- May 4, 2008 at 2:18 pm #257554
I think a lot of the training has to come from parents, for this reason. The way a kid will really learn is by having real money and making real decisions with it. Schools are not going to give our kids real money.
I have one bio son at home and four stepkids. My bio son was raised with me training him about money. We worked up a part-time job / business together, learned to figure out the profits and expenses, how to split them – I required that he save 10%, invest 10%, and tithe 10%. He has a stock market account (Sharebuilder has a great program that does not need hundreds of dollars to start), he has an online Orange Savings account. He is now 14 and is money-savvy. He still makes dumb mistakes, like wanting to buy a laptop on credit. But for the most part, he is smart about saving.
The other four kids, who have been “told” what to do with money, but who have not had real money in their lives so much, they get money and blow it in the first five minutes. They don't have a clue….
Working on them, tho…
On Sun, May 4, 2008 at 7:18 AM, shawnonline <email@example.com> wrote:
I was thinking about something that may be helpful to our children's future. I wonder why personal finance and budgetingisn't taught in high school. This would be of great benefit to them and all americans over the long term.
I remember I took an engineering economics class in college. I learned more about savings in that class than anything and it was very veryeye opening to me. I didn't become an engineer (I am a computer programmer), but this was so useful to me.
I think this would help our kids overthe long term. It seems to me that I have learned the most about saving and budgeting from my Grandma's generation (I'm 33 and she is 86). Also my mother teaching me how to balance a checkbook when I was a teen was great. I didn't learn much about saving from my parents since they still struggle with it, but have strong tendency to save.
I think our children in general right now are only learning from my generation of getting everything they want and how to pile up debt. Most teenagers have cell phones and spend all of their money from their part time jobs. In high school I saved up $3000 for college myself and that was from only working summers and a paper routeuntil I was 18.
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