Note from Elisabeth…I did NOT write this but easily could have. I have stubbed my toe (and brain) since 2002 on this path down financial literacy hell and I use that word because it the fact that we don’t teach it to kids and teens in schools ignites a passion in me hotter and brighter than anything else has.

This letter was sent to me from Braun Mitcher, the author of The Secrets of Money Book. After four years he’s hanging his financial literacy hat up and going back to his roots to make a living in an area that works.

This letter that follows was so profound I asked him if I could share it on my blog. He was happy to say YES! Here is is…and if it doesn’t frustrate you and make you angry and want to storm something, I don’t know what will.

Read on…

Frustrations from the Financial Literacy Front Lines:

Overall, I greatly enjoyed my work the past few years as a financial literacy advocate and trying to bring a new awareness to this sweeping epidemic, but the experience certainly did not come without its share of frustrations. As a hard-driving and successful entrepreneur from the private business sector, I am used to like-minded smart people working together as a team, and making swift decisions to achieve a common goal. Let’s just say that the educational, non-profit and government sectors do not exactly work in the same manner – once you remove profit as a motive, all that seems to be left is turf (to fight over).

I decided to pursue the role of being a financial literacy advocate because it was, and still is, something that I am truly passionate about, and I felt that I could use my business experience and platform to truly make a difference and inspire the next generation – and I had the time and financial resources to do so following the sale of my last telecom business in 2004. I never had a profit or business model in mind with my financial literacy endeavor – I just wanted it to be sustainable and I did it solely because I felt it was the right thing to do. Yet, I was frequently characterized by many as a “carpetbagger,” who was only out to promote their own self interest. This incorrect judgment and labeling by literally hundreds of groups that supposedly represented the interests of people who desperately need financial literacy education, only proved to deprive people from getting the help they needed.

It seemed as though every time I turned a corner, I ran into challenge and conflict in my attempt to promote the importance of financial literacy, both nationally and on a local level. Multiple well-known national groups and individuals, who are supposedly concerned about educating the next generation, either completely refused my offer of assistance (unless I simply wanted to write them a check and keep my mouth shut), or were wholly unresponsive to my multiple contact attempts. Even in my own community, the local university, school district and several non-profits aggressively attempted to ban my attendance at their taxpayer funded “Financial Literacy Summit” in 2008, and only after involving an attorney, was I begrudgingly grantedlimited access (and not a very warm welcome) under the “open meeting statute.” I am still not sure if they were all afraid of the truth or just more concerned with protecting their own self interests, but this lack of cooperation is certainly not doing anything to benefit those who need better financial literacy. The cause needs more people working together towards a common goal, and I am generally a huge fan of effective public-private partnerships.

What I have unfortunately learned is that since there is no direct business model for financially literate consumers, there is very little incentive for anyone to actually promote it effectively. The mainstream media bombards us with sensational advertisements on how to spend money, and consumers are living in denial believing that they must keep up with the Joneses’ to be accepted. The problem seems to be that there are so many groups (more than 100 at my last count) trying to do the same thing with financial literacy education, but they are all re-inventing the wheel on their own and have no interest in working together. This is only causing to dilute the message and the available resources. Personally, I feel there needs to me more collaboration, consistent communication, curriculum consolidation and general cooperation within the financial literacy community, in order to ultimately achieve success. The doctors have the AMA, the retirees have the AARP, the gun owners have the NRA – there needs to be a single voice like this for financial literacy instead of everyone trying to do their own thing .

While my attempts to bring “financial literacy awareness and education” to the masses was significantly less successful than I had hoped, the good news is that I was able to make a difference when working with smaller groups or individuals one-on-one. While certainly not as efficient, I will take what I can get. Consumers have become conditioned by the marketing sizzle of “get rich quick schemes” who have large advertising budgets and have the incorrect lure of a “simple system that shows you how to make lots of money quickly and without working” – nothing could be farther from the truth, but this is the message you need to use if you want to effectively reach the masses. Smaller groups are more interactive and allow for more realistic discussions.

I am still clueless as to why not every school in this country starts requiring and teaching financial literacy post-hasteconsidering the lessons we have all learned from the current economic meltdown. For a variety of reasons, parents are not teaching financial literacy to their children. In America, schools are where we educate the next generation on subjects like math, English and science, but we do very little to prepare them for the real world (and it shows). Financial Literacy is a topic that will affect each and every one of us for the rest of our lives, regardless of age, income or occupation, so how can weNOT start teaching this NOW? Schools certainly have their own set of challenges, and everyone and their brother has their own pet project they think needs to get integrated into the curriculum, but I cannot think of anything that would be more beneficial at this point than financial literacy education, taught by qualified instructors.

Summary & Closing:

One thing is for sure: the need for financial literacy awareness and education still remains as great as ever. I only wish that I could have done more to make a difference, but hope that the efforts I put forth will make at least some small impact on the financial habits of those I was able to reach. It is with great appreciation that I take this opportunity to thank all of those whoHAVE supported my efforts for the past several years. I also commend those who are truly committed to improving financial literacy for the next generation and you have my ongoing support, encouragement, gratitude and appreciation for all that you do.

If you want to still keep up with my activities, please visit BraunMincher.com or connect with me online on Facebook, Twitteror LinkedIn.

Sincerely,

Braun Mincher, Financial Literacy Advocate
Executive Producer ~ Secrets of Money Movie: The Financial Illiteracy Epidemic Exposed
Author/Publisher ~ The Secrets of Money: A Guide for Everyone on Practical Financial Literacy
Creator/Speaker ~ FinancialLiteracyQuiz.com (What’s Your Score?)