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Teaching kids about money
My parents didn't do a great job at demonstrating good financial habits for me, and as a result, I've been thinking about how I'd like to teach my kids to be more fiscally responsible. I ran across a great post today over at Get Rich Slowly with some good tips and links to helpful articles about allowances, teaching kids about the value of hard work, and more. I don't have kids yet, so I don't have a lot of commentary here, except to say that it's definitely the job of parents to teach their kids about this. The schools sure aren't going to do it, and judging by the pile of debt that the average American has, people don't usually fall into a pattern of good financial habits on their own.
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I would completely agree with you on this one. My parents always taught me that paying off your debt if very important. I think it is sad how much debt this country is in, and people don't even care, it's all about spending more and more. I'm trying to figure out how to pay for grad school on my own. Kudos to you kiddo, and good luck with teaching your future kids, you'll do great.
The borrower is slave to the lender. I've watched a lot of people prove this to be true with their entire lives, and I'm going to do my best to make sure it doesn't happen to my kids. And there's no lesson as effective as setting a good example :-)
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