Does anybody besides me remember having personal finance as a required course back in high school? It seems like money management is one of the courses that’s been cut from just about every single public high school’s curriculum. The big irony here is a personal finance course has some of the most needed skills that we need once we actually get out there in the world.
The Wisdom Journal Blog has an article entitled “10 Critical Money Management Skills Your Children Need You To Teach Them”.
The article covers
- Balancing a checkbook
- Budgeting money
- Establishing credit
- How to pay for college
- Identifying wants vs. needs
- Dealing with debt
- Paying taxes
- Saving and investing for the future
- Understanding the total cost of ownership
- Choosing a thrifty lifestyle
To be honest, if you can teach your kids #5 above you’re doing well.
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