Comments on: Foster kids “age out” without a financial education http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/ Common sense advice on money saving tips, how to get out of debt, high interest savings accounts, cd rates, money market accounts, mortgage rates, money management and more. Mon, 20 May 2013 01:59:04 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: rather not say. http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3066702 rather not say. Sat, 27 Oct 2012 18:24:07 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3066702 Some foster parents can't be trusted to know good person finance or to teach it to their foster children. There are enough terrible people in the foster system that simply extending it solves nothing. This kind of education has to be built into the system and required or it simply won't get done. Some foster parents can’t be trusted to know good person finance or to teach it to their foster children. There are enough terrible people in the foster system that simply extending it solves nothing. This kind of education has to be built into the system and required or it simply won’t get done.

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]]> By: rather not say. http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3066692 rather not say. Sat, 27 Oct 2012 18:20:14 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3066692 The system assumes most foster children won't amount to much, and sadly, they are mostly right. I was one of fewer than 50 foster kids in MA to graduate HIGHSCHOOL the year I did. There were few enough of us jordans furniture gave each of us a 100 dollar pda. It took me at least 5 years after that to actually get my life together and I am lucky enough to be innately talented with computers. I was able to worm my way into getting one from the state when I was 13, earning money as a painter and making up the rest from the dept of social services. Then first foster family I had wouldn't let me use it. Now I am lead dev at medium size software company, the only one without a degree and 3 years younger than the next youngest dev. By and large the system worked against me, I only turned out ok despite it. Something like this is great, but its not enough when its up to the caseworker to know about it. I had 7 caseworkers in as many years who ranged from insane to lazy to borderline retarded, with the one exception being the social worker charged with helping me transition to college. College didn't stick, but she at least attempted to show me the ropes of society. Not because there was a system in place, but because her family was wealthy and so she was able to do competent work for incompetent levels of pay. Sorry if this is borderline incoherent, this subject gets me riled up like few other things. In short: we can't count on the people being good, we need to build it straight into the system or for 80% of foster kids it won't matter. The system assumes most foster children won’t amount to much, and sadly, they are mostly right. I was one of fewer than 50 foster kids in MA to graduate HIGHSCHOOL the year I did. There were few enough of us jordans furniture gave each of us a 100 dollar pda. It took me at least 5 years after that to actually get my life together and I am lucky enough to be innately talented with computers. I was able to worm my way into getting one from the state when I was 13, earning money as a painter and making up the rest from the dept of social services. Then first foster family I had wouldn’t let me use it. Now I am lead dev at medium size software company, the only one without a degree and 3 years younger than the next youngest dev. By and large the system worked against me, I only turned out ok despite it. Something like this is great, but its not enough when its up to the caseworker to know about it. I had 7 caseworkers in as many years who ranged from insane to lazy to borderline retarded, with the one exception being the social worker charged with helping me transition to college. College didn’t stick, but she at least attempted to show me the ropes of society. Not because there was a system in place, but because her family was wealthy and so she was able to do competent work for incompetent levels of pay.

Sorry if this is borderline incoherent, this subject gets me riled up like few other things.

In short: we can’t count on the people being good, we need to build it straight into the system or for 80% of foster kids it won’t matter.

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]]> By: Bryan Greenberg http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3059342 Bryan Greenberg Wed, 24 Oct 2012 00:10:59 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3059342 The laws of New York allow foster care youths to remain in foster care until they are 21 years old. And regulations require that at about age 16, foster care youth are offered what are called PYA (preparing youth for adulthood) or ILS (independent living skills) classes - while not solely concerning financial planning, these programs do touch on the basics of budgeting, bank accounts, and basic personal financial management. The laws of New York allow foster care youths to remain in foster care until they are 21 years old. And regulations require that at about age 16, foster care youth are offered what are called PYA (preparing youth for adulthood) or ILS (independent living skills) classes – while not solely concerning financial planning, these programs do touch on the basics of budgeting, bank accounts, and basic personal financial management.

