Douglas Scarboro is senior vice president and regional executive of the Memphis Branch of the Federal Reserve Bank of St. Louis.
There are 4 articles by Douglas Scarboro :
Children may witness an adult paying for most items with a credit card or a mobile phone service without recognizing this as money spent. And often children don’t connect your work with income; they may not realize that adults work and are paid for that work.
It’s not necessary to tell kids how much you make, but you can explain how you work to earn an income, how circumstances might change the amount you earn, and how you have to make choices about how to spend that limited income.
With April recognized as Financial Literacy Month, now is the time to elevate its importance and prepare young people for their financial futures. This is not a monthlong effort. It’s a lifelong effort.
“... women of color on average possess significantly less wealth than white men and women alike, the St. Louis Fed analysis finds.”
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