The University of Auckland Business School’s Post

Reason 3 of 6. Thought leadership from Sam X Renick ...From birth, both children and adults are inundated with financial messages primarily promoting consumption, often irresponsible consumption. The sheer volume and influence of these advertising messages shape everyone's perceptions, attitudes, and habits towards money. Such conditioning severely compromises the prospects for success, security, peace of mind, and fulfillment for all, including children, if unchecked... Click to read more. Contact Sam & Sammy to collaborate to advance kids, families, and communities financial literacy levels. #bank #banking #school #nonprofit

Reason 2 ...Financial habits, feelings, and atttiudes are established very early in life. And, they can persist throughout adulthood whether they are good or bad. It is "vital" to note, many parents, educators, and experts may not fully grasp how early adult financial behaviors begin to take shape... Read more. Click image. #parenting #educator #teacher #leader #bank #school #nonprofit #employeebenefit https://lnkd.in/gzYAdypK

👶 Four Priceless Money Lessons for Kids: Setting the Foundation for Financial Success 💰 Teaching kids about money is one of the most valuable gifts you can give them. These early lessons lay the groundwork for financial literacy and responsible decision-making later in life. Here are four essential money lessons to start with: The Value of Earning: Help kids understand that money is earned through work. Whether it's through chores, an allowance, or a part-time job, experiencing the effort required to earn money instills a sense of value and responsibility. Saving for Goals: Encourage kids to set savings goals, whether for a toy, game, or bigger purchase. This teaches them the importance of delayed gratification and how to manage their money to achieve their goals. Budgeting Basics: Introduce the concept of budgeting by helping them allocate their money into categories—spending, saving, and giving. This practice helps kids understand how to prioritize and plan for future needs. The Power of Giving: Teach kids about the importance of generosity and helping others. Whether it's donating to a charity or buying a gift for someone in need, understanding the impact of giving is a crucial part of financial education. By instilling these money lessons early, you're equipping your children with the tools they need to make wise financial decisions throughout their lives. #FinancialLiteracy #Parenting #KidsAndMoney #FinancialEducation #WealthManagement #GreeneWentzlerWealth #Woodforest #WoodforestWealthStrategies

What is your favourite financial education program that you have seen recently? Mine is the Youth Opportunity Funds. The Youth Opportunity Funds, comprising $10,000 grants, are designated for investment on behalf of students. Access to the full amount will only be granted at age 25, contingent upon meeting milestones such as high school and college graduation, alongside completion of financial literacy courses. According to Mr. Kwame Owusu-Kesse (the Harlem Children Zone chief executive), a kindergartner enrolled in the program this year could anticipate their $10,000 allotment, managed by professional money managers, to generate approximately 5 percent interest annually. By the age of 25, the student could potentially have accumulated around $26,000 in savings. Even if students fail to achieve all the milestones, they will still be eligible for a portion of the funds. Managed by financial professionals, these funds offer the potential for significant growth, providing opportunities previously inaccessible to many. The program's structure, with funds accessible at key milestones like high school and college graduation, ensures responsible usage and encourages financial literacy. It not only acknowledges the limitations of education in wealth disparity but actively works towards rectifying it. Looking ahead, initiatives like this inspire us to consider similar investments in our communities. By pooling resources and focusing on wealth-building opportunities, we can create lasting change for generations to come. What would you have invested in 12 years ago, knowing the impact it would make today? Are there other funds out there similar to this one?

"Charity Begins at Home" As accountants, we recognize the vital role that financial literacy plays in navigating the complexities of modern life. Our expertise in managing finances and understanding economic principles positions us uniquely to impart valuable lessons to the next generation. The age-old adage, "Charity begins at home," underscores the importance of starting these educational efforts within our own families. Why Financial Education at Home Matters Financial literacy is more than just understanding money; it's about making informed decisions, planning for the future, and cultivating a mindset of responsibility and security. By teaching our children these principles early on, we empower them to make wise financial choices and develop a healthy relationship with money. Practical Steps for Financial Education on Weekends ✅Use Real-Life Examples: Take advantage of everyday situations to explain concepts like budgeting, saving, and spending. For instance, involve your children in grocery shopping to show how to compare prices and make cost-effective choices. ✅Set Up a Mini-Project: Encourage your kids to manage a small project, such as saving for a desired toy or planning a family outing. This hands-on approach makes learning engaging and memorable. ✅Teach Through Games and Activities: Use age-appropriate games that involve money management or financial strategy. Board games like Monopoly or digital apps designed for financial learning can make the process fun and educational. ✅Discuss Financial Goals: Talk openly about family financial goals and the steps needed to achieve them. This not only demystifies financial planning but also shows the importance of setting and working towards objectives. ✅Lead by Example: Children learn a great deal by observing their parents. Demonstrating prudent financial habits and explaining the reasoning behind your decisions can be a powerful teaching tool. The Long-Term Benefits Investing time to teach financial literacy at home equips children with critical life skills. It fosters a sense of confidence in handling money, promotes responsibility, and prepares them for the financial challenges they will encounter as adults. We have the knowledge and tools to make a significant impact on our children's financial education. Let’s take a Saturday off work to begin these crucial conversations and activities, ensuring that our children grow up with the financial acumen they need to thrive. After all, “Charity begins at home,” and there’s no better gift we can give than the skills to achieve financial security and success. Have a lovely weekend 🎉 🎥 Instagram 𝘐𝘧 𝘺𝘰𝘶 𝘧𝘰𝘶𝘯𝘥 𝘵𝘩𝘪𝘴 𝘩𝘦𝘭𝘱𝘧𝘶𝘭, 𝘱𝘭𝘦𝘢𝘴𝘦 𝘳𝘦𝘱𝘰𝘴𝘵 𝘪𝘵 𝘴𝘰 𝘰𝘵𝘩𝘦𝘳𝘴 𝘤𝘢𝘯 𝘣𝘦𝘯𝘦𝘧𝘪𝘵 𝘵𝘰𝘰. 🔄 🔄 🔄

