Home Schooling a Future Millionaire
The public school system in America is a dinosaur
and the Ice Age is not far off. With all of the advances we’ve
made in technology and as a society in the last 50 years, it’s
ludicrous to see our children being educated in the
standardized system used 50 years ago. The influx of parents
who are home schooling and the home schooling resources
available now versus 10 years ago attest to the fact that
parents are fed up.
Not only do the majority of public schools not work, but our
children are getting less and less education. American
children are getting further and further behind their Japanese
and German counterparts; and in a time where the economy is
global, how do our children remain competitive in the job
market of tomorrow?
Besides the threat of violence at school, the lack of
education going on there, the generally sliding test scores
and the lack of alternatives; the economical drain on property
tax payers to support this lumbering, antiquated system is
phenomenal. Simply put, if all of us had the option of doing
something else, most of us would. Private schools, magnet
schools or home schooling alternatives are a reality.
For some of us though, there is currently no feasible
alternative. Many of us simply cannot afford to shell out
college-sized tuition starting in grade school. For many more
who work outside the home, the time required to start home
schooling is a commitment that we’re not sure we can
incorporate into our already packed schedules.
What is your child really learning at school currently that
will translate into success and financial freedom and
entrepreneurial skills later on in life? If we all sat down
and looked through the graded papers our children bring home
and asked, “How does this turn into dollars and cents later
on?” the answer would be, “Most of it doesn’t.”
So what can you do right now, on the budget and with the time
you have to improve the quality of your child’s education?
Expand where you’re at.
What is your child learning about money right now? Normally we
learn early in grade school how to recognize money (what’s a
nickel, what’s a dollar), we see math used in story problems
where the concept is actually addition or subtraction; and
that’s our money education unless we receive additional
education in college. For a subject that is so near and dear
to our hearts, money is not prominent in most of our
educations.
This is where a lack of education spells a future lack of
funds. You want your child to become a millionaire later in
life; or even just be financially independent, you will be
responsible for showing them how to think and what to do with
money. Setting aside one hour a week to discuss finances with
your child would give them so much more of a head start than
they have right now. Make it interesting, make it personal,
teach them what you wish someone would have taken the time to
teach you. Are you paying bills this week? Have your child sit
down and watch what you’re doing. Explain the method of
accounting you use and what you’re paying for and how much.
Are you setting up a budget for the family? Give your child
the opportunity to give input on the budget as well as see how
it works.
If finances are a problem in your family, your child needs to
understand money now more than ever. If you’re facing
creditors, bankruptcy or foreclosure, why keep your child in
the dark regarding the circumstances? If you’re investing for
the future or for their college, why not explain what your
goals are? Can you explain your own financial goals or why
you’ve chosen a specific investment? Can you explain simple
stock market terms, what is a certificate of deposit, what is
a treasury bond? If not, maybe this is the first step in
learning more about your finances – teaching your child. Don’t
be embarrassed to start at the beginning; just start.
What is your child learning about business right now? For most
people’s children, their business education is confined to:
trying to explain what their parents do for work, going to
work with them one day a year and then getting their first job
at 16. They will learn more about business if they go to
college with a business major, but what practical, real-world
experience are they receiving? Can you realistically expect
someone with that limited amount of business knowledge to
start and run their own business? How did you learn about
business if you own your own?
You had to jump in and do it.
Whether you own your own business or not, all of us can agree
that an education in business is a great way to cover core
concepts and grasp a general idea of a topic, but experience
in business is priceless. Your child starting a paper route or
a babysitting business will teach them on a personal level
what coming to work with you once a year would never do.
Expand where you’re at. The entrepreneurial spirit that you
are growing is an education that your child will never forget.
Rather than sit back and watch our children waste precious
learning time in front of the television, as a family commit
to one hour a week getting an education on money. Go to the
library, get on the Internet, find material that excites and
inspires you and your child will become excited and inspired
about money.
Home schooling is a term that really means, “The buck stops
here.” If we choose a better quality of education for our
children, we have to supplement at home. If we choose a
successful mindset for our children, we have to show by
example. If we want more for our children regarding money and
business potential for our children than we have had, we have
to provide them with more right out of the gate.
Right now there are more resources available for at-home
education than ever before. We have more information at our
fingertips than any generation before us. What is our excuse
if we don’t use it?
Ultimately, what will give your child a leg up in a global
economy and an ever-changing job market will be the confidence
you instilled in them and an education than can be calculated
into dollars and cents.
Cheryl Hall
(www.MillionaireKids101.com) has the keys for
parents to help their children become financially
successful. She has created 3 courses to help children
learn how to think about money and start on the road
to wealth and independence; Millionaire Kids 101, 201
and Millionaire Masters. Cheryl is a successful real
estate investor and has been helping new investors
start on their way to financial freedom.
The views and recommendations expressed in this article
are those of the author and not necessarily those of
More4kids Inc., and there is no implied endorsement by
More4kids Inc. This article is for informational
purposes only. |
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