Man Named Bubble Gum

I’m always amazed how teaching financial education is made simplest when it has a face.  While this blog’s theme is “Life enhanced through financial education” also known as LEFTe ™, I was reminded recently that giving must be talked about when teaching financial education.

There was no better picture of this than my sweet mother-in-law. This lady raised five boys, ran a business and recognized the need to purchase property in the 60’s. However, I often heard the story from my husband and his brothers how their mother would on a regular basis set out to take their father his lunch and would show up empty handed.  Her usual response was, “I saw someone that needed it more than you Jimmy, and sometimes that someone’s name was “Bubble Gum”.  

This week while teaching a budgeting class to a group of seniors, the statement was made that charity was indeed a budgeting item for them to consider.  Several students questioned, “If this was something they had to do?” It also appeared when expense seemed to be more than the income, a few students thought of cutting charity first.  I found myself having a hard time justifying their need for a cellphone over giving to their local Church or Charity.  Now, while I firmly believe in tithing to my local Church, it seemed that others attitude of giving was based on individuals not necessity.

As I attended Church that night, the message seemed to verify my thought process that investing in others has to be just as much a part of our financial footprint as saving for a rainy day. Then my husband leaned over and said, “Remember the bicycle” as if to read my thoughts! As I smiled, I recalled attending his sweet mother’s visitation prior to her funeral. Many spoke of the business that she and my father-in-law had owned as well as her personality full of character. However, most recalled her kindness to those less fortunate and the impact she had made on them.  As we left the packed chapel, I noticed a man on a bicycle right outside the door.  I said to my husband, “who is that”?  He simply replied, “that’s Bubble Gum”.   

Amazing Teen

For the past 8 years I have been a banker for the Teen Maze sponsored by the Mitchell County Children and Youth.  I stand behind my designated table with anticipation waiting as the 8^th graders from all over Mitchell County to come to the bank to borrow money.  Students are given life scenarios and presented with life situations based on decisions. Some involve the need to borrow money. 

My routine for the past 8 years has been to ask the student, “why do you need to borrow money and how do you plan to pay me back”. After some discussion, finding a job seems to be the logical answer.  I also give the student a “credit application” which follows with me stating “this is a promise that you will pay me back”.   I then extend my hand, and ask the student to shake on it. I also explain that their credit is a form of “Character”. I remind them they are agreeing to pay the bank back, and I trust them to do what they say they will do.

While my portion of the learning experience is over when the students leave the bank, I have witnessed students continuing through the Maze.  Some step on the stage to receive their high school diploma and I have even witnessed some going to jail and on occasion a few have actually looked at their reflection in a mirror placed inside a coffin.

However, this year I was totally blown away by the return of a PCMS student. As the Teen Maze ended and all the students were leaving, I noticed a big teddy bear looking young man approaching me.  I immediately said, “Do you need more money? to which he replied No’Mam, I became successful and I am here to keep my promise and pay you back”.  My mouth dropped, I just wanted to hug him.   This truly was a first!  Now, I can’t tell you what prompted this 8th grader to come back and do the right thing.  Was this character taught at home or at school? Did I or one of the other presenters say something that made a lasting impression or maybe it was a culmination of many things?  Whatever it was gave me a renewed hope in this generation and even a little pep in my step.  

Yep, I’m ready for next year…Bring It On!

Make Sure They Know

If the real meaning of who we are is built on our belief system, our values and ultimately identifies us as individuals, then when looking around me, I can’t help but wonder what my future generations’ identity will look like.

You may find this hard to believe, but I don’t mean their financial future.  I am concerned that MY future generations will be robbed of a critical part of their family story and face a loss of their family heritage. Simply put, I don’t want our southern culture, and specifically, our core values to deteriorate and disappear forever.

I want my grandchildren to know where they come from.   Now, I don’t mean the part where people assume that because you are from the south that you are backwooded, (southern term) and uneducated.  I’m talking about all that is good and right, like knowing that respect for the elderly is expected and saying please and thank you is not a suggestion.  I want them to know that being kind is never wrong and being mean is never right.  I want them to know that even though their path may take them far away it’s never too late to come home and most of all the faith of their grandmother was real.

I want them to understand the value of community, the benefits that come from it and the best things in life really are free, like riding your bicycle through town and everyone waiving and saying hello. I want them to understand they better “act right” because someone will tell on them.

As we begin a new year, I resolve to make sure I tell them the stories I remember and encourage them to spend time listening to my parents tell their story. I will also remind them that everyone is not replaceable so be careful who you hurt. AND yes, I want them to know the value of a dollar and that having lots doesn’t make you rich just as having little doesn’t make you poor.

Happy New Year!            

