Does Financial Education That Works Already Exist?
I received this message a couple days ago on Facebook.
Hi, Sam! How are you? I hope life is kind to you and your family. Wanted to share a story. My two kids are now 19 and 16. I am very proud of how mindful they are about money. I asked them why they think they are so careful with finances and my daughter said, “Sammy the Rabbit! Everyday, going to elementary school, you played his CDs for us. Saving, spending, investing....we hear his message every day. And it made a difference!” So, want to give you credit. You taught my babies and they still remember all your songs...
Think about this - financial education that works took place in a car. Financial education that works used music, not math. Financial education that works was easy to implement. It was time and cost effective.
A mom played music in a car. She repeated the process regularly. It brought knowledge and joy to her children. It helped produce a positive outcome and lasting memories whose benefits transcend financial literacy.
It is a story we have heard repeatedly to varying degrees over the last two decades.
The mom in the video below shares the start of a similar trajectory for her two children and the compound impact Sammy Rabbit songs, stories and strategies are having within her household.
The community leaders in the video below report their experience and outcomes.
See and read more reports below on financial education that works, including 2007 and 2008 research from the University of Maryland Cooperative Extension.
Repeat and Predictable Effectiveness
Creating resources, programs, and strategies that are easy for anyone to use that produce repeat and predictable effectiveness takes time, experience, imagination and testing - lots of testing - and ... a variety of other tangibles and intangibles.
Scaling Impact
The next time you visit a bank, credit union, school, or community agency, or read an article about financial literacy education, ask them:
(1) Are you using Sammy Rabbit stories and songs as a part of your financial education efforts?
(2) Have you experienced the song Get in the Habit?
(3) Are you aware of the impact the song has on kids, families and classrooms, frequently in less than 10 minutes?
(4) What are you using that is more effective and infectious ... that is easy to use... time and cost efficient... that produces repeat and predictable outcomes... in a variety of settings... across demographics?
What Breaks My Heart
It saddens me every time I read or hear a story or social media post suggesting or implying the reason far to many kids (and families) are financially illiterate is because of this or that, including the lack of financial education in schools.
This thinking and information is incalculably disempowering.
Would it or other suggestions help? Let's be optimistic and say absolutely!
But it is not what is preventing families from starting the process of becoming financially literate today.
And that is what breaks my heart.
Ten more years may pass, and with it another decade's worth of children, families and communities who are not opening doors within their reach to bring more financial stability and freedom into their lives, because they are not made aware of the resources and programs that exist today that can transform their lives, the lives of their children and communities.
How You Can Make a Difference
Here is one way you can make a difference and contribute to solving a global financial challenge!
Share this article with parents, teachers and community leaders. Let them know:
(1) Effective financial education exist and has existed for years; and
(2) Financial education has never been easier to access.
Today, all one has to do is CLICK.
It can be done on a cell phone, a table, a laptop. It can be done at home, in a school, in a library, in an office, while standing in line, and yes, it can even be done in a car!
Let's Compound Our Collective Impact through Collaboration!
RELATED READING
Seven Steps to Better Money and Reading Habits for Kids
Advisors Teach Kids to Create a Plan, Delay Spending and Save!
Financial Pros Pick Sammy Rabbit for Kids
Financial literacy is important to my family and me
RELATED VIEWING
Malabar Elementary School in East Los Angeles
The University of Maryland Cooperative Extension
It has been more than a decade since we collaborated on a national award winning research project with the University of Maryland Cooperative Extension called Parents and Teachers As Wealth Coaches.
The project earned the National Extension Association of Family & Consumer Sciences (NEAFCS) Dean Don Felker Financial Management Award...
and
has been cited in an array of articles and reports like:
the Journal of Family and Consumer Sciences column titled: Educator Teams Up to Teach Finance to Young Children; and
Brookings Institution Report titled - Recommendations for Improving Youth Financial Literacy Education.
The Air Force Aid Society
The Weingart East Los Angeles YMCA
GIVE SAMMY RABBIT RESOURCES TO YOUR COMMUNITY
CONTACT SAMMY!
Contact Sammy to learn more about his strategic approach to early age and family financial literacy education.
CLICK to use our website contact form or email us at: contact@SammyRabbit.com