Teach your children how to handle money
Well, every day our children and youth are bombarded with a million different images and voices, everything ads from billboards to internet telling them who they are and influencing them to measure their worth by what they have. The peer pressure and the pressure to be accepted drives them, and perhaps even their parents, to throw money away on things that don’t matter, all in an attempt to be somebody. The result? We are raising a generation that spends money they don’t have to buy things they don’t need to impress people they don’t even like!
Over 80% of undergraduates in America have at least one credit card and nearly 50% of college graduates carry 4 or more credit cards. According to the Department of Education, the average balance carried by these students is more than $3,000!
These statistics show that many children aren’t being taught how to handle money. Many young adults do not know how to read a bank statement nor balance the check book, but they have a checking account or own several credit cards. That’s why we see more young people are making mistakes with many zeros at the end of them. These mistakes often take years to overcome. Teach your children how to handle money while they are young, and they won’t make mistakes later on in life.
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