Tag Archives: financial literacy

HBCU Money™ Business Book Feature – Real Life on a Budget


Real Life on a Budget is a practical guide to helping you navigate the waters of money management. It features real life budget advice, practical challenges, actionable steps that will help you map out your journey to living and thriving on a budget.

If you have been struggling with developing, maintaining, and living on a budget, Real Life on a Budget will help you create a system to better manage your finances and will challenge you to stick to your real life budget. Written by popular personal finance blogger, Jessi Fearon (www.thebudgetmama.com), Real Life on a Budget provides Jessi’s real-world budget advice and exercises for every area of managing your household budget. Real Life on a Budget is a powerful tool to help you start living and thriving on a budget.

HBCU Money™ Dozen 7/6 – 7/10


Did you miss HBCU Money™ Dozen via Twitter? No worry. We are now putting them on the site for you to visit at your leisure. We have made some changes here at HBCU Money™ Dozen. We are now solely focused on research and central bank articles from the previous week.


Engie Plans Solar Power Push, Buys Solairedirect For $222 Million l Clean Technica http://dlvr.it/BT7FXJ

“Overfishing is a major threat to the survival of…important populations” l Pew Environment http://bit.ly/1eH8mrI

The ‘Terminator’ technology that’s (almost) here l Infoworld http://ow.ly/PoWoE

How higher education deals with #security threats l CSOonline http://bit.ly/1Hltgnc

#Darkmatter dominates just-discovered galaxies l Scientific American http://ow.ly/PoXms

New pilot with @ENERGY gives #CleanEnergy #smallbiz access to the national labs’ resources l Sandia Labs http://1.usa.gov/1eJKsvQ

Federal Reserve, Central Banks, & Financial Departments

Financial Stress Index rises to highest level since 2013 (but is still below normal stress) l St. Louis Fed http://bit.ly/1RmzX37

Health worker deaths from #Ebola could = rise in maternal mortality similar to 15-20 yrs ago l World Bank http://wrld.bg/PnZSN

9 things to do before bed that will jump-start tomorrow l World Economic Forum http://wef.ch/1NQYJCv

What is the difference between a bank’s liquidity and its capital? l Philadelphia Fed http://ow.ly/PnUcX

Financial literacy resources for teachers l Richmond Fed http://ow.ly/Pp1SL

4 trends accelerating #entrepreneurship in #Africa l World Economic Forum http://wef.ch/1MhEzRA

Thank you as always for joining us on Saturday for HBCU Money™ Dozen. The 12 most important research and finance articles of the week.

HBCU Money™ Dozen 4/27 – 5/1


Did you miss HBCU Money™ Dozen via Twitter? No worry. We are now putting them on the site for you to visit at your leisure. We have made some changes here at HBCU Money™ Dozen. We are now solely focused on research and central bank articles from the previous week.


Can a startup democratize big data apps? l CIOonline http://trib.al/61vRnQ4

Massive China market offers even more upside for Apple l NetworkWorld http://bit.ly/1DNmdCW

What third-party app crashed American Airlines pilots’ iPads, causing delays? l Computerworld http://ow.ly/Mme2m

Containers vs. virtual machines: How to tell which is the right choice for your enterprise l Networkworld http://bit.ly/1JEpDPb

Block Island Wind Farm Set to Start Spinning Next Year l RI Sea Grant http://ow.ly/MmeSx

Broadband is like a river (but not the way you think) l Computerworld http://ow.ly/MmgoS

Federal Reserve, Central Banks, & Financial Departments

Lessons from #Ebola for the world’s #health systems l World Economic Forum http://wef.ch/1G9DzzB

Fannie, Freddie could cost taxpayers $157.3 billion in a crisis l Housing Wire http://hwi.re/9cgjWF

4 #museums that will boost your financial literacy l Council 4 Econ Ed http://buff.ly/1DIiaaV

A theory of what determines market liquidity and how liquidity evolves over time l NBER http://bit.ly/1AlsRyR

Personal saving rate dips to 5.3 percent from previous month’s 5.7 l St. Louis Fed http://bit.ly/1QPLyow

77 out of 155 countries measured do not have adequate poverty data: l World Bank http://ow.ly/Mmis4

Thank you as always for joining us on Saturday for HBCU Money™ Dozen. The 12 most important research and finance articles of the week.

Moms, Daughters, and Money: A Mother’s Story Of Teaching Her Daughter Personal Finance

“Money is the opposite of the weather. Nobody talks about it, but everybody does something about it.” – Rebecca Johnson


Children never cease to amaze me in the way they analyze their world and my daughter is no different. So one day when she says to me, “Momma, how did Tee Tee get rich?” I was driving at the time and almost swerved into the other lane from laughing so hard at my daughter’s question. “Uhh, honey your Tee Tee is NOT rich, who told you she was?”

According to my colorful child with her rose tinted glasses, she understood that my sister was “rich” because she would buy her anything and everything she wanted no questions asked. My daughter continued to explain to me that she was the only person she knew who had two birthday parties a year (my sister also throws her a birthday party), and always gives her “pocket money”.

