AOA 033: Merging Personal Finance and Hip Hop to Help Children Define Money Values and Encourage Entrepreneurship — With Guest Andrea Ferrero

“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)

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.