We Teach What We Know

As adults we set the standard when it comes to financial decisions and the lifestyle we choose. When we become parents we teach what we know and our children will normally imitate our actions. If they grow up watching us consumed with shopping malls, fashion, and spending money they will join the masses and become over spenders.  If we do not teach them when they are young to save and prepare for emergencies when they become adults they will probably struggle with their financial choices.

When I was growing up my parents showered my brothers and me with love, but they were not financially literate. My parents could not pass down what they did not know. So, like many people I learned about personal finance through trial and error. I realized that if I did not want my children to live the paycheck-to-paycheck lifestyle then it would be up to me to break the cycle. By learning basic financial information I gained the power to make better decisions with my money. More importantly it gave me the power to break the cycle. 

Lucille Tyler Baldwin
Author of "Sick and Tired of Being Broke"
http://thejourneytowealth.blogspot 

 

Future Millionaire: Young and in Charge

I really enjoyed the last few days. I had the pleasure of meeting opened minded women ready to take charge of their finances. I was invited to participate in a financial education and spa day for women. They received information during the day and after lunch the women were pampered with: pedicures, manicures, back massages, head massages, facials, and Mary Kay make overs. The women were pampered while sipping sparkling wine and snacking on light refreshments that included: fruit and, of course, cheese and crackers.

You know I am always talking about finances, so I was sooooo pleased to meet a 19-year-old woman who was already taking charge of her money. This young lady participates in her 401(k) at work, is already saving for retirement with an IRA, and she understands the value of keeping her consumer debt low. Not only was she taking charge of her money, but she was also encouraging her best friend to be responsible with money.

I was curious to know how she learned at such a young age to be responsible with her money. She said, "when anyone talked to me about finances, I listened and took the information to heart." As adults/parents we can teach our children how to become financially responsible.

The best way to lead is by example!  Do you need help learning how to take charge of your money?  Then order your copy of "Sick and Tired of Being Broke."  The path to financial freedom starts with financial information.

Lucille Tyler
Author of "Sick and Tired of Being Broke"
http://www.thejourneytowealth.blogspot.com/