About KaChing!

KaChing! is MONEYSCHOOL’s planned personal finance newsletter for the next generation. Subscriptions are not available at this time.

Filling the Financial Literacy Gap

National surveys consistently show that most high school Seniors don’t have a good grasp of practical financial fundamentals. Aside from those who specialize in a financial field, the situation isn’t much better among college graduates.

Despite the critical importance of financial literacy in our everyday lives, few Americans receive any systematic financial education. Young adults, in particular, often don’t have the financial knowledge and skills they need to make good spending decisions, to use credit wisely, or to develop a budget and financial plan that allows them to achieve financial security through saving and investment.

KaChing! is intended to fill that financial literacy gap by helping young adults begin acquiring the critical knowledge, skills, and attitudes that form the foundation for lifelong financial success. Our goal is to provide our readers with practical financial knowledge and money management tips, while at the same time expanding their awareness and understanding of the larger financial world.

An Impressive Value

A one-year subscription to KaChing! will consist of 24 practical, youth-oriented newsletters, packed with financial information and expert advice that young adults will find interesting and relevant to their lives.

It is difficult to overstate the potential worth of this publication in contributing to the long-term financial success of its readers. But there is a short-term payoff too, because KaChing! will get readers thinking about how to be smart consumers and stop wasting money carelessly on things like bank insufficient funds charges, credit card penalties and cell phone minutes over their plan limits.

With penalties of as much as $39.00 a pop, a simple error in a check register can easily result in $100.00 or $200.00 in bank fees. Banks prey on the unwary with tricks like accepting debit card transactions that create instant overdrafts. Just by teaching readers how to protect themselves from those fees, KaChing! will pay for itself over and over.

Information PLUS Motivation

Using e-mail to distribute KaChing! is part of our strategy for making this information accessible to young people in a form they can relate to, at a time in their lives when it can make a real difference in their prospects for long-term financial success.

If the newsletter does nothing else, we intend to convince our readers that personal finance is interesting AND important to them, personally. MONEYSCHOOL will help motivate them to take responsibility for their own economic well-being, and give them the tools they need to further their own financial education and succeed in the business of life.

Style and Content

Every aspect of KaChing!, from its content and style to its electronic format, is designed to be relevant and appealing to the Net Generation. There really is nothing else like it.

In KaChing!, MONEYSCHOOL editors will digest and compile practical information and expert advice on a range of financial topics from a wide array of sources, and package it in a lively, conversational style that will appeal to young readers. And to keep it interesting, from time to time we’ll offer some alternatives to the conventional wisdom.

Below are examples of some topics that will be covered in KaChing!:

• Investing in Yourself: education and training; putting a value on education; college vs. technical training; student loan pitfalls;; career choices in a global economy; increasing your value as an employee; jobs with a future

• Don’t Let Your Bank Rob You: low-cost banking; shopping for a bank; don’t overlook credit unions; finding free checking accounts; minimizing fees; avoiding overdraft charges; interest bearing accounts, online banking and bill paying; tricks for reconciling bank statements

• Living with Taxes: understanding payroll deductions; tax withholding and Form W-4; federal and state income taxes; what are all those other deductions?; income tax brackets; tax-deferred savings in a 401(k) or IRA; free online tax preparation services; taxes and wealth-building

• The Biggest Bang for Your Buck: building a spending plan and setting financial goals; tracking where your money goes; watching out for fixed costs; thinking in terms of cash flow; setting up an emergency fund; interest rates and the power of compound interest; where to put your savings

• How Winners Manage Credit and Debt: when it makes sense to take on debt; using credit cards wisely; understanding student loan alternatives and risks; how much debt is too much; finding the best interest rate; the Fair Credit Reporting Act; minimum payments; the grace period; credit rating agencies and FICO scores; getting copies of your credit reports; identity theft

• Keys to Car Buying and Auto Insurance: understanding all the costs (fuel, maintenance, insurance, registration, financing, depreciation); total cost vs. monthly payment; new car vs. used car; owning vs. leasing; the importance of resale value; legal requirement for auto liability insurance; types of auto insurance coverage and limits; deductibles; shopping for auto insurance

• Medical Insurance--Don’t Leave Home Without It: Why you need medical coverage; when do you lose eligibility under your parents’ coverage; COBRA rights; HMOs, PPOs and other provider options; high-deductible policies; medical savings accounts; lifestyle, health, and financial security

• Understanding Money: What is money and what gives it value?; the Federal Reserve Board;; inflation and deflation; exchange rates and changes in the value of the dollar; gold and silver; interesting financial manias

In addition to the information contained in the newsletter itself, KaChing! will recommend and review a variety useful books, websites, and other financial education resources for our readers.

The Key to Lifelong Financial Education

KaChing! is really intended to help readers gain two types of financial knowledge. The first is a down-to-earth understanding of consumer economics and basic money management skills. The other is a “big picture” awareness of financial planning issues and trends in the larger financial world.

We don’t expect our newsletter to make anyone an expert in personal finance or money management. But we think for many readers this MONEYSCHOOL publication could be the key that unlocks the door to lifelong financial education.

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