A sample of recent press comments on FoolProof.
The Financial Literacy Industrial Complex
The bottom line: Financial literacy education is increasingly being created by the very companies that the students should be taught skepticism toward.
As the FoolProof Foundation puts it: "Today’s financial literacy education doesn't work because virtually all major financial literacy resources are developed or shaped by businesses that benefit when consumers make money mistakes."Read More
Apps Try Putting Financial Literacy at Kids’ Fingertips
There’s a new crop of mobile money apps promoting themselves as part of the solution to a stubborn problem: a lack of financial savvy, particularly among young Americans.Read More
Apps Try Putting Financial Literacy at Kids’ Fingertips
While the apps appear promising, they make some financial education advocates wary. Lennette Coleman, president of the FoolProof Foundation, which promotes "healthy skepticism" about financial products, said it felt "irresponsible" to allow children, who may not have fully absorbed lessons about the necessity of working to earn money, saving it and spending it wisely, to invest in stocks. If apps make a game out of investing, she added, children may be more engaged — but they may also be more likely to take risks."There's a lot of nuance in the stock market," she said, "and they don't understand those nuances." Read More
Young people manipulated on the web!— FoolProof (@FoolProofme) April 19, 2021
How to help them?
Tell teachers about this!
1. Teachers can show their students The Social Dilemma April 26 to May 3!
2. One week only!
3. View the trailer here: https://t.co/ho1uDCoawd
4. All teachers: click “learn more” for all info pic.twitter.com/LTprY8Xz8q
As financial IQ of students drops, could video games be the answer?
As the next generation's economic future is increasingly uncertain in a digital marketplace that seeks to exploit them at every turn, one financial advocacy group is fighting back with a new mobile game that will be tested in classrooms across the country this spring.Read More
Help students outsmart Big Tech and be smarter consumers. The award-winning documentary "The Social Dilemma" is accessible to every teacher and student across the US from April 26 – May 3.https://t.co/y4XIhtpVQZ— Newt Gingrich (@newtgingrich) April 22, 2021
If you are a teacher this organization has a wealth of information (pun intended). And here's another thing to look out for coming April 26. #FinancialLiteracyMonth #FoolProof @FoolProofme https://t.co/MNX5FYmqFf— Michelle Singletary (@SingletaryM) April 19, 2021
Virtually all major financial literacy resources are funded and shaped by corporations that make money when kids make financial mistakes.— Public Citizen (@Public_Citizen) April 16, 2020
If you're a teacher or parent, there are some great resources at https://t.co/v9SS4Q5tgf
What Is the One Lesson That Financial Literacy Courses Miss?
Bob Brooks talks to FoolProof's Drew Guthrie about what you need to know about dealing with money.Listen on SoundCloud
Looking for a great free resource for a middle school or high school student? Check out how to help them skill up https://t.co/FuvrStpTbp— Jackie Gingrich Cushman (@jackiecushman) April 16, 2020
Coronavirus-impacted kids need financial literacy training to combat online scams. See the latest from https://t.co/mj0TOgMTmR— Ralph Nader (@RalphNader) April 14, 2020
Distance learning: Owasso students take part in TTCU's online financial literacy course
As schools face challenges adjusting to distance learning, TTCU Federal Credit Union is providing FoolProof, an online financial literacy course, to students across Oklahoma, including 198 students at Owasso Public Schools.
FoolProof covers topics such as taxes, budgeting, how to recognize a scam and more. TTCU provides the program free of charge to teachers and schools.Read More
Directions Credit Union partners with online financial literacy program
With millions out of work and many having limited incomes or living off of savings due to lockdowns during the coronavirus threat, making smart decisions so that your dollars go farther has become paramount.
Over the last two years, one area credit union has been trying to teach adults and students how to handle money responsibly via a free online financial literacy program called FoolProof.Read More
Free, online program teaches financial responsibility during pandemic
The Foolproof financial literacy program is seeing increased use across Ohio during the coronavirus outbreak.
The coronavirus outbreak is impacting almost every part of the economy. With families keeping a close eye on their finances now, a non-profit group is using this crisis to teach everyone, including our youth about handling your money responsibly.Watch Video
The coronavirus is the ultimate personal finance real-time life lesson. If you’re a teacher or parent there are some good resources at https://t.co/cH4oZTHBIQ. Check out the site’s coronavirus page. https://t.co/UqLCY53fTo— Michelle Singletary (@SingletaryM) April 13, 2020
TTCU providing FoolProof strategy to assist area students in financial literacy
"I didn't know about credit scores and how that will affect buying a home or buying a car," said Espinoza, a sophomore at Will Rogers High School.
Espinoza and his classmates are among the tens of thousands who are learning financial literacy thanks in part to a partnership with TTCU Federal Credit Union.Read More
WVU professor: financial literacy should be top priority for students
A professor at West Virginia University said that recently released data detailing that student loan debt is a contributor to a national decline in housing purchases is a red flag that financial literacy among elementary-, secondary- and college-aged students should be treated as a priority.Read More
Children's Allowances in a New Form: Debit Cards Linked to Parents' Phones
"These cards are a great tool to learn about money management, if they're used right," said Will deHoo, founder and executive director of the FoolProof Foundation, a nonprofit that promotes "healthy skepticism" about financial products.
