TORRANCE TRIBUNE July 26, 2012 Page 13 Genealogy from page 3 Finance one instance where that cultural identity was in that town would know we were there.” Improving Financial Literacy, Here and Abroad not something that people wanted to hold Connecting with individuals in one’s past onto, in the early part of the 19th Century is, for the Raths, what makes their efforts By Jason Alderman than half of Brazilians surveyed believe such for Germans.” worthwhile. “It’s not about how far back you Would you be surprised to learn that parents education should begin before age 9. For members of the genealogical society, can go and that’s usually the first question in many poorer countries often spend consid- • In over half the countries, a majority believe the challenges are many but they define the people ask,” Taffy Rath said. “We try to erably more time talking with their children that teens and young adults do not understand experience of having to go back in time to discourage that because we can both she about money management than in wealthier financial basics, such as budgeting, savings, discover and learn about those relatives they and her husband go back to the 1500s, but countries like the United States? I was. debt and spending responsibly. never met. “This was something that we it’s not about how far back you go. It’s about That’s just one interesting nugget revealed Bodner noted that these results add to our used as a roadmap to direct us and keep us how much do you know about each of those at the sixth annual Financial Literacy and body of knowledge about financial literacy. active--it gave us the map to be able to do ancestors on your way back.” Education Summit recently hosted by the “You first have to identify what the problems this while having a lot of fun,” Rath said. Siess added, “Understanding what was Federal Reserve Bank of Chicago and Visa are in your particular country, city or school, “We have been able to see the country one going on at a specific point in time can be Inc. Renowned U.S. and international financial and then determine what is effective in handling mile at a time instead of just flying over it. the key to understanding your ancestors and experts tackled the theme, “International Solu- those situations,” she said. A more detailed We have been able to visit all these different in identifying that particular spot from where tions to Improving Financial Literacy,” sharing summary of the Barometer’s key findings areas and to look at our ancestry. You can they came from. If you know of the events successes and challenges faced in their own can be found at www.practicalmoneyskills. know where they lived, but it doesn’t mean that were going on in that particular village countries, as well as presenting new research com/barometer. much until you get to go there and get the or particular small region of the world at that explores ways that financial knowledge William Walstad, an Economics profes- lay of the land. You’ll see mountains out the time, there is a good chance that you and behavior can be improved. sor at University of Nebraska-Lincoln, here, or rivers over there. We went to many can tie your ancestor to that and say, ‘It’s Janet Bodner, editor of Kiplinger’s Personal presented another interesting study which other places searching, and we ended up in possible that my ancestor was leaving that Finance, shared findings from the 2012 Global showed that people who scored poorly on the back hills of Tennessee. We would get section because a war had just broken out,’ Financial Barometer, a new study cosponsored a financial literacy test but were confident into town and the next morning everybody for example.” • by Kiplinger’s and Visa. Some global 25,500 in their money-management abilities exhib- participants were asked about their personal ited similar abilities to manage credit cards realignment from front page financial habits and opinions. Assessing that as did those with stronger test skills; while data, the Barometer ranked the financial literacy those who had high test scores but lacked prison. Over 500 crimes have been reclassified them the world but if they don’t want to take levels of people in 28 countries. Among the confidence displayed much more negative as “non-serious, non-violent and non-sexual” our offer, they will continue to commit crimes more interesting findings: credit behavior. Walstad said these findings and therefore would allow the State to house that affect all of us.” • Brazil topped the list as having the most suggest that building confidence has a strong the perpetrators of these crimes in county jails While managing the influx of PRCS financially literate people, followed by Mexico, role to play in financial education. instead of the state prison system. However, probationers in Los Angeles County won’t Australia, the U.S. and Canada. Bottom line: The panelists agreed that all of as Los Angeles County jails are also facing be a trivial task, Torrance Police and other • 68 percent of survey respondents had the countries represented share many of the overcrowding issues, many of these prisoners local law enforcement agencies are finding fewer than three months’ worth of emergency same challenges for boosting financial literacy are put into the Post Release Community Su- new ways to keep citizens safe. Torrance is reserves to fund basic needs during an unex- including gaining wide access for programs pervision (PRCS) program instead of serving in the process of adding at least two more pected financial event like job loss. to be tested, evaluating their results, and the their full sentence. Further complicating the officers to its force, specifically to help man- • 25 percent of high-income respondents had fact that each has very diverse populations matter is that many of the prisoners released age any increase in incidents resulting from less than three months of living expenses in with different needs at different periods in into the PRCS program have a high risk of AB 109. It is also working with the Los savings. In the U.S., for example, the average their lives. committing more crimes. Angeles County Probation Department to person had only 2.9 months of expenses saved. To watch a free webcast of the Summit, “The reality is the majority of the folks who help monitor released prisoners in the city. In • When asked at what age governments visit www.practicalmoneyskills.com. have been released, particularly the 9,200 that addition to these efforts, Lt. Martin Vukotic should require schools to teach financial Jason Alderman directs Visa’s financial edu- have been released under PRCS as I speak right outlined how the Torrance Police Department literacy, U.S. respondents ranked near the cation programs. To Follow Jason Alderman now, have been through this system before,” has been successful using anti-gang laws to bottom at 11.9 years. By comparison, more on Twitter: www.twitter.com/PracticalMoney. • said Neu. “They have had an opportunity to add some serious penalties to the sentences either accept or deny the best practices that of probationers that would otherwise face the County probation department has to offer. abbreviated jail terms. Even though Torrance Visit our website They have made the conscious decision to isn’t receiving any additional funding, the City for coupons & flyers at continue there criminal wrongdoing. That’s and its police force are taking steps to keep www.matteltoystore.com another gap that we’ve identified.” Torrance among the safest communities in who have been released as part of PRCS, are going to be monitoring these people on Family & Friends Daythe nation. “We, the local law enforcement,According to Neu, of the 9,200 prisoners about 3,000 of them have re-offended and the a local level,” said Neu. “We can’t just wash options for local police to handle re-offenders our hands of this and say we didn’t receive are extremely limited. Under AB 109, these any money to do this.” Be our guest offenders do not go to state prison. Instead Ultimately, Neu wants to let the community they either go to a county jail for up to 180 know that the Torrance Police Department is for a day of fun & savings! days, are “flash incarcerated” for up to 10 well aware of the challenges realignment is recidivism is a major concern. local law enforcement agencies and the City 30% FF Saturdayplacing before it and is already addressingany shortcomings. By working with other days or merely continue with probation under new conditions. Because of the lack of teeth, put this together, they built this on the as- maintaining records of gang affiliations that regular priced July 28thCouncil to add more officers to the street and“Unfortunately, when the State legislators sumption that they will adhere to the PRCS allow them to push for tougher sentences for items bilitation efforts with open arms,” said Neu. is prepared for realignment. “The sky is not 10am to 4pmcriminals caught in Torrance, the department- program and they would welcome the reha “And that’s not reality. I wish it was, but it’s falling,” said Neu. “The responsibility I have, not. The problem is recidivism. We can offer that all our officers have, is to fill the gap.” • SAVE 50% FF 65%Plus 3 FREE Gifts! one non-sale item One coupon per customer per day. Excludes Gold Label® Barbie® Collector dolls, Fisher-Price® Baby Gear, Smart Cycle®, Trikes, Ride-On Toys, Power Wheels®, licensed product & gift cards. Limited to one product per coupon. 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