Clueless?
This morning on the radio I heard someone talking about the fifteen lessons to teach your childern about money. The premise was that at no point during the American education process is there any discussion of personal finance, bank reconciliation, gross pay v. net pay, taxes, investments or anything like that. A survey was quoted that said seventy five percent of current high school seniors thought their best long term investment came in a standard checking account.
How will these young adults survive in a world with credit cards, ATMs, instant online transactions and no idea of how to handle money?
I would bet most of these kids end up living at home well into their thirties, probably with spouses and children included. They will have no retirement savings, no educational savings and not even their own home. They don’t know how to earn money. They don’t know how to purchase wisely. They only know how to ask for more from Mom & Dad and those of us who actually work.
What type of childern will these people raise?
Allen R. Noll, CPA, President