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Why do kids need to know about money anyway?
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Money is, like, basic stuff that can rule your life if you let it.
Jump $tart did a survey that found that most high school seniors didn't know the first thing about personal finance. And, worse, they said they learned everything they know (or don'tknow) from their parents. Whoa!
Take a look at your parents. How are they handling money issues? Are they in pretty good shape or do they fight about the bills every month?
What do you want your life to be like?
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Money is really pretty simple.
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There is one really simple rule about money: spend less than you earn (or have). And 2 little rules to go with it: save at least 10% of your money, and give 10% of your money away to charity.
If you will do those 3 things, the odds are that you will never have big money problems. But how come, if it is that simple, that so many people do have big money problems? Good question. The answer is that most people don't know those 3 rules, or if they know them, they refuse to follow them. Some of the fault is in plastic.
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In the olden days -- really olden, like 1950-- the plastic known as major credit cards (Visa, MC, AMEX) did not exist. It may be hard to believe, but that is totally true.
It was a very different world. You had to have cash to buy the stuff you wanted. Except for cars and houses, if you didn't have the cash, you couldn't get the stuff - period. Some stores would let you put goods "on layaway" which meant that they would hold the merchandise and you would come in every week and give them a little more money toward it. When it was all paid for, you could take it home. Can you even imagine it?
More later...
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TIP! Start talking about money. Ask questions about what you need to know. Learn how to manage your money now.
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What's up with your money? Email me with your questions or concerns.
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