WEBVTT - Ep 366: Mind Your Money ft. Yanely Espinal 0:00:06.320 --> 0:00:12.520 Hey, hey, hey, we're back. We're black. Well, I'm black. 0:00:12.960 --> 0:00:13.720 We're brown. 0:00:13.920 --> 0:00:18.880 We're extra brown today. Ambition, ambition and this ambition. We 0:00:18.960 --> 0:00:21.799 got some extra brown in the stew today. Right, we 0:00:21.880 --> 0:00:28.360 have yan Nelly is Spania. It's banal Nellie. 0:00:28.440 --> 0:00:30.200 Where you from the Mania? 0:00:31.320 --> 0:00:33.400 That's what we're talking about, right, That's what I said. 0:00:33.400 --> 0:00:35.440 We're extra brown up in here today. Why do we 0:00:35.479 --> 0:00:38.600 gotta Domini Ghana? And he had you said Nigeria? 0:00:38.760 --> 0:00:40.720 Like, how do they say? 0:00:40.920 --> 0:00:44.080 Oh, I don't know, it's very phonetic. It's like I've 0:00:44.120 --> 0:00:47.920 heard people say, it's like yeah, Headian, Right, we got. 0:00:47.880 --> 0:00:49.160 The bunk in this sprow today. 0:00:49.840 --> 0:00:52.720 Nelly is a Brooklyn born ball of energies you will 0:00:52.760 --> 0:00:55.840 see with an intimate knowledge of financial education, culture, and 0:00:56.200 --> 0:01:01.240 politics in America known as the Internet as miss be Helpful. 0:01:02.000 --> 0:01:05.080 She's a millennial financial educator who started her career as 0:01:05.120 --> 0:01:07.040 a teacher and you know I love that because you 0:01:07.080 --> 0:01:10.440 know teachers night, and now serves as the director of 0:01:10.680 --> 0:01:15.039 educational Outreach at next Gen Personal Finance. She is currently 0:01:15.280 --> 0:01:19.360 on a political roller coaster ride across the country, convincing 0:01:19.480 --> 0:01:23.400 lawmakers successfully on my ad to make personal finance a 0:01:23.560 --> 0:01:25.400 high school graduation requirement. 0:01:25.760 --> 0:01:27.760 The girl is getting lost passed. Okay, you thought it 0:01:27.800 --> 0:01:30.240 was only me? Oh no, no, been working. 0:01:30.800 --> 0:01:33.200 Yes, Over the last four years, Janelli had has been 0:01:33.240 --> 0:01:36.520 instrumental in working with governors and state legislators to pass 0:01:36.640 --> 0:01:41.440 legislation that requires personal financial education in order to graduate 0:01:41.520 --> 0:01:44.560 in Florida, in Michigan and Georgia, in Rhode Island, in 0:01:44.640 --> 0:01:48.320 North Carolina and more. I'm sure and so honestly, Janelli 0:01:48.400 --> 0:01:51.520 has been She's just a you will see, a ball 0:01:51.520 --> 0:01:55.280 of energy, super smart and making a huge different and 0:01:55.400 --> 0:01:59.680 shift as it relates to financial education, but in a 0:01:59.680 --> 0:02:02.240 way that super tangible. And so I just love that 0:02:02.280 --> 0:02:03.960 and I just we're excited that we have you and 0:02:04.000 --> 0:02:05.680 Nelly here. You can see her on CNBC. 0:02:06.560 --> 0:02:07.600 Yeah, I think so. 0:02:07.960 --> 0:02:10.080 Well, welcome you and Nellie, thank you for coming. Oh 0:02:10.200 --> 0:02:12.959 and she's a new author of this amazing book called 0:02:13.160 --> 0:02:17.400 Mind Your Money Got in My Hand. If you if 0:02:17.440 --> 0:02:19.799 you watched this on YouTube, see you with BBC it 0:02:20.160 --> 0:02:21.760 first all you see that, you know, Ellie's wearing this 0:02:21.840 --> 0:02:22.400 pop up pink. 0:02:22.520 --> 0:02:25.120 She looks so pert that. Okay, I'm giving gold, I'm 0:02:25.160 --> 0:02:26.320 serving gold. Okay. 0:02:27.680 --> 0:02:30.320 Yeah. Her book is insightful stories and strategies to help 0:02:30.360 --> 0:02:32.639 you reach your hashtag money goals. 0:02:32.680 --> 0:02:34.160 Welcome to this stoo you and Nellie. 