Here’s how the super rich teach their kids about money

Robert Daly | Caiaimage | Getty ImagesWhen it comes to teaching kids about money, the super rich are different from average Americans. It’s also because money is something that many of them would rather not talk about, said Rich Morris, co-author of the book “Kids, Wealth and Consequences.” The end goal is to make sure kids are learning about how to be responsible and have a healthy attitude about money. Boudewyn suggests helping younger kids with things such as counting money, talking about the


Robert Daly | Caiaimage | Getty ImagesWhen it comes to teaching kids about money, the super rich are different from average Americans. It’s also because money is something that many of them would rather not talk about, said Rich Morris, co-author of the book “Kids, Wealth and Consequences.” The end goal is to make sure kids are learning about how to be responsible and have a healthy attitude about money. Boudewyn suggests helping younger kids with things such as counting money, talking about the
Here’s how the super rich teach their kids about money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-26  Authors: michelle fox
Keywords: news, cnbc, companies, teach, wealth, super, money, heres, rich, family, financial, start, personal, plan, boudewyn, children, kids


Here's how the super rich teach their kids about money

Robert Daly | Caiaimage | Getty Images

When it comes to teaching kids about money, the super rich are different from average Americans. But it’s not only about the amount of wealth they have. It’s also because money is something that many of them would rather not talk about, said Rich Morris, co-author of the book “Kids, Wealth and Consequences.” “For the most part, money is a taboo subject in this society and wealthy people do not do all the things they need to do,” he said.

It requires more intention than ever and really an active action plan, a proactive plan. Arne Boudewyn Abbot Downing

They may also turn to financial professionals to do the job for them. Arne Boudewyn, who leads the Institute for Family Culture at Abbot Downing, said his group is often asked to interview clients’ adolescent and young children to “find out what’s on their minds” or to educate them without the influence of family dynamics. The end goal is to make sure kids are learning about how to be responsible and have a healthy attitude about money. “Parenting is hard no matter what,” Boudewyn said. “Add significant wealth, there are some things you have to think about.”

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On top of that, many parents think their children are learning personal finance in school — when in reality, that’s not usually the case. Only 17 states require that high school students take a personal finance class, according to a 2018 survey by the Council for Economic Education. “There is a big disconnect, and that extends to the affluent and ultra-high-net-worth people,” Boudewyn pointed out. “People think more is getting passed along to their kids than actually is.” “It requires more intention than ever and really an active action plan, a proactive plan,” he added. That means implementing a strategy that starts when your kids are young. And it isn’t always just applicable to the wealthy — everyday Americans can also apply many of the strategies in their financial teachings.

The big picture

The No. 1 thing wealthy parents have to do is talk to their kids about money — how much wealth the family has, their plans, how they built their wealth and whether they plan on leaving the kids anything in their will or if their children are going to be on their own, said Morris. It’s not just one single conversation, he added: “It’s conversations often and at every age and every maturity.”

Ages 5-9

Sasi Ponchaisang / EyeEm | EyeEm | Getty Images

Parents should start with teaching a basic understanding about money and communicating what their family’s values are when it comes wealth. That can be explaining what it costs to buy something and what the family’s annual spend is, say, on something like school activities. Boudewyn suggests helping younger kids with things such as counting money, talking about the history of money and giving them a tour of the state’s Federal Reserve bank or any local bank. Also, he suggests having them divide their allowance into savings, spending and giving. Even basic investing principles can be introduced — such as explaining what a stock is and what it means to have equity in something, he said. More from Personal Finance:

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Ages 10-14

At this age, it’s a good idea to talk about budgeting basics, said Boudewyn. Children can be introduced to banking and taught how to manage their own financial lives. Taking a little bit of a deeper dive into investing basics is also a good idea. You can give your kids a small amount of money to invest, or you can create a mock investment account that they can build and manage over time, he said.

Ages 15-17

The core topics in the later teen years should be around budget management. “They should be getting ready for life on the road,” Boudewyn said.

