Parents: do kids learn about $$$ in school?

[Coronita]

If we can't teach real estate agents, mortgage guys, and politicians basic financial principles, how the heck can you teach kids.

There might be some hope with the elementary school kids who's parents are way over extended now. They will get a front row seat as the financial house of cards comes falling down.

Anyone know if the board game that the 'rich dad poor dad" guy pimps is any good for kids.

 

Oh god. Please don't say you're going to spend $200 on a "board game" just because it has Robert K's name on it to teach your kids about money.

You really don't need these gimmicks to teach people financial literacy. You don't have do be a financial czar to have decent financial skills. I sure as hell am not financially savy, but I do consider myself financially responsible.

Robert K and his Rich Dad/Poor Dad "educational system" really strikes me on the wrong nerve. Anyone that mentions getting one of there products, i usually go on a long diatribe…So here goes. I know some people don't think he's a scam, but I think he's pretty much of a scam. I've posted this in numerous other blogs before (when Robert was a commentator on Yahoo). This guy (no pun intended) appears to get rich by pushing his "educational products" (rather than his initial "rich success" that he so describes), and is successful doing so by pointing out your average financially illerate person what an "idiot" everyone else is, how smart he is (as proof, he copiously mentions his porsche, rolexes, multi-million dollar homes, and how he achieved by throwing away traditional education), and that you should buy his products to get rich. If you ever cracked open any of his products (I recommend going to the library and borrowing one or two of his books, and never actually buying them..Or buy them ,read it, and then promptly return them), he basically says the same thing over and over again: the 4 magic quadrants, which one you should be in, and what it means to cash flow. Most of the message he leaves you is an empty you can get rich too like i did, but if you want to find out, buy my next product XYZ.

If you actually read more than one of his materials (again hopefully you don't actually spend money on them), you would notice very quickly that he is every inconsistent in what he writes. He's say one thing statement in one book about how mutual funds/index funds are "stupid", and then in another book say they are good investments. If you followed his "posts" at Yahoo, he was saying that gold was bad investment in one posting, and then a great investment in another.

The reason for this, i believe, he's a "sideline quarterback historian"…He takes the current economic situation, backtracks on what should have been done based on what is already known as the outcome now, and then writes/tells people how dumb they are for not following the "obvious" path that he followed. Don't believe me, read some of his posts on yahoo when yahoo paid him to produce financial content (yeah, no wonder yahoo is in the toilets).

Also, interesting to note Robert K had a tie in to Amway to market his products. Amway, as some of you might not know ,is an MLM company in a lot of controversial shady business. When in doubt, search both on Google.

http://en.wikipedia.org/wiki/Robert_Kiyosaki

 

Here's the interesting part…

 

Kiyosaki's books and teachings have been criticized for focusing on anecdotes and containing little in the way of concrete advice on how readers should proceed.^[13] Kiyosaki responds that his material is meant to be more of a motivational tool to get readers thinking about money, rather than a step by step guide to wealth. He also says the books are supposed to be "interesting" to people, which precludes involving a lot of technical material.^[14]

There is also disagreement over how blurred the line is between fiction and anecdote in many of his works. Critics believe that Rich Dad is fictional and that Kiyosaki created him as an author surrogate (a literary device). In the past, Kiyosaki has maintained that Rich Dad actually existed, but that he died decades before the book was first published. However, he has never revealed his name or any other identifying information. Attempts by outsiders to determine Rich Dad's identity have not revealed a conclusive candidate, despite the prominence such a wealthy individual would likely have had in Hawaii in the 1950s. In the February 2003 issue of SmartMoney magazine, Kiyosaki appeared to back off his claim that his "rich dad" was a real person, instead stating "Is Harry Potter real? Why don't you let Rich Dad be a myth, like Harry Potter?".^[15]

Former real estate investor and author of books on real estate investment John T. Reed has questioned much of what Kiyosaki has claimed to have achieved. According to Reed, much of Kiyosaki's advice is illegal, makes no sense or is the product of "a rather ignorant, not very bright, novice, investor wannabe". ^[16] He concludes his criticism, saying that "Rich Dad, Poor Dad is one of the dumbest financial advice books I have ever read. It contains many factual errors and numerous extremely unlikely accounts of events that supposedly occurred."

