MyJobChart.com and Pay Your Family First Join Forces For Kids
The Next Generation To Earn, Budget, Save, Spend and Share Money Wisely
Though the US economy appears to be improving, when it comes to our children, there remains a serious financial crisis. According to many financial organizations, today’s kids are not prepared to deal with personal finances, including creating a budget, managing a savings account, handling loans and understanding basic financial terms.
Trying to teach kids about dealing with money wisely is an enormous task, one that isn’t supported consistently in schools or most homes. In hopes of driving change inside Arizona, two of the state’s leading financial organizations for teaching kids and families about these issues -- MyJobChart.com and Pay Your Family First, -- are teaming up to promote financial literacy, money management and entrepreneurship.
Recent statistics shows that children don’t have a firm grasp of basic financial principles. According to the Pay Your Family First website:
Just 26% of teens understand credit card fees
The average teen thinks that he/she will earn an annual salary of $145,000
76% don’t know if using a check-cashing service is a good choice or a bad one
Only 34% can balance a checkbook
62% of 18- to 24-year-olds are saving very little or nothing at all
32% of college students are “not at all” or “not very well” prepared to manage their finances
“Basic finance is the one thing we all use daily, so why is it more important for a child or teenager in school to learn algebra, chemistry or anatomy?,” said MyJobChart.com Founder and CEO Gregg Murset. “As the world continues to advance into a “cashless society”, schools and parents need to advance as well so our children aren’t left making bad financial decisions because they didn’t know any better. My hope is that this partnership with Pay Your Family First serves as one of the catalysts for this kind of change.”
Through innovative, thoughtful and easy-to-understand programs designed to be immediately applicable in the real world, Pay Your Family First teaches the practical skills that will give a new generation the self-assurance to become masters, instead of slaves, to their money. Pay Your Family First was founded by international financial literacy expert Sharon Lechter, a CPA, mother of three and the New York Times best-selling co-author of Rich Dad Poor Dad and the national bestsellers Three Feet From Gold and Outwitting the Devil. In 2013 she also released Save Wisely, Spend Happily as the first consumer publication from the American Institute of Certified Public Accountants and served as a national spokesperson for the organization’s Financial Literacy Commission.
“The lack of financial literacy throughout Arizona, as well as the nation, is slowly gaining attention but we need more people demanding financial education for our young people,” said Lechter. “I was honored to be asked by Presidents Bush and Obama to support national efforts at financial education through the President’s Advisory Council on Financial Literacy. But my current focus is at home here in Arizona. Our state ranks 7th highest in teen unemployment in the nation and our mission is more opportunities for financial and entrepreneurship education for our youth.”
MyJobChart.com, based in Scottsdale, Arizona, is a free, easy to use, online and mobile job chart and reward system designed to teach, organize and motivate kids to earn, save, share and spend responsibly. Bringing together the latest technology and basic personal finance principles to help parents teach their children responsibility, accountability and how to manage money wisely. In just about three years, MyJobChart.com has grown to more than 610,000 members strong, with kids having completed over 20 million jobs and earning nearly $3 million.
“Money is a life skill,” said Lechter. “Working together with a fast-growing, national organization like MyJobChart.com, we will continue to build momentum for our financial literacy message in order reach more kids, parents, teachers and elected officials. The MyJobChart.com platform provides a great opportunity to teach children to set goals and be accountable. Through earning, savings and spending on the site, children are introduced to financial education on a platform that puts them in the driver’s seat for creating results and it aligns beautifully with our award winning ThriveTime for Teens game as well as the programs we’ve developed. Together, we will be able to cover more ground, and hopefully, help kids become better prepared for the thousands of financial decisions ahead of them.”
VP of Marketing Communications
My Job Chart