A lot of the financial woes of today are from the mismanagement of money.
I don't recall money management being taught in school (other than making change=math lesson). It certainly isn't being taught now.
Would You Send Kids to Money Camp?
Quote:
...And in an economic meltdown caused in part by people who have frittered away their money buying on credit and not reading the bottom line, its clear our kids could use some good lessons in financial literacy....
...the use of debit and credit cards by high school kids is climbing, but as many as eighty-seven percent of teen users have no idea what they’d be required to pay if their card was lost or stolen, and less than half are aware they should and check their credit report annually. Some schools require financial training for kids, but more are pushing so hard to keep up with No Child Left Untested that there is no room for these basic life skills.
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Sounds like a good idea to send your kids to money camp.
Maybe there won't be a recession as the next generation gets older? Or at least they won't be hurt as badly by circumstances beyond their control.