Press Release

Marin Voice: Believe it or not, for some things there are no apps

By Mary Jane Burke and Brett Martinez. March 8, 2014—WE HEAR it all the time these days: "There's an app for that." No matter how unique the problem, we think that an app exists for it. However, the reality is that some things are better handled in the real-world.

And our combined experience in education and financial services convinces us that in one area the "app" solution doesn't exist nor will it ever.

It's called life, and as much as we might wish, technology alone can't prepare young adults for the reality of checking accounts, credit cards, job searches, car payments, parenthood and other challenges and opportunities they will face once they leave high school and enter adulthood.

We are fortunate in Marin to have great schools, dedicated teachers and caring communities. But what we share with almost every other county in the nation is a decided lack of financial education for our children as they begin their adult lives. According to a 2013 Champlain College survey and reported in Money Magazine, 44 percent of the nation's states received a D or an F for their financial education efforts in high schools. California was one of seven receiving an F.

As parents, we watch our high school seniors realize that their lives will soon dramatically change. In Marin schools and in our Redwood Credit Union branches, we encounter young adults daily who are beginning to think about money differently but feel unprepared to navigate financial responsibilities as an adult.

For the first time, perhaps, it dawns on them that high school will really end. A job or college looms. Or is it college AND a job? Rent? Credit card, debit card, or checking account? What's a credit score and why does it matter? Who has the right answers?

While there are no quick solutions, there are educational opportunities that can help.

For the second consecutive year, Redwood Credit Union will be conducting "Bite of Reality," a financial literacy program for local high school seniors at San Rafael High School on March 18.

"Bite of Reality" provides three hours of role-playing situations to help bridge the gap between theory and practicality. The free program sets up real-world money management challenges.

Redwood Credit Union has sponsored similar programs around the North Bay in the past year, in addition to delivering financial education to teens in a variety of other ways, including through the North Bay Leadership Council's Algebra Academies and at Banking & Finance Academies it hosts each spring and summer.

Still, even with this commitment, more needs to be done to prepare students for their financial futures. Young adults who are literate far beyond their years when it comes to technology are often totally flustered by the intricacies of a checking account or debit card, or understanding the consequences of a missed credit card payment.

We are committed to providing financial education of our future jobseekers as they prepare to enter today's workforce. In the absence of a financial literacy requirement for high school graduation, we recommend other resources such as www.JumpStart.org and the National Endowment for Financial Education that can help you get the conversation started.

In reality, such programs reach a limited number of young people, so we also strongly encourage parents _ as the first and best teachers - to get involved in their child's financial education early by providing them the tools and guidance they need to make smart financial decisions that can benefit them for the rest of their lives.

And there is no app for that.

Mary Jane Burke is the Marin County superintendent of schools. Brett Martinez is president and CEO of Redwood Credit Union.