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What's been going on...

Maura Hennigan invited StartMoneySmart on as a guest!

Webb-Davis with Maura Hennigan

Maura Hennigan is the Clerk Magistrate of the Suffolk County, Massachusetts Superior Court Criminal/ Business Division and hosts her own weekly talk show on the BNN Network. She invited Jameel Webb-Davis on for a half hour interview to discuss Start Money Smart and the services it offers. It was a wonderful opportunity and a lot of fun!

Jameel Webb-Davis is the instructor for CWE's summer Wi$e Up Finance Workshop.

The Center for Women and Enterprise asked Jameel Webb-Davis to be an instructor for this summer's Wi$e Up Finance Literacy Workshop. The classes were held in Worcester, Mass, Providence, RI, and downtown Boston. The class featured instruction via video conference to the other locations, covering topics like Buying your First Car, Managing Credit Cards, and Saving for the Future. The combination of workshops, self-study and on-line modules gives teenagers the knowledge and tools so that they can make smart money choices. Learn more about the Wi$e Up Program.

What's coming up...

StartMoneySmart will be offering workshops at the Arlington Enrichment Collaborative.

The Arlington Enrichment Collaborative (AEC) is a program devoted to the notion that middle school kids need a safe, fun, and enriching place to be after school.

AEC offers a diverse range of project-oriented learning, as well as time and guidance for homework and projects that originate in school.

Start Money Smart will offer weekly workshops to the students and their parents starting in September of this year. Click here for more information on the AEC.

See what's new on the website!

  • Support Start Money Smart by making a donation on-line! Click here for more information.
  • MJOrganizers has its own separate website focused at helping small business owners and organizations stay financially organized! Check it out!
  • Review other organizations with financial literacy information, tools for parents, and articles to review. Check out our new Resources link.
  • Our Blog is coming soon - all your seminar questions answered!

Quick Links...

Are your kids ready for school...
...is SCHOOL ready for your kids!

How much financial literacy is taught in your kid's school?

  • How to maintain a checking account?
  • How do credit cards work?
  • What will come out of their paychecks?
  • How to stay organized so bills get paid?

Most schools don't teach this information. Don't assume your kids will learn it automatically.

Ask your child's school to contact Start Money Smart for a workshop today!

"What should I teach my kids about personal finance?"

This question is what most parents should be asking themselves, because the truth is, their kids most likely are not going to learn it in school.

Many parents feel that if they teach their kids to save and they make sure their kids don't spend too much money, they'll be okay. Don't assume that if your kids get a good education, and then a good job and a good salary, they'll understand how to manage their money. Financial literacy is more than the accumulation of money.

So what are some ways parents can teach kids financial literacy? This will be topic for the next several newsletters...


Keep your kids on an allowance! Every time I talk to a group of kids I ask how many of them are on an allowance, and very few raise their hands. We've moved away from this very informing practice! Kids need to be kept on an allowance, because it teaches them how to budget their money.

If your child is over the age of 12 (and in many cases, even younger), you're probably giving them money for various activities daily. Figure out how much they spend on a weekly basis, and come up with a flat amount to give them as a weekly or monthly allowance. Let them be responsible for paying for their lunches and snacks, having money for mall trips, and paying for school related activities, like dances.

If they spend all their allowance on some new video game, and don't have enough left to buy lunch at school, let them learn that they'll have to pack a lunch or they won't eat! Giving an allowance forces kids to think about their future (even a weekly future). They'll have to plan for upcoming expenses and resist temptation to buy things they don't need. They'll also learn the benefit of not spending and saving for a big purchase in the future.

Do your kids spend a lot on the internet, downloading music, games, and screensavers? Do they run up phone bills text messaging friends? That should be part of their allowance as well. Don't give them your credit card number. Pre-paid debit cards are a great tool to help your kids learn to control their spending in today's cashless society.

Giving your child a certain amount every week on a pre-paid debit card is a great way to implement an allowance. You can buy pre-paid debit cards and phone cards in local drug stores like CVS. There are several pre-paid debit card programs designed just for teens. Many have great tools for parents to allow them to monitor their child's spending and continually load money on the card. However, many charge fees for these services so read the fine print carefully. Learn more about these programs on our Resources link.

Start Money Smart offers workshops for adults, parents, and teenagers that address these and other topics regarding financial literacy. Check out our website for more information.

Next month...
Teach your kids the value of money, by getting them involved with the household bills.