Free Philosophy May Hurt Financial Literacy Providers

Sept. 28, 2009 - PRLog -- It is ironic numerous organizations promoting financial literacy and who teach as a basic tenet you cannot get something for nothing place so large an emphasis on recommending "free" products and programs. "It does make you take pause," stated Sam X Renick, a nationally recognized financial literacy advocate, innovator, and author who founded the Los Angeles based It's a Company. "Undoubtedly, all elements of cost, both direct and indirect, should be a consideration of any legitimate evaluation, as should effectiveness."
The effectiveness of financial literacy education was called into question last year by Loyola, Los Angeles Law School Professor Lauren E. Willis in an abstract she wrote titled Against Financial-Literacy Education.

With financial education initiatives, programs, and products being created faster than ants multiply, Professor Willis asked a question some considered an attack on the industry, does financial education work? "It really is an excellent question," shared Renick. "Regardless of whether programs or products are marketed as free or not, because they all have a cost to either the taxpayer or the consumer, this is a central question everyone should be interested in. We should also keep in mind that education is not an event, it is a process." According to the author knowledge does not always translate into appropriate action. "I am sure if it did, we would all be fit," Renick stated. "I do not know anyone who does not realize that exercise is a central component of fitness. Although I am not convinced financial education should be legislated, I am an advocate of education and believe the prepared mind has a better chance for success. I feel strongly the keys to better financial choice making are: (1) starting voluntary financial education early (2) establishing smart money habits like saving early; and (3) making lots of choices available and accessible for parents, families, and teachers who want them."

The It's a Habit Company who features storybook character Sammy Rabbit uses books, music and lives performances to inspire children as young as three to get in the habit of saving money. The Company's infectious and dynamnic approach to financial education has garnered them and trainers who use their products numerous honors including the Institute of Financial Literacy Book of the Year Award for It's a Habit, Sammy Rabbit!;
the 2007 California Jumpstart Coalition Leadership Award for Outstanding Financial Education; and the Dove Family Foundation's highest rating, 5 Doves, for their music CD, Mission 1 Celebrate Saving!

For more information on IAHC, upcoming appearances, and available resource tools please contact:
Sam X Renick, Founder
It’s a Habit! Company, Inc.
323-223-1522
http://www.itsahabit.com

About Sam X Renick and It’s a Habit! (IAHC)

It's a Habit! Company Inc. (IAHC) was co-created in 1998 by Sam X Renick in an effort to promote and encourage financial literacy in children. The Los Angeles micro-enterprise is dedicated to teaching financial literacy and other empowering life skills and habits, with a primary focus on young children and their families.  

Renick, a former financial adviser turned award wining author, songwriter and social entrepreneur, was first struck with the idea when numerous clients expressed their disappointment at not learning financial prowess at an earlier age.  After repeatedly hearing the same lamentations from his clients, Renick began writing It’s a Habit, Sammy Rabbit! with assistance from his Financial and Insurance Services partner Alonso Silva Jr.  Sam and Alonso later teamed up with illustrator Juan Alvarado and former Disney graphic designer, Carlos Rodriguez to form IAHC.

A graduate of Loyola Marymount University with a degree in Business, Renick has partnered with the Air Force Aid Society to bring financial awareness and saving strategies to the forefront of children’s minds. He spent the previous twelve years working for TRW and SAIC in subcontract and project management, where he became intimately familiar with the design and development process. As a result of immediately practicing the “from every dollar save a dime” philosophy, Sam was able to change careers twice, first in 1993 to start his own financial and insurance consulting firm, and later to form IAHC in 1998.

The mission of IAHC is to globally provide children, families, and organizations with strategic tools that encourage the multiplication of good habits, especially saving money. Along with original songs and coloring books, IAHC uses mascot Sammy Rabbit to instill in young children the importance of financial know-how.

About Sammy Rabbit
Sammy ‘the get in the habit’ Rabbit is a friend, families love and learn with. Through his story book adventures, songs, sayings, and skits at live appearances, Sammy inspires kids, trainers, and educators of all ages, but particularly kids ages 4 to 8, to start positive habits like saving money, reading, writing; to become leaders of themselves; and to make BIG DREAMS come true for themselves and their families. Two of Sammy’s favorite strategic sayings are: Saving is a great habit! From every dollar, save a dime!

Key IAHC / Sammy Highlights
Ongoing:   8 Years Touring, 6 Countries, 30 States, Reading, Singing, Dancing, Conducting Interactive Skits to 250,000+ Students, Parents, Educators, Etc.
Ongoing:   Key Partner Air Force Aid Society Financial Education Outreach Initiative
Ongoing:    Partner DoD Financial Road Shows
Ongoing:    Featured Military Saves Website

# # #

The It's a Habit Company, Inc. is dedicated to teaching financial literacy and other empowering life skills and habits in a strategic manner.