Road Map to Financial Literacy
One of the significant tragedies of many narratives on financial literacy is the emphasis on what isn't working, rather than empowering what we know does work.
Below is a roadmap that anyone can follow to impart knowledge and joy in personal finance to kids, starting today.
Who the Road Map Will Help
The road map is perfect for anyone who who wants to:
(1) Take charge of their child or students financial education;
(2) Help children develop the right money mindset, habits, and attitudes from the outset;
(3) Assist kids in building solid financial skills and a strong financial foundation to make informed financial decisions throughout their lives;
(4) Get children on the road to financial freedom, financial security and financial wellness.
(5) Optimize and efficiently use their own time, energy, and money.
(6) Maximize their impact.
Anyone includes: moms, dads, grandparents, teachers, trainers, community leaders or enterprises.
The Challenges for Parents
A few of the big challenges for parents who want their children to avoid debt and experience less anxiety and more financial freedom are:
(1) Parents find it difficult to talk to kids about money. Research* shows the conversation needs to start early - prior to age 7.
(2) Schools offer little financial education.
(3) Lots of financial education does not appeal to or engage children
(4) Kids, essentially from birth, are bombarded with messages to consume and spend.
Research
---AFCPE: … Much of one’s beliefs, habits, and behaviors are shaped by family and other important role models…
---World Economic Form: …Children develop their saving and spending habits by the age of 5…
---Money Advisory Service: …Adult money habits are set by the age of 7…
Road Map to Successful Youth Financial Literacy
How do we know the resources work?
Testing and feedback. See user experiences and feedback below.
User Experiences and Feedback
Here is a sampling of user experiences - Sammy Rabbit Dream Big Financial Education resources.
In Home: Parent Child Experiences
Michael Morton, Dad and Daughter, Harvard, MA
Nick Bradfield: Father and son, Cary, NC
Abby Kovach: Mother and daughter, Denver, CO
In School and After School: Led by Community Leaders
Malabar Elementary School. Rosa Overstreet, Los Angeles, CA
St. John Lutheran School Berlin, Wisconsin, Amy Vetrone, Financial Educator
Walnut Elementary School, Baldwin Park, CA
Huntington Elementary School. Cedric Turner. Empower Yourself, Brockton, MA
Did You See What Marine Veteran Nick Bradfield Did? Cary, NC
Alana Golden, California Department of Financial Institutions, Sacramento, CA
Patrina Dixon and United Way Women's Leadership Council, Hartford, CT
Money Smart 101, Philadelphia, PA
Oklahoma State University, Stillwater, OK
Naval Air Station, Jacksonville, FL
Author Led Experiences
YMCA and East Los Angeles College, Los Angeles, CA
Peterson Air Force Base, Colorado Springs, CO
Air Force Aid Society, Arlington, VA
El Monte Promise Foundation, El Monte, CA
University of Maryland Cooperative Extension, Salisbury, MD
Media Reviews
Fox: Good Day Columbus: Krista Cavalieri
Financial Advisor Magazine: Children Form Financial Behaviors By 7
Kiplinger: Janet Bodnar, Editor. Kids and Money Author
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