“Learning about money has the power to transform lives.”
— Andrea Ferrero
How do hip hop and financial literacy go hand-in-hand?
Andrea Ferrero will gladly explain! Andrea is a co-founder of Pockets Change, an organization that uses hip hop pedagogy to change the way personal finance is taught to kids. Andrea has enjoyed over a decade of teaching students of all ages, coaching educators and designing award-winning academic programs and products. She currently holds a teaching credential in PreK – 12th Grade Multiple Subjects and two Master’s Degrees, one in Educational Leadership as well as one in Curriculum and Instruction with Multicultural Contexts.
Andrea and I discuss how to help kids move from thinking they are “good” or “bad” with money to learning how to simply use money as a tool. We discuss money values and personalities, encouraging entrepreneurship and how Andrea is adapting her teaching methods to accommodate families during the COVID-19 crisis.
Links (From the Show)
- Pockets Change resources
- Additional resources
- California Jump$tart Coalition
- The U.S. News & World Report article that details why money is harder to talk about than sex
- The Wonderful Pigs of Jillian Jiggs by Phoebe Gilman
Show Notes (Find what’s most interesting to you!)
- All about Andrea [2:11]
- Taking the lemonade stand to a new level: how Andrea’s first teaching experience kick-started her interest in developing student entrepreneurship [2:45]
- Andrea explains that kids develop lifelong money tendencies at age six or seven. [5:33]
- How Andrea’s organization, Pockets Change, evolved [6:55]
- How Pockets Change uses hip hop pedagogy to engage kids, help them understand themselves and address money shame [11:27]
- Andrea describes the “Money Buddies” concept and how it helps break down money taboos. [13:29]
- Moving past the notion of being “good” or “bad” with money and seeing it simply as a tool [15:12]
- How a Money Buddy helped a six-year-old overcome her dichotomous financial thinking [16:38]
- Andrea and I discuss how parents can prepare for “uncomfortable conversations” about money to help their kids. [17:17]
- Moving from the concept of “good” versus “bad” spending to spending that is either for “something I value” or “something I don’t value” [19:54]
- Andrea explains how she bridges the gap between schools and parents. [23:43]
- Understanding each family member’s money personality can be helpful in times of crisis. [26:59]
- How Andrea’s approach to money learning has changed in light of the pandemic [28:48]
- Andrea shares some ideas about how she and her fellow Pockets Change facilitators are teaching online and interjecting some “lightness” during these unprecedented times. [30:30]
- The relationship between money empowerment and resilience [35:45]
- Making time and space for money conversations [36:19]
- Andrea’s advice to her students and what she has learned in return [37:13]
- The three most influential people in Andrea’s life when it comes to money [38:11]
- Talking about money early and often [40:05]
- Andrea’s money-smart book recommendation [40:46]
- Chatting with Andrea about money via social media, the web and email [42:22]
- How to find out your money personality to begin the financial literacy conversation with your kids [42:47]
If you liked this episode …
Wanting to dive deeper into the concepts of money conversations and practical financial literacy? Mom and award-winning educator Tabatha Thurman addresses making finance personal on her episode of The Art of Allowance Podcast.
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You might also want to check out The Money Mammals, our program to get your children excited about money smarts when they’re young. Until next time, I wish you and your family well as you journey forth.
Thanks for listening.
John