What my then six-year-old child did not understand, along with most adults was that she needed to save money in order to buy things she wanted and participate in the activities she deemed of value. From as far as I can remember, any money my daughter received went into a traditional piggy bank. I would catch her at times pulling out the money and counting just the bills. The highlight of her piggy bank “audits” would be when she came across a $10 or $20 bill. Trips to the bank to handle our monthly deposits were nothing more than a comedy show. My daughter wanted to talk with the manager to make sure no one would confuse her money from other people’s money.  She “knew” what her money looked like she would often tell the bank associates. They would offer her the Dum Dum lollipops in the candy bowl.  She would take them of course, but then asked if they would put an extra dollar in her account. They thought she was adorable and cute, but she was dead serious.

Trying to explain money and the importance of managing it properly would be a daunting task when it came to my daughter.  She takes everything literally, so I had to be mindful of what I said to her.  So I started my journey about teaching her about money with what I thought was the most important thing to do: Pay yourself first.

I first explained to her that she should save a minimum of 10 percent of any money she receives. We broke everything down in pennies to make it easier for her to grasp the concept or so I thought. I told her there are one hundred pennies in every dollar and that required her to save at least ten cents for every dollar.  Since her allowance is $5 a week, she is required to save $0.50 a week. According to her however, it would take much too long to buy anything with only saving $0.50 a week. Thankfully, she decided she should save more instead of pressing me for a higher allowance – for now. That is when the discussion of wants, needs and wishes came up.  Maslow’s hierarchy of needs: Physiological, Safety, Love/Belonging, Esteem, and Self –Actualization. My daughter’s hierarchy of needs:  Entertainment, Entertainment, Love/Junk Food, and then back to Entertainment.  

It was important to me as a mother to nurture my child to be well rounded.  I started off when she was very young about the importance of charity and her responsibility in her community by allowing her to join me in my various community activities: soup kitchens, neighborhood clean ups, etc.  She would be my “guest” speaker when I met with my high school mentees. I wanted to infuse in her social responsibility without being esoteric; also modeling how and where her money should be spent.  So how do you get a child of a 70’s baby to understand money: Play a round of Monopoly!

When I sat her down to play, I allowed her to be the banker.  I wanted her to understand that it’s a huge responsibility having to “pay” the players the correct amount of money and to stand “guard” of players who needed to borrow money from the bank. (I do not know about your household, but we gave small loans out to keep the game going at times).  Although she was excited about her responsibility as the banker, all she really wanted to do was roll the dice. It frustrated her to no end to have to stop and pay players $200 every time they passed GO, if they wanted to purchase a property, or any other transaction where the game had to pause to handle money transactions. She quickly said, “I don’t want to have to deal with money, I just want to save it and spend it only when I have to.”  Oh, out of the mouth of babies.

Fast-forwarding three years to the age of 9, my child has become a hoarder of money.  Unfortunately, I may have played an unintentional role in that.  My intentions were to teach my daughter the importance of saving money for the future. My daughter’s interpretation became I will save all of MY money while you spend yours.  She is so obsessed with how she can make money she has thought of schemes to outwit the tooth fairy and actually wants to resell her braces back to her orthodontist when her treatments are complete.

We continuously talk about money.  She is sensitive that our lifestyle has changed over the course of the last year. The largest impact of that change is not being able to visit her “Tee Tee” several times throughout the year.  The cost of an airline ticket for a minor to Michigan is not in my budget anymore, however, she could use some of her savings to visit.  When I asked her if seeing her aunt was a want, need, or wish, she looked me dead in the eye and said “I wish to see my Tee Tee, but I NEED my money”.  Oh, out of the mouth of babies.

Nairobi Stock Exchange Launches Investment Challenge For Youth

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One of Africa’s premier stock exchanges is looking to get its youth involved in savings and investing early. It has announced an investment challenge that will start in May and conclude at the end of July. Exercises like this will go a long way to building a pipeline for the country’s financial industry in the future, liquidity to its markets, and financially stable households for a strong middle class in the future. Teams can be one to four members. Below are the details and link to register.

Registration period: Is ongoing.

Competition Period: 1st May 2015 – 31st July 2015

The NSE Investment Challenge 2015 is an online simulation of live trading at the Nairobi Stock Exchange. Each participant will get “Kshs 2 million” virtual startup capital to invest using the NSE real time information for a period of 3 months. The winner will be the team with the highest portfolio value. Prizes are cash prizes,internships at the NSE and certificates.


  • To encourage the culture of thrift or saving amongst the youth.
  • To assist in investing this savings in productive enterprises e.g through the NSE
  • To teach the risks and gains involved while trading at the Nairobi Stock Exchange.
  • To popularize stock trading at the Nairobi Stock Exchange with the Kenyan youth.
  • To enhance financial management and entrepreneurial skills among the Kenyan youth.

To register click here.