0:02:34.680 --> 0:02:37.240 Thank you so much girl, I have this is wild 0:02:37.400 --> 0:02:40.080 a dream come true. Love, I love Mandy. Actually got 0:02:40.120 --> 0:02:42.480 to meet Mandy in person at fin Con to meet 0:02:42.480 --> 0:02:44.200 you and person at the well building Contents for Black 0:02:44.200 --> 0:02:46.920 and Latino women and just sit have been in all 0:02:47.040 --> 0:02:49.000 of you since like twenty fifteen, twenty sixteen, and of 0:02:49.080 --> 0:02:51.400 Mandy since like twenty eighteen when I started listening to Barnhambis. 0:02:51.639 --> 0:02:53.800 So I just I'm an I'm the one that's honored 0:02:53.880 --> 0:02:54.200 to be on. 0:02:54.840 --> 0:02:57.480 We're happy to have you here. So let's get started, Like, so, 0:02:57.600 --> 0:02:59.480 how so first of all, what did you teach before? 0:02:59.520 --> 0:03:01.760 When you said you're a teacher, So what grade did 0:03:01.840 --> 0:03:02.359 you teach? So? 0:03:02.440 --> 0:03:04.280 I was a third grade teacher my first year, fourth 0:03:04.320 --> 0:03:06.320 grade for the second and third year, and then I 0:03:06.440 --> 0:03:09.720 pivoted out to wrap around services and nonprofit literacy intervention. 0:03:10.160 --> 0:03:12.200 Okay, So then how how did you make that Because 0:03:12.200 --> 0:03:14.079 a lot of teachers sometimes listen or people who just 0:03:14.120 --> 0:03:16.400 want to pivot. How did you make this pivot from 0:03:17.160 --> 0:03:20.359 elementary school teacher to you know, director of what is 0:03:20.400 --> 0:03:21.600 the education? You know? 0:03:22.040 --> 0:03:24.639 Right education outreach. So what I did was I was 0:03:24.720 --> 0:03:27.280 kind of thinking like, Okay, what are the adjacent skill 0:03:27.360 --> 0:03:30.639 sets that I could leverage, right, Because the reality is, 0:03:30.639 --> 0:03:34.239 as a teacher, you have so many skills. You know this, 0:03:34.520 --> 0:03:36.560 I mean getting in front of kids and getting them 0:03:36.600 --> 0:03:39.400 to think that fractions are so exciting. You have to 0:03:39.600 --> 0:03:42.320 sell that. So you have sales skills, even though you 0:03:42.360 --> 0:03:44.640 don't call it sales in the classroom, that's what it is. 0:03:45.040 --> 0:03:48.520 You have communication skills, presentation skills or communication as well 0:03:48.560 --> 0:03:51.800 as email written communication. You have the ability to plan 0:03:52.000 --> 0:03:54.000 long term. You think out, you know, for the whole 0:03:54.040 --> 0:03:55.680 rest of the school and sequence for your school year. 0:03:55.680 --> 0:03:58.440 You plan in ahead. You know, management skills because you're 0:03:58.440 --> 0:04:01.200 project managing, clash trips and all kinds of you know, 0:04:01.360 --> 0:04:04.600 events and concerts and things. So I just felt like, Okay, 0:04:04.640 --> 0:04:06.680 there are way too many skill sets that I developed 0:04:06.680 --> 0:04:08.680 in my few years teaching for me to sleep on 0:04:08.760 --> 0:04:10.480 that and act like that's not a big deal. So 0:04:10.560 --> 0:04:13.200 instead of just limiting myself to education, I started thinking, 0:04:13.240 --> 0:04:14.840 all right, I want to learn about business. I want 0:04:14.840 --> 0:04:16.440 to learn about making money, So how do I do 0:04:16.600 --> 0:04:19.400 that in a way that's still connected to my education? Skills, 0:04:19.680 --> 0:04:22.400 and so I actually started working for a private education company. First, 0:04:22.520 --> 0:04:24.960 right after teaching, I went and became the director of 0:04:25.040 --> 0:04:28.240 an after school center that did math and reading after school. 0:04:28.839 --> 0:04:30.880 And then you know, I learned how to collect tuition 0:04:31.000 --> 0:04:33.280 from parents and run the tuition, run the numbers, pay 0:04:33.320 --> 0:04:36.040 the bills for the center, and you know, call people 0:04:36.160 --> 0:04:38.360 up and remind them, advertised market the center to get 0:04:38.400 --> 0:04:40.920 new clients. So a lot of that business stuff came 0:04:41.080 --> 0:04:43.640 after I realized that I could just layer that right 0:04:43.720 --> 0:04:45.839 on top of the skills I learned in an educational setting. 