John Lanza - Teach Kids About Money for CA Jump$tart

Teach Kids theValue of Money

There’s Never BeenA Better Time!

Catherine Pulley, American Bankers Association

“Financial literacy is a basic survival skill that is as important as teaching kids to look both ways before crossing the street.”

We teach them…

The ABCs

To Eat Right

Reading, ‘Riting, ‘Rhythmatic

The Fourth “R”

Real World

-Robert DuvallNCEE

Missing Financial Literacy

This Must Change

We Don’t Have A Choice

The “Perfect Storm”The “Perfect Storm”Retirement ResponsibilitySocial Security401KsNo more employer-provided defined

benefit plansEasily accessible consumer creditMovement towards a cashless societyIncreasingly sophisticated marketing

techniques

Retirement ResponsibilitySocial Security401KsNo more employer-provided defined

benefit plansEasily accessible consumer creditMovement towards a cashless societyIncreasingly sophisticated marketing

techniques

Lack of EducationLack of Education

Establish Money Smarts

Younger!

What about the schools?

Reality Check

Jump$tart high school survey

Mean Score = 52.4%

Proportion failing exam = 62%

What percent of parents believe that schools provide classes on money management and budgeting to their students?

80%

Reality Check

In most cases, economics and personal financial literacy programs are elective classes so “only 12% of Americans graduate from high school having learned anything about money at all.”

• No National Standards• It’s up to Jump$tart• It’s up to Parents

• No National Standards• It’s up to Jump$tart• It’s up to Parents

Are parents up to task?Are parents up to task?

71% of teens report learning about money management from parentsyet…

only 26% of parents with children 5 or older feel well prepared to teach their kids about basic personal finances.

71% of teens report learning about money management from parentsyet…

only 26% of parents with children 5 or older feel well prepared to teach their kids about basic personal finances.

Reality Check

A financial literacy “buck” isbeing passed from parents to teachers and back to parents again. Parentsassume that schools are teaching financial literacy, but schools, by and large, arenot teaching it. Teachers, like parents, don’t feel comfortable teaching it.

-John Clow, Jump$tart

Parents Need Help!

How Young Can They Learn?How Young Can They Learn?

''About half of the kids picked saving for college for their long-term savings goal — at 8 years old,'' Justin Goia, anA.G. Edwards spokesman, said of interviews with kids involved in a program aimed at teaching third-graders tosave and invest. ''What it told us was that kids this age had the capacity, intelligence and desire to make thoughtful decisions about their future.’’

''About half of the kids picked saving for college for their long-term savings goal — at 8 years old,'' Justin Goia, anA.G. Edwards spokesman, said of interviews with kids involved in a program aimed at teaching third-graders tosave and invest. ''What it told us was that kids this age had the capacity, intelligence and desire to make thoughtful decisions about their future.’’

Children are already a major target audience for advertisers. American companies currently spend _______ a year on marketing and advertising tochildren under the age of 12—twice the amount they spent just 10 years ago.

$15 billion

Each year, the average child sees about _________ ads on television alone.

40,000

Strong ForcesWorking AgainstFinancial Literacy

Americans consume

The inspiration

Money Mammals Theme Song Plays Here

A Better Brand

Three-pronged approachShareSaveSpend Smart

Engage kids

Ages 5-8

Needs vs. WantsMaking Choices

Sharing, Saving, Spending SmartAllowance

Money Spent = Money GoneSaving is Good

Delayed Gratification

Delayed Gratification

Children under the age of eight do not recognize the persuasive intent of ads and tend to accept them as accurate and unbiased. In fact, 30-second commercials have been found to influence brand preferences in children as young as ______ years old.

Two Years Old!

Two Young??

Emergent Literacy

“…it is widely recognized that literacy, as the

foundation for virtually all other subject areas,

needs to be taught from the very earliest ages;

this focus on early childhood literacy is known as emergent

literacy.

A Simple Goal

Let’s raise a generation of money savvy kids, not a

generation of kids whose sole concern is money.

Oscar Wilde

“There is only one class of people who think about money more than the rich. Those are the poor!”

Bonus Benefit!

Parents Get It!

Quinn’s Story

Started allowance at 4 ½

Quinn’s Story

Quinn’s Story

Money Mammals Challenge

Bringing goal-setting home for kids and parents!

Real Life Experience

• Quinn and Thrive by Five lesson

Saving Money Is Fun!

Expanding Reach

The Louise Herring Award

Best Practices

Kids Club Overview Video Plays Here

Live Events

In the Community

NewsletterNewsletter

Additional Resources

Thrive By FiveNCEE – incredible resourceJA “More Than Money”Jump$tart Clearinghouse

Top Three TipsJump$tart Members

We’ve worked with

Credit UnionsLibraries

CPA AssociationsNYIB

Anyone on the same mission

When did Americans last save 10% of their income?

1984Americans were saving 10% of their disposable income in 1984. It dipped below 0% in 2005. Now we’re saving less

than 3%.

Generation 10!

The Money Mammals were cited in Congress as a program that helps

teach young kids about the value of money.

www.themoneymammals.com