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Thread: Jay-Z and Warren Buffett Team Up to Teach Kids Financial Literacy

  1. #11
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    Re: Jay-Z and Warren Buffett Team Up to Teach Kids Financial Literacy

    Quote Originally Posted by Kandahar View Post
    I think this is a great idea. Financial literacy is more important than a lot of the stuff that is normally taught in school, and yet most schools don't even offer a class on it. For that matter, this country could use some financial literacy initiatives aimed at adults too. I can't think of a more effective anti-poverty program, in the long term.
    Will we get to see Buffet rap?

    Seriously though, that's good to see.
    Hopefully they won't try to patronize kids with stupid videos like "don't copy that floppy."
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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  2. #12
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    Re: Jay-Z and Warren Buffett Team Up to Teach Kids Financial Literacy

    Quote Originally Posted by SheWolf View Post
    The oldest is 10 and she really likes Selena Gomez, but she still likes Harry Potter...

    But I also worry that teaching kids about financial issues while they are too young, will not pay off. I never really understood the value of money until I got a job and had to make sacrifices between what I wanted. Then I finally understood what the hours spent working and the cost of items actually meant.

    Teaching people on how to get a good credit score is great knowledge, but why bother teaching it if they are 10 years old? Where I work, there is an agreement with the high school. We get a variety of little student workers to come in and do little tasks while other kids are at school. I think that's great experience for kids. If we gave children more opportunities like that, then I think we could turn things around for some kids.
    In 4th grade, my teacher taught us how to use a check book and balance it.
    It was a year long thing, were at the end of the month, we could bid on things based on the "money" in our check book.
    We got "money" based on good behavior, participation, etc.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

  3. #13
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    Re: Jay-Z and Warren Buffett Team Up to Teach Kids Financial Literacy

    Quote Originally Posted by MaggieD View Post
    This isn't what the average American needs to know. Here's my list:

    • How do I balance my checkbook?
    • How do automatic deposits work? Did you know if someone is automatically depositing in your account, they can also claw back that deposit if they need to?
    • How does my credit score impact my credit card interest rate? Home mortgage rate?
    • How can I improve my credit score?
    • How much interest does my credit card charge? What are its other fees? What happens if I'm late? How long will it take me to pay off $1,000 if all I make is the minimum payment? Should I carry a revolving balance for ordinary purchases? What happens when I do?
    • How do I compare credit card interest rates? Mortgage rates?
    • What's an amortization calculator and how can it help me?
    • How long will it take me to pay off my student loan? Is it a good deal? What are the pitfalls?


    I could go on, but I think you get the picture. Knowing that the Federal Reserve is really a corporation doesn't even make my list.
    I enjoyed your post, but we begin from diametrically opposed points of view. I try to deal with cash, although I have a checking account for bill paying convenience, and a few credit cards for online dealings. If you take a year off and build your own house, the labor becomes your equity. You should already possess the cash for materials, and with cash you can negotiate down the cost of materials. Or you can barter one thing for another to accumulate your materials. Put the student loan money into a business instead. Make a job or two, make a buck or two. Get the cash first and then start building anything. I have lots of friends who owe huge amounts and actually own nothing. The bank owns. Build an energy efficient home that generates its' own power. Spend the savings on commodities/things that trade well and enjoy bartering with like minded persons. More common than you think. The loan trap closed in 2008 for a lot of people and they lost everything that they didn't really own anyway. Yes, indeedy, alternatives aren't just about energy.

  4. #14
    Stigmatized! End R Word! Kali's Avatar
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    Re: Jay-Z and Warren Buffett Team Up to Teach Kids Financial Literacy

    Quote Originally Posted by Kandahar View Post
    Depends what parents are comfortable having their kids listen to. He's a rapper and he certainly isn't shy about swearing or referring to violence in his songs, but his songs have a socially conscious aspect to them in contrast to "gangsta rap." And he's incredibly intelligent. In any case I would assume that he'll tone it down for something like this.



    Jay-Z went from poor to riches too. And I imagine he's considered quite a bit "cooler" among kids than JK Rowling. But maybe it depends on what age group they're targeting.
    Jay-Z is not just a rapper. He is a very smart business man and author.. Also owns his own record label.. And more..

    I think this is a wonderful idea

    BTW, for those that feel this could be over the kiddies heads? Just keep in mind shows like School House Rock
    Last edited by Kali; 10-23-11 at 12:47 AM.
    ~Following My Own Flow~

  5. #15
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    Re: Jay-Z and Warren Buffett Team Up to Teach Kids Financial Literacy

    Quote Originally Posted by DaveFagan View Post
    I enjoyed your post, but we begin from diametrically opposed points of view. I try to deal with cash, although I have a checking account for bill paying convenience, and a few credit cards for online dealings. If you take a year off and build your own house, the labor becomes your equity. You should already possess the cash for materials, and with cash you can negotiate down the cost of materials. Or you can barter one thing for another to accumulate your materials. Put the student loan money into a business instead. Make a job or two, make a buck or two. Get the cash first and then start building anything. I have lots of friends who owe huge amounts and actually own nothing. The bank owns. Build an energy efficient home that generates its' own power. Spend the savings on commodities/things that trade well and enjoy bartering with like minded persons. More common than you think. The loan trap closed in 2008 for a lot of people and they lost everything that they didn't really own anyway. Yes, indeedy, alternatives aren't just about energy.
    Dave! The reason you live the way you live is because you already KNOW the answers to every single ONE of the questions I posed. Now. Let's teach that to others.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

  6. #16
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    Re: Jay-Z and Warren Buffett Team Up to Teach Kids Financial Literacy

    I think that most fans of Jay-Z are already very familiar with Warren Buffet's exploits in the financial arena.

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