How does the media affect your money decisions?

Money not only affects the media, but the media can influence our money decisions. Journalists use words such as ‘crisis’ or ‘storm’ to create emotion. This is true of blogs too, with tools like CoSchedule’s headline analyzer encouraging bloggers to use uncommon, powerful, emotional words. (You may be interested to know that analysing the headline for this post, the word ‘money’ counted as an ’emotional’ word).

But how does this influence occur, and what can we do about it? Some more of the presentations at the Money Talks? conference elaborated on this theme. Continue reading “How does the media affect your money decisions?”

What are apps teaching kids about money?

While both parents and children report schools aren’t doing enough to teach financial literacy, 75% of American parents (and 74% of kids) believe financial apps are ‘a good way to teach [kids] about financial matters’.

Games tied with food as the number one purchase made by kids, followed by toys (tied with clothes). A survey conducted by Australian parenting website raisingchildren.net.au also found that entertainment, toys and games represent the biggest pocket money spend.

But what kinds of lessons might kids be learning from apps?
Continue reading “What are apps teaching kids about money?”

What are toys teaching kids about money?

Last year, I took some photos of my mother’s toy cash register for a blog post. Around the same time, a couple of our friends came to stay with their young daughter. She had a toy cash register of her own (which I also photographed). The two toys looked pretty similar (the newer version had an electronic display, and came with a paper ‘credit card’).

The role of artefacts like games in language development has long been an interest of mine. When I saw these two cash registers, I became interested in the role of toys and games in financial literacy.

Continue reading “What are toys teaching kids about money?”

Where should kids learn about money?

Like language, money is a symbolic system we use to communicate with each other. Kids’ exposure and sensitivity to language begins early, and the same may be true of money. The majority of opinions agree financial education ‘begins with children – the younger the better’. In the last post, we looked at what an important role financial education and family background has in influencing outcomes in life.

But where do – and where should – kids learn about money?

Continue reading “Where should kids learn about money?”