Rock band pushes importance of saving money

    Rock music and saving money are two themes most people wouldn’t link together.
    But the Gooding band, which performed at Chase County Schools (CCS) Monday, makes a point of combining their music with a strong message to young people that saving is important.
    After the band performed five songs, front man/namesake Gooding said the goal of their nationwide tour is not only to play their music but to encourage the teaching of financial literacy in all schools.
    Currently, just 16% of high schools in the U.S. teach financial literacy classes, he said.
    Chase County Schools is one of those that does. Sandy O’Neil, who coordinated Monday’s program, teaches a personal finance class in the high school, which is a graduation requirement of all students.
    “All I thought was important when I was young was my music,” Gooding said.
    But even a rock band is a small business, he added, and needs to be smart in how it spends money.
    “Love doesn’t pay the bills,” he said.
    He asked students if someday they’d like to own a house and get married. Hands shot up among the grade 7-12 students attending.
    Unfortunately, he pointed out that 76% of people live “paycheck to paycheck” and 75% of divorces are due to financial problems.
    Gooding contends the lack of knowledge about money “is hurting our communities.”
    Starting to save early, even if it’s only a few dollars a week, will pay off in the future, he said.
    “No matter where you start from, you have the biggest asset if you save a little. You have time for your money to grow,” he told the young audience.
    A graph Gooding put up on a video screen indicated that if a person starts saving even $50 a week at age 18 and continues that, it will result in more than $678,000 in IRA savings at retirement age.
    He encouraged the students not to get caught up in “stuff” that many think will make them happy.
    According to his figures, 78% of retired NFL players and 60% of retired NBA players “are now broke.”
    He said the “safest” way to save, according to financial advisors, is an IRA (individual retirement account).
    Monday’s performance by the Gooding band was sponsored by Pinnacle Bank and the CCS Education Foundation, with support from the Nebraska Council on Economic Education.
    Students from Wauneta-Palisade Schools also attended Monday’s concert/program.