Barack Obama's List Of "20 Things Kids Need To Know" About Using Money

Tyler Durden's picture

The following charts are a summary taken from the "Money as you Grow" presentation prepared by the President's Advisory Council on Financial Capability (created by executive order). What it highlights are "20 Things kids need to know to live financially smart lives" and is Barack Obama's personal advice to children ages 3 through 18+ on how they should spend their money. The list, which includes among it such brilliant advice as "you may have to wait before you can buy something you want", "it can be cost and dangerous to share information online" (with the NSA), "putting money in a savings account will protect and pay you interest", "the sooner you save, the faster your money can grow from compound interest", "your first paycheck may seem smaller than expected since money is taken out for taxes", "you should use a credit card only if you can pay the money owed in full each month", and of course "you need health insurance" has been pulled straight from Bizarro Day, and literally redefines New Normal humor since everything it recommends is the opposite of how the real world now works.

So who is issuing this indispensable advice?

The President's Advisory Council on Financial Capability (PACFC) was created by Executive Order 13530, which was signed by President Barack Obama on January 29, 2010. Its charter is to advise the President on promoting and enhancing financial literacy and capability among the American people. While the President's Advisory Council on Financial Capability cannot by federal statute become operational, it is charged with providing financial capability policy recommendations for the nation to the President of the United States. One of the key objectives of the President's Advisory Council on Financial Capability is to find ways to improve the financial capability of young Americans.

The purpose of this website is to inspire families, community organizations, nonprofits, and businesses to embrace Money as You Grow as a tool to promote financial literacy. This website serves as a guide to learning about and using Money as You Grow. It is intended for reference only, and is not meant to endorse or promote specific initiatives.


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AlaricBalth's picture

The one thing kids need to know about money: Fiat currency is not money.

Pladizow's picture

Didnt Marx, Stalin, Lenin, Mugabe and Hitler have this same thing?

“Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked: 'Account overdrawn.'”  - Ayn Rand

“Watch money. Money is a barometer of a society’s virtue. When you see that trade is done not by consent but by compulsion, when you see that in order to produce you need to obtain permission from men who produce nothing, when you see that money is flowing to those who deal not in goods but in favors, when you see that men get richer by graft and by pull than by work and your laws do not protect you against them but protect them against you, when you see corruption being rewarded and honesty becoming a self sacrifice, you may know that your society is doomed.” – Ayn Rand, Atlas Shrugged

MillionDollarBonus_'s picture

One of the things I like about this presentation is that it highlights the difference between “want” and “need”. The fine line that divides want is hotly debated by the American public and progressive scholars alike. I would argue that ‘needs’ are those basic things that one needs to live a dignified and comfortable life; a decent salary, healthcare, a home, a car and paid vacations. If private companies even began to meet the standards set by government jobs, we would see an enormous enhancement in living standards across the board, and many more people would have their basic needs met. 

Pladizow's picture

ZH "wants" and "needs" you to STFU!

SoberOne's picture

Compounding interest at a whopping 0.25%. What a fucking joke!

MillionDollarBonus_'s picture

What matters is not simply return, but the return to risk ratio. Assets with superior risk reward profiles such as US Treasuries will alsways outperform in the long term.

SoberOne's picture

17.5 TRILLION dollars in debt. No thanks. Gold and silver ftw!

MillionDollarBonus_'s picture

Having said that, if you're young and have a higher risk profile, I would suggest you invest primarily in equities in order to realize greater returns. Equities have a greater volatility, but economists have proven that equities always rise over the long term.

fonestar's picture

Bits are money, everything else is bullshit.  If your gold isn't validated by the blockchain, it's fake.

Skateboarder's picture

Even if your delusions were reality, I still have silver. ;)

This gubbamin 'money' guide is puke-inducing. What, you're supposed to stop skateboarding when you're 13? Assholes.

pods's picture

I saw nothing in that little skit about where the FED gets the "money" to buy up treasuries?

Or exactly where the "money" comes from when they use a CC, get a car loan, mortgage, etc.

If those were explained we would have our Henry Ford moment:

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."


johnQpublic's picture

MDB said: What matters is not simply return, but the return to risk ratio


unless return doesnt keep up with inflation

man, i just NEED to kick you down a flight of stairs

johnQpublic's picture

my fav of this list

you make money by working


check your base obammy

they make money by collecting the fruits of the labor of others

36 days til i dont have to listen to this tripe anymore

CH1's picture

The hypocricy of this is stunning. Galactic.

Meat Hammer's picture

No mention of compound interest not keeping up with inflation.  Weird. Probably just an honest mistake.  It happens.

1000 splendid suns's picture

And no mention of the government not adhering to the same rules, with $200T in unfunded liabilities or $8.5T unaccounted for at the Pentagon. Real sound money there, F'n banksters.

zaphod's picture

Why does MDB always get so many downvotes. Everything he writes is so off the wall it is clearly making fun of liberal democrats. Have we fallen so far where even his comments requires a /sarc tag?

lrdrvrZH's picture



yes, there are just too many folks out there like MDB that are serious in spouting drivel like that.

