On the heels of yesterday’s conversation about Silicon Valley Bank and how little the average person understands the banking system, we start today’s show by asking, “How did you learn about personal finance?”
Then we discuss the validity of Milwaukee and Madison suing Kia and Hyundai for their very steal-able cars.
And then we discuss what could be the FIB-iest FIB move ever.
Check out this episode on Spotify and Apple Podcasts!
Yesterday, we talked about the demise of Silicon Valley Bank and one of the observations we had was how little the average person understands about our banking system. This makes sense because only 17 states require students to study financial literacy, Wisconsin not being one of them.
According to a new report by The Badger Project, there is an effort from both sides of the aisle to encourage or even mandate more personal finance in K-12 education, but like so many things, there is no clear consensus on how to fund it.
But the evidence is overwhelmingly clear that students who get some financial literacy education fare far better and, in turn, so do their communities.
Young people who receive some financial literacy instruction are:
This feels like a no-brainer when it comes to what we should invest in for kids’ education.
Otherwise, it seems as though the way many of us become financially literate is through life experience, necessity or we were lucky enough to have a parent who taught us.
Turns out, Milwaukee isn’t the only city suffering from a Kia and Hyundai problem. Madison has also entered the chat.
Officials from both cities are alleging the manufacturers are at least partly to blame because they failed to equip all their vehicles made between 2011 and 2021 with engine immobilizers and other standard anti-theft features. The spate of thefts has consumed police resources, cost taxpayers money, and endangered the public.
What standing do they have? The resolution argues the thefts amounted to a public nuisance, which is similar to arguments used by states and localities in class action lawsuits against opioid companies.
Though, the similarities seem to fall apart when you talk about who is abusing what the company is manufacturing. Opioids are addictive drugs that were overprescribed by doctors. It’s a lot harder to make the argument that Kias and Hyundais are just BEGGING for you to steal them so that these kids just can’t help themselves.
Only a FIB would buy THIS 100+-year-old historic mansion in Lake Geneva for $17m only to demolish the whole thing.
Reminder: There are 22 Days Until Wisconsin’s Spring Election.