Financial Education: Worth more than college

One thing we don't teach our children nearly well enough is how to manage their money. The sooner we learn how to make, save, and invest our money so that it will make more money, the better off we'll be.

Financial Education should start at home. There are now thousands of resources available on the web (see links below) to help us educate ourselves about the world of money.

First things first. The most important thing to understand about accumulating wealth is that you bring in more than you put out. You must live within and even below your means. This isn't an easy thing to do, however, studies have shown that the wealthiest Americans have a habit of saving at least 10% of their income. That means before they pay their bills, get their groceries, and go to the movies, they are socking 10% of their paycheck into some bank somewhere and that money is making money for them.

LINKS

MyMoney.gov is the U.S. government's website dedicated to teaching all Americans the basics about financial education. Whether you are planning to buy a home, balancing your checkbook, or investing in your 401k, the resources on MyMoney.gov can help you do it better. Throughout the site, you will find important information from 20 federal agencies government wide.

MoneyCamp Money Camp for Grownups is the adult version of our popular kid's financial education camp. In Money Camps for Grownups, you begin by exploring your thoughts, beliefs and attitudes in regard to money and wealth.

The Biggest Gamble of Your Life (Is College Worth it?). Article written Dec 2006 by REEF (Robertson Education Empowerment Foundaton).

Forbes.com: Is College Worth it. Another article that discusses the financial pros and cons of getting a college education.

Boston Globe: Is College Worth the money? Op/ed piece written by Daniel S. Cheever Jr. (June 3, 2005).