Financial Education for Kids
The aim of this section is to provide information that you either wish you'd learned at school or information that you would like to have passed onto to your kids.
Little disclaimer before we carry on...I'm not bashing schools, I'm not a person who believes that everything we learnt in Math was a waste of time. I actually enjoyed and learnt a little. Ok, so I haven't really used Pythagoras Therum but I've got to say learning timetables and being able to estimate has helped me heaps in life.
So what should they have taught us at school??? Here's my top ten things I wish I would have known:
1. How to Negotiate buying a house! Or even the difference between renting and buying!
2. How to work out Interest rates...of everything credit cards, car loans, home loans, etc.
3. Different types of loans and repayment examples....e.g. what is a payday loan,
4. Different types of investments
5. How retirement funds work.
6. Real Estate
7. What bills need paying in your home.
8. How to actually work out an energy bill.
9. Different theories on dividing up your income - e.g. the 50/30/20 rule.
10. The impact of money types on stress e.g. Spender, saver, frugal, etc, etc.
The examples above would have been so useful and could have been taught in an overarching way encompassing all views. Without getting too political though I do wonder if everyone was sensible with their money, the impact on a lot of companies would be massive.