| April is National Financial Literacy Month, and you love to talk about money, but I think it should be called National Financial Intimidation Month. After all, most of us “mere mortals” find personal finance intimidating. And boring. And tedious. |
| Are you done? Besides, I thought you got over that years ago. |
| Being forced to figure out the basics doesn’t make personal finance any more interesting. It’s like getting my teeth cleaned. I know I need to do it, but that doesn’t make it any more enjoyable. |
| Great analogy, especially as getting you even to think you could “do” personal finance was like pulling teeth. |
| Fine, is this where you’re going to remind me how I freaked out when you first mentioned financial statements? Or when you told me that if I could add and subtract, I was qualified? |
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| Actually, it quickly became obvious that a big part of the problem was the terminology, which is why I simplified it. |
| I remember. Especially since you love to tell people how emphatic I was that I couldn’t deal with assets and liabilities until you told me we were going to talk about “what you own” and “what you owe,” and I said I could do that. Neglecting to tell me those were the definitions. |
| My version is technically accurate. But, making it a funny story makes the topic relevant and relatable. And, memorable. |
| Like when you used to ask auditoriums full of eighth graders how many liked math, and only a handful raised their hands. But when you asked how many liked money, they ALL raised their hands! |
| Exactly. The difference is focusing on practical applications versus terminology and theory. Many people will think they are not good at math when, in reality, they are not good at theory. |
| Do you remember when you took the girls and me to Central Market? Back when Natasha was in high school and close to failing math. She had a store gift card and a basket full of items. Sawyer and I watched as the cashier entered each item, and we were betting on how much Natasha would overspend. Instead, she came in slightly under! |
| She seemed to know exactly where she stood. And, was doing it in her head. Which did not surprise me as she was always good with numbers. It is why business plans for bars, not just the creative concepts and drinks, but the numbers, come so easily to her. Natasha often struggled with the supposed “correct order” of the mathematical steps, but she understood the application. |
| But I’ve always thought of math as being very structured. With right and wrong answers. |
| Ok, if something is $7.84 and I give you a $10 bill, how will you figure out the change? And, you cannot use a calculator or smartphone. |
| Easy. Subtract $7.84 from $10. How else would you do it? |
| Add $0.16 to get to $8. Then $2 more to get to $10. I can get to the “correct” answer of $2.16 faster using addition than subtraction. |
| That’s really interesting. When you asked me how to figure it out, the straight-A student in me defaulted to how I was taught to do it. But your approach is a much easier way to get to the same answer. |
| Basic algebra. |
| Don’t even think of going there. But it does explain the trick Mommy taught me years ago about calculating the cost of something with tax. Rather than figuring out what 8.25% of the price was and then adding it to the price, I’d just multiply the number by 1.0825. |
| I doubt Mom realized the mathematical equation behind solving for “x,” but she knew why take two steps when you can take just one. Whether in your head, on paper, or using a calculator. |
| So, just like you made me realize being open to “trying” to do personal finance is about mindset, so is math. Using your logic, why not teach math, at least to those who aren’t into theory, in a practical way? And by using money examples, you also could be teaching personal finance. After all, kids may not like math, but they sure do love money. |
| Mom used to say that I excelled in math because, as a kid. I would substitute “dollars and cents” for “apples and oranges” in word problems. Although, looking back, putting me on a clothing budget when I was in middle school is what probably taught me the most. |
| I still can’t believe you never realized it was intended as a punishment, not a life lesson, until you were trying to explain budgets to me while I was in the midst of my “crisis”. |
| I still can’t believe you never learned about money until you were in your 40s, and it took your husband getting fired. But, the bottom line is that you are never too young or too old to learn. |
| About math. About money. About life. |
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| I have a confession to make, which I’m sure will make you roll your eyes. |
| Interesting caveat and probably true. |
| Every time we talk with Jackie (Aguilera) from the Mayor’s Office of Adult Literacy and hear what she’s doing in the world of adult education, I feel like I’m back in school and having to take copious notes. |
| I am more than happy to send you “homework assignments” as I come across relevant articles and research. |
| Thanks, but no thanks. I’ll stick to taking notes. But that does explain why you’re so knowledgeable about literacy. |
| But, reading information is very different from being at the forefront of literacy innovation. And, if we had never met Jackie, I never would have realized how literacy is about more than reading and writing. |
| But that alone is such a critical part of all of our lives and can make the difference between struggling and success. Although I never stopped to think about any of that before we met Jackie. |
| The funny thing is we first met her because of financial literacy. |
| Yes, I remember, even though it was over a decade ago. It was shortly after our book was approved as a financial literacy textbook by the (Texas) State Board of Education, and you decided we should go to a Houston Money Week meeting. I didn’t think we were qualified to talk about the topic. |
| I did not feel qualified to decide whether or not we could be of any help until I better understood what they did. |
| That’s why I let you do the talking when “newbies” had to introduce themselves. Plus, I’d have talked their ears off. But after the meeting, this confident but very approachable woman came striding across the room, extended her hand to me, and introduced herself. At the time, she was Literacy Coordinator at EastSide University. |
| All I remember was her energy, commitment, and passion for financial literacy. Not usually a topic discussed with such enthusiasm. |
| There’s an understatement. And not only did it take me by surprise, but I hate to admit it, it was contagious. Especially once we started working with her. |
| Another confession? |
| Maybe. I still shake my head in amazement at the incredibly creative ways she makes personal finance, typically such a “boring” topic, come alive. And how she uses outside-the-box approaches to making learning relevant. |
