THE LAWN. THEY SO I
WOULD DO ALL THE YARD WORK AND
THEN I WOULD GET I GUESS YOU