Who Will Own Our Children?
By Rob Sansome
July 21, 2014
“How many of you would give a teenager $1,000…and have the confidence they would handle it responsibly?”
Research continues to show that current financial education approaches fall far short of changing financial behavior in a meaningful way. Beyond just being instructed about money, students must be able to effectively convert the information and knowledge acquired through content and instruction, and translate it into real behavioral change. In other words...achieve financial fluency.
So what can we do differently?
This session will bring together a perspective of financial mindset changes, historical markers that were missed, established learning elements, and share a simple approach for parents and others to confidently teach kids about money. It also introduces a working model for a suite of bank accounts based on our TrueWealth-KIDS approach (Keep, Invest, Donate, Spend) that gets kids out of piggy banks and into real world application.
Attendees will learn…
•Why financial literacy alone is not enough.
•The reason for current gaps in financial program outcomes.
•We’re here in part because we ignored history… which dooms us to repeat it
•The Right Solution to the Real Problem… Real money, Real choices, Real results.
After 22 years in banking, Rob turned his attention to financial education and in 2002 created The Financial Literacy Group. Recognizing that the true long term solution to the financial struggles many were facing was in beginning the process at a younger age, he joined TrueWealth Ventures, Inc. The mission is to advance better financial behavior by preparing children with a foundation of core values and concepts as a pre-requisite to good money habits. TrueWealth-KIDS also provides parents with a simple structure to engage their children in the real world experiences with money and as an alternative to traditional allowances and piggy banks, connect them with real bank accounts.
Rob currently serves on the Board of Directors for the Florida Prosperity Partnership and is the immediate past Chair of the Financial Stability Steering Committee for United Way of Central Florida. He has served on the Board of Directors for The Florida Jump$tart Coalition for Personal Financial Literacy. He is a frequent radio guest including the Doctor Radio show on Sirius XM, and has written a number of articles on Kids and money.
TrueWealth-KIDS was recently recognized as the Children’s Financial Education program of the Year with the 2014 EIFLE Award (Excellence in Financial Literacy Education).