Whether they are going to leave home for college or a job, teens should start to understand about the dos and don’ts of renting an apartment, buying a car and handling a roommate situation. They should also learn how to manage their money, know the pros and cons of credit cards and have an understanding of their credit rating.

Ages 18-21

As your children turn into young adults, they should start to understand personal investing and understand their risk tolerance. They should also set personal financial goals. That includes “really thinking about how can I start to set aside money for taking care of myself in the future,” said Boudewyn. Young adults can also use the family enterprise to start learning about wealth opportunities in the context of running a business, he added. That can mean pulling them into the business meetings and giving them an overview of the enterprise.

Ages 22 and up

Twenty20

At this age, your offspring may be thinking about whether they should rent or buy a home. If they are buying, they need to understand mortgages and how they want to borrow and how they can preserve their cash. They should also start to review their credit report and think about their experience with debt management. For the children of the wealthy, this is also an opportunity to give back. Because their family’s wealth is assured for the next several generations, many like to look at how they can improve the world. They can also take a job at the family business, Boudewyn said.

The bottom line


Company: cnbc, Activity: cnbc, Date: 2019-04-26  Authors: michelle fox
Keywords: news, cnbc, companies, teach, wealth, super, money, heres, rich, family, financial, start, personal, plan, boudewyn, children, kids


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Make sure your kids grow up smart about money with these strategies

Adults, who have learned from experience about irresistible sales pitches, can find it hard to make good financial decisions. Is it reasonable to expect a first-grader to understand the future consequence of present decisions? In fact, you can teach kids to understand money, whether they’re 3 or 13. After all, the family is the first place most of us learn about money. Over a third of respondents in the Invest in You Savings Survey said their financial role model was a parent.


Adults, who have learned from experience about irresistible sales pitches, can find it hard to make good financial decisions. Is it reasonable to expect a first-grader to understand the future consequence of present decisions? In fact, you can teach kids to understand money, whether they’re 3 or 13. After all, the family is the first place most of us learn about money. Over a third of respondents in the Invest in You Savings Survey said their financial role model was a parent.
Make sure your kids grow up smart about money with these strategies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: jill cornfield, source, wendy juvenal mays, nicholas hartford, -thomas henske, cfp, lenox advisors
Keywords: news, cnbc, companies, kids, parent, future, money, understand, sure, wideeyed, theyre, financial, survey, teach, grow, strategies, usadults, smart


Make sure your kids grow up smart about money with these strategies

Money is big, and it’s all around us.

Adults, who have learned from experience about irresistible sales pitches, can find it hard to make good financial decisions. Imagine what it’s like for a wide-eyed 8-year-old to confront a dizzying array of choices. We know what can happen in the future if we don’t save.

Is it reasonable to expect a first-grader to understand the future consequence of present decisions?

In fact, you can teach kids to understand money, whether they’re 3 or 13.

And who better than you to deliver these lessons? After all, the family is the first place most of us learn about money. Over a third of respondents in the Invest in You Savings Survey said their financial role model was a parent. Men had a slight edge as the go-to parent: 19% of participants said it was their dad, and 18% said it was their mom.

Thomas Henske, a certified financial planner with Lenox Advisors, likes this metaphor.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: jill cornfield, source, wendy juvenal mays, nicholas hartford, -thomas henske, cfp, lenox advisors
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If you are a ‘Game of Thrones’ fan, this app will teach you how to speak in High Valyrian

While only one character can speak native High Valyrian on “Game of Thrones,” viewers nationwide are picking up a few words and phrases from an unlikely source: Duolingo, the free language-learning app. High Valyrian isn’t the only fictional language Duolingo has to offer. That’s not the case when it comes to High Valyrian, where Peterson is a contributor and develops the courses for free. The origins of High Valyrian come from the book that inspired the show, written by George R.R. While users


While only one character can speak native High Valyrian on “Game of Thrones,” viewers nationwide are picking up a few words and phrases from an unlikely source: Duolingo, the free language-learning app. High Valyrian isn’t the only fictional language Duolingo has to offer. That’s not the case when it comes to High Valyrian, where Peterson is a contributor and develops the courses for free. The origins of High Valyrian come from the book that inspired the show, written by George R.R. While users
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Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: noah higgins-dunn, source, george kavallines
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If you are a 'Game of Thrones' fan, this app will teach you how to speak in High Valyrian

“Skorverdon zaldrīzoti Daenerys ēza?”

