| April is National Financial Literacy Month, and you love to talk about money, but I think it should be called National Financial Intimidation Month. After all, most of us “mere mortals” find personal finance intimidating. And boring. And tedious. |
| Are you done? Besides, I thought you got over that years ago. |
| Being forced to figure out the basics doesn’t make personal finance any more interesting. It’s like getting my teeth cleaned. I know I need to do it, but that doesn’t make it any more enjoyable. |
| Great analogy, especially as getting you even to think you could “do” personal finance was like pulling teeth. |
| Fine, is this where you’re going to remind me how I freaked out when you first mentioned financial statements? Or when you told me that if I could add and subtract, I was qualified? |
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assets.rebelmouse.io
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| Actually, it quickly became obvious that a big part of the problem was the terminology, which is why I simplified it. |
| I remember. Especially since you love to tell people how emphatic I was that I couldn’t deal with assets and liabilities until you told me we were going to talk about “what you own” and “what you owe,” and I said I could do that. Neglecting to tell me those were the definitions. |
| My version is technically accurate. But, making it a funny story makes the topic relevant and relatable. And, memorable. |
| Like when you used to ask auditoriums full of eighth graders how many liked math, and only a handful raised their hands. But when you asked how many liked money, they ALL raised their hands! |
| Exactly. The difference is focusing on practical applications versus terminology and theory. Many people will think they are not good at math when, in reality, they are not good at theory. |
| Do you remember when you took the girls and me to Central Market? Back when Natasha was in high school and close to failing math. She had a store gift card and a basket full of items. Sawyer and I watched as the cashier entered each item, and we were betting on how much Natasha would overspend. Instead, she came in slightly under! |
| She seemed to know exactly where she stood. And, was doing it in her head. Which did not surprise me as she was always good with numbers. It is why business plans for bars, not just the creative concepts and drinks, but the numbers, come so easily to her. Natasha often struggled with the supposed “correct order” of the mathematical steps, but she understood the application. |
| But I’ve always thought of math as being very structured. With right and wrong answers. |
| Ok, if something is $7.84 and I give you a $10 bill, how will you figure out the change? And, you cannot use a calculator or smartphone. |
| Easy. Subtract $7.84 from $10. How else would you do it? |
| Add $0.16 to get to $8. Then $2 more to get to $10. I can get to the “correct” answer of $2.16 faster using addition than subtraction. |
| That’s really interesting. When you asked me how to figure it out, the straight-A student in me defaulted to how I was taught to do it. But your approach is a much easier way to get to the same answer. |
| Basic algebra. |
| Don’t even think of going there. But it does explain the trick Mommy taught me years ago about calculating the cost of something with tax. Rather than figuring out what 8.25% of the price was and then adding it to the price, I’d just multiply the number by 1.0825. |
| I doubt Mom realized the mathematical equation behind solving for “x,” but she knew why take two steps when you can take just one. Whether in your head, on paper, or using a calculator. |
| So, just like you made me realize being open to “trying” to do personal finance is about mindset, so is math. Using your logic, why not teach math, at least to those who aren’t into theory, in a practical way? And by using money examples, you also could be teaching personal finance. After all, kids may not like math, but they sure do love money. |
| Mom used to say that I excelled in math because, as a kid. I would substitute “dollars and cents” for “apples and oranges” in word problems. Although, looking back, putting me on a clothing budget when I was in middle school is what probably taught me the most. |
| I still can’t believe you never realized it was intended as a punishment, not a life lesson, until you were trying to explain budgets to me while I was in the midst of my “crisis”. |
| I still can’t believe you never learned about money until you were in your 40s, and it took your husband getting fired. But, the bottom line is that you are never too young or too old to learn. |
| About math. About money. About life. |
Want to read other columns? Here's a list.
Take a moment and imagine not being able to read this sentence. Now, think about this … if you’re reading this, you’re doing something millions of Americans can’t.
|
I’ll admit that I never realized how many people can’t read.
It’s something I’ve always taken for
granted. That’s until Black and I met
someone doing something about it – Jackie Aguilera, now the Project Manager for
the Mayor’s Office of Adult
Literacy (Houston). Her focus
wasn’t only on reading literacy but on “literacies” I’d never heard of, such as
financial literacy, health literacy, and digital literacy. But it all starts
with the ability to read. |
|
It
is called functional
literacy. Obviously, if you
are reading this article, you are on the internet. Which has more information than anyone can
possibly absorb (and is why news literacy is so critical). Now,
imagine if you could not read. All that
information … just sitting there.
