Thursday, May 5, 2011

Pam's Picks: Financial Literacy Experts and Bill Cosby

Each week, I spend a lot of time reading new articles and blogs about kids, teens, money and financial literacy.  I'll even pop over to YouTube and see what's going on over there. In "Pam's Picks", I will share some great articles and videos with you.

On a serious note...

Article appeared on from Corpus Christi, TX on April 29, 2011
Michael starts his article with this example:  "If your seventh grader came home from school and told you that the American Revolution was fought in 1872 against Uganda, you'd be outraged by his historical illiteracy."  He uses several other examples to make his case for teaching financial literacy earlier --- not waiting until our kids are in college and taking an Economics class. I have to agree.  Whether financial literacy is taught by parents, schools or both, catching kids early is the way to go.  Read more... 

On a fun note...

Bill Cosby kept us all entertained as the fun-loving, honest, down-to-Earth dad on the Cosby show.  In this classic moment, he is illustrating the concept money to Theo, his teenage son.  It just doesn't get any better than this.

  Hope you enjoyed this!


  1. First - Michael Rizzo makes a great point, and YES, I would be outraged by his examples. I try to talk with my kids about finances, but I will try to bring it up more often. And while I have some ideas, I would appreciate some unique age-appropriate suggestions! Second - I absolutely LOVE Bill Cosby. I think we need to watch his reruns as a family! : )

  2. This is great stuff Pam. I am going to use this in Finance class to conclude the bell...

    Brian Page

  3. @Brian - Thanks! Hope your students enjoy!

  4. @Anonymous - Kudos to you for talking with your kids about finances and money! That's the first step and many parents feel uncomfortable doing that. With younger kids, simple conversations about what they are planning to do with their money is an excellent starting point. Are they saving for a certain toy? How long will they need to save?

    Teens can really dig into some great financial concepts. Talk with them about setting a goal for their money and help them come up with a plan to achieve their goal. We also involve our teens with the family budget and talk with them about how much we spend on their activities. It is often an eye opening experience! I would also suggest occasionally letting them borrow money from you --- as long as you make sure they pay you back. Following through on a loan and learning to be accountable help them learn the true value of a dollar.

    I recently posted a blog entry about helping teens to save and avoid impulse spending. You can use the search function on the blog or look under the Labels section --- Avoiding impulse purchases.

    Hope this gave you some ideas!