Money Tips for Teens & Young Adults (with Stacey Zrihen at HAFTR)

Kosher Money

Living Lchaim

Frum, Eli Langer, Management, Jew, Judaism, Religion & Spirituality, Business, Finances, Orthodox, Jewish, Careers

5 • 781 Ratings

🗓️ 20 June 2022

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

One question we often get asked is: Can schools teach our children about financial literacy?

Well, the Kosher Money team set out to speak to seniors at HAFTR (Hebrew Academy of the 5 Towns) in Cedarhurst, NY to learn more about what schools are and are not teaching, how these young adults view money and to share tips and tricks with the future leaders of the Jewish people.

Stacey Zrihen, a certified financial planner and expert budgeter, joined us at the school and shared her always-enjoyable insights.

To reach Stacey, email [email protected]

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00:00 Intro

1:47 Welcome to HAFTR

2:48 Meet Stacey

3:03 Classes Taught & Not Taught in High School

4:25 Is High School Too Early to be Discussing Money?

6:15 Young Business & Learning the Value of Saving

8:25 College Abroad & Allowances

11:20 Educating Schools & Parents on Importance of Financial Literacy

13:16 Credit Card Debt, BNPL & Amazon

17:21 Money Advice for Singles

19:45 Sponsor Message

22:49 The Magic of Compounding

24:35 How to Grow Money

26:12 Taking Pulse of Room

27:12 Practical Money Management Tips

30:12 The World of Taxes

32:46 Checking vs. Savings

34:37 Get a Free Pushka!

36:48 Student Loans

39:10 The Importance of Budgeting

42:45 Spending Strategies

44:10 Debt: Bad AND Good?

46:10 Subscriptions

48:24 Interest Rates

49:20 Budgeting Apps

50:30 Building Credit

52:10 Parting Message

54:36 Outro

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Transcript

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0:00.0	Anyone who's ever struggled with a difficult class in high school often wonders, will I ever actually use this stuff after I graduate?
0:08.7	And after graduation, students probably won't dissect a frog or need to know what E means and E equals MC squared.
0:16.6	But one thing's for sure. They're going to need to know how to handle their money wisely and the sooner the better.
0:21.8	Our friends over at Living Smarter Jewish actually came out with a curriculum for high schools and schools to teach financial literacy.
0:30.0	And that's why I'm excited about this week's episode.
0:32.7	We went to visit Hafter, a high school in the five towns in Long Island to talk to dozens of
0:41.9	high school seniors about money. We sat down with Stacey's Rehan, who was an amazing episode
0:49.7	earlier in season one, where we spoke about the power of budgeting.
0:54.9	And we had an open conversation with the children talking about money, how they view money,
1:00.0	what they're taught in school, what they're not taught in school.
1:03.2	And I think it will be eye-opening.
1:05.0	There are a variety of studies that indicate that individuals with higher levels of financial literacy make better, obviously, personal finance
1:13.9	decisions.
1:15.1	And we're going straight to the source.
1:16.9	We're going to the schools.
1:18.1	So without further ado, I give you Stacey and the boys and girls at Hafter.
1:26.5	Being a Jew, awesome.
1:28.7	Managing personal finances, not so awesome.
1:32.2	Welcome to Kosher Money.
1:34.5	Okay, hi, how are you?
1:36.6	We've never done a live recording in front of a guest audience.
1:40.2	For those listening on the podcast,
	...

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