If there was one useful class you could have added to your middle school or high school education, what would it have been? I was just discussing this last night with my son, now 12. He said "why don't we have a class about money in middle school? Everyone uses money." He's so right--financial education and literacy are so lacking here in the US--and not just in schools, either. Many adults report wishing they had a better handle on finances, money, savings, and investing. Because my son is right--everyone uses money! One of the biggest benefits of being in financial services is the ability to see and call out folks who try to increase financial literacy in adults and children through education. For the 2023-2024 school year, TransUnion partnered with the Goalsetter Foundation, the charitable arm of Goalsetter, a foundation working to ensure youth in America know "they are worthy of wealth by teaching them how to build it." I could not love that more. Read more below. Because the more you know 🌈 🌟 #education #financialeducation #financialliteracy #transunion #informationforgood #themoreyouknow #tu #financialservices #community

Reason 2 ...Financial habits, feelings, and atttiudes are established very early in life. And, they can persist throughout adulthood whether they are good or bad. It is "vital" to note, many parents, educators, and experts may not fully grasp how early adult financial behaviors begin to take shape... Read more. Click image. #parenting #educator #teacher #leader #bank #school #nonprofit #employeebenefit

RAISING MONEY-SMART KIDS Your Path to Financial Literacy Starts at Home: Here is one perspective. I have my own angles too: Did you know that almost 50% of parents rarely discuss finances with their children? This is a startling statistic, considering financial literacy is a critical life skill. Here's a snapshot of some (low brow) tips and tricks to raise dollar-savvy kids in today's tech-powered world: Jars for Allowance: The good old piggy bank concept still works. When you give your children their allowances, suggest they segregate it into jars for saving, spending, and charity. This simple act not only helps them understand budgeting but introduces the concept of charity too...OR Jack says...no allowance, just pay per job outside normal maintenance. Allowance can create an entitlement attitude. Needs vs. Wants: Help your children distinguish between needs and wants. This builds responsible habits and promotes an understanding of saving. Paystub Study Session: With older kids, take a moment to discuss a paystub, explaining each deduction and its importance. This could be a great starting point for discussing long-term savings. Investment 101: Introduce your children to the world of investments as early as you deem appropriate. You can explain the fundamentals of stocks, bonds, and mutual funds, and help them find those with low-cost minimums. AND REAL ESTATE...don't just give your money to the stock market backed by a corrupt government. Remember, as we nurture the financial sense in our children, we're shaping a smarter and more responsible future generation. Let's secure our financial future and build a money-smart generation!

Use Sammy Rabbit's #DreamBig #FinancialEducation program to get kids money smart. Enroll children in Sammy Rabbit's Money School's Free Membership program today #schools #nonprofits #afterschoolprograms

Financial literacy is often overlooked, yet it is a vital skill that can significantly influence an individual's lifelong outcomes. That is why Twyla Prindle introduces financial education to children as young as seven in her innovative financial literacy programs. Twyla is the CEO and founder of Us & Our Children Inc. and the visionary behind Kash Kids and Prindle House Publishing. We first hear of Twyla's work through skills-based volunteering programming with Common Impact and Fidelity Investments. Twyla is a firm advocate for collaboration, harnessing the expertise of Fidelity volunteers to propel multiple projects forward. Dive deeper into her organization's impact and discover how skills-based volunteering is helping fulfill her organizational mission and vision. #InvestInNonprofits #CorporateCitizenship #CorporateVolunteering #CorporateSocialResponsibility #SocialEntrepreneurship