0:04:46.320 --> 0:04:47.120 Okay, I love that. 0:04:47.200 --> 0:04:49.240 We love a pivot, Okay, but I always say, like 0:04:49.760 --> 0:04:51.760 the best, like being a teacher, you were prepared for 0:04:51.839 --> 0:04:54.920 everything girls, right right, you are a nurse, you're a doctor, 0:04:55.279 --> 0:04:59.000 you're a parent, you're a caretaker. You know, like on 0:04:59.160 --> 0:05:00.560 top of that, so if you you are a teacher 0:05:00.560 --> 0:05:02.240 and you're listening, you're like, oh, I don't know, girl, 0:05:02.440 --> 0:05:03.680 you are ready for ball? 0:05:03.920 --> 0:05:05.080 Okay serious. 0:05:05.240 --> 0:05:06.440 You know it's funny because I was talking to this 0:05:06.480 --> 0:05:09.120 woman who is now a very successful entrepreneur in our 0:05:09.160 --> 0:05:11.800 space financial literacy education, and she was like, you know, 0:05:11.960 --> 0:05:13.400 because I was a teacher, I always think that if 0:05:13.440 --> 0:05:15.080 I don't want to do my business anymore, like I'm 0:05:15.080 --> 0:05:16.400 just gonna have to go back to being a teacher. 0:05:16.600 --> 0:05:19.920 I was like, what, what would make you think that 0:05:20.040 --> 0:05:22.040 the only option you have is going back to the 0:05:22.040 --> 0:05:24.920 classroom When you literally are an entrepreneur with a successful 0:05:25.000 --> 0:05:28.320 business who started as a teacher. That's your first step. 0:05:28.400 --> 0:05:31.200 That doesn't mean you circle back, that's your first step. 0:05:31.279 --> 0:05:33.920 Now you can move to so many different areas, you know, 0:05:34.000 --> 0:05:37.080 so many different lines of work. So I'm shocked every 0:05:37.080 --> 0:05:38.400 time I hear teachers say like they don't know what 0:05:38.440 --> 0:05:40.120 else to do besides teacher, I'm like, what do you 0:05:40.320 --> 0:05:44.080 mean any so many skills? Yes, really honestly anything, yes. 0:05:44.320 --> 0:05:48.040 Yes, so so so people always ask me, like, you know, 0:05:48.080 --> 0:05:49.480 how did you get this law passed, you know, in 0:05:49.520 --> 0:05:51.840 the state of the Jersey making financial education mandatory for 0:05:51.920 --> 0:05:52.800 middle school. 0:05:52.839 --> 0:05:54.600 And I'd be like, girl, I don't know, so no, 0:05:54.720 --> 0:05:55.200 that's not true. 0:05:55.240 --> 0:05:58.360 It's that like I I one of my friends, Angela, 0:05:58.680 --> 0:06:00.440 she actually used to take my class at the United 0:06:00.480 --> 0:06:02.400 Way that I was teaching at the time. She had 0:06:02.440 --> 0:06:04.960 like a nonprofit but she just got to be really 0:06:05.000 --> 0:06:06.960 well known in Jersey City for her good works, and 0:06:07.000 --> 0:06:09.160 they convinced her to run for Assembly women. 0:06:10.320 --> 0:06:12.680 This is maybe like five six years ago, and she 0:06:12.839 --> 0:06:14.400 said okay, And the. 0:06:14.440 --> 0:06:16.120 First thing she did was reach out to me and said, 0:06:16.360 --> 0:06:18.880 I think we should have some sort of financial education law. 0:06:19.320 --> 0:06:21.560 And I knew New Jersey had something like for high school, 0:06:21.560 --> 0:06:23.720 but I, from teaching preschool, was like, I want to 0:06:23.720 --> 0:06:25.760 see something for the babies. So we started to work 0:06:25.839 --> 0:06:28.040 on it and we ended up getting a law pass 0:06:28.080 --> 0:06:31.560 for middle school. But if I'm being honest, I did 0:06:31.600 --> 0:06:33.880 it like I don't know the system. Like people ask 0:06:33.920 --> 0:06:35.760 all the time, like you know, I'm just a bill 0:06:36.200 --> 0:06:37.320 sitting on Capitol. 