Young women and money

We give our children two gifts - roots and wings. Roots to know where home is; wings to fly away and exercise what we've taught them. In today's world where financial security is so uncertain - young women need and want to be money smart.

The message: Teaching girls and young women the value of personal money and how to manage it is the first step toward self-reliance.

1. Money is a measure of value - of work, of time, of things yet money management is not a required subject in our nation's schools.
   
2. Mind over money - matters. It's not over your head.
   
3. It's your money so take it personally.
   

Parent money mindset: I will not pass financial ignorance on to another generation of women. "Mind Over Money Matters Basics"

1. 1. You cannot spend more than you make (earn or allowance).
   
2. 2. Importance of creating a budget aka spending plan and how to do it.
   
3. 3. Make the idea of "pay yourself first" - habit forming - for life.
   
4. 4. The easiest money to save is money you never see (automatic deduction/deposit).
   
5. 5. Talk early and often about the difference between needs and wants.
   

Parent money mindset: Every money decision has an absolute consequence.

1. Teach this and girls/young women will be more likely/more motivated to make better money choices throughout high school, college and life.
   
2. Explain the "mind over money matters" basics and do it consistently.

Teen money/college money mindset: Teens are earning money so they need to know how to manage it. College students are independently managing their money needs, online checking account, debit card, and will soon want to buy a car, invest in the stock market, rent an apartment, and eventually assume a mortgage on a home.

To do that responsibly - they must keep updating their personal money management skills - for life.

1. Mind over money - matters: good spending decisions are made by identifying what you want and why, when you want it and what it takes to get it.
   
2. Mind over money - matters: the dangers of unprotected spending.
   
3. Importance of delayed gratification.
   

Tips for teen and college women:

1. Charge it? Pay in full at the end of the month or pay interest.
   
2. Learn to manage your own money. www.lightbulbpress.com
   
3. Understanding how money works = making your money work for you.
   
4. Small, manageable changes in everyday expenses add up to savings.
   
5. Get your free annual credit reports every year - read them, challenge errors. Go to www.annualcreditreport.com or call 1-877-322-8228

About Valerie Coleman Morris:

Valerie Coleman (now Valerie Coleman Morris) was a Bay Area native when it comes to television news. She began her career in the early 70s in San Francisco at KRON-TV as a reporter and then KGO-TV as a long time anchor.

She was part of the Van Amburg/Jerry Jensen/Pete Giddings news team that branded "happy talk" as a new news genre.

Valerie's the former Business Anchor for CNN domestic and international - her dozen daily reporters were seen every day by more than 290 million households, businesses and airport networks.

She still appears on CNN as a personal finance guest expert but now focuses her works as a financial journalist/educator with a unique point of view about money.

Her "mind over money matters" approach gives the thought process for a behavioral change: re-calculating your relationship with your personal money.

Valerie's mantra: "It's your money, so take it personally."

Valerie's blog site "Women and Money"
Posts domestically, internationally every Thursday
To read it, go to thethinpinkline.com

Valerie's daily podcast "Valuable Money Tips"
For professional women
To download it, go to www.napw.com

CBS Network Radio "With the Family in Mind - Money Matters"
Three times a week syndicated radio column