Kiyosaki has also been criticized for being overly repetitious in his teachings. Some consider this a tactic to produce "filler" material in order to make it appear he is covering more material. Kiyosaki claims that this is an intentional teaching style that he feels is important.^{[citation needed]}

Even some of the facts he has offered directly have been questioned. For example, on September 19, 2006, Kiyosaki wrote in a Yahoo Finance article that the NYMEX is an exchange where "… pork bellies,… are traded".^[17] In reality, pork bellies are not traded on the New York Mercantile Exchange.^[18]

ABC ran a 20/20 segment on May 19, 2006 in which Kiyosaki was to advise 3 entrepreneurs on how to make money. They were given $1000 and 20 days to try and make the most money possible. At the end, after mediocre results, the contestants alleged that Kiyosaki never gave concrete advice. "All he [Kiyosaki] does is, I guess, is open your mind to the possibility. He doesn't tell you how to do it." Kiyosaki responds by saying that failure is important to learn. At the end, 20/20 asks, "Does anyone really need 18 books to learn to fail?"^[19]

The Wall Street Journal panned "Why We Want You To Be Rich" by Kiyosaki and Trump^[20] as did Kiplinger's Personal Finance^[21]

Kiyosaki wrote a column in Yahoo Finance in which he blames poverty on laziness. He also implies a religious justification for wealth disparity. "Over the years, I've met many losers who pray to God to give them gold. God helps those who help themselves. Again, the conquistadors may have been killers and thieves, but at least they knew how to help themselves."^[22]

Kiyosaki's boardgames have been criticized for being excessively expensive;^{[citation needed]} US$200 for the most expensive Cashflow 101.

Kiyosaki downplays the importance of traditional and tertiary education in achieving financial success. Studies of the median incomes that come with different levels of education suggest the contrary, such as the one found here.

Kiyosaki has also been associated with "multi-level marketing" companies such as Amway, and in 2000 gave a keynote speech at a Quixtar conference

 

 

I guess the reason why he is so successful is that a sucker is born every minute.

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Another point is I don't want the schools to educate my kids about money, that's my job. It takes enough of my time to deprogram them from the few non academic things the schools do engage in (politics, religion, etc.). I just don't need more to deal with, I can see the word problems now…."Jose is an undoccumented ctizen and he exercised his right as a non citizen to take an interest only neg am loan for 700k based on his stated income from picking avacados for a house he shares with 37 people, how much should the government subsidize to renegotiate his loan?"

Can I just have "four times seven" or something involving jack having seven apples and wanting to give jill some apples, raising children is hard enough without the schools "helping."

Will "the people for a perfect world" stop wringing their hands for a few minutes and stop trying to help, please.

 

LOL. TG's post is an excellent example of why most public schools don't teach this. While some of us think financial education in public school would be a good thing…Some parents don't want this to be taught in school, because they feel finance/money isn't just about math. It has a "family values" aspect to it.(just like religion/politics/etc).

Schools can teach the technical mechanisms but can't teach the "value" aspect of it, because that part is subjective, unless your school has a more specific charter. I respect that, and probably from an educator's perspective, that's the sort of the reason why these curriculums don't exist.

Personally, I wouldn't want my kid have to go through countless brainwashing on religion in school. So I can understand this. While I feel some folks would benefit from formal financial education in school, it's difficult to do in a consistent way that would get all parents to agree on what is acceptable without getting to touchy/feely about things.

 

TG brings up good points: why should you care if someone else goes broke or goes knee deep in debt? Perhaps it's not important in one family when it is in another (though I just wish the gov wouldn't be trying to bailout those that do now that they are). This reminds me of an article I read about a teacher that one time told a student "If you don't take your academics seriously, you're going to end up being a trash collector". The kid replied "what's wrong with be a trash collector, it's an honest living and beat being a dope dealer?" Ah, kids these days. They're much smarter than you and I think.

 

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Another point is I don't want the schools to educate my kids about money, that's my job. It takes enough of my time to deprogram them from the few non academic things the schools do engage in (politics, religion, etc.). I just don't need more to deal with, I can see the word problems now…."Jose is an undoccumented ctizen and he exercised his right as a non citizen to take an interest only neg am loan for 700k based on his stated income from picking avacados for a house he shares with 37 people, how much should the government subsidize to renegotiate his loan?"

Can I just have "four times seven" or something involving jack having seven apples and wanting to give jill some apples, raising children is hard enough without the schools "helping."

Will "the people for a perfect world" stop wringing their hands for a few minutes and stop trying to help, please.

 

LOL. TG's post is an excellent example of why most public schools don't teach this. While some of us think financial education in public school would be a good thing…Some parents don't want this to be taught in school, because they feel finance/money isn't just about math. It has a "family values" aspect to it.(just like religion/politics/etc).

Schools can teach the technical mechanisms but can't teach the "value" aspect of it, because that part is subjective, unless your school has a more specific charter. I respect that, and probably from an educator's perspective, that's the sort of the reason why these curriculums don't exist.

