What Kids Need to Learn about Money Now –The CEE Visionary Awards
Posted by Nancy Phillips on Sun, Dec 18, 2011
In this rapidly changing world, our children need a good foundation in financial life skills more than ever. We want them to feel optimistic about their futures, feel inspired about the opportunities that exist for them, and confident enough to pursue those opportunities. How do we provide our youth the necessary knowledge and tools to feel that confidence? Today I want to address one such organization that is working hard to help make this happen.
For more than 60 years, the Council for Economic Education has been providing K-12 economic and personal finance education programs for teachers and students. Each year, the Council's programs reach more than 150,000 K-12 teachers and over 15 million students in the United States and in more than 30 other countries.
Recently, the CEE held their awards banquet and had the award recipients discuss what they felt were some of the key factors regarding financial literacy in the future.
Here are a few points the 2011 Honorees highlighted when asked,
“What do we need to do to advance financial literacy in America”
Maria Bartiromo – Anchor of CNBC’s "Closing Bell with Maria Bartiromo" and host and managing editor of the nationally syndicated "Wall Street Journal Report with Maria Bartiromo"
*Teach teachers
*Adults need to feel comfortable discussing the topic and not embarrassed
*Children need to see the basics at a young age
For example, when Mary was young and asked her mom for an ice cream cone, the answer was, “well, you can have one, but how will you pay for it?”
Henry Kaufman – President of Henry Kaufman & Company, world renowned economist and author
*Parents need to hold children accountable, something that has become very difficult in the “land of many choices.”
*It is easier to acquiesce rather than to say “no.”
*It has become even more important to teach young children about choices.
Harold Burson – Founder and Chairman of Burson-Marsteller public relations firm
*Basic economic education would prevent people signing mortgages and creating credit card debt they can’t pay.
*Get the message to parents
*Parents need to put pressure on the school system.
The economy today demonstrates how important is that we teach our children financial life skills for their future well-being. What could you do differently tomorrow that would help your child become more financially literate?
Click here to view the full 3 minute awards video.
Click here for more information on the Council for Economic Education.