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]]> By: William @ Drop Dead Money http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3058062 William @ Drop Dead Money Tue, 23 Oct 2012 11:29:12 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3058062 The part that's worse is the athletes "graduate" from institutions who receive hundreds of millions of dollars from TV and merchandise revenues, for which they are supposed to be educating the kids in their care. The part that’s worse is the athletes “graduate” from institutions who receive hundreds of millions of dollars from TV and merchandise revenues, for which they are supposed to be educating the kids in their care.

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]]> By: Kat http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057822 Kat Tue, 23 Oct 2012 02:36:56 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057822 Same here. The clutter at the top is over the article and makes it unreadable. I think my page may look even worse since I have javascript turned off. Please guys, test your page before publishing it. If this stays, I won't. Same here. The clutter at the top is over the article and makes it unreadable. I think my page may look even worse since I have javascript turned off. Please guys, test your page before publishing it. If this stays, I won’t.

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]]> By: Lauren {Adventures in Flip Flops} http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057762 Lauren {Adventures in Flip Flops} Tue, 23 Oct 2012 01:27:45 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057762 Jenne, I don't think its that superficial a response. Yeah, there are some much bigger issues out there that are affecting these young adults. But, as hard as I've tried in my city, no one is going to massively overhaul our transportation system. What's the next best thing? Helping people navigate what's there. Jenne, I don’t think its that superficial a response. Yeah, there are some much bigger issues out there that are affecting these young adults. But, as hard as I’ve tried in my city, no one is going to massively overhaul our transportation system. What’s the next best thing? Helping people navigate what’s there.

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]]> By: Debbie http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057602 Debbie Mon, 22 Oct 2012 22:31:57 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057602 Same here - I can't read the top part of the article, and refreshing does nothing. Same here – I can’t read the top part of the article, and refreshing does nothing.

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]]> By: Rya http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057502 Rya Mon, 22 Oct 2012 20:21:37 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057502 OFFTOPIC: Your Geiko-autoinsurance-whatever ad is acting funny! The window is all over the text (so can't read the first paragraphs) and I can't find a CLOSE button. I'm using Google Chrome with Windows Millenium. I've tried to open the site from two different computers, but that ad is very persistent! Sorry for the offtopic. OFFTOPIC:

Your Geiko-autoinsurance-whatever ad is acting funny! The window is all over the text (so can’t read the first paragraphs) and I can’t find a CLOSE button.

I’m using Google Chrome with Windows Millenium.

I’ve tried to open the site from two different computers, but that ad is very persistent!

Sorry for the offtopic.

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]]> By: Samantha http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057492 Samantha Mon, 22 Oct 2012 19:48:22 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057492 I Googled the story, and it looks pretty interesting. If anyone else is curious, the ESPN movie is called "Broke" and I found this review: http://ptmoney.com/why-athletes-go-broke-review/ I Googled the story, and it looks pretty interesting. If anyone else is curious, the ESPN movie is called “Broke” and I found this review:

http://ptmoney.com/why-athletes-go-broke-review/

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]]> By: Amy http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057402 Amy Mon, 22 Oct 2012 18:44:36 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057402 This is a great article and I echo most of the sentiments above. A friend of mine went through the Foster Care system and despite having good Foster families, still struggles. She attended a state college (as an in-state student) and graduated with a 4.0, but is still struggling under a heavy debt loan (despite getting a job fresh out of college). She went back to school and earned a master's, only adding to the loan. She's buried and things are probably not going to turn around for her any time soon. One set of former Foster parents still help her out some (take her to dinner, buy her tires or big purchases once in a while), which is great, but it barely makes a dent. Compound this with a lot of emotional issues and she's really drowning, despite her hard work and efforts to support herself. These kids (and former kids) need more support, longer, that changes as they grow. If someone had helped her make better college decisions, she may have been able to avoid some of that debt, etc. This is a great article and I echo most of the sentiments above. A friend of mine went through the Foster Care system and despite having good Foster families, still struggles. She attended a state college (as an in-state student) and graduated with a 4.0, but is still struggling under a heavy debt loan (despite getting a job fresh out of college). She went back to school and earned a master’s, only adding to the loan. She’s buried and things are probably not going to turn around for her any time soon. One set of former Foster parents still help her out some (take her to dinner, buy her tires or big purchases once in a while), which is great, but it barely makes a dent. Compound this with a lot of emotional issues and she’s really drowning, despite her hard work and efforts to support herself. These kids (and former kids) need more support, longer, that changes as they grow. If someone had helped her make better college decisions, she may have been able to avoid some of that debt, etc.

