I was watching CNN recently and one of the topics for discussion was related to how an elementary school in Chicago, Ariel Elementary Community Academy, has integrated money management for kids into their curriculum. The moment I heard about this, I was immediately captivated. I have been meaning to write about this topic for quite some time now, but just never got around to it. So, thanks to CNN, I have become re-inspired.
Ever since I read the book, Rich Dad, Poor Dad, I have always felt that we don’t do enough to teach kids about money. There are so many adults who could have benefited from this type of education, if only they were introduced to it at an early age. I must admit, not even I was taught anything about managing money as a child. When I got a hold of money, I would immediately spend it on candy and toys. I think back and wonder what I could do with the money I squandered. Think for a minute about how much you could have now, if you just saved 10% of all the money ever given to you.
Well, no reason to dwell on the past any longer! The best we can do is to make sure the children we influence learn from our mistakes. In the coming weeks, I will have a series of articles on how we can teach kids about money management.
How many of you out there wished you were better educated on money management at an early age?