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

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

    One is worth $39 billion, while the other has a comparatively meager $450 million but significantly more street cred with young people. So Warren Buffett and Jay-Z are teaming up to teach kids about financial literacy. Buffett's animated series Secret Millionaires Club is set to move from the web to television this month, and an animated Jay-Z is the guest star for the first episode on October 23.

    Jay-Z and Warren Buffett Team Up to Teach Kids Financial Literacy - Education - GOOD
    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.
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    Re: Jay-Z and Warren Buffett Team Up to Teach Kids Financial Literacy

    Some Congresswoman in the northeast thinks a lack of free diapers are what's holding America back.

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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.
    "The country could use some financial literacy" and that is really the story here. Most don't even knoe that the Federal Reserve is a private corporation. How about a government inititated study on large scale financial movements? I think the CIA has already done that, but since their allegiance is to Corporations, I don't think you will be reading about it. Centralized distribution networks anyone? Not conspiracy stuff, but real good business for big business methods. Financial literacy, like the Energy dept is the support group for big energy, not me. Financial literacy, like the FDA is the support group for big pharma and Corporate medicine. Financial literacy, like Agriculture is the support group for big Corporate farms and Big Chemical companies. Financial literacy, like what department works for the people's interest? You don't suppose that OWS will identify these illiteracies, do you?

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

    I think basic financial literacy is a great thing ( and should be taught every year in high school, along with civics).... but to be honest, our financial sector is kind like our laws and our tax code... complex beyond understanding.

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

    Quote Originally Posted by Thrilla View Post
    I think basic financial literacy is a great thing ( and should be taught every year in high school, along with civics).... but to be honest, our financial sector is kind like our laws and our tax code... complex beyond understanding.
    For the average person, financial literacy need not be complex beyond understanding. For most people, the rules are pretty simple: Don't take on too much debt, save some of your money, invest at the highest ROI you can for the least risk you can, don't waste your money on things that don't actually improve your life, etc. If people follow some fairly simple rules, chances are that their finances will usually be in good shape.
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    Re: Jay-Z and Warren Buffett Team Up to Teach Kids Financial Literacy

    I think this is a great idea and something I have been hoping that schools would step in and do in the first place.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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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.
    My only thought is, is Jay Z appropriate for a child audience? I have no idea what he sings, and I just know what my little nieces won't get very excited about Jay Z. If it were JK Rowling and Harry Potter, they'd be so excited. And JK Rowling literally did go from poor to riches. Other than that, I have no problem with it.

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

    Quote Originally Posted by SheWolf View Post
    My only thought is, is Jay Z appropriate for a child audience? I have no idea what he sings,
    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.

    and I just know what my little nieces won't get very excited about Jay Z. If it were JK Rowling and Harry Potter, they'd be so excited. And JK Rowling literally did go from poor to riches. Other than that, I have no problem with it.
    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.
    Last edited by Kandahar; 10-22-11 at 03:03 PM.
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    Re: Jay-Z and Warren Buffett Team Up to Teach Kids Financial Literacy

    Quote Originally Posted by DaveFagan View Post
    "The country could use some financial literacy" and that is really the story here. Most don't even knoe that the Federal Reserve is a private corporation. How about a government inititated study on large scale financial movements? I think the CIA has already done that, but since their allegiance is to Corporations, I don't think you will be reading about it. Centralized distribution networks anyone? Not conspiracy stuff, but real good business for big business methods. Financial literacy, like the Energy dept is the support group for big energy, not me. Financial literacy, like the FDA is the support group for big pharma and Corporate medicine. Financial literacy, like Agriculture is the support group for big Corporate farms and Big Chemical companies. Financial literacy, like what department works for the people's interest? You don't suppose that OWS will identify these illiteracies, do you?
    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.
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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.
    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.

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