Mothers have more influence on their children’s financial habits than they might think. According to a new survey by Market Watch, a prominent US website that provides financial information and business news, moms are the primary money-management teachers in the household.
SamuelFields Consulting (SFCG), a Community eLearning Partner that specializes in financial literacy, is highlighting the financial wisdom that mothers provide to help children plan their financial future. Last Thursday, three inspiring teenage students from Island Academy School appeared on the weekly digital show, 𝙇𝙄𝙆𝙆𝙇𝙀 𝘽𝙔𝙏𝙀 𝙄𝘿𝙀𝘼𝙎, to share money lessons that they learned from their Moms. Sienna Peters, Asafa Donovan and Jai Francis Christopher, discussed how their mothers include them in household money decisions, to teach them the importance of setting goals, saving, budgeting and investing.
On a previous appearance on the show, the youngsters indicated that they routinely set aside weekly allowances, birthday money, cash from chores, or “box hand” to purchase items on their “wishlists”. As part of a financial planning exercise, they were each given $100 by SFCG management, to purchase a Mother’s Day gift based on their mother’s hobbies and interests. The Moms, Lisa Peters, Charmaine Donovan and Euleta Francis, were invited to the “‘virtual stage’ to be recognized and to accept their gifts. They shared personal money lessons from their mothers and grandmothers that have been handed down to their children.
“We are delighted to help honour these special mothers as we celebrate the important role that they play as arbiters of good money values. My mother was influential in teaching me my first money lessons and for instilling good financial habits at an early age. This Mother’s Day initiative reinforces the critical role that mothers play as money management teachers. They have an opportunity to influence not just their children, but also future generations, by continuously improving their own personal financial knowledge and capabilities,” said Megan Samuel-Fields, CEO of SFCG.
To help improve financial literacy among the youth, SFCG will launch the Virtual Youth Opportunities, Lessons and Outcomes (YOLO) Summit on June 5th. This digital learning experience will be a day of education, inspiration, networking and action. The YOLO Video Contest launched under the theme: “You Only Live Once so Make Your Money Count,” is open to young people between the ages of 11 – 30. They are invited to use their creativity to develop an inspiring message about the importance of good financial habits. Contest winners will receive $500.
To Register for the Virtual YOLO Summit, visit: https://bit.ly/3K5C2h0
To listen to the 𝗟𝗜𝗞𝗞𝗟𝗘 𝗕𝗬𝗧𝗘 𝗜𝗗𝗘𝗔𝗦 𝗦𝗛𝗢𝗪: https://youtu.be/wbGGhwVIV2U