Available to others, but not to you. |
|
Books are my great escape. Always have been. So, I can’t
imagine a life without them. |
|
A great escape … in many ways. You may use it to escape from the stresses of
daily life or just as entertainment. But,
books and, more specifically, the ability to read is how people can escape a
life of poverty and limited opportunities.
|
| Working with Jackie made me see that. As did our work with the criminal justice system, as so many incarcerated people struggle to read. And I know you’re a data geek, but please don’t start quoting me statistics. |
| OK, no statistics, but did you know that more people in the US are affected by low literacy (meaning they cannot read at a sixth-grade level) than are diagnosed with cancer or heart disease? |
Over the years, as we’ve learned how many people can’t read (including one in three Houstonians), it’s made us stop and think about how that impacts every aspect of their lives … their families … their communities. And also … our communities and our country.
As former First Lady Barbara Bush said many years ago,
If you help a person to read, then their opportunities in life will be endless.
| I have a confession to make, which I’m sure will make you roll your eyes. |
| Interesting caveat and probably true. |
| Every time we talk with Jackie (Aguilera) from the Mayor’s Office of Adult Literacy and hear what she’s doing in the world of adult education, I feel like I’m back in school and having to take copious notes. |
| I am more than happy to send you “homework assignments” as I come across relevant articles and research. |
| Thanks, but no thanks. I’ll stick to taking notes. But that does explain why you’re so knowledgeable about literacy. |
| But, reading information is very different from being at the forefront of literacy innovation. And, if we had never met Jackie, I never would have realized how literacy is about more than reading and writing. |
| But that alone is such a critical part of all of our lives and can make the difference between struggling and success. Although I never stopped to think about any of that before we met Jackie. |
| The funny thing is we first met her because of financial literacy. |
| Yes, I remember, even though it was over a decade ago. It was shortly after our book was approved as a financial literacy textbook by the (Texas) State Board of Education, and you decided we should go to a Houston Money Week meeting. I didn’t think we were qualified to talk about the topic. |
| I did not feel qualified to decide whether or not we could be of any help until I better understood what they did. |
| That’s why I let you do the talking when “newbies” had to introduce themselves. Plus, I’d have talked their ears off. But after the meeting, this confident but very approachable woman came striding across the room, extended her hand to me, and introduced herself. At the time, she was Literacy Coordinator at EastSide University. |
| All I remember was her energy, commitment, and passion for financial literacy. Not usually a topic discussed with such enthusiasm. |
| There’s an understatement. And not only did it take me by surprise, but I hate to admit it, it was contagious. Especially once we started working with her. |
| Another confession? |
| Maybe. I still shake my head in amazement at the incredibly creative ways she makes personal finance, typically such a “boring” topic, come alive. And how she uses outside-the-box approaches to making learning relevant. |
| But, it is not only financial literacy. It also includes digital literacy, health literacy, and even news literacy and environmental literacy. Which is why I am honored that she asked us to create various “Conversation Starters” she could use at presentations and workshops. |
| I never imagined they could be used to talk about serious concepts in a light-hearted and fun way. Even if she points out how I was a poster child for not being “literate” when it comes to an assortment of life topics. |
| I dislike the term “literacy” because it makes people feel like they are “illiterate” when they do not know something. In reality, they may never have been exposed to the information or given an opportunity to learn it. |
| I can tell you first-hand that, initially, I felt stupid until you pointed out I was merely sheltered. But that’s given me so much more empathy when I think of other people in the same position I was once in. |
| That is why she likes the “Conversation Starters” – they make the topics accessible in a non-threatening way. |
| And helps us realize that literacy impacts every aspect of our lives since it is so much more than reading and writing. Raising awareness of that and talking about it with others, especially our families, can have a huge ripple effect. |
| That is the purpose of September being designated National Literacy Month. |
| September seems the perfect time to learn something new. It’s like being back in school, except you can put the knowledge to work immediately. |
| And, this year, with elections just months away, it is the perfect time to learn about news literacy. |
| Oh, I know better … |