Financial Literacy
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 12 October 2020
⏱️ 10 minutes
🧾️ Download transcript
Summary
April might have been financial literacy month, but we celebrate financial literacy all year round on the Jill on Money podcast.
To help us break down the ABCs of financial literacy, we’re joined by Nan Morrison, President and Chief Executive Officer of the Council for Economic Education.
The Council for Economic Education’s mission is to teach K-12 students about economics and personal finance. The goal is to reach and teach every child in every district and school so that they can make better decisions for themselves, their families and their communities.
The global economy has become so complex that the gap between what people know about economics and personal finance, and what they need to know, is widening every day.
Americans are increasingly responsible for their financial future; yet an alarming number lack even basic economic awareness. Only 43% of 12th grade students tested at or above proficient on the most recent National Assessment of Educational Progress economics assessment, and American teenagers fall in the middle of the pack globally in financial literacy.
Many parents are ill-equipped to instruct their children in economics and personal finance, and teachers, too, are often unprepared to impart this essential knowledge.
That’s why more than ever we need to be passionate about educating young people about an economy they will work in, benefit from, and ultimately, inherit.
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https://www.linkedin.com/in/jillonmoney/ https://www.stitcher.com/podcast/jill-on-money"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Transcript
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| 0:00.0 | Welcome to the Jill on Money Podcast. It is Monday, October 12th and on my Google |
| 0:10.9 | calendar it says two things. |
| 0:14.8 | Just want to make sure everyone gets this. |
| 0:16.4 | Columbus Day and Indigenous People's Day. |
| 0:20.1 | So it's both. |
| 0:21.0 | Whatever you are actually celebrating, we wish you a happy, whichever one. |
| 0:28.0 | Now for everyone else, most of you are working anyway because it's not as if offices are usually closed for Columbus Day, but I think some schools are so maybe you're home with your kiddos and this is the way you escape. I hope so for your sake. |
| 0:41.0 | If you've got a financial question and we are part of your escape plan. for your |
| 0:44.3 | escape plan. |
| 0:45.3 | escape plan just send us an email. It's Ask Jill at Jill on Money. |
| 0:49.3 | Ask Jill at Jill on Money.com. |
| 0:49.9 | Ask Jill at Jill on Money.com. |
| 0:53.5 | Okay, let's start with Christine, who says, |
| 0:56.4 | hello, we are three years into a fixed mortgage |
| 0:59.1 | on a second home. |
| 1:00.9 | We're considering switching to an interest-only mortgage. Our small business income has decreased |
| 1:06.7 | due to the current state of the country. We're looking to increase our cash flow, decrease |
| 1:11.1 | our monthly expenses. Would you recommend this path or is an interest-only mortgage? |
| 1:16.7 | Always too much of a risk. |
| 1:18.6 | Christine, it's not always too much of a risk but I need to know more information. I feel like we need to |
| 1:26.4 | understand number one what is the value of the home number two what is the outstanding |
| 1:31.7 | mortgage amount the outstanding mortgage amount? |
... |
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