Teaching kids about money is never just about money.
Interpretation
Teaching children about money involves more than just financial concepts; it encompasses life skills and values.
This quote emphasizes that financial education for children transcends mere numerical knowledge. It includes teaching values like responsibility, work ethic, and the consequences of spending, which shape their future decisions and attitudes towards money.
In practice
During a financial literacy workshop, I quoted Dave Ramsey to emphasize the importance of instilling good money habits in children.
Debt is so ingrained into our culture that most Americans can't even envision a car without a payment ... a house without a mortgage ... a student without a loan ... and credit without a card. We've been sold debt with such repetition and with such fervor that most folks can't conceive of what it would be like to have NO payments.
The thing I have discovered about working with personal finance is that the good news is that it is not rocket science. Personal finance is about 80 percent behavior. It is only about 20 percent head knowledge.
Debt collectors like to play on your emotions because they think you'll give in and do something you can't really afford to do. Most of them don't care about you or your situation as long as they get some money.
Hitting bottom and hitting it hard was the worst thing that ever happened to me and the best thing that ever happened to me.
Your priorities, passions, goals, and fears are shown clearly in the flow of your money.
You have to teach children about money intentionally - create teachable moments.
Examinations, sir, are pure humbug from beginning to end. If a man is a gentleman, he knows quite enough, and if he is not a gentleman, whatever he knows is bad for him.
The quality of our reading is not only an index of the quality of our thought; it is our best-known route to developing whole new pathways in the cerebral evolution of our species.
I routinely interview college students, mostly from top schools, and I notice that their brains are like old maps, with lots of blank spaces for the uncharted terrain. It's not that they lack for motivation or IQ. It's that they can't connect the dots when they don't know where the dots are in the first place.
It is by teaching that we teach ourselves, by relating that we observe, by affirming that we examine, by showing that we look, by writing that we think, by pumping that we draw water into the well.
In the United States we have concentrated tremendous sums of money on the educational plant, seemingly with the idea that the right number of buildings will turn out the right number of graduates. Yet the teachers who actually instruct the future citizens of our country are more often than not miserably paid. If in the future we find ourselves with a lot of fourth-rate citizens, we have only ourselves to blame.
I sat down in 1989 and I made up my mind at that point that I was going to spend the rest of my life assisting women and youth to gain social and political empowerment through business and education. I convinced myself economic empowerment of women was going to be key, especially in a country like this where most women didn't go to school.
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