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From freeing women and children from the sex trafficking industry, to transforming the way we do business and interact with others, these leaders of transformation will inspire and equip you to be the difference maker and world changer you were born to be.

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Jan 23, 2019

How do we address the financial illiteracy issue in the US?

Paul Vasey taught Business Studies successfully in the UK to high school and junior college students for 12 years. He ran his own department, wrote articles for a number of publications, had a teaching resource published in the UK and mentored trainee teachers. After many years within the school system, he decided to take his love for financial education beyond the classroom.

He currently lives in Southern California and is building his educational business www.CashCrunchgames.com, designed to address the financial illiteracy problem through gamification; turning the have-nots into the haves and establishing money confidence in the next generation.  

Paul’s CashCrunch Games are made for the classroom but also for the home, where families can play and learn together. In today’s episode we discuss the myth of retail therapy, where mindfulness and money meet, how to avoid the lure of credit card debt, and why financial literacy must be valued and taught within the school system.

Key Takeaways

  1. Personal finance is an underrated overlooked life skill.
  2. Money is simple. Don’t spend what you don’t have.
  3. You can only spend a dollar once. Don’t try to spend it more than once.
  4. Save first to spend later.
  5. Be aware of your own money rather than try and live up to other people’s money.
  6. The earlier we teach money matters to kids the better.
  7. It’s easier to spend money than it is to earn it.

Resources

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