0:06:37.440 --> 0:06:42.600 He'll like, girls, I don't know. So now we have 0:06:42.800 --> 0:06:43.360 you who has. 0:06:43.360 --> 0:06:47.000 Done it again and again and again and again. So 0:06:47.200 --> 0:06:50.120 we're gonna ask the and allie, girl, how can you 0:06:50.160 --> 0:06:52.360 get these laws best? Right? So, like I said, I 0:06:52.480 --> 0:06:54.760 just was like, girl, I knew Angela and we worked together. 0:06:55.000 --> 0:06:56.760 But like, what does it actually look like? Because people 0:06:56.800 --> 0:06:59.160 ask all the time. Someone's listening and they're like I 0:06:59.240 --> 0:07:01.400 want this in text, I want this and blah blah blah. 0:07:01.600 --> 0:07:04.560 So so one how like what does your process look like? 0:07:04.680 --> 0:07:06.920 And then too, if someone is listening and wants to 0:07:06.960 --> 0:07:08.280 push it in their state. 0:07:08.480 --> 0:07:09.040 What can they do? 0:07:09.720 --> 0:07:11.880 Yes, okay, well, first things first, just like you did, 0:07:12.160 --> 0:07:13.960 you have to get luked in and connected with somebody 0:07:14.000 --> 0:07:17.200 who is in the political system, right, because the reality is, 0:07:17.880 --> 0:07:20.440 most bills that get passed or that you know, become 0:07:20.520 --> 0:07:23.040 signed into law came from a bill author of bill 0:07:23.080 --> 0:07:26.800 sponsor or co authors who are in office, and so 0:07:27.000 --> 0:07:28.640 for the most part, that's that's where it starts. You 0:07:28.720 --> 0:07:30.600 have to start connecting with somebody who is going to 0:07:30.640 --> 0:07:33.760 be the person to champion this issue by way of 0:07:34.200 --> 0:07:36.680 a clear bill that says this is what has to happen. 0:07:36.720 --> 0:07:38.880 So tell me the type of people like senator government, 0:07:38.960 --> 0:07:42.120 like what like sens Okay, So, because we're talking about education, 0:07:42.560 --> 0:07:43.679 this is not a federal issue. 0:07:43.840 --> 0:07:46.360 Education in our country is highly localized. It's state by 0:07:46.400 --> 0:07:49.320 state by state, so it has to be a local official. 0:07:49.360 --> 0:07:51.200 So it could be a senator or can be a 0:07:51.280 --> 0:07:53.960 representative in your state does have to be a state person, 0:07:54.320 --> 0:07:57.080 and then it could also be others like assembly people, 0:07:57.120 --> 0:07:59.280 council members. But the reality is the most of those 0:07:59.320 --> 0:08:02.240 bills that get that are successfully moved through the process 0:08:02.280 --> 0:08:05.560 within education have to go through the Education Committee, and 0:08:05.680 --> 0:08:08.240 the Education Committee members are going to be senators on 0:08:08.320 --> 0:08:11.480 the Education Committee on the Senate side and representatives who 0:08:11.520 --> 0:08:13.520 are members of the Education Committee on the House side, 0:08:13.680 --> 0:08:15.680 so either side of the chamber. But you need somebody 0:08:15.720 --> 0:08:17.360 who's a senator or a rep. To say I care 0:08:17.400 --> 0:08:19.520 so much about education, I'm going to introduce this bill 0:08:19.600 --> 0:08:21.200 and make sure that it gets on the agenda for 0:08:21.280 --> 0:08:24.120 the next meeting of the Education Committee, because they have 0:08:24.200 --> 0:08:26.520 meetings all the time, but they don't always they don't 0:08:26.520 --> 0:08:28.840 always visit every bill that gets introduced. 0:08:28.920 --> 0:08:32.080 Okay, so first that's first, Like, for example, I knew 0:08:32.080 --> 0:08:35.679 Assembly women and v McKnight, but you're right. She then 0:08:35.760 --> 0:08:38.679 had to find like a co sponsor who was a senator, right, 0:08:39.120 --> 0:08:40.760 and then she told me we have to first get 0:08:40.840 --> 0:08:42.959 through the committee, the Education Committee. To your point, I 0:08:42.960 --> 0:08:46.160 remember her telling me that she wanted me to testify, 0:08:46.200 --> 0:08:48.400 but I couldn't. I was out of state during that time. 0:08:49.360 --> 0:08:52.240 But I got to meet with some constituents, you know, 0:08:53.040 --> 0:08:56.000 