20 years ago we wouldn't have needed a 'sarcastic tag' but today......?


We live in an upside world. Right is left, up is down, correct is false. Who knows if MDB is sarcastic or not. I hope he is but I wouldn't swear to it.



DaddyO's picture

But Pods, they do know, unfortunately no one is willing to give up the pleasured lifestyle...

Self reliance is a quaint notion of a bygone era.


Indian_Goldsmith's picture

What every one keeps missing is... The title says it all...

Need to Know


fonestar's picture

Our "delusions" are spreading virally around the world.  The black market still has not caught on to the advantages of using BTC and when it does it's game over.

USD... buh-bye.

johnQpublic's picture



(oops, capslock)

theres a saturday night live skit for this

mliu_01's picture

If you are me, you will have 4 trillion dollars to spend each year.

onewayticket2's picture

Rule 21:

if you follow these rules and retain some wealth, said wealth will be taxed back to the federal government in a free stuff for votes scheme.  therefore:  disregard the prior 20 rules.

MillionDollarBonus_'s picture

Sorry I don't buy the whole bitcoin scam. If I can't hold it and touch it, then it ain't real. Case closed. I want my money to be 'backed' by something. Dollars are backed by the full faith and credit of the US government. What are bitcoins backed by?

creeko's picture

Do not get between MDB and fonestar... maybe they will destroy each other in an epic ZH thread post death match.

johnQpublic's picture

thread topic but best anyway

Bunders's picture

The full faith and credit of the block chain and it's users?

fonestar's picture

Yes!  Their blunders are corrected by Bunders!

rehypothecator's picture

24.  Money is by definition a store of value.  Those pieces of paper with green ink on them, aren't it.  

25. When you deposit money in a bank, you are making an unsecured loan to that bank, at whatever interest rate the bank pays you.  If the bank were to go bankrupt, you get in line to receive your fraction whatever portion of the bank's assets are left, after the secured creditors are first repaid.

26. The only two sure things are death and taxes.  For taxes, we have the IRS.  For death, we have Obamacare.  Have a nice day.

Mercuryquicksilver's picture

How do you hold and touch the full faith and credit of the US govt?

Bytor325's picture

Turn your head and cough..............

ParkAveFlasher's picture

You need to work to make money ... that's not a false statement, just ask the pinky that depresses "control" and the pointer that depresses "P".

The Man in Room Five's picture

^ gov employee troll. Someday soon people will decide they don't want yo' stinkin' monopoly money no mo'

csmith's picture

If I'm investing, why would I EVER invest in the non-productive entity (Treasury) which is FUNDED BY the productive one (corporate equity)? It's not a hard question.

csmith's picture

As an investor, why would I EVER want to own the non-productive entity (Treasury) that is FUNDED BY the productive one (corporate equity). Not a tough question.

Max Hunter's picture

Financial responsibility advisement from the Government.. Yeah.. that makes sense..

ShorTed's picture

your savings account pays that high?  Lucky bastard.


Peanut Butter Engineer's picture

@Soberone, you are seriously joking me, my current saving interest is only 0.02%

.25% is ten times better than what I have.

Peanut Butter Engineer's picture

@Soberone, you are seriously joking me, my current saving interest is only 0.02%

.25% is ten times better than what I have.

lrdrvrZH's picture

Yep, Savings accounts are 'return free risk' these days....

IridiumRebel's picture

We love MDB. Every "issue" needs a dissenting argument.

rehypothecator's picture

Sarchasm (n) The wide and deep chasm between a sarcastic comment and the audience it is lost upon.  

GeezerGeek's picture

You forgot a few things: smartphone (fortunately, there's the Obamaphone); intenet access at home; food. Try living a "dignified and comfortable life" without these. Close behind, but not aboolutely necessary, are subscriptions to The Nation and The New Republic, because without those people might be tempted to lend credence to Ayn Rand, Hayek, Rothbard, Ron Paul, and (shudder) even Rush Limbaugh and Zero Hedge!

USA USA's picture

Funny, I don't even read MDB (Micro Dollar Butthead) anymore before DOWN ARROWING!


Blano's picture

Cue the laugh track, our fave troll has arrived!!!

RafterManFMJ's picture

1 You need money to buy things. - Odd, no mention of gold, which is money.

2 You work to earn money. - Yep, just like 0bongo did, and the ever expanding welfare consumer class.

3 You may have to wait to buy something ... - Yes, just like the .gov does.

4 There's a difference between needs and wants. - I need rims, kicks, and spinners.

5 You need to make choices about how to spend your money. - Sweet! So I guess the 50% the .gov steals and wastes as it sees fit, that practice will end, right?

I cannot continue ... Maybe those bankers really did jump.