Comments on: Kids & Money Survey Results

By: BC STUDENT LOAN REVIEWERS | BC Student Loan | Student Loan Consolidation

Thu, 09 Apr 2009 23:13:48 +0000

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By: BC Student Loan Review | BC Student Loan | Student Loan Consolidation

BC Student Loan Review | BC Student Loan | Student Loan Consolidation — Thu, 09 Apr 2009 23:12:58 +0000

[...] Kids & Money Survey Results « gailvazoxlade.com [...]

By: Sarah

Sarah — Tue, 07 Apr 2009 17:25:00 +0000

There is a very small article on this on Page A2 of the Toronto Star today (Tuesday, April 7 2009). It is called “Teach the ABCs of finance, debt as early as Grade 4, trustee urges’ by Kristin Rushowy

By: Ed

Ed — Tue, 07 Apr 2009 12:46:34 +0000

I think a good place to start is to teach kids (and their parents) to know what they are signing. The importance of understanding a contract would open a lot of peoples eyes that would actually take action if they only knew.

Case in point – my wife and I just put a tentative offer on a new home in a soon to be built area. I read the entire contract letter by letter, found about 10 modifications that needed to be made in order to not sign away all our rights during building. I also discovered that hidden in that contract was a clause about a large section of the development that had known water issues in the basements and would be prone to flooding (not for me thanks!). It turned out that I was the first person of the 81 prior people who had signed that actually noticed that and requested a site survey to see if our house was going to be close to that area. Even the other sales agent that had bought a house in the development had missed it. Its a bit disconcerting that I would be the first person to notice that (and we’re first time home buyers too).

An assignment where kids pretend to apply to a credit card, buy a car etc and then have to figure out how to handle a scenario (ie lost job, cashflow change) after the purchase, but comply with the contract they signed might be a real eye opener.

- Ed

By: Melanie Reformed Spender

Melanie Reformed Spender — Tue, 07 Apr 2009 02:40:35 +0000

#Devil’s advocate#

What would you like us to remove from the program to make room for personal finance?

By: Marie

Marie — Tue, 07 Apr 2009 02:23:48 +0000

Teaching: fact is that NOT everybody will get it.
You want to change who tomorrow’s family about money talks, teach today’s kids!

By: Kids & Money Survey Results | Solution to Math Problems | Solutions/Problems

Tue, 07 Apr 2009 01:41:43 +0000

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By: Sarah

Sarah — Mon, 06 Apr 2009 21:16:30 +0000

I think the most important lessons are learned both at home and at school.
I remember taking a business math course in Grade 12 and thinking oh god this is going to be boring! It was the best class ever bc it had to do with compounding interest and if I started saving just $100/month then I could have a million by 65 years old at retirement. I wish I had listened especially now I am 30 and just started a few years ago with my husband saving. But I will never forget that teacher it was a very realistic personal finance course and explained the basics of running a business. Great information!!
At home my mom and dad were very private about their own financial situation but I remember my mom sitting down on a monthly basis to do her cheques and balance system from their chequing account. She would make sure every cheque was accounted for. I sat down with her and she would show me how to do it. It was a good lesson. I wish my parents had been more open with the rest of their financial situation.
The last few years following Gail is when I have learned the most though and I have actually followed through which feels even better…..
I feel very strongly about bringing finances into kids lives I sure hope something happens soon! We have already seen what disastrous effects ignorance can have on the financial system on a global basis. Yikes!!

By: Pat

Pat — Mon, 06 Apr 2009 21:04:44 +0000

I think it is wonderful to advocate for courses in schools to teach money management and budgeting. BUT, I have worked in schools for 10 years – and schools are also being asked to teach, empathy, mediation, technology, sports education, sexual abuse education, dating violence, . . . (you get the picture) this is in addition to the reading, writing and math that is essential (never mind science, social studies, political studies and health).

Schools are a part of the social structure of our society, BUT the essential unit that our society is based on is the family. Rather than advocating in schools – how about supporting parents to do this.

Children are in school for approxiametly 600 hours a year (including lunch and recess). They are with their families for close to 7,000 hours in a year – so where is the best investment of our time and effort? Educating families to teach their children (and role model appropriate behaviours) or ask a teacher with a classroom of 30 students (3 who have special needs) to incorporate this into their curriculm?

By: Saver Queen

Saver Queen — Mon, 06 Apr 2009 19:26:06 +0000

I agree that lessons at home are the most powerful when it comes to money. Information taught at school is important, but if the kids come home to see their parents contradicting every lesson, they’ll most likely believe their parents and not their teachers, to have the answers.

By: Gemini

Gemini — Mon, 06 Apr 2009 18:24:12 +0000

Gail

OSSTF has a publication called FORUM which prints 3 or 4 times per school year. I’m not sure how you submit briefs etc. but you may want to try this lead:

Contact Information
Wendy Anes Hirschegger
Executive Assistant, Educational Services Department
OSSTF/FEESO
60 Mobile Drive,
Toronto, ON
M4A 2P3
Tel 416-751-8300
Fax 416-751-7079
Toll Free 1-800-267-7867

Also, there is a publication from the College of Teachers. I don’t know who to contact but here is some information.