and so beforehand, like there were like some superintendents and 0:08:56.040 --> 0:08:58.200 principles or whatever, to sit and talk to them about 0:08:58.240 --> 0:09:00.240 why I thought this was a really good idea, and 0:09:00.320 --> 0:09:02.000 so that way they could take it to the committee 0:09:02.000 --> 0:09:04.120 and say because At first, they were opposed to it 0:09:04.640 --> 0:09:06.600 because like so many educators, we're like, we don't need 0:09:06.679 --> 0:09:10.559 one more mandate for yeah, another thing, you know. But 0:09:10.720 --> 0:09:12.520 as a teacher, I knew exactly what they were saying. 0:09:12.520 --> 0:09:14.319 I was like, sis, I get it, So this is 0:09:14.360 --> 0:09:14.640 how I. 0:09:14.720 --> 0:09:16.840 Envision it being playing out in the classroom. 0:09:17.120 --> 0:09:19.079 And so at the end, you know, they turned over 0:09:19.120 --> 0:09:20.480 and we're like okay, and they were able to take 0:09:20.520 --> 0:09:23.319 that back to the committee themselves and so okay. So 0:09:23.440 --> 0:09:25.679 then it goes through committee and then it gets voted 0:09:25.720 --> 0:09:26.200 on by. 0:09:26.080 --> 0:09:29.000 What by the all of the members of the Education Committee, 0:09:29.200 --> 0:09:30.880 So then it has to go on both sides, so 0:09:31.120 --> 0:09:34.439 the whichever side of the chamber is started on. So 0:09:34.520 --> 0:09:36.640 let's say it starts in the House Committee of Education. 0:09:37.280 --> 0:09:38.640 They are going to have a meeting. They're going to 0:09:38.679 --> 0:09:40.160 put that bill on the agenda. They're all going to 0:09:40.200 --> 0:09:41.880 read through it, they're all going to discuss it that 0:09:42.000 --> 0:09:43.360 some of them are going to nitpick, like I don't 0:09:43.440 --> 0:09:45.640 like that language, I don't like that word, I don't 0:09:45.720 --> 0:09:47.880 like this or that, and then they'll get feedback, they'll 0:09:47.920 --> 0:09:50.000 do the vote. If it's a majority, ya's, it gets 0:09:50.080 --> 0:09:52.280 moved over to the next Education committee, so it'll be 0:09:52.320 --> 0:09:53.839 on the House side. If the Senate started, then it 0:09:53.880 --> 0:09:56.319 goes over the House. If the House started, it passes House, 0:09:56.320 --> 0:09:58.679 then it goes to the Senate Education Committee. Both education 0:09:58.760 --> 0:10:00.640 committees on both sides of the chain have to vote 0:10:00.679 --> 0:10:04.520 majority yes. Once that happens, the bill where the bill originated, 0:10:04.920 --> 0:10:07.719 it ends up going back to that committee again just 0:10:07.800 --> 0:10:09.719 to final cross the t's and dot the ees and 0:10:09.760 --> 0:10:12.160 make sure they like any amendments or changes that were 0:10:12.200 --> 0:10:15.319 made by the second committee that looked at it. And 0:10:15.440 --> 0:10:18.120 then if there's one other part of the process which 0:10:18.120 --> 0:10:20.040 is little annoying, but if there's any mention of money, 0:10:20.520 --> 0:10:22.800 appropriations or funds, then it might have to go to 0:10:22.960 --> 0:10:25.720 another meeting to get approved by folks who are going 0:10:25.760 --> 0:10:27.480 to look at that appropriation, who look at that the 0:10:27.559 --> 0:10:30.480 money part. Sometimes that's the appropriations committees, you know, depending 0:10:30.520 --> 0:10:32.280 on the state. But the folks who deal with like 0:10:32.400 --> 0:10:34.719 the budgetary items in a bill, they will have to 0:10:34.760 --> 0:10:36.560 look at it and see like, well, where's that money 0:10:36.600 --> 0:10:38.360 coming from? Is this feasible before we go ahead and 0:10:38.360 --> 0:10:39.599 pass this bill. We need to make sure we have 0:10:39.679 --> 0:10:42.280 the money. And so that's why you know, when I 0:10:42.360 --> 0:10:43.679 do a lot of this work. I try and make 0:10:43.679 --> 0:10:46.240 sure that the bills don't really