From the Minneapolis Star Tribune: Expert hails state's efforts to foster financial smarts
- Article by: JOHN EWOLDT , Star Tribune
- Updated: October 6, 2012 - 5:07 PM
A financial literacy activist says kids need to see how wise handling of money is tied directly to jobs and success.
John Bryant, a member of the President's Advisory Council on Financial Capability, recently told a group of financial literacy stakeholders in Minneapolis that Minnesota ranks at or near the top of states for the success of its financial literacy programs.
Does the country need a Council on Financial Capability? "Most consumers are spending without a financial license," said Bryant, who was invited by Minnesota Department of Commerce Commissioner Mike Rothman to discuss hurdles Minnesota faces. He encouraged Rothman to find new stakeholders at the city and county levels to expand financial literacy.
Rothman brought Bryant to speak to about 130 department reps in education, employment and economic development, housing finance, human services and military affairs. "He understands that kids need more than 'Here's a checkbook and here's an IRA,'" Rothman said of Bryant. "You need to ask children what their dreams are and then frame that in terms of how they build a network, build a business, and support themselves."
Bryant shared some of his observations in an interview after his visit.