Thinkologie Edit “It is not the money you make, but the money you get to keep.”
A search via any search engine of the most discussed topics, most written about, and most worried about, reveals the source of all this creative angst – money. Or should I say lack of it?
I am in the process of writing a guide to help parents of teens, or educators of teens educate their subjects on this subject. As I research what is out there I am appalled at what I do find.
Hiding in plain sight
While the emphasis in high school is preparing for college. No one talks about the elephant in the room. The college bill.
For those who can pay and donate their way into admissions, this is not for you.
But, for those of us mere mortals….
As a parent of a soon-to-be freshman, and as an educator in a high school, I am perplexed by the lack of preparation for the financial futures of our students.
My mother always told me this one fact – It is not the money that you make that counts, it is the money that you get to keep at the end of the day that really matters.
How true is this?!
Changing Goal Posts
While I do not doubt the ability of a four-year college course to prepare a student for a future – although I may say that too is slowly dissipating – we now require either a doctorate or just sheer luck, and who you know to get ahead.
Still, how about writing a comprehensive course on how to pay for college and beyond, without breaking the bank, or going to a therapist, dear curriculum writers?
The taxman wants my money, my landlord wants it too, and what about my farmer and family?
Every college-graduate student gets a hasty introduction to the real world when presented with some real choices. For example, the need to pay rent, but there is a student loan, and what about that latest video game? Or the trip to Cabo?
Financial Education
Teaching and helping Juniors and Seniors in high school to develop the habit of prioritizing expenses in categories of wants, needs, and priorities, as simple as it sounds, will help them create their millionaire stories quickly.
Of course, the pandemic caused a seismic shift in the millionaire theory.
Tim Denning, the famous Aussie blogger has this to say about wealth, “Being able to do whatever you want, whenever you want, however, you want, without being a wage slave is the ultimate form of financial success.” His post on the accumulation of wealth is so different and refreshing. It truly resonated with me.
Of course, courses are not the only education we need on achieving financial stability. We need to be happy and content with less rather than more.
I tried an experiment in 2017. I wanted to see if I could go without buying new clothes and shoes for the whole year. I realized that I could. The world did not end. And I still managed to look presentable in the process.
Education starts at home. Teaching kids practical stuff, like couponing, taking advantage of sales, going without, and house hacks is stuff they can take with them wherever they go.
There is nothing like the hard knocks of life to teach you the most important lessons. So, I would not discount experience either.
We at Thinkologie created a college planner to help Freshman streamline and organize their experience.
It has savings, debt, bill trackers, roommate agreements, household stuff etc to help your student organize from the get go.
Let us know what you think? How have you hacked the financial burdens of adulting? Comment below.
