Why Is It So Important For You Teach Your Kids About Money?

Despite the importance of finance, accounting, and consumer intelligence, these topics are typically neglected in high schools. Unfortunately, personal finance is often learned by trial and error. The problem with this method of learning is that it only takes one costly financial mishap to set you back for years. This is why I created a basic personal finance book for total beginners. With these concepts you can use the other books in the Smart Money series to further build your knowledge of personal finance topics.

In this society, some of the most important things in your life have to deal with money. In Chad Foster’s book, Financial Literacy for Teens, he taught his readers how to save, spend, invest and give away your money. Reading this book has taught me to start saving when I’m young, know the differences of what I need to buy rather than what I want, to make money while I sleep and giving away some of your money will not only help yourself, but help many others as well.

So often we hear about teaching the whole child. Today, more than ever, personal finance knowledge and awareness are a critical part of what it means to teach the whole child.

Scientists show that the United States is one of the richest countries and that our teens are overpowering their authority. By giving in to your children plan your child is suffering. The parents are teaching their kids to be lazy and that money will fall out of the sky for them. In this hardship there can be no money wasting when the balance of our economy is at hand.

This personal finance paper will concentrate on the insufficient amount of guidance that is available concerning student loans. The purpose of this paper is to illustrate how prospective and current college students are ill prepared in their education and understanding of student loans. Three major issues that will be outlined in this paper include the large majority of college students are no longer able to pay for college out of pocket due to the rising costs, the effect that national debt has on students degrees, and finally the lack of early financial education to make crucial decisions. Strategic recommendations these issues include for students to

First of all, when kids get money for good grades, they are unable to spend it effectively. A child are more likely to spend money on items such as games, candy or objects of their interest instead of items that could be more beneficial towards themselves. They don’t know how to handle responsibility and have not been taught how to utilize their money. “Economy does not lie in sparing money, but, in spending it wisely” (Huxley, 2014). Children don’t understand the value of money and how hard their parents work to receive enough to provide for them. With this hard earned money, their parents fill their necessities while the kids fulfill their desires. “A penny saved is a penny earned” (Franklin, 2014).

Money itself does not represent education, but the lack of money in the communities influences the few cultural and educational activities, this added to an incomplete or corrupted home creates a trigger.

Although the reliance on student loans continues to increase for college students across the nation, the vast majority of American teenagers are not required to attend and complete a Financial Literacy course before graduating high school. According to Jillian Berman, only five states scored an A on the 2015 Report Card on State Efforts to Improve Financial Literacy in High Schools, and those same five states are the only states in the country that require students to take a dedicated semester of personal finance courses before graduating (Marketwatch.com). There is an obvious problem with the state efforts to properly educate finances when 14 out of 50 states rank in at a failing grade. Money is an essential asset to life on Earth, and proper education on financial management is vital for the basic requirements to sustain life. Education on how to manage money in order to afford food, shelter, clothing should be the main priority of the Financial Literacy courses. More in-depth are topics

Today's kids have a problem called "instant gratification syndrome." The definition of this term is; I get everything I want and I want it now whether you can afford it or not. I'm sure this sounds familiar to you. By teaching your kids about money through basic learning skills your child may avoid the type of economy facing adults today.

How to properly manage money is something that should be taught to young people because it is a very important asset in everyday life. “Total consumer debt in the United States stands at nearly $2.6 trillion dollars. That works out to be nearly $8,500 in debt for every man” (Anderson). Many times teenagers are known for “throwing away” their money by spending it on unnecessary things. This is something that could easily be avoided if students were taught the proper techniques on saving and spending money. There are many different skills that students could learn if personal finance was taught in the school system. Managing money is one of those very important skills and would help to lessen the number of young people spending irresponsibly instead of

Also, money teaches kids how to spend their money correctly, for example say if the child has 4 dollars from his allowance and buys a big bag of chips now all his money is gone from buying junk food and the kid has to wait a whole nother week to get more money but now he knows not to spend money on things that he doesn’t need.

In the first large-scale international study of 15-year-old students’ financial literacy skills the U.S. ranked 12th out of the 18 participating countries

Developmental issues are not solely based on the amount of money a family acquires, but money causes the overall lack of resources that are why these children to struggle with their educations.

Money is a precious thing and it can become challenging to not spend it immediately after getting it. It is crucial that this does not happen. There is no denying that money is an important part of society. The world revolves around money and without it, one? would not be able to function. In everyday life the average household will spend one hundred and sixty dollars daily. It is safe to say that money is an resource used daily. It is a tool that can be used to connect with other people or buy anything a person could want or need. Yet it is easy to spend money without realizing how much is really being spent. With only a few simple tips it will become much easier to save money instead of spending it on frivolous things. One’s hard-earned dollar should be saved, and simple tips such as using cash instead of cards, saving small change and only purchasing what one really needs are a few of many ways of doing this. The power of money can easily be abused and it is very important to make sure that a person is well informed on ways to save and spend money wisely.

As money seems to be the central mean in the positive and the negative aspects of life, it is no doubt that money can be a barrier in becoming the person one sets out to be. This lecture presented to the class will begin talking about the unexpected expenses that life has to offer, before moving on to the basic necessities that each and every human being need to survive. The lecture will than go on to talking about individuals who struggle financially throughout life who than begin to realize it is time to start making arrangements for retirement, when the body cannot meet the demands of work no longer. After addressing these three main financial mishaps. The lecture will than go on to talk about what happen when money begins to become