have any funding notes 0:10:46.280 --> 0:10:49.360 on them because it's really not necessary. Honestly, most people 0:10:49.440 --> 0:10:52.000 today in financial education will say, oh, but then we 0:10:52.040 --> 0:10:55.199 can't buy textbooks, And I'll try and tell people what 0:10:55.640 --> 0:10:58.319 textbook is going to keep up to date with the 0:10:58.559 --> 0:11:01.719 constant changes in money in the world of finance, like 0:11:01.880 --> 0:11:04.160 cash have Venmo didn't exist a couple of years ago, 0:11:04.480 --> 0:11:07.280 cryptocurrency didn't exist ten years ago. You print a textbook, 0:11:07.320 --> 0:11:09.760 you're wasting your money. This has really got to be 0:11:09.840 --> 0:11:13.040 twenty first century relevant. Tax loss change. Every few years, 0:11:13.360 --> 0:11:16.439 new apps come out. It's gotta be online based. Now 0:11:16.559 --> 0:11:18.520 you can print things, you can print articles, you can 0:11:18.559 --> 0:11:21.240 print worksheets and things. But the reality is for this 0:11:21.400 --> 0:11:24.079 to be relevant and up to date, it has to 0:11:24.160 --> 0:11:26.800 be online based. So an online curriculum is generally going 0:11:26.840 --> 0:11:30.000 to be best. Really shouldn't be relying on textbooks and workbooks. 0:11:30.400 --> 0:11:32.000 And then the second thing is that they'll say, oh, 0:11:32.000 --> 0:11:34.959 but we need money for that curriculum. There are so 0:11:35.400 --> 0:11:39.600 many free providers. Council of Economic Education and jump Star 0:11:39.679 --> 0:11:42.080 have been in the game for so long. Other players 0:11:42.120 --> 0:11:45.040 like Junior Achievement and so many. I mean, we could 0:11:45.040 --> 0:11:47.480 literally go on and on and on about the amazing 0:11:47.600 --> 0:11:51.640 free educational resources. Fool Proof has resources. You know, different 0:11:51.720 --> 0:11:54.640 federal reserves from local different state reserves have a bunch 0:11:54.679 --> 0:11:57.800 of curriculum and MGPF where I work, you know, they 0:11:58.000 --> 0:12:00.920 also have a huge curriculum for or a full semester 0:12:01.080 --> 0:12:04.600 course for middle school, for high school, and additional units 0:12:04.679 --> 0:12:09.600 like cryptocurrency basics, the history of racism in finance entrepreneurship. 0:12:09.720 --> 0:12:11.880 I mean, if you have the time and you want 0:12:11.880 --> 0:12:14.079 to really develop a comprehensive course, you have everything you 0:12:14.160 --> 0:12:16.719 need on this website and it is free ninety nine. 0:12:16.800 --> 0:12:18.800 So when people try to make this argument about the 0:12:18.880 --> 0:12:20.880 funding part, I'm saying, listen, that's just going to make 0:12:20.920 --> 0:12:24.640 the process longer and more difficult, and honestly, it's not 0:12:24.720 --> 0:12:26.559 necessary in twenty twenty three and beyond. 0:12:26.880 --> 0:12:29.040 So then both sides vote. If it goes majority, and 0:12:29.120 --> 0:12:30.720 then the budget is not an issue, then it. 0:12:30.760 --> 0:12:32.480 Goes what to the governor's de's Then it goes to 0:12:32.520 --> 0:12:34.439 the governor's desk, and every state is different when it 0:12:34.480 --> 0:12:36.440 comes to the governor, but the governor has to sign 0:12:36.480 --> 0:12:37.920 the bill so that it can become law and it 0:12:37.960 --> 0:12:39.439 has to be a wet in signature. They have to 0:12:39.559 --> 0:12:43.040 actually sign. But some states have you know, special asterisks 0:12:43.080 --> 0:12:44.840 to that rule. So to be like the governor has 0:12:44.880 --> 0:12:48.120 to sign it within fourteen days or it automatically becomes law. 0:12:48.559 --> 0:12:51.360 And it's like, oh, so someone that's opposite, like, for 0:12:51.440 --> 0:12:54.199 example of New Jersey, the governor at the time, hell, 0:12:54.240 --> 0:12:56.760 he ain't my governor, Governor Christie. He said I'm going 0:12:56.840 --> 0:12:58.160 to sign, I'm going to sign, I'm gonna sign it. 0:12:58.400 --> 0:13:00.640 He was on his way out, didn't sign it, and 0:13:00.760 --> 0:13:02.880 so it's the opposite. It gets kicked out, it does 0:13:02.920 --> 0:13:05.040 not become law, and so we have to literally start 0:13:05.080 --> 0:13:06.240 the process again. 