Lauren Barack from School Library Journal interviewed me last week regarding the program we created this year for the Chicago Public Schools (CPS) through the Department of Libraries and Information Services.  The program involved librarians at nearly 200 CPS schools who voluntarily signed up to teach around 97,000 kids in grades K - 8 about the choices they have for money - and the response was just simply fantastic!  But this program is just the beginning.   Click here to read more.

Last week, Delaware Representative Mike Castle (R.) presented the Financial Education in the Classroom Act (FECA) - new legislation that seeks to improve financial literacy for all students in grades K - 12 by creating a competitive grant program for states who demonstrate a commitment to bringing financial literacy education to their schools.  Bravo Representative Castle!

Click here to read more about this legislation.

To read the full Bill (H.R. 5165) presented to the House of Representatives which was referred to the Committee on Education and Labor, click here.

I received a message from a mom this week asking at what age she should start talking to her own kids about money.  Here’s my advice:

The child development experts tell us that a child’s money habits are established by age 13 - so start teaching early - and long before 13!
 
From birth, you need to “set the stage” and spark your child’s interest in money: Read the rest of this entry »

This article from Yahoo! Finance provides excellent advice for adults.  I suspect that most adults don’t know all of these tips.  These are tips that we each should be teaching our kids as well.  From now on, I recommend that when you are making the decision at the point of sale, and you have your child with you, explain the logic behind why you chose to use debit or credit. 

http://finance.yahoo.com/banking-budgeting/article/109125/10-places-not-to-use-your-debit-card?mod=bb-checking_savings

A debit card traditionally has been defined as plastic with limits - one can only spend today what one has in one’s bank account today. Traditionally, a credit card has been defined as plastic without some of the limits – one can spend today more than one has in one’s bank account today, up to the credit limit established by the card issuer, with a legal obligation to eventually pay it all back later, with interest.

But now there’s a new form of credit that’s been created by the opportunistic folks at Kwedit, a new payment network targeting the young and the otherwise unbanked, a group that is most likely financially unsophisticated.   Read the rest of this entry »

The hosting company that hosts our website had an accident two weeks ago.  A big accident.  Despite their extensive security and redundant systems, they not only lost forever all the data on our server, but they also lost forever all the data on our backup server.  Read the rest of this entry »

That’s the email I received this morning in my in box. I was stunned. $150??? For a Valentine’s Day gift??? In today’s world $150 can be what a family has to spend on a week’s worth of groceries. Read the rest of this entry »

I recently wrote an article for the Live Simply segment on cozi.com, a website created to help busy families manage all the things they do. In the article, I list a few tips to help families talk about money to help start off the new year — especially if the holidays took a toll on your bottom line. Read the rest of this entry »

Start spending. I know, this sounds strange coming from me — but I really mean it — start cashing in your gift cards and certificates now. Read the rest of this entry »

I was at lunch the other day with a few octogenarians. Seniors with savvy money advice. One gentleman, 87 years old, told me that his mother taught him how to live life frugally. Read the rest of this entry »