| Youngsters learn early the cliche' "money makes | | | | is simply "There isn't enough to spare" -- new |
| the world go round" and yet have very little | | | | jeans, sneakers or those unexpected events just |
| sense when it comes to earning and exercising | | | | have to wait. It is unfortunate for young people |
| responsible stewardship over their monetary | | | | not to have the proper training they need in the |
| resources. This is primarily rooted in the fact that | | | | area of money management. There are four |
| parents fail miserably when it comes to teaching | | | | lessons I believe every parent ought to teach |
| children the difference between a debit and credit. | | | | their children about money whether during plentiful |
| Most parents I know simply choose to avoid the | | | | times or scarce: |
| money discussion altogether mainly because they | | | | |
| have little understanding themselves in the area of | | | | 1. Practice saving at least 10% from their |
| money management. Parents are merely | | | | allowance, birthday or gift money |
| youngsters in adult bodies who had not been | | | | 2. Use their 10% to buy wholesale and go into |
| properly taught how to effectively use money as | | | | business selling drinks or chips to friends |
| a tool. | | | | 3. Buy those jeans and sneakers only when they |
| During times when money is plentiful parents | | | | go on sale or with discount coupons |
| typically dole it out unmindful of the unspoken | | | | 4. Organize their friends and teach them how to |
| lessons being conveyed. However, it's especially | | | | use these money management lessons |
| when economics are leaner that bank balances | | | | The main benefit youngsters will get from |
| are scrutinized more closely and parents | | | | following this list of lessons on money is a better |
| remember they still have the word "No" in their | | | | appreciation for the value of money as a tool and |
| vocabulary. | | | | resource useful to get what they want no matter |
| This is when the lessons of money management | | | | what's going on in the economy. |
| are generally taught or discussed. The lesson here | | | | |