Kids making Money....can they handle it? ABSOLUTELY!

Recently our deck, which we built three years ago, got another resident.  Another family of robins.  Every year we have had a family come and build somewhere in the beams.  Always somewhere new, but up in a safe place to nest and wait.  The first year, they built under the deck, on our lower beam, and it was amazing to peer through the cracks, down at the little blue eggs.

When the eggs hatched we were able to watch the new birds be fed and cared for by the parents.  So amazing how nature works.  The the birds are born, looked after for a few weeks, and in no time they are flying out on their own. 

Humans on the other hand have their young home for years, feeding, clothing, schooling and instilling their family values.  Birds accelerate the process. 

Interestingly though, humans think we spend all the time teaching our kids about life, but really how many of you were taught how to budget or save...or for that matter, apply for and manage credit?

I remember my financial schooling (thanks for trying Dad).  It was more than most of my friends had.  It consisted of a stern "pay your bills every month" and "here is a book I want you to read".  The book was the Wealthy Barber and at 18 years old, I got to about chapter 3 and never picked it up again.  Too bad I didn't "get it" sooner, however, there is a Wealthy Barber Returns book coming out in the fall of 2011 and I may just go out and buy it.

I think that financial education needs to begin way sooner than when you finish high school.   Kids should really be shown how to save and manage their money with an allowance early on.  This can be done in a fun way with board games, or if you have a kid like mine...online web games too!

These games tackle subjects such as "making money work for you" and other topics money related.  Rich Kid, Smart Kid is a game developed for kids by Robert Kiyosaki, the creator of the "Rich Dad, Poor Dad" company, and it is marketed at kids 6 and up!  Really it is NEVER too early (or for that matter, too late) to learn to be financially savvy.

I have to admit, my two kids are not as up on finances as I would hope (my son thinks his bank ATM card has an unlimited balance... HE WISHES), and I am now just starting to instil being financially responsible.  This is my goal for the summer...kids + chores = making their own spending $$ (more specifically, learning how to spend it).   

I think that if we all were to educate our kids early on with proper financial advice, we would not see half of the bankruptcy's and other $$ nightmares that we see in young adults.  Fiscal responsibility should start at home, just like good manners.

So, out to the deck to enjoy the evening or as they say "I have gone to the birds..."

Liz