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| Sunday, July 16, 2006 |
| Money Camp |
| My local news station aired a recent Consumer story: Teens Attend Money Camp For Financial Literacy. Nice little story about a personal finance summer camp called Money Camp. Great idea and interesting story - just one problem. The camp is in California! They never mentioned that during the news story. Anyway, still a good idea, just not too practical for Massachusetts teens... |
| posted by Boston Gal @ 7:36 AM *
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| 3 Comments: |
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I looked at the website, and you go attend a training camp in order to bring the Money Camp to Boston.
I can see it now, Jane Dough's Money Camp.
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Hey John M,
What a scary thought! Me and a bunch of teens "rapping" about money.... Having never been trained to educate children, I would be drawing on personal experience I had with teachers. Since my grade-school years were spent in a Catholic school with nuns who refused to retire, my methods might be a bit odd. My main impression of the nuns teaching method was drilling us and making us repeat everything they said three times while they periodically barked "Three times for the normal mind ladies and gentlemen. If you can't figure it out by the third time I say it to you, all hope is lost."
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If I only knew now what I knew then……. Know one ever told me that starting at age 25 if I saved $65 a month by age 65 I’d have a million dollars. And know one ever really taught me the importance or the principle of savings. Really, if I had to choose what my parents taught me about money—how to save it, how to make it or how to spend it—I’d probably have to say, what they taught me the most is how to spend money.
For many preteens and teens today, although bright, educated and smart, they fail when it comes to basic, simple money management skills. 4 out of 5 teenagers can not tell you what goes on inside a bank. And 73% didn’t know that a stock would yield more over time than a savings account, according to Jump $tart. Why? Because finance and money management are not being taught in schools or is just now starting to be taught in certain areas of the country in high schools. Plus, high schools are experiencing the largest dropout rate in their history—1 dropout every 7 seconds or 1 million drop outs in 2005. Plus, a minimum wage increase has just been turned down and wage stagnation is at its worst in 30 years.
If you don’t take the time to teach your children the principles of money NO ONE ELSE WILL! MoneyMoney101 for preteens and teens is coming! Stay tuned.
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I looked at the website, and you go attend a training camp in order to bring the Money Camp to Boston.
I can see it now, Jane Dough's Money Camp.