This might be the nerdiest thing I’ve ever said, but….I had a dream last night about how we’re teaching personal finance. Aside from how Ridiculous that is, I woke up with a very clear impression. Here is the dream and impression:
I had a dream about a prep-style rally encouraging students to save money and knock out debt. It culminated with a white middle age lady in a pant suit going into a freestyle rap on the importance of fiscal prudence.
I’m sure that scene bubbled up from the recesses of my subconscious as a result of this article I read a couple weeks ago in which Indiana University representatives will at random times jump on a bus (painted with a caricature of a pig swinging on a wrecking ball a la Miley Cyrus) and hand out gift cards as rewards for correct answers to personal finance questions.
Here is (in my opinion) the problem with the strategy that Indiana University’s and other institutions who try to address financial issues with frivolity and merriment. Financial issues aren’t a light matter. While we can use humor to bring humanity to serious matters, the solutions aren’t any lighter than the core issues. This is my favorite clip of 2015. A hot dog eating contest is the perfect stage for outrageousness, but I fear that if you try to draw people into a heavy issue with a light hearted entree, they won’t stick.
I understand this makes me sound incredibly boring and old – believe me when I tell you nobody loves irreverent humor more than I do. But from my experience working in financial services for 15 years: You want your financial planner to take your money seriously. Your Realtor can wear flip flops (looking at houses is fun), but you want your mortgage banker to wear a blazer. I want my CPA to be so introverted he gets nervous looking at my shoes when we talk.
We respect ourselves more when we make respectable decisions. I want to be the type of person who takes my financial future seriously. Serious problems require serious solutions.