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]]> By: Jenne http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057342 Jenne Mon, 22 Oct 2012 17:50:38 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057342 What a superficial response to a problem that's a heck of a lot bigger than you portray it. In a place where public transit sucks, exactly how is a kid-- any kid-- going to be able to earn enough to get their own place, buy a car, etc. once they turn 18? And if they need a car to get to work, they are already over a barrel unless they have mechanic skills and a place to do the work. An 'affordable' used car that isn't a lemon can still easily suck down a quarter of your income in repairs and maintenance, and if you need that car to keep working, you don't really have an option except to pay it. While learning to manage finance is good, a key element in the program described has to be the dollar-for-dollar match. What a superficial response to a problem that’s a heck of a lot bigger than you portray it. In a place where public transit sucks, exactly how is a kid– any kid– going to be able to earn enough to get their own place, buy a car, etc. once they turn 18? And if they need a car to get to work, they are already over a barrel unless they have mechanic skills and a place to do the work. An ‘affordable’ used car that isn’t a lemon can still easily suck down a quarter of your income in repairs and maintenance, and if you need that car to keep working, you don’t really have an option except to pay it.

While learning to manage finance is good, a key element in the program described has to be the dollar-for-dollar match.

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]]> By: Peach http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057332 Peach Mon, 22 Oct 2012 17:42:28 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057332 I liked reading about Eddye. She's a remarkable and focused young woman, and she's made some great decisions! I'm cheering for her, and hoping things get even better for her as time goes on. It was sad to hear of the young mother who lost her savings, and I know that kind of thing happens, especially with a lack of trust in the banking industry. It's probably hard to trust anyone or anything sometimes, but keeping cash at home is too risky--we were once ripped off badly, from vcr down to my son's stash of coins. Turns out it was one of the apartment maintenance crew with a pass key. Thieves are just a lot better at taking our cash than we are at hiding it. So I keep very little cash at home. I'm glad Operation Passport exists. Matching the funds is a good incentive. I'm wondering if there's also emotional and mentoring support for these kids. That's something I'll check out here in my area. Great story! I liked reading about Eddye. She’s a remarkable and focused young woman, and she’s made some great decisions! I’m cheering for her, and hoping things get even better for her as time goes on. It was sad to hear of the young mother who lost her savings, and I know that kind of thing happens, especially with a lack of trust in the banking industry. It’s probably hard to trust anyone or anything sometimes, but keeping cash at home is too risky–we were once ripped off badly, from vcr down to my son’s stash of coins. Turns out it was one of the apartment maintenance crew with a pass key. Thieves are just a lot better at taking our cash than we are at hiding it. So I keep very little cash at home.
I’m glad Operation Passport exists. Matching the funds is a good incentive. I’m wondering if there’s also emotional and mentoring support for these kids. That’s something I’ll check out here in my area. Great story!

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]]> By: Shari http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057272 Shari Mon, 22 Oct 2012 16:37:45 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057272 I refresh the page and it stays the same. Very frustrating. I really hope this isn't a sign of things to come....the ads are starting to get more intrusive. I refresh the page and it stays the same. Very frustrating. I really hope this isn’t a sign of things to come….the ads are starting to get more intrusive.

