What truths about money and work should we teach our children?

Answer 1

That it will be harder for them to find high paying jobs than it was for us or our parents so there fore they need to be competitively educated.

Answer 2

That if you want a lot of money you have to work hard for it. Just having a degree won't guarantee that you'll get a job or that you'll be able to keep it.

That working for money is a means toward an end, and not an end in itself. Everyone needs to work out a balance between work and family time so that you work long enough to get the money you NEED without sacrificing too much time with family. Some people think that they NEED to be able to afford a luxury car and an expensive house and all kinds of electronic toys and they work fifteen hour days to get that stuff only to find that their kids grow up as strangers to them and they don't have time to enjoy those luxuries anyway. All you need is a car that runs, a house with a roof that doesn't leak, and some money put away for a rainy day.

Answer 3

Don't spend all your paycheck. Put away a little from every check for unexpected expenses and for retirement.

Buy health insurance.

Wait until you have saved enough and make your purchase in cash. If you cannot afford to put aside the money and EARN interest while you wait to buy, you most certainly won't be able to afford to pay back the loan WITH interest.

Answer 4

That money doesn't grow on trees, and therefore is not freely available whenever they ask for it)

That they need to use their allowance (if they even get an allowance) and save for whatever they want.

That mom & dad are ALLOWED to say NO sometimes - without the kid having a temper tantrum.

Answer 5

That we have to earn our bread by the sweat of our brow. I've had a lifetime to see and do that. Nothing else really works. It always leaves you unhappy.

Answer 6

money is the root of all evil but we need money to survive and money breeds untruths but you cant let it ruin you