As parents and adults, we're responsible for preparing children for becoming adults themselves one day. We teach them how to talk, how to walk, how to read, how to complete chores, how to play sports and other games, but how many of us take the time to teach them how to handle money? Why aren't financial lessons a necessary part of our agendas in raising and cultivating responsible children into mature, wise adults?
Since we're talking about budgeting this week and preparing ourselves for the upcoming year, why don't we take a few minutes today to share financial principles and concepts with the leaders of tomorrow? Does your daughter know the difference between income and expenses? Does your nephew understand how to prepare a budget? What do your children know about credit and debt, savings and investments? What about your teenagers? What do they understand about banking or compound interest?
It has taken many of us years to understand financial concepts and consequences that our children need to know today. Therefore, I'm asking that we take some time today to give them the advantage of learning how money works now so they be better equipped to manage it as adults.
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