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]]> By: Fiona http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057282 Fiona Mon, 22 Oct 2012 16:36:45 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057282 Here in Kentucky, the problem of kids aging out of the system without basic skills has been a problem that the family courts are tackling head on. Children in foster care, once they reach a certain age, work with their social workers to create a plan toward independent living, whether that be renewing their place in the system so that they can pursue college, or planning for transition to the workplace. Part of the independent living plan requires that they take classes in basic skills such as maintaining an apartment, financial management, cooking, and so on. I am on a regional foster care review board and we have also recently established a specific review board that reviews kids preparing to age out and ensures that they are getting whatever services we have to offer in preparation for independence. Is it a perfect system? No, but we are constantly looking at ways to make it better, and so I'd be interested to hear what other states do. Here in Kentucky, the problem of kids aging out of the system without basic skills has been a problem that the family courts are tackling head on.

Children in foster care, once they reach a certain age, work with their social workers to create a plan toward independent living, whether that be renewing their place in the system so that they can pursue college, or planning for transition to the workplace. Part of the independent living plan requires that they take classes in basic skills such as maintaining an apartment, financial management, cooking, and so on.

I am on a regional foster care review board and we have also recently established a specific review board that reviews kids preparing to age out and ensures that they are getting whatever services we have to offer in preparation for independence.

Is it a perfect system? No, but we are constantly looking at ways to make it better, and so I’d be interested to hear what other states do.

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]]> By: Christian http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057202 Christian Mon, 22 Oct 2012 15:51:21 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057202 You are correct in that the scope and scale of these two problems aren't even close. However, I think "worse" in this context refers to the depth of financial ignorance, across the spectrum. You are correct in that the scope and scale of these two problems aren’t even close. However, I think “worse” in this context refers to the depth of financial ignorance, across the spectrum.

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]]> By: Carla http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057212 Carla Mon, 22 Oct 2012 15:50:52 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057212 I'm so glad someone brought this up. As a CASA I've seen foster homes where the children didn't even have their own toothbrush and shoes that fit let alone someone who can teach them about personal finance. Of course there are many great foster homes out there, but often a lot of time is spend on dealing with so many problems. Not only do these children lack guidance and direction, they lack <i>parenting and all the goodies that come with it. They are forced to grow up without anything telling them that they love them and will be there for them. Again, thank you for bringing this up. I currently don't have kids that are going to age out anytime soon, but some of my fellow CASAs might. I will pass this on...</i> I’m so glad someone brought this up. As a CASA I’ve seen foster homes where the children didn’t even have their own toothbrush and shoes that fit let alone someone who can teach them about personal finance. Of course there are many great foster homes out there, but often a lot of time is spend on dealing with so many problems. Not only do these children lack guidance and direction, they lack parenting and all the goodies that come with it. They are forced to grow up without anything telling them that they love them and will be there for them.

Again, thank you for bringing this up. I currently don’t have kids that are going to age out anytime soon, but some of my fellow CASAs might. I will pass this on…

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]]> By: Laura http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057192 Laura Mon, 22 Oct 2012 15:47:23 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057192 Thanks for the tip. I had the same problem and your suggestion fixed it. Thanks for the tip. I had the same problem and your suggestion fixed it.

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]]> By: Lori http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057172 Lori Mon, 22 Oct 2012 15:36:00 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057172 That is a great program to assist foster care kids toward their future goals. My husband and I fostered several kids who were teenagers. We always helped to set them up with a credit union account (which was cheaper for them than local banks and they could join since we were members.) I know foster care rules vary from state to state. In Michigan, they don't "age out" until age 20 as long as they are going to school of some type. Once they turned 18, our foster care case worker encouraged them to switch to independent living with us and the kids received the checks and paid us for room and board out of what they got. After a few months of that, she would move them out entirely into shared housing with other foster kids. Our foster care program also required before they went into independent living that they take classes with them on budgeting, saving, how to apply for an apartment and social programs such as food stamps. They also taught them how to fill out employment applications and college applications as well. We've also encouraged our former foster kids to call us if they need help with anything. That is a great program to assist foster care kids toward their future goals.

My husband and I fostered several kids who were teenagers. We always helped to set them up with a credit union account (which was cheaper for them than local banks and they could join since we were members.)