Translation: How many dragons does Daenerys have? It’s not a ridiculous question if you’re a fan of the HBO hit series “Game of Thrones,” which returns for its eighth and final season on Sunday. The language? It’s called High Valyrian, the tongue of the ruined Valyrian Freehold empire, and it’s one of four languages created by linguist David J. Peterson spoken on the show.

While only one character can speak native High Valyrian on “Game of Thrones,” viewers nationwide are picking up a few words and phrases from an unlikely source: Duolingo, the free language-learning app.

Duolingo first offered lessons in High Valyrian in 2017 and, since then, 1.2 million people have started the course. In the last two weeks leading up to the premier of the final season, Duolingo has seen a near 65% increase in people taking the course, said Sam Dalsimer, a spokesman for Duolingo.

High Valyrian isn’t the only fictional language Duolingo has to offer. Star Trek fans can find Klingon, a language constructed by Marc Okrand and centered around spacecraft, warfare and weaponry.

To offer languages on Duolingo, the company usually relies on hundreds of volunteers and employees to develop course material and monitor users’ experiences. That’s not the case when it comes to High Valyrian, where Peterson is a contributor and develops the courses for free.

“We teach over 30 languages and most have thousands of people who speak them and are capable of helping us teach them.” Dalsimer said. “There’s only one person on planet Earth who knows the language, and that’s David Peterson.”

The origins of High Valyrian come from the book that inspired the show, written by George R.R. Martin. Peterson won a contest to develop the more common language used on “Game of Thrones” called Dothraki but was asked to build High Valyrian later in the series. His goal was to create a classic language that could give birth to many others, similar to Romance languages, and Peterson noted it had to fit with the names Martin created for the book, such as Daenerys, Viserys and Rhaella.

There are now 824 words of High Valyrian that users can learn on Duolingo, and that number continues to grow. Peterson said there are now 2,000 words in the full version of the language he maintains.

“With every single language I create I keep working on it for the rest of my life or until I’m not happy with it,” said Peterson, who has created more than 50 languages. “It will basically just be another one of my languages, it’s not like it’s going to get any special treatment.”

When Peterson first encountered Duolingo, he felt it could revolutionize the way people learned languages. It had a great interface, it was free and, as a linguist, it’s the dream for people like him to create languages people would have access to, although he didn’t foresee how popular High Valyrian would become.

Today, High Valyrian has 822,000 active learners, or those who have used the course in the last 12 months. That’s more than Czech, Norwegian, Vietnamese and Hungarian.

“I imagined it would attract casual interest, but I never imagined there would be that many people who would actually be interested in taking the course,” Peterson said.

There is one statistic Peterson is particularly proud of: 44% of users who came to Duolingo to learn High Valyrian went on to practice other languages. While users may not perfect High Valyrian, Peterson sees the language as a “gateway drug” to learners discovering other cultures.

“As we become more economically focused, people view language as a tool as opposed to an art piece in and of itself or cultural history,” Peterson said.

More than 40% of the world speaks one of eight languages, although there are more than 7,000 worldwide. UNESCO, The United Nations Educational, Scientific and Cultural Organization, has labeled 2,680 languages in danger as it celebrates the International Year of Indigenous Languages, designed to raise awareness to disappearing languages.

“It’s nice that the UN is putting this emphasis on indigenous languages because people need to start addressing this issue,” Peterson said. “We’re losing them and we’re losing them quickly, and once they’re lost, they’re lost.”

Duolingo has worked with communities and volunteers like Peterson to develop courses in endangered languages, such as offering lessons in Hawaiian, Irish and Navajo, Dalsimer said.

