{"id":9236,"date":"2019-11-18T01:32:29","date_gmt":"2019-11-18T06:32:29","guid":{"rendered":"https:\/\/www.afcpe.org\/?p=9236"},"modified":"2019-11-20T09:30:46","modified_gmt":"2019-11-20T14:30:46","slug":"having-money-and-understanding-money-two-different-things","status":"publish","type":"post","link":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/","title":{"rendered":"Having Money and Understanding Money: Two Different Things"},"content":{"rendered":"

\"\"We are surrounded by money. We use it every day. But, for many, there is not enough accessible instruction to make a difference.\u00a0 For years, schools assumed parents were teaching money management skills and parents assumed the schools were teaching it.\u00a0 The end result is that many people were never taught the basics of personal financial management.<\/p>\n

It is evident that many individuals and families are struggling. Student debt has spiraled to $1.6 trillion, 7 out of 10 households are living paycheck to paycheck, and 50% of households are not able to afford an unexpected bill of $1,500 or less.<\/p>\n

With these issues in mind, PersonalFinanceLab.com<\/a>\u00a0was born.\u00a0 The focus of our site is to teach the user how to hold onto their money, and to make smarter decisions by using our budgeting game, which covers concepts such as spending, saving, bank statements, debit, credit, credit cards, credit scores, paychecks, and much more.<\/p>\n

\n

\u201cNever spend your money before you have earned it.\u201d<\/em>
\nThomas Jefferson<\/strong><\/h3>\n<\/blockquote>\n

It also provides the user the opportunity to explore an avenue for growing their money and to learn more about the economy in terms of the world around them. This is done through our stock market simulation which allows trades to be made in real time and behaves like a stock brokerage account. Along with buying and selling stocks, users start to understand how current events impact their lives in ways they never considered.\u00a0 Both our budgeting game and stock market simulation have embedded curriculum for instructors, coaches, and teachers. They also provide reporting, competitions, and rankings while meeting the various financial literacy standards.<\/p>\n

Our hands-on tools and games\/simulations are a great way to let people learn from their mistakes\u2014before they make mistakes!<\/p>\n

\n

Confucius said \u2013 \u201cI hear and I forget. I see and I remember. I do and I understand\u201d<\/em><\/h3>\n<\/blockquote>\n

Here are 4 key fundamentals of financial literacy that we believe are important:<\/p>\n

    \n
  1. Learn the value of money,<\/strong> in terms of how long it takes to earn a dollar. This way, when you go to buy something, you will know whether it is actually worth your time.<\/li>\n
  2. Save a percentage of any money received.<\/strong> Having less to spend will force you to make smarter decisions and be more inclined to think through each spending decision a little longer.<\/li>\n
  3. Your savings will start growing and compounding<\/strong>, and can be used for your Emergency Fund and for creating passive income.<\/li>\n
  4. The most obvious: Don\u2019t spend what you don\u2019t have<\/strong> (this is easier said than done).<\/li>\n<\/ol>\n

    When talking about, or teaching about money, what is explained is too often not absorbed or fully understood. Emotions can also be a barrier. Money struggles often feel \u00a0embarrassing or frustrating, hindering understanding and comprehension. While people often know more than they realize. sometimes it takes asking \u00a0the right questions in a different way, or providing an experience for them to talk about, to ensure long-term comprehension.<\/p>\n

    With this in mind, we believe the best way to learn about money is by doing.<\/p>\n

    \n

    Xunzi said \u2013 \u201cTell me and I forget. Teach me and I remember. Involve me and I learn\u201d.<\/em><\/h3>\n<\/blockquote>\n

    Learn more about our fully customizable budgeting and stock games by visiting Content.PersonalFinanceLab.com\/demo2019<\/a><\/strong><\/p>\n

    Quote sources from:<\/strong><\/p>\n

    \u00a0<\/strong>https:\/\/www.positivityblog.com\/quotes-on-wealth-and-money\/<\/a><\/p>\n

    https:\/\/www.lifehack.org\/articles\/money\/50-money-quotes-by-famous-people-that-can-change-your-attitude-towards-money.html<\/a><\/p>\n

    https:\/\/steemit.com\/money\/@bar22oron\/money-make-the-world-go-round<\/a><\/p>\n