0:13:06.040 --> 0:13:10.160 And over again. Girls, So you know how this works intimately, 0:13:10.240 --> 0:13:12.280 But yeah, every state's a little different. Some states it'll 0:13:12.280 --> 0:13:14.440 be like they have twenty one days, they have fourteen days. 0:13:14.440 --> 0:13:16.040 If they don't sign, it becomes law, or if they 0:13:16.040 --> 0:13:18.440 don't sign, they have to start the process all over again. 0:13:18.840 --> 0:13:21.200 And that happens any step in the process. So let's 0:13:21.200 --> 0:13:23.679 say you find the champions, you find the sponsors, the 0:13:23.920 --> 0:13:25.720 legislators who are going to introduce this bill. They're going 0:13:25.760 --> 0:13:27.080 to write it out the way that you know they 0:13:27.160 --> 0:13:29.559 want it presented. Then they get yes votes and the 0:13:29.760 --> 0:13:32.439 whole Education Committee on the House side. Then it moves 0:13:32.480 --> 0:13:35.160 to the Senate side, and most people say no, Okay, Well, 0:13:35.240 --> 0:13:37.319 now the bill's dead. Even though it passed the first part, 0:13:37.360 --> 0:13:39.439 it didn't pass the second part. It might pass the 0:13:39.520 --> 0:13:41.960 first part, go to the second part, get all yes 0:13:42.080 --> 0:13:44.400 is in the second chamber in the second part, and 0:13:44.600 --> 0:13:46.600 then go back to the first part. And they don't 0:13:46.800 --> 0:13:49.920 like one of the amendments that the second Education Committee made, 0:13:50.080 --> 0:13:53.680 So now it's dead again. So so many bills, most bills, 0:13:53.760 --> 0:13:56.160 the majority of bills every year that get introduced, die 0:13:56.360 --> 0:13:59.599 a silent death. And so for these bills to be 0:13:59.640 --> 0:14:02.599 succeed right now, I mean, it is amazing. It is 0:14:02.720 --> 0:14:04.800 the governor's signs. It's like a big eye. 0:14:04.880 --> 0:14:06.520 I know, I have to say, I have to shout 0:14:06.520 --> 0:14:09.520 out to like sister girl and so d midnight. She 0:14:10.000 --> 0:14:13.679 has she's one of the most successful law passers in 0:14:13.720 --> 0:14:14.520 the state of New Jersey. 0:14:14.800 --> 0:14:16.040 She has gotten so many laws. 0:14:16.080 --> 0:14:18.640 To your point, it's very difficult because the first the 0:14:18.720 --> 0:14:22.520 first iteration of our bill was elementary and middle school. 0:14:22.760 --> 0:14:24.480 Got to the Governor's desk, he said, he signed it, 0:14:24.520 --> 0:14:27.040 he left office, did not sign it, Patty, Betty right, 0:14:27.080 --> 0:14:30.200 but Gord knows best because look at him anyway. 0:14:30.520 --> 0:14:32.520 So it went back to the drawing board. 0:14:32.600 --> 0:14:33.840 And when we went back to the drawing board, all 0:14:33.880 --> 0:14:35.360 of a sudden, the same people are like, why is 0:14:35.400 --> 0:14:36.360 elementary school in here. 0:14:36.360 --> 0:14:37.760 I'm like, it's the same bill as before. 0:14:38.280 --> 0:14:41.160 No, we don't like that, brand new yes, And so 0:14:41.280 --> 0:14:43.760 we actually had to remove the elementary school component and 0:14:43.840 --> 0:14:45.920 we just got the middle school component. At that point 0:14:45.960 --> 0:14:48.200 we were like, let's just do something, and so that's 0:14:48.240 --> 0:14:50.040 what happened that we were able to push it through. 