“Those courses are driven entirely by volunteer contributors and for them it’s more about a desire to preserve their language and their culture because they see it as being endangered, and it is,” Dalsimer said. “Languages die every year and Duolingo can help them preserve it.”

More from CNBC Disruptor 50:

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“I remember thinking that if David Peterson ever taught the ‘Game of Thrones’ language I would definitely check it out,” said Andrew Feinberg, a volunteer for Duolingo who has used the app since its beta version nearly seven years ago.

Except when Duolingo announced it would offer High Valyrian courses, Feinberg thought it was a joke. He helped Duolingo develop its Norwegian and Japanese platforms, and he’s witnessed the company’s pranks in the past, like when it offered pirate and zombie languages.

But Feinberg noticed the only contributor to the course was Peterson. That’s when he realized it wasn’t a joke.

Peterson, dubbed by the Los Angeles Times as “Hollywood’s go-to language guy” has created languages for many film and television projects, including the movies “Thor: The Dark World” and “Doctor Strange.”

“I had sort of stalked him on YouTube and watched all those videos on how he created those languages,” Feinberg said. “I was really excited for it. I knew that he was a serious linguist who had complimented Duolingo before.”

Now Feinberg manages learning groups on Facebook for Japanese, Chinese, Norwegian and, a day after its introduction, High Valyrian, which has amassed over 200 members learning alongside Peterson himself, who encourages people to use and develop the language in conversation with each other even if that means moving beyond what he imagined.

“It’s always a little different since I did create High Valyrian and, in a sense, there is an arbiter to determine what is right and what is wrong,” Peterson said. “But as long as I’m here I feel like not only do I want to, but I should be there to try to help people out.”


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: noah higgins-dunn, source, george kavallines
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There’s a retirement crisis in America where most will be unable to afford a ‘solid life’

It’s financial literacy month, do you know where your retirement is? Americans can sure use help with retirement. Baby boomers, in particular, have not saved nearly enough for retirement. They’re going to live longer than they think, and if trends continue, many will run out of money before they die. Just look at the state of the three “legs” of the retirement “stool:” private savings, pensions, and Social Security.


It’s financial literacy month, do you know where your retirement is? Americans can sure use help with retirement. Baby boomers, in particular, have not saved nearly enough for retirement. They’re going to live longer than they think, and if trends continue, many will run out of money before they die. Just look at the state of the three “legs” of the retirement “stool:” private savings, pensions, and Social Security.
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Keywords: news, cnbc, companies, think, sure, solid, financial, stool, theres, unable, america, life, theyre, crisis, trends, teach, today, afford, retirement, month


There's a retirement crisis in America where most will be unable to afford a 'solid life'

It’s financial literacy month, do you know where your retirement is?

CNBC Chairman Mark Hoffman rings the NASDAQ opening bell today to kick off the special month, created in 2003 to teach Americans how to establish and maintain healthy financial habits.

Americans can sure use help with retirement. Baby boomers, in particular, have not saved nearly enough for retirement. They’re going to live longer than they think, and if trends continue, many will run out of money before they die.

Just look at the state of the three “legs” of the retirement “stool:” private savings, pensions, and Social Security.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: bob pisani, bread, butter productions, getty images
Keywords: news, cnbc, companies, think, sure, solid, financial, stool, theres, unable, america, life, theyre, crisis, trends, teach, today, afford, retirement, month


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His parents wanted him to get a corporate job, until he made $154,000 in one year

After graduating from the University of Wisconsin-Madison in 2013, he told his parents he would move to South Korea to teach English. “A double degree from a major university and he’s running off to teach English?” recalled his father, Danny, as he spoke of his son’s career choice after obtaining Economics and Entrepreneurship double major degrees. “At first, it was hard to convince my mom and my parents that I’m going to do this full time,” Drew told CNBC Make It. “My mom’s like, ‘When are you


After graduating from the University of Wisconsin-Madison in 2013, he told his parents he would move to South Korea to teach English. “A double degree from a major university and he’s running off to teach English?” recalled his father, Danny, as he spoke of his son’s career choice after obtaining Economics and Entrepreneurship double major degrees. “At first, it was hard to convince my mom and my parents that I’m going to do this full time,” Drew told CNBC Make It. “My mom’s like, ‘When are you
His parents wanted him to get a corporate job, until he made $154,000 in one year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: uptin saiidi, courtesy of drew binsky
Keywords: news, cnbc, companies, going, parents, traditional, teach, corporate, drew, major, told, hes, english, job, wanted, 154000, university


His parents wanted him to get a corporate job, until he made $154,000 in one year

He’s known to millions as Drew Binsky.