| But, it is not only financial literacy. It also includes digital literacy, health literacy, and even news literacy and environmental literacy. Which is why I am honored that she asked us to create various “Conversation Starters” she could use at presentations and workshops. |
| I never imagined they could be used to talk about serious concepts in a light-hearted and fun way. Even if she points out how I was a poster child for not being “literate” when it comes to an assortment of life topics. |
| I dislike the term “literacy” because it makes people feel like they are “illiterate” when they do not know something. In reality, they may never have been exposed to the information or given an opportunity to learn it. |
| I can tell you first-hand that, initially, I felt stupid until you pointed out I was merely sheltered. But that’s given me so much more empathy when I think of other people in the same position I was once in. |
| That is why she likes the “Conversation Starters” – they make the topics accessible in a non-threatening way. |
| And helps us realize that literacy impacts every aspect of our lives since it is so much more than reading and writing. Raising awareness of that and talking about it with others, especially our families, can have a huge ripple effect. |
| That is the purpose of September being designated National Literacy Month. |
| September seems the perfect time to learn something new. It’s like being back in school, except you can put the knowledge to work immediately. |
| And, this year, with elections just months away, it is the perfect time to learn about news literacy. |
| Oh, I know better … |
Photo by michaelmjc on iStock
Is it a way to meet people, share memories, or help the environment? Or is it about bargain hunting? As we've talked about before, garage sales can be about so much more than just getting rid of things you no longer want …
| Thanks for the accounting of your garage sale. But, given how many hours you spent preparing for it, and then the actual sale itself, did you calculate how much you “earned” on a $/hour basis? |
| No, all I know is that it seemed to take forever to go through everything in Mom’s house and decide what to keep, what to sell, what to donate. And what to trash. As far as the garage sale, I’ll give you your half the next time I see you. |
| Keep my half. You did all the work. I did not even offer to help. |
| And that was a big help. Thank you. |
| Obviously, you must be exhausted because you are making no sense. |
| Sorry, but I have a specific way of running garage sales, and the last thing I needed was another “cook in the kitchen” . |
| Not a good analogy as “cook” is a four-letter word that I do not use. |
| Cute. But seriously, I knew if I had asked you to help, you would’ve. But I can only imagine how you’d have reacted when you first saw all the stuff for sale. Especially as I treat garage sales as a way to get rid of items that I know have very little value. I’m not trying to maximize the money I make; I’m just trying to make the stuff “go away”. In fact, I don’t even put prices on them. |
| That all makes sense. Except for not having everything pre-priced. That would drive me crazy. How do you know what to charge people? |
| It’s an experience thing and another reason why I didn’t ask you to help. I have a sense of prices, but not something I could quantify in advance. When someone arrives, I tell them that everything’s cheap and give them an example. They usually look at me like, “Wow, she means it.” And then I tell them to collect what they want and that I promise to give them a good price. And I do. |
| Is that why you and Mom never had joint garage sales? I cannot imagine she would let you determine prices on the spot. |
| Actually, she’s the one who “taught” me not to price things. That if someone picks up something or you see them looking at it, they’re interested. And that’s all you need to know. Where we differed was in how much to charge. To her, it was fun, but also a way to make money. To me, a garage sale isn’t my retirement account. It’s my way to get rid of stuff, especially big, bulky stuff. |
| In other words, people are paying you to haul off your trash. Or, save you trips taking stuff to your local thrift stores. |
| Exactly. Although I still take a lot of items to thrift stores that would probably sell for a decent price at a garage sale because I believe in what they’re doing, and I know that my donations make a difference. But I forgot how fun a garage sale can be, meeting people and laughing, just making connections, and knowing that someone will now enjoy and/or use your things. Or, in this case, Mom’s things. |
| Is there a particular age group that came to your garage sale? |
| It was truly a mix of people. Not counting the kids tagging along with their parents, which reminded me of when the girls would set up a lemonade stand to benefit Make-A-Wish at my garage sales years ago, they ranged from 20-somethings to senior citizens. But I’m almost afraid to ask why you asked. |
| I will not get into studies and statistics, but younger people are really into the environment and reusing older things, especially clothing (which is one of the three “new” R’s – reduce – reuse – recycle ). So, garage sales, along with thrift stores, are becoming more popular than ever. |
| I love it! And the idea of so many of Mom’s things, now that she’s passed, will get to live on and be enjoyed by others. |
| At the risk of sounding like a MasterCard commercial , there are some things that money cannot buy. Like sentimental value and fond memories. |
| I know. Which is why the process of sorting everything was so time-consuming. Interestingly, when that came up in conversation during the garage sale, so many people could relate and then shared their own stories. It was as if they wanted me to know that Mom’s things were getting a good home. |
| Well, if you add that to the cash you made, it sounds like a very successful garage sale. Hopefully, the next sale, being an estate sale with larger and higher-priced items, will be as successful. And, although I tried to get you to use a professional “estate sale” company that would do everything for you, I am beginning to understand why you decided to do it yourself. |
| The hardest part was culling and organizing, and there was no way I’d let strangers go through all of Mom’s things. And the internet makes “advertising” the sale and posting items online very easy. All-in-all, there’s no reason we can’t do it ourselves. |
| We?! |
| Yes, because your ability to combine photos into a single image and correct my grammar is important. But your spreadsheets will be critical. |
| Now, that I can do. |
Remember summer reruns on TV? Well, this month’s column is a first … it’s a “rerun” of our July 2020 column, except we added the word “CRITICAL” in the title. Because, four years later, we feel it’s very sad (and scary) that our sentiments about our country’s leaders having the strength, courage, and conviction to be independent thinkers are still relevant (maybe even more than before). So, the Fourth of July may be behind us, but Election Day will be here before you know it.