    Guest Contributor:<\/strong> By Paul Vasey, PersonalFinanceLab.com <\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    We are surrounded by money. We use it every day. But, for many, there is not enough accessible instruction to make a difference.\u00a0 For years, schools assumed parents were teaching money management skills and parents assumed the schools were teaching it.\u00a0 The end result is that many people were never taught the basics of personal financial management. It is evident […]<\/p>\n","protected":false},"author":4,"featured_media":9242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[117,18],"tags":[],"class_list":["post-9236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","category-symposium"],"acf":[],"yoast_head":"\nHaving Money and Understanding Money: Two Different Things - AFCPE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Having Money and Understanding Money: Two Different Things - AFCPE\" \/>\n<meta property=\"og:description\" content=\"We are surrounded by money. We use it every day. But, for many, there is not enough accessible instruction to make a difference.\u00a0 For years, schools assumed parents were teaching money management skills and parents assumed the schools were teaching it.\u00a0 The end result is that many people were never taught the basics of personal financial management. It is evident […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/\" \/>\n<meta property=\"og:site_name\" content=\"AFCPE\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-18T06:32:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-20T14:30:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/11\/photography-of-one-us-dollar-banknotes-545064.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"426\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Rachael Deleon\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rachael Deleon\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/\",\"url\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/\",\"name\":\"Having Money and Understanding Money: Two Different Things - AFCPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.afcpe.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/11\/photography-of-one-us-dollar-banknotes-545064.jpg\",\"datePublished\":\"2019-11-18T06:32:29+00:00\",\"dateModified\":\"2019-11-20T14:30:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.afcpe.org\/#\/schema\/person\/ccae601ec179bf73fabbf4b3c6f688f8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/#primaryimage\",\"url\":\"https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/11\/photography-of-one-us-dollar-banknotes-545064.jpg\",\"contentUrl\":\"https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/11\/photography-of-one-us-dollar-banknotes-545064.jpg\",\"width\":640,\"height\":426},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.afcpe.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Having Money and Understanding Money: Two Different Things\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.afcpe.org\/#website\",\"url\":\"https:\/\/www.afcpe.org\/\",\"name\":\"AFCPE\",\"description\":\"Association for Financial Counseling & Planning Education\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.afcpe.org\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.afcpe.org\/#\/schema\/person\/ccae601ec179bf73fabbf4b3c6f688f8\",\"name\":\"Rachael Deleon\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.afcpe.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ab24a29c7aadc1652d9f81f409950cf6cba10ad20c158ceaad83e8b44bbf2b4a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ab24a29c7aadc1652d9f81f409950cf6cba10ad20c158ceaad83e8b44bbf2b4a?s=96&d=mm&r=g\",\"caption\":\"Rachael Deleon\"},\"url\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/author\/rachael\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Having Money and Understanding Money: Two Different Things - AFCPE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/","og_locale":"en_US","og_type":"article","og_title":"Having Money and Understanding Money: Two Different Things - AFCPE","og_description":"We are surrounded by money. We use it every day. But, for many, there is not enough accessible instruction to make a difference.\u00a0 For years, schools assumed parents were teaching money management skills and parents assumed the schools were teaching it.\u00a0 The end result is that many people were never taught the basics of personal financial management. It is evident […]","og_url":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/","og_site_name":"AFCPE","article_published_time":"2019-11-18T06:32:29+00:00","article_modified_time":"2019-11-20T14:30:46+00:00","og_image":[{"width":640,"height":426,"url":"https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/11\/photography-of-one-us-dollar-banknotes-545064.jpg","type":"image\/jpeg"}],"author":"Rachael Deleon","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Rachael Deleon","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/","url":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/","name":"Having Money and Understanding Money: Two Different Things - AFCPE","isPartOf":{"@id":"https:\/\/www.afcpe.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/#primaryimage"},"image":{"@id":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/#primaryimage"},"thumbnailUrl":"https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/11\/photography-of-one-us-dollar-banknotes-545064.jpg","datePublished":"2019-11-18T06:32:29+00:00","dateModified":"2019-11-20T14:30:46+00:00","author":{"@id":"https:\/\/www.afcpe.org\/#\/schema\/person\/ccae601ec179bf73fabbf4b3c6f688f8"},"breadcrumb":{"@id":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/#primaryimage","url":"https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/11\/photography-of-one-us-dollar-banknotes-545064.jpg","contentUrl":"https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/11\/photography-of-one-us-dollar-banknotes-545064.jpg","width":640,"height":426},{"@type":"BreadcrumbList","@id":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/having-money-and-understanding-money-two-different-things\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.afcpe.org\/"},{"@type":"ListItem","position":2,"name":"Having Money and Understanding Money: Two Different Things"}]},{"@type":"WebSite","@id":"https:\/\/www.afcpe.org\/#website","url":"https:\/\/www.afcpe.org\/","name":"AFCPE","description":"Association for Financial Counseling & Planning Education","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.afcpe.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.afcpe.org\/#\/schema\/person\/ccae601ec179bf73fabbf4b3c6f688f8","name":"Rachael Deleon","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.afcpe.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ab24a29c7aadc1652d9f81f409950cf6cba10ad20c158ceaad83e8b44bbf2b4a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ab24a29c7aadc1652d9f81f409950cf6cba10ad20c158ceaad83e8b44bbf2b4a?s=96&d=mm&r=g","caption":"Rachael Deleon"},"url":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/author\/rachael\/"}]}},"_links":{"self":[{"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/posts\/9236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/comments?post=9236"}],"version-history":[{"count":0,"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/posts\/9236\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/media\/9242"}],"wp:attachment":[{"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/media?parent=9236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/categories?post=9236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/tags?post=9236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}