It is so easy to get caught up in the media trap of having everything now -spending, spending, spending, blowing the paypacket and not knowing what it all has been spent on. With credit cards then becoming a necessity and large phone bills if not on a prepaid plan - things can quite quickly get out of control. The cycle then starts of always trying to pay the minimum off and falling more and more behind accruing interest charges etc on top of everything else.
To know where your money is going and what your money is doing should be one of the fundamentals taught at school but alas it is not. It should be ingrained in us to put some money away first, then put money aside for expenses - such as rent, phone, car or travel expenses and only spend what's left or work out what can be spent without geting into financial trouble - "blowing the budget".
More focus should also be on their dreams, desires and goals and to concentrate on how they can be achieved - the outcome or solutions in a step by step formula instead of just the academic side of things like Maths and English.
We concentrate so hard on getting good grades, we study harder to get a good job, to one day get a nice house and the other material things we think we want or need. We end up being financially broke or in debt, "in the rat race" constantly struggling to just get by and making ends meet, regardless of the amount of income we may receive.
When extra money does comes our way it is so easily spent that the wonderful feeling of having money does not last for long. Instead the feeling of dread soon replaces it, especially when another bill or expense suddenly comes along and there is no money left.
In both "Rich Dad, Poor Dad" by Robert Kyosaki and "What I Wish I Learnt at School but Never Did" by Jamie McIntyre the emphasis was more on becoming financially smart/independent instead of just academically smart/independent. All of us, not just teenagers would be much better off and the world would be a nicer place to live in as there wouldn't be as much competition to keep up with each other and take from others. People would be more happy as they would be in control of their finances and not continually stressed financially. There would be less feelings of jealousy and greed because everyone would know there was plenty for everyone.
Our major systems - government, banks and schools need to be encouraging and implementing these strategies instead of continually keeping everyone in the dark.
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