Educational Media Reviews Online

As the term “financial literacy” grows in favor, systematic works like this will enable learners to internalize and apply financial principles. As the title clearly states, this series speaks directly to adolescents who may be getting her or his first part-time job, buying a first car, saving for college, etc. This work serves as a nicely paced primer on concepts and terminology in personal finance, as well as providing a healthy dose of advice and guidance in terms of spending, goal setting, personal conduct, and financial strategies. Frequent interviews with financial advisors, CPAs, auditors, wealth management advisors, etc. give an immediate sense of credibility to the series.

Disk 1 (36 minutes): Budgeting and Financial Decision-Making
The series begins without much substantive introduction. The audience is presented with basic vocabulary, and sound explanations of models and methods, such as PMI and PACED. The content proffers the need for new entrants in the workplace to assign importance to values and goals. The work suggests how one may evaluate financial alternatives in a systematic way, discusses the importance of conceptualizing and writing out goals so that they can become a clearly discernible map. One particularly unique piece of advice includes keeping a spending diary so that one may monitor spending and overall spending and saving strategies. This disk concludes with an explication of the different types of insurance, and provides a brief segment on avoiding being sucked into rampant online shopping.

Disk 2 (31 minutes): Checking Accounts and Everyday Banking
Continuing the theme of consumer caution, this installment of the series speaks of hidden fees associated with banking and credit card services, the conveniences and drawbacks of ATMs, and electronic banking security. Promoting the concept, again, of financial literacy, this portion discusses the nature of FDIC certification, the composition of a credit union, and the basics of writing a paper check securely. This disk’s content stresses the importance of account monitoring and reconcilement, so one does not to lose track of one’s finances (possibly leading to reckless spending).

Disk 3 (36 minutes): Credit, Borrowing, and Debt
This disk is possibly the weakest in the series, but only weak by comparison. While the content is very strong, the disk lacks continuity. This disk reviews common types of credit cards, provides basic terminology, and discusses the significance of a credit report. The most potent aspect of this installment is its explication of mortgages. Using tables, the work demonstrates the dramatic impacts of small differences in interest rates on the total interest paid over the life of a loan. Aside from these tables, the disk does not have a tremendous amount of graphical visual aids.

Disk 4 (32 minutes): Saving and Investing
While Disk 3 is somewhat low in visual appeal, Disks 4 and 5 overflow with instructionally effective graphics and animations. Disk 4 talks about the necessary attitude behind saving, or giving up short term benefits for amplified benefits in the future. The film skillfully and cogently demonstrates the fundamentals of investment risks and return, basic terminology, and the important concept of inflation’s erosion of value.

Disk 5 (36 minutes): Taxes and Tax Benefits
This disk enables young consumers to understand a paycheck and to monitor their paychecks for proper deductions. It discusses the rationale for taxation and withholding. It introduces the audience with the basics of W-2s, filing tax returns, exemptions, deductions and credits, and provides earnest advice regarding employer-provided incentives, such as 401(k)s.

The content is extremely well organized and the chapter navigation serves the learner beautifully. The explanations of financial terms and concepts are done exceptionally well, with practical examples and limited use of advanced jargon. A consistent absence, however, is that there are very few introductions, conclusions, or summaries. The segments jump directly into the content with very little context.

This methodical work is recommended for the most basic level of financial learning and is primarily suitable for high school students. The life lessons are communicated well, and are never too harsh or preachy in tone. The principles are always framed in terms of the benefit(s) to the audience. There is constant reinforcement of the needs to control expenditures, set goals, and keep from living beyond one’s means.

Lastly, the worth of this series may also be found in its granting guidance and information to a generation that is not growing up, for example, with constant exposure to written checks. This series does a superb job of adjusting to the knowledge base of its target age group.