| I keep forgetting to ask you, since Sawyer is away at camp, what did you do for July 4th? |
|
Well, it was
a very different Fourth of July. No
kids. No barbeque. No fireworks.
|
| I know most of the fireworks were cancelled, but is your barbeque grill broken? |
| No, this year I decided to declare my "independence" from doing a big holiday grocery shop, major prep work, and cooking outdoors in Texas heat. |
| I wish there were more people willing to declare their independence. |
| Somehow I don't think you're talking about me making an easy pasta dish in the comfort of my air-conditioned house vs. standing over a hot barbeque on a hot day. |
| No, but the quote, "If you can't stand the heat, get out of the kitchen" does apply to a bunch of elected government "leaders" – and I use that terms loosely as they actually seem to be "followers." You cannot tell me they do not see how their actions – or inactions – are hurting their constituents. |
| Although I agree with you, I can see where some elected officials feel the need to maintain the party line. Like you've always told me, you have to pick your battles. |
| Yes, but we are talking about people's lives. You are the history buff, so you well know there was a time when people would give their lives to do what they felt was right – for their families, for their community, for their country. Even if that meant standing up to those in control. |
| Yes, but I think you're being a bit dramatic. Which is interesting as I was the theater major, not you. After all, equating sacrificing your life to taking a stand about your beliefs is different from leaders who aren't willing to "speak up" to "higher-ups". |
| Really? One is risking their life – the other, maybe, their career. True leadership is about doing what is right. And, if you feel that something that is wrong, take an independent stand. It is about having the strength, courage, and conviction to do what you believe is right. |
| Sounds like you watched "The Patriot" over the holiday weekend. |
| Never heard of it, but you are the movie-goer, not me. Although we both know your primary motivation is the popcorn. |
| True. Anyway, it starred Mel Gibson as an American colonist, and although an "action movie" showing our fight to win independence from Britain, it still explores those exact themes. America may not be a perfect country, but it has always stood up and been willing to fight for what it believes in. |
| Yes, but that is harder to do when leaders are not leading, but rather just following. Being a true leader requires independent thinking. | |
| That reminds me of something someone told me decades ago about a colleague they worked with, "He would be a great leader, if only people would follow him." It definitely made me laugh. |
| Sometimes you do not realize the wisdom of a true leader until much later. Initially, they may be measured by doing what is popular or convenient. |
| I love history, and there are countless examples of just that, but I'm not sure how you begin to crack that nut. Today, thinking, yet alone independent thinking, isn't what a lot of people do well. |
| OK, Miss History. After we got our independence from England, how were we ruled? Who made all the decisions? |
| Is this a trick question? |
| No, I do not know the answer, and I am trying to understand what happened and why. |
| First, my disclaimer that I know more about Tudor history than American history, but to keep it short and simple, the 13 states had to find a way to work together, and the original structure (if you're ever on Jeopardy remember "The Articles of Confederation") gave the states a lot of power. However, that didn't work out so well, and after just a few years, there was the brilliant idea to create The Constitution, which establishes and defines the separation of powers. |
| So, it required a lot of creative thinking, with an end goal of what was best for "We the people". In other words, when our country was born – it was led by independent thinkers not people that merely followed along. |
| Yes, but that's history. Good luck turning back that clock! It would require those "up the ranks" to relinquish some of their power. And need I remind you that we had to fight the War of Independence to achieve that? |
| That history fact, I do know. However, I think we have recently witnessed the importance – and power – of independent thinking. And, combined with good leadership, it can result in great things. |
| Absolutely! And to say there's such an overwhelming need for that at this critical time would be a huge understatement. Maybe it's time for another revolution, although this time make it peaceful. |
| The War of Independent Thinking. Now that would warrant fireworks. |
