I just wanted to comment that many adults don’t have the money management skills and kowledge to even begin to teach their kids in the first place. I come from a family that was “just getting by” and even had to go to our Church for financial assistance at times. I definitely didn’t learn anything about money management from them. I just heard “get a good education and then you will get a great job that pays well and you won’t have to live like me.” That doesn’t really cut it…..

If children aren’t learning money skills in the home or at school—it’s a good indicator that many adults don’t have the understanding to teach them. While it’s good to teach our children, we must also make sure that adults have the same education.

I am currently reading The Richest Man in Babylon. I love it! I am also reading Rich Dad Poor Dad. These books have changed my perspective. I am no longer a “victim” to my circumstances I understand that I have the power to change them and to achieve financial freedom. I really do belive that this is possible. Before I could actually believe this, I had to do a mind make-over and realize by educating myself and putting that education in practice, I can control my financial destiny to a greater degree than I thought possible.

Now that I have that desire and belief that I can do it I am just beginning my journey to gain financial education. That gets me a little discouraged to think that I am 25 and just now “getting it” but then I step back and look at my father who is 57 and still doesn’t “get it”.

Any suggestions on helping me begin my financial education journey?

For many preteens and teens today, although bright, educated and smart, they fail when it comes to basic, simple money management skills. 4 out of 5 teenagers can not tell you what goes on inside a bank. And 73% didn’t know that a stock would yield more over time than a savings account, according to Jump $tart. Why? Because finance and money management are not being taught in schools or is just now starting to be taught in certain areas of the country in high schools. Plus, high schools are experiencing the largest dropout rate in their history—1 dropout every 7 seconds or 1 million drop outs in 2005. Plus, a minimum wage increase has just been turned down and wage stagnation is at its worst in 30 years.

If you don’t take the time to teach your children the principles of money NO ONE ELSE WILL! MoneyMoney101 for preteens and teens is coming! Stay tuned.