We have seen the statistics that the number one source for Gen Z financial advice is social media. In this NGPF podcast, Yanely interviews Dr. Brad Klontz and Shani Tran on how they are using TikTok to engage young people in the topic of money. They both agree that having a basic financial understanding is important, but understanding the psychology behind our money decisions is even more important. They provide helpful advice on how teachers can develop even stronger bonds with students. Enjoying!
Details:0:00~1:22 Introduction 1:22~4:02 Dr. Brad Klontz’ background in psychology 4:02~7:29 Shani Tran’s background in working with at-risk youth 7:29~13:11 Money lessons you wish you had known 13:11~20:00 The poverty mentality 20:00~26:11 Using TikTok as a platform 26:11~26:30 A word from NGPF 26:30~35:36 Increasing self-awareness about your own financial behavior 35:36~42:51 Classroom ideas 42:51~47:28 An authentic version of yourself in the classroom 47:28~50:01 Demonstrate that students today have freedom of choice 50:01~51:26 Conclusion
“The biggest tool in the room is you. It is important that adults understand the impact we have on the lives of younger people in that regard. When I worked in day care, they wanted that connection. We thrive on connecting with people as people” -Shani Tran
“Don’t be too hard on yourself if you feel like you’re playing a role, because the conversations you have with your co-workers will be very different from those of your administrators” – Dr. Brad Klontz
For more information on behavioral economics, see NGPF’s resources page on this topic.
About the Authors
Tim’s savings habits started at 7 a.m. when a neighbor with a broken hip gave him a dog walking job. Her recovery, which lasted nearly a year, led to Tim getting to know the bank clerks quite well (and building a savings account balance of over $300!). His recent entrepreneurial adventures include driving a chipper, analyzing compensation packages for Fortune 500 companies, and helping families make better college funding decisions. After volunteering in 2010 to establish a personal finance program and teach at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him. to start a new nonprofit, Next Gen Personal Finance. †
Ren has been working part-time at NGPF since 2014, where he did an internship through high school and college. With his knowledge growing alongside NGPF, he joined the team after graduating in 2020 to work full-time with a focus on teacher onboarding. He is also the editor of the NGPF podcast and makes it accessible to educators on iTunes, Stitcher, and Google Play Music. In his spare time, he enjoys trying coffee from different roasters around the world and trying out new brewing methods, although personal finance gurus tend to warn against buying a cup of joe.
This post NGPF Podcast: Dr. Brad Klontz and Shani Tran on Using TikTok as a Financial Education Platform was original published at “https://www.ngpf.org/blog/podcasts/ngpf-podcast-dr-brad-klontz-and-shani-tran-on-using-tiktok-as-a-platform-for-financial-education/”