Our guest expert:
Samirian Hill, The MoneyWise Teacher, is President and Founder of
BudgetWise Financial Solutions, LLC, a financial education and consulting firm, where they teach people to manage money wisely.
Why is financial literacy important to you? Who is your target
My passion for financial literacy stems from my background and experience. Over the past 16 years, I have had the opportunity to work with individuals with their finances. In general, what I noticed
is that many people were uncomfortable around the subject of money, mostly due to the lack of understanding.
Personal finance was not taught in schools, so most of our money management
skills and behavior were primarily learned at home, and very little was shared there.
Fast forward 10 years, information and resources are more readily available,
but the challenges still remain. Financial literacy is important to me because I want to see us collectively move beyond money issues and cycles in order to live out our full potential as
individuals, families, and even as a nation.
My target market is women between the ages of 35 – 55 years old.
What is the impact of “financial illiteracy” on households, communities,
Money is a key contributor to stress, divorces, illnesses, and social ills.
Financial illiteracy may not be the leading cause of these issues, but in some cases, how we manage our money plays a significant role.
Limited knowledge about personal finance concepts, products and services can
lead to poor decision making. Repeated bad decisions lead to consequences like, over extended credit, bankruptcy, and foreclosures. The ripple effects are families stressed; communities stagnated, if
not declining; and a global economy that is leaving our nation behind.
The good news is that we can reverse this impact through education and wiser
decisions making. As I stated earlier, information and resources are accessible.
What is one of the most important conversations that you have had about
math as it relates to financial literacy?
How did math and financial literacy get separated?
To me, financial literacy is a conversation about money and money involves
When the government started promoting financial literacy, they focused more
on understanding the terminology of products and services, such as, purchasing a house or managing your credit.
The real conversation precedes these decisions. It begins with, “how much
money do I make? How much do I actually bring home? How do I plan to spend it, save it, grow it and give it”? To be financially literate is to understand how to apply math to everyday
Share 3 habits and 3 (tech) tools that parents can practice/utliize to ensure
their tweens/teens are financially ready to transition out of the house into the world of college and adulthood.
Good money habits begin at home. 3 tips for parents
- Teach your children how to save money at an early age.
- Engage your children in money transactions. For younger children, you can get
them engage at the grocery store, while teenagers can participate in a large purchasing decision.
These 3 websites are great resources for kids/teens and parents.
- Talk about money with your children.
You host a book club for adults.
What are your thoughts about a book club for youth focused on financial education?
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