Education & The Economy

Why are we experiencing the current downturn in our economy?

Here are a few logical reasons (in no particular order):
1.  It’s normal for economies to experience cycles, both up and down.
2.  Recently, people and companies were able to borrow too much money, too easily and at interest rates that were too low.
3.  People and companies also spent more money than they should have.  Saving rates were at historic lows and very low relative to other countries.

There are many additional reasons, but I’d like to focus on one that most people are not talking about.  For the most part, our schools don’t teach their students about money.  If you don’t receive a financial education at an early age, you go through life learning about money by making mistakes.  Wouldn’t it be better to learn about money before making mistakes?

Even most our political leaders who are now making major financial policy decisions for our country have not had a strong financial education.  Maybe they’ve taken a college economics course, which is only better than nothing.   Everyday financial decisions about earning money, saving money, spending money and investing money are not taught to most young adults here in America.  Impressionable young adults grow up to become heads of families or heads of companies or heads of state.  Instead of dwelling on the past mistakes, we should focus on our children’s future.

A great way for you and your children to start learning about money is the new innovative Intro to Money DVD created and distributed by Money Lessons for Life.

About Money Lessons for Life
Money Lessons for Life was founded February 2007 to teach children, teens and adults about money. Our increasingly complicated financial world requires a greater understanding of money, yet many struggle with even the basic money concepts. We’re here to help to get everyone on track by offering innovative:

• School Programs
• DVD Money Lessons
• Public Speaking Engagements
• Individual Money Coaching