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"Funny Money" Gets Serious About Teaching Financial Planning
posted by: Garry | September 24, 2013, 04:13 PM   

Americans have been taking a long hard look at debt for years. According to estimates, the average American owes roughly $15,000 in personal debt, and the United States as a whole is $11.3 trillion dollars in debt. American teenagers are the largest consumer group, with an annual income of just $91.1 billion, and an averaging spending rate of $208.7 billion.


With such a large disparity in income and spending, the need for educating teenagers on spending habits is paramount to  future financial stability. However, often the mention of “financial planning” causes instant eye rolling and sudden sleepiness.  Canadian Comedian James Cunnigham  has found a way to capture students’ attention concerning money matters with “Funny Money,” a one-hour presentation about personal finance, specifically for teenagers.

Cunningham covers savings, budgeting, credit, borrowing, and investing in his presentation. He asks simple questions, like how much students will spend on school supplies in a year, a novel question for many students.
“People came in expecting a boring lecture and were surprised that it was so funny,” Cunningham reflected. 

Claire Wheeler was a senior in high school when “Funny Money” came to her school. After learning about compound interest and how to set up a tax-free monthly  retirement savings plans, Claire said, “If you start saving for your retirement fund when you’re 18, the amount you have saved by 60 is staggering.” She continued, “Hopefully I’m on my way.”

“Funny Money” has played to more than 500,000 students at 250 venues. In addition to the video, further resources can be found on their website, including cartoons videos, teaching tools, and financial calculations tools for teens.

Do you teach your students financial literacy? What tools do you use?
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