While his career path is far from traditional, Drew made a name for himself in just two years — transitioning from being an English teacher and blogger, to creating short travel videos that have generated more than 500 million views online.

After graduating from the University of Wisconsin-Madison in 2013, he told his parents he would move to South Korea to teach English. “A double degree from a major university and he’s running off to teach English?” recalled his father, Danny, as he spoke of his son’s career choice after obtaining Economics and Entrepreneurship double major degrees.

Last year, Drew said he made more than $154,000 in income through advertising revenues from Facebook and YouTube, along with brand partnerships with companies such as Booking.com, which use influencers to help promote their business.

“At first, it was hard to convince my mom and my parents that I’m going to do this full time,” Drew told CNBC Make It. “My mom’s like, ‘When are you going to come back to get a corporate job?'”

His mother, Ellen, said she never expected her son to live outside the United States. “We’re very traditional, so, you know, we send our kids to college and then they get a degree, and then you expect them to work and hopefully, come back to Arizona,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: uptin saiidi, courtesy of drew binsky
Keywords: news, cnbc, companies, going, parents, traditional, teach, corporate, drew, major, told, hes, english, job, wanted, 154000, university


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His parents wanted him to get a corporate job, until he made $154,000 in one year

After graduating from the University of Wisconsin-Madison in 2013, he told his parents he would move to South Korea to teach English. “A double degree from a major university and he’s running off to teach English?” recalled his father, Danny, as he spoke of his son’s career choice after obtaining Economics and Entrepreneurship double major degrees. “At first, it was hard to convince my mom and my parents that I’m going to do this full time,” Drew told CNBC Make It. “My mom’s like, ‘When are you


After graduating from the University of Wisconsin-Madison in 2013, he told his parents he would move to South Korea to teach English. “A double degree from a major university and he’s running off to teach English?” recalled his father, Danny, as he spoke of his son’s career choice after obtaining Economics and Entrepreneurship double major degrees. “At first, it was hard to convince my mom and my parents that I’m going to do this full time,” Drew told CNBC Make It. “My mom’s like, ‘When are you
His parents wanted him to get a corporate job, until he made $154,000 in one year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: uptin saiidi, courtesy of drew binsky
Keywords: news, cnbc, companies, job, traditional, teach, major, drew, university, told, going, english, wanted, corporate, 154000, parents, hes


His parents wanted him to get a corporate job, until he made $154,000 in one year

He’s known to millions as Drew Binsky.

While his career path is far from traditional, Drew made a name for himself in just two years — transitioning from being an English teacher and blogger, to creating short travel videos that have generated more than 500 million views online.

After graduating from the University of Wisconsin-Madison in 2013, he told his parents he would move to South Korea to teach English. “A double degree from a major university and he’s running off to teach English?” recalled his father, Danny, as he spoke of his son’s career choice after obtaining Economics and Entrepreneurship double major degrees.

Last year, Drew said he made more than $154,000 in income through advertising revenues from Facebook and YouTube, along with brand partnerships with companies such as Booking.com, which use influencers to help promote their business.

“At first, it was hard to convince my mom and my parents that I’m going to do this full time,” Drew told CNBC Make It. “My mom’s like, ‘When are you going to come back to get a corporate job?'”

