Host: Should I rely on my kid's school to educate my children about money?
Janet Bodnar: You can really trust the schools to do it. Now, they are really are, a lot of schools are trying to do a lot with this. There are a number of states that have requirements that some sort of financial education be taught in schools, but what I find is that it's really a very Heramys basis and it very much depends on the classroom teacher. Classroom teachers have lots of demands on their time and sometimes they just can't fit it in or some teachers feel more or less strongly about personal finances. So, some teachers will spend a lot of time on it and sometimes not, but even more important, all the studies that I see show that kids, time and again say, that what they learn about money, most of which, most of the things they learn about money they learn from their parents and not only do they learn from their parents, but they prefer it that way. They actually like to learn from their parents. Parents need to know that they have power. They think, for example, that their kids are going to be influenced by their peers or they are going to be influenced by the media, but really and truly, first and foremost, they are influenced by their parents. You do have power. One study shows that, for example, even talking to teenagers about credit, if a parent talks to teenagers about the subject of credit, when kids go off to college they are less likely to use credit cards and less likely to charge a lot, if they do use credit cards. So, just that conversation that you are having with your kids makes a huge difference. So, it's really your responsibility, but it's a good responsibility.