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Americans tend to get basic financial questions wrong compared to other Western countries… why is that? And what can be done about it?
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Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.
Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson
Directors: Katie Graham & Andrew Matthews
Written by: Julia Lorenz-Olson
Executive Producer: Amanda Fox
Produced by: Katie Graham
Edited & Animated by: Dano Johnson
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Music by: APM
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I got lessons about money as well as a kid. We even had a dedicated week for it all throughout primary school. It was the one week at school where you had to pay for things (with fake money of course). You could rent play equipment, books that were usually not there, and for the kids 10 and up you could even earn money by helping out toddlers or staying after school to clean up. At the end of the week we had a circus where you could spend it on delicious and fun things.
My parents also taught me a lot. Both are incredibly frugal and love budgeting. We got pocket money that we could spend on whatever we liked, but if we wanted something more expensive we had to save and/or do jobs in and around the house. I got my first bank account at age 12 and my first paper round to put some money in there. I had to pay for my own cellphone, clothing I wanted but didn't need, and other fun stuff. Stupid teenager me liked fun things and saved too little, adult me loves saving (it's so addicting).
I will be a freshman next year and school hasn’t thought me shizen about finances
I am so glad that I attend LUOA because they've got a one semester Personal Financial Literacy class
Finance nor economics is a required course and thus its expected of me to figure this all out on my own. But hey that required art class gave me… a really shitty mug I made back in 8th grade. Yay?
Julia stands on a box? My entire world is crumbling before my eyes.
Why did they use black parents as the examples? We struggled growing up but my parents went out of their way to teach me their concept of financial literacy, which included finding a good job, investing in stocks, and dabbling in cryptocurrency which has made me more money than any job I’ve ever worked. There are so many racial disparities in America but you’re allowed to form your own opinions based on what you know and what I’ve told yoy
It’s more profitable to keep people ignorant
When so much of the economy is based around people borrowing (loans or credit) to purchase stuff they either don't need or can't afford (college degree, car, marriage), it is very easy to forget the fundamentals of budget management.
I learned about finances from YouTube.
I've always been interested in finance so I got an entry level job at an Independent Financial Advisory firm. They paid for my exams to get a diploma in financial planning so I could become a fully qualified and regulated IFA.
I wish people would stop comparing America to some of the smallest countries in the world…. Let's see how much people admire the Netherlands after it's combined population balloons to over 300 million.
It’s so dumb to be financial uneducated, and it’s dumber to think financial education is parents’ job, and you know you are just a pile of shit to any businesses if you are financially educated.
without watching the video poor ppl paying rich oprea has a hosue with over 30 bathrooms YESSSSSS more pooping then enitre homes yet somone poor in a small fly overstate was asking about her new item yets feed the rich
Schools gave up teaching things adults in training need to better citizens and went with social engineering.
Biggest crime here is that this video, after two years being published, only had 233k views.
Best video ever! Fixing this problem is the answer to a lot of this countries problems.
My family was very open about money and financial literally. My parents were candid about hard work, sticking to a budget, and only putting on credit what you could pay off at the end of the month. My financial planning (savings/investment discipline) I learned from both sets of grandparents who grew up either in the Great Depression or in WWII Europe. My granny especially, used to take my brother and I to lunch with her stock broker when we were kids. Some kids played lots of basketball we had the business section and CNBC.
I don't think it is just an American thing. Folks just tend to do what their peers do or what their parents do. That's going to be worldwide. That and the "school of hard knocks".
A little mix of my parents, school, but mostly my husband and his family. I'm still learning.
I learned about money from…
youtube.
Honest question:
Are there any countries whose educational system teach financial literacy?
In my country of Indonesia, the schools DON'T teach it. But Indonesia is not as materialistic as the US, and the general view towards debt is bad.
Big Corp: Wait that's illegal! If you teach them about finance literacy then who will be buying thing they don't need with the money the don't have to please people the don't like a.k.a. apple products, and cars made in american!…. Just kidding, you think you can change the way they think? Whole life of brainwashing and you think a mere puny youtube channel can change their way of life? Murican is doomed.
I came here for entertainment but ended up learning something important
I sing along with the intro 🤡
The slim cause ordinarily suppose because credit proportionately disapprove on a uttermost fowl. horrible, lavish structure
14th place doesn't seem that bad considering there are 200 something countries in the world
Home-ec shouldn't just he about baking cookies and how to iron.
It’s sad that parents don’t even have the knowledge to tell their children “spend less than you earn. Save the rest. Don’t buy what you can’t afford. Don’t buy things to impress others. Don’t go into debt for school or car or credit cards and max out to your Roth and you will be fine.”
the top now in class becasue of the lessons learnt from lisa_upfx
never expected to have come this far if not for lisa_upfx from l' g
i started as a novice but now a master in trading all thaks to lisa_upfx at l'G a very great woman
i was so grateful when i stated trading with lisa_upfx o'n l' g so down to earth and dependable
is the NEW PATREON special budget template still available?
Julia has to stand on a box during filming, and is still 6 inches shorter than Philip lol.
Please establish a financial education series for kids within this channel.
“Since you’re following our channel it’s probably obvious to you that our financial literacy is at crisis levels.” Haha, yeah, because it’s a kids’ show!
You Americans never see the woods from the tree!
Current American hyper capitalist economy needs a lot of stupid people to consume and take up loan as much as it can.
It is not a coincidence that the TOP3 on this list are the leading European "socialist" country. Where the government cares most for the average person. (Universal healthcare, free university…)
Meanwhile the US government cares for the rich and big corporation and profit is the most important of all.