Practical Frugality

Do you realize what your biggest investment is?

My first full time job, during college, was working for a financial institution. You cannot fathom the number of people working and living around us who simply don’t understand the very basics of handling money. At the time, I was an education major, and I spent time going into schools as part of a program to help teach kids some basic skills. It’s something that is a life skill, and should honestly be incorporated into curriculum, at all levels, so that kids understand how to manage their finances from very early on. There are kids left to fend for themselves as teenagers, and how can they be expected to survive, much less succeed, without these skills.

I personally know of more than a handful of people who are planning to have their child move out upon graduation, or age 18, for a variety of reasons. Once a situation has reached this point, it’s too late to try to teach these things. Kids don’t understand just how much things COST out in the real world. I was watching a reality show on TV about teen parenting, and saw a perfect example of this. This troubled girl, whose mother raises the child, was a month behind on rent, no utilities paid, and overdrawn by almost $700. It’s time for a financial intervention. Kids need to grow up understanding that everything we own comes at a cost, and is something that we have to work hard for. Teaching them the skills to save, pay on time, not overextend, and to plan ahead for large expenses will help them establish a solid financial foundation, and that investment is….PRICELESS!

I have an article below, and info-graphic, with some useful information, courtesy of My Job Chart. I encourage you to focus on the key points, so you can start having these open discussions with your children now. If you are struggling, start today learning financial responsibility, message me, I can send you some additional links. When we invest our time in our kids, teaching them financial responsibility, we will all live in a more secure financial world. My Job Chart offers a website and mobile app to help you teach and motivate your kids when learning to save, share, and spend.

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Tags: My Job Chart