Posts filed under 'Economic education'
June 23rd, 2008
I glanced at the top of the Business Rockford website today and noticed the little tidbit of information which says 45 percent of college students have an average credit card debt of $3,066.
Scary thought.
For someone making $7 an hour at the college book store or $4 an hour plus tips at a local restaurant, a number like that can be quite daunting. Considering the interest rates for those credit cards that college students qualify for are not all that great, the minimum payment could be rather considerable on such a small income.
I’ll be the last person to say that we should teach our youth that all credit cards are bad. Emergencies happen. Books are needed. Sometimes the car needs a repair. But we must teach our youth, and probably even ourselves, the difference between needs and wants. The more you spend your money earlier on wants, the less you will later have for needs.
Kids learn from example. What are you teaching yours?
March 31st, 2008
A pull-out guide to Money Smart Week was published in Sunday’s paper (yesterday). Same size as the Go section, look for Ben Franklin.
Check it out for classes, events, and a listing of local partners.
March 27th, 2008
Did any of you happen to see Ben Franklin walking around the streets of Rockford last weekend? Or at the Ice Hogs game?
Ben was here helping to promote “Money Smart Week.” From April 6-12, the entire Rockford area will be treated to a week of free classes and workshops on financial topics as a part of Illinois’ first-annual Money Smart Week, sponsored by the Federal Reserve Bank of Chicago. Local partners are hosting an impressive number of events for kids, teens, adults, and senior citizens of every financial background.
There are some wonderful workshops being offered for kids and teens:
 Would you like your 4th grader to learn about saving money? Take her to “AMKIDS - The Importance of Saving Money” - April 9, 6:30 pm - 8:00 pm, at Liberty Baptist Church.
Does your high school student need to open a checking account, or start looking for college loans?  The workshop “Teens and Money” will get him started - Thursday, April 10th, two sessions at Ellis Heights United Center.
 Do you have a young artist or scientist in the family? She’ll make some real-world connections with money at ”The Art & Science of Money” - Sunday, April 6 - Friday, April 11, at the Discovery Center Museum.
Visit the website below to access the full calendar of events for Money Smart Week, and to see a listing of local partners.  Take advantage of these opportunities to help your kids become more financially savvy, and don’t forget to look for workshops that you’d like to attend: anyone interested in “Conquering Credit” ?
 http://www.moneysmartweek.org/illinois
March 25th, 2008
Becoming “financially literate” is kind of like learning a second language: it’s something that anyone can accomplish, but it’s best learned at a young age. And, the earlier you are exposed to financial literacy, the more you stand to gain from it.
 Teaching financial literacy to area youth will be one of the main themes of the “Preparing Our Future” blog. Aimed at parents and educators, my blog entries will highlight techniques and opportunities to teach young people about money management skills, entrepreneurship, and work readiness. As Larry Messing mentioned in his first post, young people need to be prepared and inspired to take charge of their future, and financial lessons are key.
 Two of the bloggers, Larry and myself, come from the Rock River Valley chapter of Junior Achievement. Many of our readers may remember the Junior Achievement “Company Program” from their highschool days. Today, JA is a worldwide organization that brings financial literacy programs to children in grades K-12. Locally, each year over 250 JA volunteers reach 5,000 students in over 30 schools in the Rock River Valley.
I look forward to discussing the economic education of our local youth with you, and would like to thank Business Rockford for making it possible. We will be working hard to keep this blog updated and relevant, and I hope that it serves as a useful resource.
