Why Families Should Talk About Money as Financial Education for All

We are in agreement 100%. TSchools teach us how to make money, how to get into debt, but nothing about saving or investing. How many people still think a mutual fund is not invested in stocks? Sometimes I think our system intentionally set it up this way so we would be dependent on the financial Guru’s. Some people will wake up and learn about investments, but human nature dictates that most will revert to old habits and continue to pay advisers for poor performance.

Regards
.-= Ric´s last blog ..Starting An Internet Business With No Money =-.

Hi Mikael,

This is an interesting topic!
Personally, I studied 12 years at school and 4 years at university. In 16 years nobody teached me the culture money. The only thing I was always told by the grown ups and by my parents was: You have to work hard to earn money! In fact I agree with this statement. But this statement has two aspects:

1. You work hard and make little money.

2. You work hard and make a lot of money.

So everybody in my country was working hard to make little money, and this is because they didn’t have money education.

I live in Moldova. My country was a part of Former Soviet Union.

Thanks,
Ion

Mikael,

Moldova is a small country of about 4 million people which is situated between Romania and Ukrain.
Well I wasn’t taught communism, but our parents have learned communism.

My question is: How do you find the money education should be? I know you did MLM and you might still be doing. I know MLM is providing very good money education.

I think kids in rich families do have money education, and in poor families are not.

I have read Rich Dad, Poor Dad – by Robert Kiyosaki twice. I also did one year of MLM. This was a kind of good experience for me.
I will try to find the second book.

You are right Mikael. Capitalism and Communism are so different and money and entrepreneurship where things only very few people knew about.

Things changed! And you see that Roberts Kiyosaki’s book is not new for me:) Nowadays we also have seminars and books. I also attended some seminars as I also want to learn the way you said. People just have to have the interest to it.

Personally me, I don’t think Communism has a big affect on my education. I don’t want to say communism taught people bad due to respect to people who had lived it.

In my family money was a dirty word and was never spoken about. To this day (in my 30′s) I have NO idea what my father earns, not even a ballpark. He never earned massive amounts of money but never spoke about it. In fact, he never spoke about working hard for money at all – I just saw him come home from work tired and assumed that that’s what on had to do.

My mother on the other hand has always been the “right then, what can we do to make money” person and she always looked my father and myself for the action. She was the ‘ideas’ person.

Recently becoming a father has made this more interesting. Do I discuss money with my son??

Mikael

You are absolutely right. There needs to be better education about managing finances and making money in family.

I am originally from India. I have been in USA for last 13 years but one thing I have noticed change back in India is that in colleges and offices young people (fresh graduates or still learning) are give a virtual money to manage.

They can invest this virtual money and build a portfolio to manage it. Then in the end there are some prizes.

So they make it a nice competition and at the same time educate the young crowd who can make a lot of difference tomorrow.
.-= Ravi@How to make quick money´s last blog ..Why Yahoo Answers Failed? =-.