I know foster care rules vary from state to state. In Michigan, they don’t “age out” until age 20 as long as they are going to school of some type.

Once they turned 18, our foster care case worker encouraged them to switch to independent living with us and the kids received the checks and paid us for room and board out of what they got. After a few months of that, she would move them out entirely into shared housing with other foster kids.

Our foster care program also required before they went into independent living that they take classes with them on budgeting, saving, how to apply for an apartment and social programs such as food stamps. They also taught them how to fill out employment applications and college applications as well.

We’ve also encouraged our former foster kids to call us if they need help with anything.

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]]> By: LeRainDrop http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057152 LeRainDrop Mon, 22 Oct 2012 15:21:43 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057152 No, not worse. But another example of kids who have not been prepared adequately to deal with adult finances, even at a basic level. No, not worse. But another example of kids who have not been prepared adequately to deal with adult finances, even at a basic level.

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]]> By: Sarah http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057112 Sarah Mon, 22 Oct 2012 15:02:21 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057112 This is a great article and one of the most important I have read in some time. I have been thinking a lot about how to reach out to young people and those who are disadvantaged, and the one idea I think I can offer is build an emergency fund...it's critical and can help prevent you from spiraling down and it can help pull you up. But, how can I say it and not put some cash behind promoting the idea? In my early working years I've earned minimum wage and even with strong family support, it took me YEARS to build an emergency fund, but it is that underpinning of cash that helps one climb the ladder to a more comfortable life. Foster kids have the most difficult life, and I have a lot of respect for the kids who go through this system and come out pushing hard to build a better life for themselves. I will look deeper into this and push further myself to support this type of programming. Thank you for sharing this, and helping all of us see beyond our own pocketbook. This is a great article and one of the most important I have read in some time. I have been thinking a lot about how to reach out to young people and those who are disadvantaged, and the one idea I think I can offer is build an emergency fund…it’s critical and can help prevent you from spiraling down and it can help pull you up. But, how can I say it and not put some cash behind promoting the idea? In my early working years I’ve earned minimum wage and even with strong family support, it took me YEARS to build an emergency fund, but it is that underpinning of cash that helps one climb the ladder to a more comfortable life.

Foster kids have the most difficult life, and I have a lot of respect for the kids who go through this system and come out pushing hard to build a better life for themselves. I will look deeper into this and push further myself to support this type of programming.

Thank you for sharing this, and helping all of us see beyond our own pocketbook.

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]]> By: Kelly@Financial-Lessons http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057082 Kelly@Financial-Lessons Mon, 22 Oct 2012 14:47:45 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057082 I feel a little guilty that I've never even thought about this subject or the situation that "aging-out" teenagers are in. I think personal finance is something that needs to be taken much more seriously in all school systems and households across the country, especially with the economy in this state. Every high school senior should be required to take a class about personal finance (I remember ours was an optional 5 day class during senior week when there were other way better ones like self defense and yoga to choose from). Its vital for our country and young adults to be aware of the real burden of debt not only on themselves but on the American public. I feel a little guilty that I’ve never even thought about this subject or the situation that “aging-out” teenagers are in. I think personal finance is something that needs to be taken much more seriously in all school systems and households across the country, especially with the economy in this state. Every high school senior should be required to take a class about personal finance (I remember ours was an optional 5 day class during senior week when there were other way better ones like self defense and yoga to choose from). Its vital for our country and young adults to be aware of the real burden of debt not only on themselves but on the American public.

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]]> By: Mom of five http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057062 Mom of five Mon, 22 Oct 2012 14:37:31 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057062 Thanks for posting on this important topic. In most states, a child's foster parents can continue to receive payments until the child turns 20. In some states, 21. It's not a difficult process. In those cases where the foster parents are unable to fill out the form, the case worker will do it for them so long as the foster parents are willing to continue caring for the child. Fostering a child is no walk in the park, but please consider opening your home to one of these children. Thanks for posting on this important topic. In most states, a child’s foster parents can continue to receive payments until the child turns 20. In some states, 21. It’s not a difficult process. In those cases where the foster parents are unable to fill out the form, the case worker will do it for them so long as the foster parents are willing to continue caring for the child.