Ontario College of Teachers
121 Bloor Street East
Toronto ON M4W 3M5

Telephone: 416-961-8800
Toll free in Ontario: 1-888-534-2222
Fax: 416-961-8822
E-mail: info@oct.ca

The elementary Teachers have an ebulletin @ETFO.

Elementary Teachers’ Federation of Ontario
480 University Avenue, Suite 1000
Toronto, ON M5G 1V2

Phone: 416-962-3836
Toll Free: 1-888-838-3836
Fax: 416-642-2424

http://www.OSCA.ca – Ontario Secondary Counsellors Association has a home page and a conference.

OSCA provides leadership and support in Guidance and Career Education for Guidance Teacher-Counsellors and students.

You can be a presenter. Here is the link:

INSTRUCTIONS FOR SUBMISSION

1.Electronic submissions are required. See instructions above. Please send to the OSCA 2009 Conference Planner at: hwilker@blessedevents.ca.

2.Completed proposals must be submitted by April 20, 2009. Submitted materials will not be returned.

Ontario Association for Mathematics Education:

The executive directors can be reached at:

O.A.M.E.
70 Chestnut Court
London, ON N6K 4J5
Phone / Fax: 519-471-6324

E-mail: EDs@oame.on.ca

Conference Information below:

OAME 2009: Balance: Finding the right MMIX is now open for online registration. Plan now to attend the OAME annual conference at Carleton University, Ottawa, from May 14-16, 2009. Register now for best selection. Visit http://www.oame2009.ca for more details. Please note that online registration closes on May 4. After May 4, you can register in person during the conference.

Publications:

Our publication, called ‘The Gazette’

… is indexed in the Canadian Education Index and is published four times per year. It is the major periodical for mathematics education in Ontario. Interesting, relevant articles are written by some of the most outstanding mathematicians and educators in Ontario and North America. You can view samples of articles from previous issues by clicking here …

Current Issue: Volume 47 # 1 – September 2008

Also included in every Gazette is an issue of the OAME/AOEM

The Abacus is a publication that focuses on the needs of the elementary mathematics teacher.

Submission of Articles
Referred articles for the Gazette should be submitted to STEWART CRAVEN at:

STEWART CRAVEN
Gazette Editor, Ontario Mathematics Gazette
118 Gledhill Ave
Toronto ON
M4C 5K8

By: Stephanie H.

Stephanie H. — Mon, 06 Apr 2009 18:23:45 +0000

The high school I went to had a business department, which included classes on typing, accounting and money management (they added computer classes in the early 90s). My mom did a long term substitution for the money management teacher. One of the projects was to do research/create a budget in order to live (searching for an apartment, utilities, transportation, food etc). It included how much would you earn vs take home for x, y or z job (of different income levels). How to use a bank and right checks. The catch is that this was a class that you would never see a college bound student in. There just was not enough time in the day. When I was in school I took two years of summer school and an extra period of class for two years in order to obtain my college requirements. I think ultimately a good place to offer the information is in an economics class (taken in your senior year in California). You are already learning about the economy at large including the stock market/investing and how it works. At my high school we had economics projects where each of the economics classes became a business (restaurant) where you could buy shares. We spent all day out of class prepping and selling food and when it was over after the business paid any fines and its taxes (this went to a scholarship fund) the shares would be paid out based on the profit. If personal finances were added to this class it would make perfect sense. This same class already included career counseling, job interview prep, college applications and resumes.

As many have mentioned student may not take it seriously at the time but at some point down the road it may click and they will probably have retained at least part of the information whether they wanted to or not.

Just a thought but the first episode of the Cosby Show included a lesson on money using monopoly money. It would be a good introduction to the idea that money doesn’t stretch as far as you thing and it would be entertaining at the same time.

By: Didi

Didi — Mon, 06 Apr 2009 18:19:38 +0000

Gail – on a side note.. when I clicked on the link for http://www.getrichslowly.org I’m redirected to getrichslowly.com… not sure how that happened but they don’t seem to be the same site at all.

By: Didi

Didi — Mon, 06 Apr 2009 17:53:12 +0000

@michelle.. and just maybe the kids who learn these lessons in school will end up teaching their parents! you just never know.. I think it’s such a basic but important part of life that it really should be taught in schools as well as at home. In some cases though where the parents are not teaching their kids about finances or being good role models at home then school may be the only place they learn the lessons needed to thrive financially. kudos to those teachers (frugal graduate, I mean you) that try to teach our kids these life lessons even when faced with some students that don’t want to learn… I’m sure frugal graduate, that you got through to many more of them than you realized.

By: Fabulously Broke

Fabulously Broke — Mon, 06 Apr 2009 17:46:30 +0000

I once taught a class on budgeting and preparing kids in Grade 8 for university.

Most of them saw it as a fun exercise to get to pick out their apartment, their new car, etc.. but then saw they were WAY over budget at the end of the month.

But then they’d freak out that they couldn’t get the apartment with the Jacuzzi and they just said: Well, we’d find a way. Our parents would pay, or we’d just borrow.

I was shocked but not surprised.

Only ONE KID in the ENTIRE class of 35 kids said: My dad teaches something similar, and I learned since I was 4 how to budget! I KNOW what it costs! And dad always says to get your bare minimum, then upgrade as you go along…

I was so.. so proud of him LOL….