His mother, Ellen, said she never expected her son to live outside the United States. “We’re very traditional, so, you know, we send our kids to college and then they get a degree, and then you expect them to work and hopefully, come back to Arizona,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: uptin saiidi, courtesy of drew binsky
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Here’s how to negotiate your rent, from the author of ‘I Will Teach You to be Rich’

Here’s how to negotiate your rent, from the author of ‘I Will Teach You to be Rich’4 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Ramit Sethi explains how you can negotiate your rent with your landlord and potentially save hundreds or thousands of dollars.


Here’s how to negotiate your rent, from the author of ‘I Will Teach You to be Rich’4 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Ramit Sethi explains how you can negotiate your rent with your landlord and potentially save hundreds or thousands of dollars.
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Here's how to negotiate your rent, from the author of 'I Will Teach You to be Rich'

Here’s how to negotiate your rent, from the author of ‘I Will Teach You to be Rich’

4 Hours Ago

To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again.

Ramit Sethi explains how you can negotiate your rent with your landlord and potentially save hundreds or thousands of dollars.


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The No. 1 negotiation lesson Trump’s border talks teach

Since it requires the most creativity, collaboration can be one of the trickiest negotiation strategies, says G. Richard Shell, a director of the Wharton Executive Negotiation Workshop and author of the book “Bargaining for Advantage: Negotiation Strategies for Reasonable People.” “Collaboration isn’t ‘fold your cards and make peace,'” he tells CNBC Make It. The last shutdown lasted a record-setting 35 days and cost the country $11 billion, according to the Congressional Budget Office. Still, th


Since it requires the most creativity, collaboration can be one of the trickiest negotiation strategies, says G. Richard Shell, a director of the Wharton Executive Negotiation Workshop and author of the book “Bargaining for Advantage: Negotiation Strategies for Reasonable People.” “Collaboration isn’t ‘fold your cards and make peace,'” he tells CNBC Make It. The last shutdown lasted a record-setting 35 days and cost the country $11 billion, according to the Congressional Budget Office. Still, th
The No. 1 negotiation lesson Trump’s border talks teach Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: linda lacina
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The No. 1 negotiation lesson Trump's border talks teach

Former Navy SEAL commander: How to win under a terrible boss 11:11 AM ET Thu, 8 Nov 2018 | 02:32

Collaboration, she tells CNBC Make It, “is about about creating a situation where people get at least some of their interests met.”

Since it requires the most creativity, collaboration can be one of the trickiest negotiation strategies, says G. Richard Shell, a director of the Wharton Executive Negotiation Workshop and author of the book “Bargaining for Advantage: Negotiation Strategies for Reasonable People.”

“Collaboration isn’t ‘fold your cards and make peace,'” he tells CNBC Make It. “It’s an art.”

Trump, as some experts have pointed out, has often preferred an “all or nothing” strategy that he honed as a real estate mogul and that can often work in business.

Collaboration “isn’t part of [Trump’s] game plan,” says Shell. That reality could make talks difficult for the congressional negotiators who must strike a deal by February 15 or face another possible government shutdown when funding lapses.

The last shutdown lasted a record-setting 35 days and cost the country $11 billion, according to the Congressional Budget Office.

To be sure, political negotiations like this one are not the typical bargaining situations most people find themselves in, says Gallo. Still, they can highlight the importance of strategies that keep talks moving forward.

As politicians wrangle their own solutions to the border talks, here are four steps to help anyone keep collaborating when talks break down.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: linda lacina
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Are you smarter than a 5th grader (when it comes to money)?

When it comes to the value of a dollar, most kids are at a loss. The sixth graders at Golden Door, a public charter school in Jersey City, New Jersey, are trying to change that. When you get paid, whether from chores, allowance, babysitting or a summer job, save a small amount for yourself and put it away immediately, she said, because otherwise, it quickly disappears. “Before you know it all that allowance is gone.” More commonly, some sort of financial education is taught in high school, but n


When it comes to the value of a dollar, most kids are at a loss. The sixth graders at Golden Door, a public charter school in Jersey City, New Jersey, are trying to change that. When you get paid, whether from chores, allowance, babysitting or a summer job, save a small amount for yourself and put it away immediately, she said, because otherwise, it quickly disappears. “Before you know it all that allowance is gone.” More commonly, some sort of financial education is taught in high school, but n
Are you smarter than a 5th grader (when it comes to money)? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: sharon epperson, jessica dickler, fox, fox image collection, getty images, -angela mcknight, new jersey assemblywoman
Keywords: news, cnbc, companies, sixth, grader, education, personal, states, school, financial, smarter, schools, jersey, money, teach, 5th, comes, literacy


Are you smarter than a 5th grader (when it comes to money)?