That means emphasizing budgeting and saving, not just spending — which, after all, is a debit card's main function. "A debit card never met a sale it didn't like," Mr. deHoo said.Read More
Middle school and high school students get an early lessons in finance: What kids need to know about money and debt
In a classroom that features larger-than-life murals of a bull and a bear -- traditional symbols of the stock market -- a group of middle-schoolers were learning lessons in financial literacy that hopefully produces lifelong results more bullish than bearish.
"Who can tell me what a healthy skeptic is?" asked Sarah Coppola, a teacher at the Ariel Community Academy in Chicago.Watch Segment
Everyone's a Skeptic, or Should Be
Banks, nonprofits and government agencies will be reaching out to consumers during April, Financial Literacy Month, to educate them on making smarter financial decisions. But some advocacy groups say industry-sponsored approaches, the bulk of what's out there, paint an overly rosy picture of products such as loans without disclosing the risks involved.
The FoolProof Foundation, launched in 2013, says it offers free, unbiased financial education, focusing on teachers. The group developed a curriculum that encourages "healthy skepticism" by making students aware of marketing tricks used to drive consumer behavior and teaching them to think critically about where their money goes, from basic savings to online gaming.
"If you don't slow down, the decisions you make can become habits, and they can easily become bad habits," said FoolProof founder Will deHoo.Read More
Most States Don't Require Specific Financial Literacy Classes
Most states take a scattershot approach to teaching personal finance concepts to high school students, a newly released financial literacy report card finds, with just a handful of exceptions.
"We find that if a rigorous financial education program is carefully implemented," the report concluded, "it can improve the credit scores and lower the probability of delinquency for young adults."Read More
Who do you want to teach your children about money?
In an ideal world, financial literacy starts at home. But we don't live in this world. Many parents are unwilling, overwhelmed or ill-equipped to teach their children good financial habits.
So we have turned to educators to get the job done. But where are the educators getting the materials they use to teach your children?Read More
How Schools Can Teach Kids to Be Smart Consumers
Most financial literacy efforts in schools don't improve people's behavior later in life. That could be because we're focusing on the wrong things.
SKEPTICISM. Smart consumers need to think critically about the advertising, offers and advice that bombard them every day. They need to look beyond surfaces to determine what's really being sold to them, and why.Read More
Investing in Our Nation’s Future: No One Left Behind
Will deHoo, our founder, featured in the Green Money issue: Millenials & MoneyRead More
Prepare kids for retirement (and improve financial literacy) with lessons in skepticism
Ironically, Americans rely on 'businesses that rely on impulse buying and consumer debt to teach us how to be smart about impulse buying and consumer debt'Read More
Education foundation in Cocoa teaches financial literacy, gets backing
Financial literacy courses will be able to reach more students nationwide, thanks to FoolProof Foundation, an organization with Brevard ties that received backing from consumers groups this month.Read More
It's confusing when ads look like real news
You’ve been fooled by fake news. Perhaps you skipped right over a line that said "Paid Promoted Stories" or "Sponsored Content." Next thing you know, you're reading what you thought was a real news story about how to ease your fatigue, but it's really an ad for a vitamin supplement.Read More
How to protect yourself — and your wallet — from fake news
You're reading a real news story online, and below it — or embedded within it — is an interesting headline that captures your attention. Click. Then bam!Read More
Should Kids Be Taught Healthy Skepticism?
Day and night kids in America are bombarded with fake news stories, phony websites, stealth marketing campaigns, and online scams.
How can those kids learn to make wise decisions about their money and their welfare in that chaotic, deceptive environment?
Here's how: by teaching them the life-long habits of healthy skepticism and caution.Read More
Young adults moving in with parents shouldn't be passé. It's a smart move.
My husband and I are trying to persuade our daughter to live at home if she decides to go straight to a local graduate school after she finishes her undergraduate degree next year.Read More
Get Ready to Be Told: You Don't Know Money
Not everyone's an expert — "Nobody blames me for not understanding how my car works," says Lauren Willis, a professor of consumer law and policy at Loyola Law School in Los Angeles. Prof. Willis, who works with the FoolProof Foundation, an educational organization that seeks to train investors in what she calls "consumer self-defense," argues that instead of conditioning consumers for a predatory market that they can't navigate on their own, the market itself should be restructured.Read More
Don't Be a Financial Fool
April is national financial literacy month and April Fools’ Day is April 1st. On this occasion consumers should resolve to avoid being fooled and misled by banks, credit card companies and the financial industry. FoolProofMe.com offers useful information to help you improve your financial skills and to become smarter consumers.Read More
Don't Be Fooled by Biased Financial Literacy Programs
Can I be honest? The politically right thing to say in financial literacy circles is that we need educators—from elementary to high-school level—to teach our children how to handle their money.Read More
The foxes are in the henhouse. Credit card companies and other lenders sponsor many of the free financial literacy programs available to teachers. There's a built-in conflict of interest, since these companies often profit from bad financial decisions.
Standout Recipe for Financial Literacy Excludes Big Business
Most financial literacy programs are burdened with a fatal flaw: the financial institutions that sponsor them are the same companies known to take advantage of their unsuspecting customers with hidden fees and exaggerated claims. Little wonder the public comes away having learned nothing about the caveats of investing.Read More
The FoolProof Foundation Offers a Curriculum of Financial Caution
If you want your children to be better money managers, you need to model that behavior in your home. They need to see you saving, spending wisely and sparingly using credit.Read More