Recently, I visited the ultra popular blog BlackandMarriedWithKids.com where I came across an article by M. Simone Boyd entitled Ballin One Minute, Broke the Next: The 3 Main Problems with Overnight Millionaires. You can check out the article at https://blackandmarriedwithkids.com/2016/02/money-the-problem-with-overnight-millionaires/#.VvLVdZXmrmQ. The points in her article highlight a theme we’ve maintained throughout our #RaisingBlackMillionaires movement, which is the essentials to building the proper mindset and habits that cultivate and support wealth building so that the actual practice of wealth building is as regular and natural as breathing versus getting rich; which can often be one-time occurrences that can be squandered away. Several professional athletes and lottery winners know exactly what I’m talking about.
One of the things I appreciated about her article is the fact that she posted links to tools on her site that readers could use to aid in the achievement of improved financial literacy. One of the tools was a quiz to help determine your level of financial literacy. You can access that by clicking here: http://qz.com/554676/two-thirds-of-the-world-cant-pass-this-basic-financial-literacy-test-can-you/.
Moreover, there was a link to a cool little game called Financial Football, sponsored by Visa and the NFL. As an advocate for teaching finances and economics to children, I’m always looking out for fun ways to engage children along those lines; so, I checked the game out, and it was pretty cool. It has three levels, suggested for ages 11 and up, with corresponding financial lessons, as well as a separate resource section where visitors can access other tools. Visitors can either jump right into the game to determine what prerequisite knowledge they already possess or go through the modules before playing the game. There are actual football plays that are chosen before each question is answered then executed once the correct answer is given. This is perfect for young men like my youngest son who is a sports enthusiast. And it’s available in English and Spanish!
Check out the link. Play it with your children, or let them go at it alone; and let me know what you think. http://www.practicalmoneyskills.com/games/trainingcamp/ff/
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Thank you SO much for sharing the tools and mentioning the story, Thiah. After watching that ESPN documentary, I was struck by how many athletes burn through their money. That’s why I believe the work you are doing with #RaisingBlackMillionaires is so important. Because it all boils down to mindset and habits, but we MUST-as a people- train our children at a young age. It lays the foundation for the rest of their lives.
Peace and Blessings…Simone
You’re so very welcome, Simone, and I thank YOU for taking the time to check them all out! It is so astonishing to realize how common that is with professional athletes. Here I was still stuck on M.C. Hammer’s losses (lol…he’s getting that tech money now, so I’m the only one who’s still stuck!) But, I appreciate your sharing.
Peace and Blessings to you, as well!