| I feel it is very important to teach children about | | | | things they want instead of saving until they can afford |
| financial matters. One reason that parents do not | | | | them. Previous generations started with small houses |
| teach their children about money, is because they are | | | | and cars and worked and saved and gradually |
| not sure they know how to handle money either. It is | | | | improved their way of life. Many people today, start |
| one of the things that is not always taught in school. | | | | first jobs and expect to have a big house and |
| We earn degrees in order to earn a living but are not | | | | expensive cars right away. They figure if you can |
| always taught how to handle the money we earn. | | | | afford payments you can afford it. But that isn't |
| It is important to start teaching children about money | | | | always the case. And living that way, you have no |
| when they are young. You can use the world as your | | | | money for savings. It is important also to have an |
| financial classroom. Real life triggers lessons you want | | | | Emergency fund. Especially in today's economy with |
| to teach your child, and since you are probably handling | | | | the way the job market is. People get into trouble |
| money regularly in front of your child, stop and take | | | | when they get used to living paycheck to paycheck |
| two minutes to explain what you are doing. | | | | on two incomes and then if one (or both) of them lose |
| In the book "Money Doesn't Grow on Trees" by Neale | | | | their jobs then they will be in trouble. |
| S. Godfrey there is a story about a father and his son. | | | | Another source for information on teaching children |
| He had taken his children on a trip across the country | | | | about finances is Dave Ramsey has books directed to |
| to see their grandparents. Everytime they stopped to | | | | kids and a Financial Peace Jr. kit with a book about |
| eat, one of the sons was always straggling behind. | | | | saving your money and charts and envelopes to |
| Finally, when they were almost home, the father asked | | | | manage their money. One of his principles is to Save, |
| him why he always late. He said he was picking up the | | | | Give and Spend. His program has envelopes labeled |
| money his dad kept forgetting on the tables. The | | | | Save, Give and Spend. |
| father realized to his son his leaving money on the | | | | In the book "Money Doesn't Grow on Trees" some of |
| table looked like he had forgotten his money. | | | | the chapters cover How to teach your children the |
| Another big issue, is teaching the difference between | | | | basics of money management, When to start your |
| wants and needs. I know when you are a child it is | | | | child on an allowance, How to use the World as your |
| hard to know the difference, but if we don't teach | | | | Financial Classroom. It also has games for different |
| them when they are younger, it is harder when they | | | | age groups on teaching children about money. |
| are older. That is part of the problem how people | | | | In closing, I feel the most important issues are to teach |
| spend money now. They grow up not knowing the | | | | children to pay themselves first and save some of |
| difference between real wants and needs. Then get | | | | what they earn, difference between wants and needs |
| into trouble with debt because they feel like they | | | | and the power of compound interest. |
| deserve anything they want. | | | | It's not How much you earn that matters, its how much |
| Many people put their financial lives into jeopardy | | | | you Spend!! |
| because they want the instant gratification of buying | | | | |