What would the world be like if kids graduated high school understanding how money works and how to take control of their personal finances? It’s a question Lorne Jenkins, CEO and founder of Mini Money Management, is trying to answer with his microlearning financial literacy lessons and workshops for students.
Lorne’s path to entrepreneurship and financial literacy was not planned. He just knew from a young age that he wanted to make a positive impact and do something good. He studied business and economics in the U.S. before earning an MBA in the U.K., where he started working as a foreign exchange broker.
“Throughout my journey, I kept seeing how many people were uneducated about finances,” he says. “When I worked in finance, I realized the industry was neutral. We weren’t hurting people, but we weren’t helping them, either.”
Three years ago, he decided to start helping. Since then, Mini Money Management has worked with teachers and nonprofits to help educate nearly 2,000 students about money.
In today’s episode, Ana and Jamie speak to Lorne about his own early money lessons, why it’s so hard for teachers to tackle money and the importance of showing kids – and adults – how money fits into their everyday lives.
- Kids have an emotional response to money as early as the age of 5.
- Once you personalize money, you can have a conversation about budgeting and how it can lead to the lifestyle you want.
- Kids who grow up without money think they are never going to have it, while kids who grow up with money think it’s always going to be there. You have to figure out where kids are starting from so you know what you have to teach them.
“If we can get to the point where money education is the same as math education, then people could go make the impact they want to have on the world.” – Lorne Jenkins
Disclosure: Ana is working with Lorne on a Mini Money Management program.
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