In this week’s episode of Millionaire or Bust, the main topic was educating kids about finances. But, first I covered the news for the week:
- The coin toss was right, Wall Street extended its rally.
- There were no bank closures.
- US unemployment hit 8.9%, while job losses moderated.
- Oil prices rallied again despite massive supply.
- US banks need to up capital to meet ‘stress tests.’
- More cell phone users dropping landlines.
Then finally I talked about educating kids about finances. I talked about what I think is the key topic to teach and reinforce and that is scarcity. I give some tips and tricks that might be useful in teaching kids about scarcity in order to prepare them better for the real world.
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