Personally, I wouldn't want my kid have to go through countless brainwashing on religion in school. So I can understand this. While I feel some folks would benefit from formal financial education in school, it's difficult to do in a consistent way that would get all parents to agree on what is acceptable without getting to touchy/feely about things.

 

TG brings up good points: why should you care if someone else goes broke or goes knee deep in debt? Perhaps it's not important in one family when it is in another (though I just wish the gov wouldn't be trying to bailout those that do now that they are). This reminds me of an article I read about a teacher that one time told a student "If you don't take your academics seriously, you're going to end up being a trash collector". The kid replied "what's wrong with be a trash collector, it's an honest living and beat being a dope dealer?" Ah, kids these days. They're much smarter than you and I think.

 

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Another point is I don't want the schools to educate my kids about money, that's my job. It takes enough of my time to deprogram them from the few non academic things the schools do engage in (politics, religion, etc.). I just don't need more to deal with, I can see the word problems now…."Jose is an undoccumented ctizen and he exercised his right as a non citizen to take an interest only neg am loan for 700k based on his stated income from picking avacados for a house he shares with 37 people, how much should the government subsidize to renegotiate his loan?"

Can I just have "four times seven" or something involving jack having seven apples and wanting to give jill some apples, raising children is hard enough without the schools "helping."

Will "the people for a perfect world" stop wringing their hands for a few minutes and stop trying to help, please.

 

LOL. TG's post is an excellent example of why most public schools don't teach this. While some of us think financial education in public school would be a good thing…Some parents don't want this to be taught in school, because they feel finance/money isn't just about math. It has a "family values" aspect to it.(just like religion/politics/etc).

Schools can teach the technical mechanisms but can't teach the "value" aspect of it, because that part is subjective, unless your school has a more specific charter. I respect that, and probably from an educator's perspective, that's the sort of the reason why these curriculums don't exist.

Personally, I wouldn't want my kid have to go through countless brainwashing on religion in school. So I can understand this. While I feel some folks would benefit from formal financial education in school, it's difficult to do in a consistent way that would get all parents to agree on what is acceptable without getting to touchy/feely about things.

 

TG brings up good points: why should you care if someone else goes broke or goes knee deep in debt? Perhaps it's not important in one family when it is in another (though I just wish the gov wouldn't be trying to bailout those that do now that they are). This reminds me of an article I read about a teacher that one time told a student "If you don't take your academics seriously, you're going to end up being a trash collector". The kid replied "what's wrong with be a trash collector, it's an honest living and beat being a dope dealer?" Ah, kids these days. They're much smarter than you and I think.

 

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Another point is I don't want the schools to educate my kids about money, that's my job. It takes enough of my time to deprogram them from the few non academic things the schools do engage in (politics, religion, etc.). I just don't need more to deal with, I can see the word problems now…."Jose is an undoccumented ctizen and he exercised his right as a non citizen to take an interest only neg am loan for 700k based on his stated income from picking avacados for a house he shares with 37 people, how much should the government subsidize to renegotiate his loan?"

Can I just have "four times seven" or something involving jack having seven apples and wanting to give jill some apples, raising children is hard enough without the schools "helping."

Will "the people for a perfect world" stop wringing their hands for a few minutes and stop trying to help, please.

 

LOL. TG's post is an excellent example of why most public schools don't teach this. While some of us think financial education in public school would be a good thing…Some parents don't want this to be taught in school, because they feel finance/money isn't just about math. It has a "family values" aspect to it.(just like religion/politics/etc).

Schools can teach the technical mechanisms but can't teach the "value" aspect of it, because that part is subjective, unless your school has a more specific charter. I respect that, and probably from an educator's perspective, that's the sort of the reason why these curriculums don't exist.

Personally, I wouldn't want my kid have to go through countless brainwashing on religion in school. So I can understand this. While I feel some folks would benefit from formal financial education in school, it's difficult to do in a consistent way that would get all parents to agree on what is acceptable without getting to touchy/feely about things.

 

TG brings up good points: why should you care if someone else goes broke or goes knee deep in debt? Perhaps it's not important in one family when it is in another (though I just wish the gov wouldn't be trying to bailout those that do now that they are). This reminds me of an article I read about a teacher that one time told a student "If you don't take your academics seriously, you're going to end up being a trash collector". The kid replied "what's wrong with be a trash collector, it's an honest living and beat being a dope dealer?" Ah, kids these days. They're much smarter than you and I think.

