Posted on Sep 5, 2016
Sex ed is required. Why isn't financial education?
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What about the parents, though? Parents shouldn't teach their kids about savings ?
Sex ed is required. Why isn't financial education?
Posted from cnn.com
Money
Finance
Banking
Investment Banking
Financial Services
Posted >1 y ago
Responses: 8
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I teach my kid about savings, taxes, checking accounts, loans and a lot of other financial stuff. And I'll be teaching her the sex education because I'm a nurse and I'd rather she learnt it from me. And she's 10. She has a bank account now and keeps track of her own savings. She learns when she uses me as a lender rather than saving for what she wants she has to pay back with interest.. It's better to learn early not to get loans unless truly needed.
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SGT (Join to see)
Out-freaking-standing. Seriously, you're setting your kid up for success. You only have her for ~18 years before she leaves home. That should be plenty time to teach such things, I think.
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PO2 Kristy Williams
I'm terrified. To be honest. I always think I gotta get her to 18 alive, undamaged, and not pregnant. Then she's on her own but that's not true. Hopefully she'll know she can always come to me for advice.
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SGT (Join to see)
True. I get so many weird looks when I tell someone they don't need a credit card to build credit.
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Maj Marty Hogan
SGT (Join to see) - my favorite is carrying a 30 year note because they told you that you could afford it. Second is how much money you will make with a house deduction. When you explain you could use less debt and the many saved to invest...but the realtor told me... no sense arguing. Debt moves mountains for those who are the benefactor. It crushes those who have it to get out from under it.
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SGT (Join to see)
Maj Marty Hogan - I've had few discussions regarding mortgages, but I've read enough (many here) to know the VA home loan and other realtors have some muddy plans and policies.
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I agree 100%. Kids today have no clue how money works. I work in the banking industry and I am shocked at how people overdraw their account at Starbucks. They don't care that the cup of coffee just costs them $40.00!
Young adults have no clue on how to plan or set a budget. They want to buy a house and then cry because they don't have the savings needed for closing. They have no concept of nothing is free in this world.
Young adults have no clue on how to plan or set a budget. They want to buy a house and then cry because they don't have the savings needed for closing. They have no concept of nothing is free in this world.
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SGT (Join to see)
I'm still learning the house and mortgage thing. My landlord told me that opening a checking/savings account doesn't affect your credit score. I decided to err on the side of caution due to ignorance, though. Your thoughts ?
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