When it comes to the value of a dollar, most kids are at a loss.

The sixth graders at Golden Door, a public charter school in Jersey City, New Jersey, are trying to change that.

Starting in the fall, these 11- and 12-year-olds will be required by state law to learn the basics of saving and spending, the dangers of credit card debt and how to think about major expenses down the road, like a car or college

“I teach them a term called paying yourself first,” said Danielle Traina, who already teaches financial literacy as part of the curriculum at Golden Door.

When you get paid, whether from chores, allowance, babysitting or a summer job, save a small amount for yourself and put it away immediately, she said, because otherwise, it quickly disappears. “Before you know it all that allowance is gone.”

New Jersey schools have had have some financial education standards in place for several years, and a new law that goes into effect in September is taking those efforts a step further — requiring all school districts to teach financial literacy in sixth, seventh and eighth grades.

More commonly, some sort of financial education is taught in high school, but not across the board.

Only 17 states require high school students to take a class in personal finance — a number that hasn’t budged in the past four years, according to the 2018 Survey of the States: Economic and Personal Finance Education in Our Nation’s Schools.


Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: sharon epperson, jessica dickler, fox, fox image collection, getty images, -angela mcknight, new jersey assemblywoman
Keywords: news, cnbc, companies, sixth, grader, education, personal, states, school, financial, smarter, schools, jersey, money, teach, 5th, comes, literacy


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Why Alibaba’s Jack Ma says your first job is the most important

Your first job may not always feel like the most inspiring. But according to billionaire businessman Jack Ma, it will be your most important. If he could share one piece of advice with young people, that would be it, the Alibaba founder told an audience at the World Economic Forum in Davos. “Your first job is your most important,” Ma said Wednesday during a session entitled “Meet the Leader with Alibaba Executive Chairman Jack Ma.” That doesn’t mean it has to be your “dream job” — or even one yo


Your first job may not always feel like the most inspiring. But according to billionaire businessman Jack Ma, it will be your most important. If he could share one piece of advice with young people, that would be it, the Alibaba founder told an audience at the World Economic Forum in Davos. “Your first job is your most important,” Ma said Wednesday during a session entitled “Meet the Leader with Alibaba Executive Chairman Jack Ma.” That doesn’t mean it has to be your “dream job” — or even one yo
Why Alibaba’s Jack Ma says your first job is the most important Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: karen gilchrist, fabrice coffrini, afp, getty images, -jack ma, executive chairman of alibaba
Keywords: news, cnbc, companies, alibabas, ma, jack, alibaba, young, important, job, yourselfnot, world, told, teach, things


Why Alibaba's Jack Ma says your first job is the most important

Your first job may not always feel like the most inspiring. But according to billionaire businessman Jack Ma, it will be your most important.

If he could share one piece of advice with young people, that would be it, the Alibaba founder told an audience at the World Economic Forum in Davos.

“Your first job is your most important,” Ma said Wednesday during a session entitled “Meet the Leader with Alibaba Executive Chairman Jack Ma.”

That doesn’t mean it has to be your “dream job” — or even one you particularly enjoy, he continued. But it does have to be one where you can learn from others and stretch yourself.

“Not necessarily a company that has a great name, (but) you should find a good boss that can teach you how to be a human being — how to do things right, how to do things properly — and (you should) stay there,” said Ma.


Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: karen gilchrist, fabrice coffrini, afp, getty images, -jack ma, executive chairman of alibaba
Keywords: news, cnbc, companies, alibabas, ma, jack, alibaba, young, important, job, yourselfnot, world, told, teach, things


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