One of the practical realities of life is empowering children in financial matters. When I am referring to financial matters, I am referring to some basic things like going over the reason for bank accounts, talking to children about budgets, allowing them to understand money by letting them shop with you and explaining to them how you get paid. There are more examples I talk about in my credit repair program, My Credit is Bad! I Want to Fix it Now! (Revolutionary Credit Repair).
Let m give you an example. From the time I was eight years old to about thirteen, every two weeks on Friday, I would go grocery shopping with my father. Just like any other child, I didn’t like doing this. I showed my disapproval by not talking to my father for a day. I came to my senses and avoided a beatdown. After a couple times of shopping, I started to realize that my father was trying to teach me some basic financial planning techniques.
Although there are exceptions to the rule, in most schools there are no basic financial literacy classes being taught. Because we have become a society in which we are trying to keep up with the Joneses’, we have become overcome with making money to buy things. Sometimes our children learn good financial habits by the examples we show them. Unfortunately, too many times they are left out in the cold to fend for themselves. If you want to know some of the basics of financial literacy you can go over with your children, click on the products tab and get started today.