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Did you know that many people retire broke? It’s true. After a lifetime of hard work and having earned literally hundreds of thousands of dollars, they end up with nothing. So where did all their hard-earned cash go? The answer is,Jordan Shoes 2011, it passed right through their fingers. While schools are great at teaching algebra, calculus, and geometry… how many of us learned about the basics of personal finance and creating financial security for ourselves? The truth is, the earlier you learn to handle money,Fake Jordans, the more likely you are to manage it properly and live a prosperous life. So why not provide a little home schooling for your family and teach them the basics? Here are 7 important lessons to instill in your kids about money: 1. Save something of what you earn Acquiring the savings habit is one of the smartest things you can ever do. If you’re reading this now as a middle-aged parent, imagine how much you’d have in the bank today if you’d saved 10% of everything you’d ever earned. (It’s almost scary to think about,Air Jordan 13, isn’t it?) Teach your kids to save a little of everything they earn. 2. Don’t borrow what you can’t pay back Debt is one of the greatest social diseases of our time. The price to pay for the “have now, pay later” philosophy is that you certainly will pay later. Debt imprisons you in a job you don’t like, creates stress and anxiety in your life, and erodes your wealth creation program. You will never become rich while you’re in debt. Period. Teach your kids the value of delayed gratification. “If in doubt, go without”. 3. To give is to get Managing money doesn’t mean hoarding it and locking it away in its own purpose-built high security jail. It simply means being careful, spending wisely, and acquiring a regular savings habit. Teach your kids that donating money to worthwhile causes is a noble thing to do, and that the money returns to you in more ways than you can imagine. 4. Money isn’t evil “Money is the root of all evil” and “filthy lucre” are phrases you’ll hear banded around. Ignore them. Money actually brings enormous good into the world. For example: Creating wealth helps create jobs for others Investing in business helps to bring solutions into people’s lives by way of innovative products and services Acquiring a great fortune allows you to donate more money to charity ript type="text/javascript" src="/i/scripts/button.js"> |
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