0:14:50.480 --> 0:14:52.480 It did get signed, but they made us drop the 0:14:52.520 --> 0:14:53.400 elementary school part. 0:14:53.480 --> 0:14:55.560 So to your point, at that all the time we 0:14:55.640 --> 0:14:58.200 get people saying, well, we would support this if it 0:14:58.280 --> 0:15:00.480 included elementary school, middle school, and high school, but since 0:15:00.480 --> 0:15:02.680 it's only high school, we won't sport. I'm like, we 0:15:02.920 --> 0:15:05.080 have you have to get specific when you're trying to 0:15:05.120 --> 0:15:08.000 get something done. It's hard enough to get one level 0:15:08.040 --> 0:15:10.520 in the education system. You're trying to do too much 0:15:10.640 --> 0:15:13.200 all at once. So I mean, with the work at MGPF, 0:15:13.240 --> 0:15:15.400 I'll tell you we came up with five principles. We 0:15:15.480 --> 0:15:16.840 did a lot of research, we came up with a 0:15:16.840 --> 0:15:18.960 bunch of reports. We looked at all of the latest 0:15:19.080 --> 0:15:21.720 data about the effectiveness of financial education and we looked 0:15:21.760 --> 0:15:24.520 for the rule, what is the one thing that actually 0:15:24.680 --> 0:15:28.080 makes it effective to changing behaviors, like helping students save 0:15:28.200 --> 0:15:30.600 more money, get better interest rates on their college loans. 0:15:30.840 --> 0:15:33.080 You know, understand the fafts know how to get the 0:15:33.120 --> 0:15:35.280 best rate on their car loan, have really good credit 0:15:35.320 --> 0:15:37.200 scores when they get into college, and beyond, like what 0:15:37.480 --> 0:15:41.240 makes those results happen? And the main things that came 0:15:41.320 --> 0:15:43.520 up from the research was it has to be just 0:15:43.680 --> 0:15:46.080 in time. So one of the main pieces of research 0:15:46.160 --> 0:15:47.960 came from this metal analysis of like one hundred and 0:15:48.000 --> 0:15:50.480 sixty thousand participants in this study, and the thing that 0:15:50.520 --> 0:15:52.160 they found was that if you teach them a little 0:15:52.200 --> 0:15:56.480 too early, it's great for exposure, but not for results, 0:15:56.560 --> 0:15:58.480 because what happens is that they lose it. They forget 0:15:58.520 --> 0:16:00.720 about it by the time they actually going. 0:16:00.600 --> 0:16:01.240 To apply it. 0:16:01.360 --> 0:16:02.480 They're like, wait, what was that stuff? 0:16:02.480 --> 0:16:03.520 When they learn about that when. 0:16:03.800 --> 0:16:07.040 Second third grade? I remember, And so it's great for exposure, 0:16:07.160 --> 0:16:09.840 but not for results. And similar with middle school. Great 0:16:09.880 --> 0:16:12.040 for exposure, great for preparing them for high school, but 0:16:12.080 --> 0:16:14.200 when it comes to the results. The results really happen 0:16:14.560 --> 0:16:16.440 right when the students are going to apply the knowledge. 0:16:16.480 --> 0:16:18.560 So if you want them to learn about car insurance, 0:16:18.760 --> 0:16:21.000 do it when they got their driver's license. They can't 0:16:21.000 --> 0:16:22.960 get a driver's license till they're sixteen years old, so 0:16:23.080 --> 0:16:25.120 it's got to be sixteen seventeen years old, which is 0:16:25.240 --> 0:16:27.200 junior year and senior year in high school. So the 0:16:27.320 --> 0:16:29.720 majority of the legislation that I've championed that the work 0:16:29.760 --> 0:16:32.760 we do has pushed forward is really legislation that includes 0:16:32.880 --> 0:16:36.080 junior and senior year having a required full semester class 0:16:36.120 --> 0:16:39.400 of standalone personal finance. None of this business of sharing 0:16:39.760 --> 0:16:43.360 sharing this class. So this part of the class is budgeting, 0:16:43.360 --> 0:16:45.080 and then this part is economics, and then that part 0:16:45.160 --> 0:16:47.680 is with no. It has to be full semester dedicated 0:16:47.760 --> 0:16:49.640 to nothing but personal finance topics. 0:16:50.000 --> 0:16:52.200 Because I loved that, I just little took some notes 0:16:52.360 --> 0:16:55.640 like just in time financial education right when they applied knowledge. 0:16:55.800 --> 0:16:58.320