 

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Another point is I don't want the schools to educate my kids about money, that's my job. It takes enough of my time to deprogram them from the few non academic things the schools do engage in (politics, religion, etc.). I just don't need more to deal with, I can see the word problems now…."Jose is an undoccumented ctizen and he exercised his right as a non citizen to take an interest only neg am loan for 700k based on his stated income from picking avacados for a house he shares with 37 people, how much should the government subsidize to renegotiate his loan?"

Can I just have "four times seven" or something involving jack having seven apples and wanting to give jill some apples, raising children is hard enough without the schools "helping."

Will "the people for a perfect world" stop wringing their hands for a few minutes and stop trying to help, please.

 

LOL. TG's post is an excellent example of why most public schools don't teach this. While some of us think financial education in public school would be a good thing…Some parents don't want this to be taught in school, because they feel finance/money isn't just about math. It has a "family values" aspect to it.(just like religion/politics/etc).

Schools can teach the technical mechanisms but can't teach the "value" aspect of it, because that part is subjective, unless your school has a more specific charter. I respect that, and probably from an educator's perspective, that's the sort of the reason why these curriculums don't exist.

Personally, I wouldn't want my kid have to go through countless brainwashing on religion in school. So I can understand this. While I feel some folks would benefit from formal financial education in school, it's difficult to do in a consistent way that would get all parents to agree on what is acceptable without getting to touchy/feely about things.

 

TG brings up good points: why should you care if someone else goes broke or goes knee deep in debt? Perhaps it's not important in one family when it is in another (though I just wish the gov wouldn't be trying to bailout those that do now that they are). This reminds me of an article I read about a teacher that one time told a student "If you don't take your academics seriously, you're going to end up being a trash collector". The kid replied "what's wrong with be a trash collector, it's an honest living and beat being a dope dealer?" Ah, kids these days. They're much smarter than you and I think.

 

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[La Jolla Renter]

Oh god. Please don't say you're going to spend $200 on a "board game" just because it has Robert K's name on it to teach your kids about money.

Oh God, Sour Grapes, don't get your panties in wad… I don't even have kids yet.

I know how everyone feels about Kiyosaki.  I am asking if anyone has really sat down with kids and played his board game.  Even a blind squearl finds a nut now and then.

Temecguy,  I've always loved that line from caddyshack!!!  I've used it a 100 times in the last 20 years.

 

 

[La Jolla Renter]

Oh god. Please don't say you're going to spend $200 on a "board game" just because it has Robert K's name on it to teach your kids about money.

Oh God, Sour Grapes, don't get your panties in wad… I don't even have kids yet.

I know how everyone feels about Kiyosaki.  I am asking if anyone has really sat down with kids and played his board game.  Even a blind squearl finds a nut now and then.

Temecguy,  I've always loved that line from caddyshack!!!  I've used it a 100 times in the last 20 years.

 

 

[La Jolla Renter]

Oh god. Please don't say you're going to spend $200 on a "board game" just because it has Robert K's name on it to teach your kids about money.

Oh God, Sour Grapes, don't get your panties in wad… I don't even have kids yet.

I know how everyone feels about Kiyosaki.  I am asking if anyone has really sat down with kids and played his board game.  Even a blind squearl finds a nut now and then.

Temecguy,  I've always loved that line from caddyshack!!!  I've used it a 100 times in the last 20 years.

 

 

[La Jolla Renter]

Oh god. Please don't say you're going to spend $200 on a "board game" just because it has Robert K's name on it to teach your kids about money.

Oh God, Sour Grapes, don't get your panties in wad… I don't even have kids yet.

I know how everyone feels about Kiyosaki.  I am asking if anyone has really sat down with kids and played his board game.  Even a blind squearl finds a nut now and then.

Temecguy,  I've always loved that line from caddyshack!!!  I've used it a 100 times in the last 20 years.

 

 

[La Jolla Renter]

Oh god. Please don't say you're going to spend $200 on a "board game" just because it has Robert K's name on it to teach your kids about money.

Oh God, Sour Grapes, don't get your panties in wad… I don't even have kids yet.

I know how everyone feels about Kiyosaki.  I am asking if anyone has really sat down with kids and played his board game.  Even a blind squearl finds a nut now and then.

Temecguy,  I've always loved that line from caddyshack!!!  I've used it a 100 times in the last 20 years.

 

 

[Trojan4Life]

This has become the responsibility of the parent(s), and with the knuckleheads out there today with kids and serious debt, we’re in huge trouble!

We teach our children (9 yrs old and 7 yrs old) about the value of money and why it’s important to save a portion of their money for the proverbial “rainy day.” My 9 yr old has over $6K in the bank, my 7 yr old over $4k. We’ve saved every penny they’ve ever received as a gift and we have a policy of dropping $100 in their accounts on birthdays and Christmas.

