Parents, Have You Had 'The Talk'? The One About Money?

Girls' Group Offers 'Money Sense Tips' for Financial Literacy Month

04/01/2007- NCGS Press Release

There's a new version of "The Talk" these days. Not about the birds and the bees, but about money. How to earn it, how to save it, how to spend and use it wisely.

For many parents, however, the prospect of having "The Money Talk" with their kids can be daunting. So throughout the month of April, The National Coalition of Girls' Schools (NCGS) joins the Jump$tart Coalition in marking "Financial Literacy for Youth Month." The goal is to help get parents, educators and young people working together to build financial skills.

"We need to approach this on a cultural level, particularly where girls and young women are concerned," according to Whitney Ransome, NCGS Co-Executive Director. "In today's media-saturated world, girls get more messages about dating and dieting than they do about dollars, about financial skills."

"Girls need to learn to earn, and to manage their money wisely," adds Meg Moulton, NCGS Co-Executive Director. "They need to be savvy consumers, vigilant savers and responsible givers if they're going to succeed in the modern, global economy."

Getting started on the path to financial literacy is easy. Here are five, simple "Money $ense" tips designed for girls, in tune with the NCGS mission:

1. Keep a Spending Diary

Print out the free Spending Diary at http://www.ncgs.org/diary, and track every cent you spend for a week. Then add up the total, and look for ways to spend less and save more.

2. Be a Money Manager

Don't have a bank account? Ask your parents to help you open one, and watch your savings grow.

3. Resist the Spending Urge

Ads on TV, in magazines, even posters at the mall are all about getting you to spend, spend, spend. Learn to spot -- and resist -- the many ways advertisers try to get hold of your hard-earned cash.

4. Kiss the 'Prince Charming' Myth Goodbye

Happily-ever-after endings and fine for fairy tales. But in reality, women still earn about 25% less than men on average, and tend to have less for retirement. So it pays to be independent about your money, education and career!

5. If You've Got It, Use It -- Wisely

Think of a worthy cause (say, relieving hunger or homelessness) and find a charity with a good reputation. Even small donations make a big difference!

About The National Coalition of Girls' Schools:

NCGS is the leading expert on single-sex education for girls, representing all-girl schools across the United States plus international members and affiliates in Canada, Great Britain, Australia, New Zealand and South Africa. Our member schools reflect the full diversity of today's educational landscape: private, public, and charter... day and boarding... urban, suburban and rural... big and small. In the U.S. alone, more than 48,000 girls and young women attend NCGS member schools. On the web: www.ncgs.org. Media contact: Carolyn Colletti, (978) 368-9086 or carolyncolletti@ncgs.org.