I Don't Know Everything

I have come to the conclusion there are basically two sets of people: those of us who don’t know everything and those who don’t know that they don’t know everything. I recently came to this conclusion by several events that transpired on Thanksgiving Day.   One of which happened as I was taking my grandson home; he asked a question I simply didn’t know.  Without hesitation he said, “Let’s google it”. Now, I knew my cellphone had a password protection on it and immediately thought he will need my password as I smiled and handed it to him.  However, what “I didn’t know” was apparently my smart phone password is overridden with the simple placement of my thumb on the home button.  I apparently didn’t know as much as I thought I did.

The second was when I received a message through social media from a non-customer concerning a mishap at our ATM.  Unfortunately, his financial institution was closed, as was ours, for the holiday.  This mishap had caused him to be out $500 and with no way to contact his bank he was given my name and told I might be able to help.  This young man had no “knowledge” of how “banking” rules work, he only knew that he needed his money and someone needed to help.

Through both situations, I learned we can’t possibly know everything. The truth is we are not wired to know it all; we just need to surround ourselves with people that are willing to share their knowledge.

In the case of my grandson, I am so glad I have him in my life; he keeps me technologically up to speed. In the case of the “potential” customer, he truly didn’t know what to do, but he realized he needed to contact someone at the bank.   On a side note, I found out that by listening we learn, and by showing empathy and putting ourselves in someone else’s shoes we too learn.  I wasn’t able to get the $500 immediately, but it did get me a thank you for listening and a really nice bag of fresh picked tangerines.

START "EM YOUNG"

Riding in a car for three hours with two sets of twin grandgirls all age 5 can teach you a thing or two… especially when it comes to football!  Yes, you read that correctly.  Like 65 percent of Americans, my sons-in laws are fans of football and each girl was eager to share their own opinion of what football team was best.  However, one did state she couldn’t pull for the team she loved at home because her dad would kick her out of the house.  Now, why I am certain our daughter would not allow that to happen, I was impressed that she still loudly stated her team of choice over her dads obvious objection to “her” team.

So, how did these girls know so much about football?  They each knew “their” teams fight song, word for word, and definitely didn’t care that their cousin sitting right next to them was cheering (loudly I might add) for a different team.    Now I am aware that 42% of women are also fans of football.  But I am certain our daughters don’t have their fantasy football team lined up. So where does this come from?  

That only leaves me to believe this love and knowledge of the game comes from the men in their lives.  As a grandmother this makes me smile.  Because I am certain having dads with such a passion for something that the enthusiasm extends to little 5 year old GIRLS will extend way beyond football.

As a banker it also encourages me that it is never too early to begin teaching young people, whether it is football or the value of a dollar. As my children say, “Start Em Young”.   It also makes me think maybe I need to invest in football stock!

Just In Time

Once again this morning I read why “just in time” financial education may be too late. While I understand the concept, I never think teaching financial education is wrong.  Just like I think we are never too old or young to learn.

However, I recently found myself wondering if there is a correlation between early financial literacy and real-world financial success. As much as I would like to believe there is, we simply can’t control other factors that might influence financial behavior.

Growing up, in what some might consider poverty, money was only discussed in terms of the “lack of” and “saving money” was never heard of.    However, my siblings and I each have our own unique take on the value of money and what financial security looks like.  While my sister is a risk taker and makes larger sums of money, my brother is very low maintenance and I on the other hand, need and desire financial security.

So, given that we grew up in the same house with the same parents, what influenced our behavior?  Was it the birth order, our peers, our spouses, our career choices or maybe a combination of all? Who knows?

But one thing is certain, children learn by example and then they choose to either follow or lead!  Therefore, I plan to keep educating our future and myself.  Because one day these financially independent young people will determine my healthcare!

LETS PLAY STORE

It brought back memories of my childhood. You know before Nintendo, IPads and shopping online. 

My husband had picked up our twin grandgirls from Pre-K and as I walked in the house, I noticed he had removed all the items from our large coffee table in the den.  On the table he had placed many items the girls play with when coming to our house.  Old pocketbooks, costume jewelry, play cellphones (of course), books, etc.  As I walked by I overheard one say, “how may I help you” to which the other replied, “Yes, I need to buy a pocketbook?”  Since they are 4 years old, obviously the response was a ridiculous amount of money.  As I listened intently and to my surprise they were really enjoying the bantering back and forth about the cost of the items. “Well that is just too much” I overheard “the shopper” say.

I couldn’t wait to ask my husband what all of this was about.  He had decided it was too hot for the girls to play outside and perhaps, being married to a banker and he himself semi-retired from the investment industry, he thought they needed a lesson in how to be polite to customers and to learn the art of buying and selling.  He even stated he had taught them how to politely answer the phone (I immediately thought of people who missed that course).  Apparently “the business owner” was rude upon answering her first call.  So he quickly chimed in with “that is not how you speak to your customer” and then pretending to be the store owner showing the girls “the correct way” to answer the phone!!

What a novel idea, children learning how to be polite on the phone, learning the art of buying and selling, even learning that price tags may be negotiable and to think NO APP was used.   Why didn’t someone think of this before?