My kids wear clothes my wife buys for them at garage sales, which are high-quality clothes that we pay next to nothing for. I mean, my daughter wears Roxy stuff and we typically pay .25 or .50 per item. My son isn’t into labels, so he wears cargo shorts and t-shirts. My wife shops at Target for herself and I buy my work clothes at Ross. I really can’t see a discernable difference in how I look compared to anyone else in the office. I’m wearing Pierre Cardin and other name brands at 1/4th the price of main stores. My kids have these values now as well. My kids will see the way something is priced brand new and say “That’s a rip off.”

It all comes from the parents. Some of you may be 180 degrees out from either a radically conservative or liberal spender, but I would suspect you learned a lesson from their radical ways and decided not to follow their example.

Trojan4life

[Trojan4Life]

This has become the responsibility of the parent(s), and with the knuckleheads out there today with kids and serious debt, we’re in huge trouble!

We teach our children (9 yrs old and 7 yrs old) about the value of money and why it’s important to save a portion of their money for the proverbial “rainy day.” My 9 yr old has over $6K in the bank, my 7 yr old over $4k. We’ve saved every penny they’ve ever received as a gift and we have a policy of dropping $100 in their accounts on birthdays and Christmas.

My kids wear clothes my wife buys for them at garage sales, which are high-quality clothes that we pay next to nothing for. I mean, my daughter wears Roxy stuff and we typically pay .25 or .50 per item. My son isn’t into labels, so he wears cargo shorts and t-shirts. My wife shops at Target for herself and I buy my work clothes at Ross. I really can’t see a discernable difference in how I look compared to anyone else in the office. I’m wearing Pierre Cardin and other name brands at 1/4th the price of main stores. My kids have these values now as well. My kids will see the way something is priced brand new and say “That’s a rip off.”

It all comes from the parents. Some of you may be 180 degrees out from either a radically conservative or liberal spender, but I would suspect you learned a lesson from their radical ways and decided not to follow their example.

Trojan4life

[Trojan4Life]

This has become the responsibility of the parent(s), and with the knuckleheads out there today with kids and serious debt, we’re in huge trouble!

We teach our children (9 yrs old and 7 yrs old) about the value of money and why it’s important to save a portion of their money for the proverbial “rainy day.” My 9 yr old has over $6K in the bank, my 7 yr old over $4k. We’ve saved every penny they’ve ever received as a gift and we have a policy of dropping $100 in their accounts on birthdays and Christmas.

My kids wear clothes my wife buys for them at garage sales, which are high-quality clothes that we pay next to nothing for. I mean, my daughter wears Roxy stuff and we typically pay .25 or .50 per item. My son isn’t into labels, so he wears cargo shorts and t-shirts. My wife shops at Target for herself and I buy my work clothes at Ross. I really can’t see a discernable difference in how I look compared to anyone else in the office. I’m wearing Pierre Cardin and other name brands at 1/4th the price of main stores. My kids have these values now as well. My kids will see the way something is priced brand new and say “That’s a rip off.”

It all comes from the parents. Some of you may be 180 degrees out from either a radically conservative or liberal spender, but I would suspect you learned a lesson from their radical ways and decided not to follow their example.

Trojan4life

[Trojan4Life]

This has become the responsibility of the parent(s), and with the knuckleheads out there today with kids and serious debt, we’re in huge trouble!

We teach our children (9 yrs old and 7 yrs old) about the value of money and why it’s important to save a portion of their money for the proverbial “rainy day.” My 9 yr old has over $6K in the bank, my 7 yr old over $4k. We’ve saved every penny they’ve ever received as a gift and we have a policy of dropping $100 in their accounts on birthdays and Christmas.

My kids wear clothes my wife buys for them at garage sales, which are high-quality clothes that we pay next to nothing for. I mean, my daughter wears Roxy stuff and we typically pay .25 or .50 per item. My son isn’t into labels, so he wears cargo shorts and t-shirts. My wife shops at Target for herself and I buy my work clothes at Ross. I really can’t see a discernable difference in how I look compared to anyone else in the office. I’m wearing Pierre Cardin and other name brands at 1/4th the price of main stores. My kids have these values now as well. My kids will see the way something is priced brand new and say “That’s a rip off.”

It all comes from the parents. Some of you may be 180 degrees out from either a radically conservative or liberal spender, but I would suspect you learned a lesson from their radical ways and decided not to follow their example.

Trojan4life

[Author]

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