There was a time when expressions like “A penny saved is a penny earned” actually meant something. You remember this poem, don’t you?
Use it up,
Wear it out,
Make it do,
Or do without.
What ever happened to financial responsibility and resourcefulness? They have apparently been usurped by the need for instant gratification and keeping up with the Joneses, the Browns, the Smiths, and who knows who else!
In America, the average college student enters “the real world” with over $20,000 of student loans. The average American household carries over $15,000 in credit card debt, plus a mortgage, medical bills, the aforementioned student loans, and car payments.
Where is the “simple” in being buried under mountains of debt by the time you hit 30? There is none!
It’s time to focus on the basics, one of which is teaching our children (and ourselves in most cases) how to handle money responsibly.
Today I am writing over at Purposeful Homemaking where I offer seven strategies for raising financially responsible children who agree with Thomas Jefferson’s sentiment, “Never spend your money before you have earned it.” Go check it out and raise your kiddos right! Someday they’ll thank you.
Click here to read 7 Tips for Teaching Kids to Handle Money Responsibly over at Purposeful Homemaking.