52:00 minutes (24.96 MB)
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Ordinary families are feeling the effects of America's slumping economy, and parents are asking,can we do a better job teaching kids about money?
Talking with kids about money is nothing new, but nowadays, youngsters have more money to spend, more pressure to spend it and a greater need for adults to guide them in the basics of personal finance.
Last month, on the same day that President Bush signed the 150 billion dollar economic stimulus package, the US Treasury Department held its first meeting of the Presidentâ€™s new â€œAdvisory Council on Financial Literacyâ€ Members of this national council will be looking at ways to increase access to financial education - both for adults, and for students.
Today we focus on kids and money, Kids need guidance on the basics of personal finance. And - thatâ€™s always been true. But todayâ€™s financial world is so much more complex â€“ there are so many more ways to make money â€“ and at the same time, so many more ways to get into debt, serious debt, fast.
The author of â€œRaising Money Smart Kidsâ€ is with us. Her book has been called â€œthe financial version of Dr. Spock.â€
And Connecticutâ€™s State Treasurerâ€™s office offers programs to help youngsters understand how to budget and save, how credit cards work and lots more.Connecticut Assistant
Treasurer for Policy, Meredith Miller joins us in the studio.
To see pictures of Where We Live's in-studio guests, please go to our Flickr page.
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