Comments on: Why Lauren Willis Is Wrong About Money

By: Financial Education: Creeping Toward Success - CBS MoneyWatch.com

Financial Education: Creeping Toward Success - CBS MoneyWatch.com — Wed, 20 Jul 2011 11:04:47 +0000

[...] and others make some fair points. Meanwhile, even those who advocate teaching money to kids — despite some 1,400 studies in [...]

By: Donna

Donna — Wed, 09 Feb 2011 01:45:44 +0000

I’m really impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you customize it yourself? Anyway keep up the nice quality writing, it is rare to see a nice blog like this one today..

By: etramway

etramway — Sun, 20 Jun 2010 07:08:21 +0000

There is none…. zero…. nada… evidence that financial education changes behavior. It is a fruitless waste of precious resources. What is a good use of resources is protecting consumers from being ripped off.

For some silly reason we will fund SWAT units to train and carry automatic weapons and fly in helicopters, yet some find it distasteful to outlaw payday lending. Allowing people to commit financial suicide is detrimental to society and should be stopped.

Professor Willis is 100% spot on correct. You may disagree with her on ideology, but the evidence is on her side.
.-= etramway´s last blog ..Is the "Talented Tenth" a myth? Booker T. Washington vs W.E.B. DuBois… the fake rivalry. =-.

By: Pegi Burdick

Pegi Burdick — Thu, 05 Nov 2009 14:12:04 +0000

You are both wrong and right, but are missing the real kernel of truth which is:
The emotional underpinnings that really control people’s financial decisions are damaged and flawed.

In our society, finances have become a tinderbox of emotions.
What was below the radar during the boom has come to the surface in this recession.

Until those deep rooted issues are exposed and healed, the unconsciousness with which most people drift through the day will continue. Only with courage and willingness to look at those old wounds will change ever occur in anyone….about anything.

Self-awareness is the key to inner control and peace.

People think Financial Literacy is about budgets and what to do with your 401K; it is, but it is also about identifying the source of the self-destructive behaviors.

Pegi@thefinancialwhisperer.com…

By: Blake@youngdough

Blake@youngdough — Wed, 03 Sep 2008 15:11:55 +0000

"More intense regulation is not the answer. Financial Education is. I completely disagree with her that it is pointless and a complete waste of money. It needs to be done correctly and it needs to be backed up by parents, friends and relatives." Couldn't agree more. I would be a huge supporter of a movement to get PF classes in our schools, but I can see their limitations. You could preach until you're blue in the face about the basics of managing your finances, but unless the students have parents and friends that convey the same message, it's likely that they won't take anything away from the course. I do agree that something NEEDS to be done though. Blake@youngdoughs last blog post..Summer 2008 Financial Wrap-up

By: Christina

Christina — Wed, 03 Sep 2008 12:11:16 +0000

I think is a personal responsibility to teach yourself. If you are shopping for a mortgage, then you need to know what is out there. There are many resources. I don't think the lender should be the one teaching. Sales people are out there to "close" the deal. That is how they make their money. Common sense says that they won't have your best interest at heart. They have the biggest commission at heart! Christinas last blog post..Top Droppers for August

By: John

John — Wed, 03 Sep 2008 00:40:52 +0000

I agree with you for sure – it needs to be taught and it’s silly to assume that it literally does no good to teach basics such as budgeting.

Budgeting is the most important thing I ever learned, in fact.

Good post!