Fostering a child is no walk in the park, but please consider opening your home to one of these children.

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]]> By: Katie http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057042 Katie Mon, 22 Oct 2012 14:28:21 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057042 Athletes not knowing what to do with $25k is worse than aged-out foster kids with no support system or financial education? Huh. Athletes not knowing what to do with $25k is worse than aged-out foster kids with no support system or financial education? Huh.

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]]> By: Kate http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057032 Kate Mon, 22 Oct 2012 14:23:54 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057032 What a fantastic program! What a fantastic program!

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]]> By: William @ Drop Dead Money http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057012 William @ Drop Dead Money Mon, 22 Oct 2012 14:19:43 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057012 It gets worse. According to the recent ESPN movie, most athletes who graduate from those big time universities are totally unprepared to deal with their money. Bart Scott, NY Jets linebacker, told of how he took his first paycheck to a check cashing joint... because he honestly didn't know where else to go with it! The league minimum wage is $25,000 per paycheck, and those people never have that much on the premises, so they just laughed at him. It gets worse. According to the recent ESPN movie, most athletes who graduate from those big time universities are totally unprepared to deal with their money.

Bart Scott, NY Jets linebacker, told of how he took his first paycheck to a check cashing joint… because he honestly didn’t know where else to go with it! The league minimum wage is $25,000 per paycheck, and those people never have that much on the premises, so they just laughed at him.

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]]> By: LauraElle http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3057002 LauraElle Mon, 22 Oct 2012 14:18:24 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3057002 Yes, I noticed that as well. I refreshed the page and it returned to normal. Yes, I noticed that as well. I refreshed the page and it returned to normal.

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]]> By: Holly http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3056972 Holly Mon, 22 Oct 2012 14:14:37 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3056972 I was a biokid in a foster family. I've kept in touch with four or five of the many, many kids who stayed with us (some for days, many for months, a few for years) and to a one, they have all led challenging lives as adults. We're all in our 40s now, and it is sad to see the pattern repeat for many of the kids. Something like this provides a desperately-needed opportunity for change. Thanks for the info! I was a biokid in a foster family. I’ve kept in touch with four or five of the many, many kids who stayed with us (some for days, many for months, a few for years) and to a one, they have all led challenging lives as adults. We’re all in our 40s now, and it is sad to see the pattern repeat for many of the kids.

Something like this provides a desperately-needed opportunity for change.

Thanks for the info!

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]]> By: olga http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3056892 olga Mon, 22 Oct 2012 13:45:25 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3056892 Off topic: is it me or is it something new that I can't see the top of post through the almost-clear add, and when I click on add, instead of opening in another window, it opens here, and I loose still that first 2 paragraphs? Off topic: is it me or is it something new that I can’t see the top of post through the almost-clear add, and when I click on add, instead of opening in another window, it opens here, and I loose still that first 2 paragraphs?

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]]> By: Katie http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3056872 Katie Mon, 22 Oct 2012 13:20:11 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3056872 Thank you for writing this story and highlighting this organization! Their results are absolutely amazing. I am definitely going to look into how to get involved. Thank you for writing this story and highlighting this organization! Their results are absolutely amazing. I am definitely going to look into how to get involved.

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]]> By: Lisa Aberle http://www.getrichslowly.org/blog/2012/10/22/foster-kids-%e2%80%9cage-out%e2%80%9d-without-a-financial-education/comment-page-1/#comment-3056852 Lisa Aberle Mon, 22 Oct 2012 12:52:32 +0000 http://www.getrichslowly.org/blog/?p=149372#comment-3056852 We have only had one child placed with us through foster care so we don't have a lot of experience and NONE with older kids, but I am so glad this resource is available to the kids who age out. We have only had one child placed with us through foster care so we don’t have a lot of experience and NONE with older kids, but I am so glad this resource is available to the kids who age out.

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