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Foreign and interior economy, the essentials of economy, history of economy and so on and so forth, I can continue to name all the courses that our educational system provides us with in Colleagues and Universities. However, do they teach us how to maintain our budget? How to make it and stick to it? Have to save money when we are getting our first job? The answer is NO! And I will explain why it is so.

Who should teach us such things? Maybe it should be our parents? But do they know something about financial planning better than the teens do, I don’t think so. That’s why our financial industries should take the part of responsibility for that and make our teens responsible for money they spend. I think that money management responsibility is one of the most important things that every one should know in a contemporary world.

So what our teens should know about money:

The important thing they should know about fiscal affairs and money managing is setting goals. This means that the parents should teach their children to save money starting from first their first earnings. For example, child needs to take 15 percents of their babysitting salary and save it. That will teach them to put 15 percents of their real profit when they grow up in saving account in bank. So that would help them to see visible goals from doing it in the future.

After all those saved money would help them make a good investment in their first car or even in higher education.

In our modern society teens became so spoiled by the way their parents bring them up. I am talking about buying new things. Teens first buy them and only after that they think if they done the right thing and if they really needed that purchase or not. However, all the responsibility of bad credit scores lies on their parents now. And usually Moms and Dads do not want their kids to start with bad credit history.

While protecting your kid from life experience you won’t make them learn anything. It would be much better if they learn something useful from their own life time experience. Now think how is your son or daughter maintains his or her own budget? Do they actually stick to it?

Do they skip out on summer vocation or new dress when there is a bad credit score? Who solves their problems? Who does their credit repairs? The answer is simple – their parents. However, the circumstances may change quickly and sudden. You kids should learn to live on their on. After all, only real dangerous situation becomes the rescue. Make them acting and solving it alone, only in that way they might star planning their further financial life.

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