Is it important?

Discussion in 'Black Parenting' started by Wisdom7, Aug 26, 2005.

  1. Wisdom7

    Wisdom7 Well-Known Member MEMBER

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    Do you think its important to teach kids about finances, investing and creating generational wealth? If so, at what age do you think is appropriate?
     
  2. panafrica

    panafrica Well-Known Member MEMBER

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    I think this is immensely important, because the only other place they will learn these things is on their own accord (for the most part learning how to invest & generating wealth isn't learn in school either). Parents should teach their kids about saving money as soon as they get an allowance, which is when I plan to teach my two children.
     
  3. Sekhemu

    Sekhemu Well-Known Member MEMBER

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    From the age they can count from 1-10
     
  4. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    yes it's very important that all children know the worth and value
    of investing how to manage money and security , time can be
    at different ranges of a child but as soon as they can count or
    as Pan stated get allowance you should try and teach them how
    to save a cent invest a cent and spend a cent wisely ................
     
  5. Wisdom7

    Wisdom7 Well-Known Member MEMBER

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    I agree with you both Panafrica and $Rich$. I bought this up because at my age, I have just learned even a small bit of what was immensely important and now I have to play catch up because the way I handled my finances is a threat to my future. Oftentimes we don't think in terms of "generations". We live in the here and now, and with all of our other problems as a whole, the way the kids are dying, our generation ends in this lifetime. We have been set up to supply services and monies to keep the generations of others flourishing, but we haven't been taught how to keep our own. The mass collective would rather feed our kids video games and make sure they keep their minds addicted to being a winner on that level, but time is definately money and I think our kids would benefit a lot more learning about these things and keeping their mind set into building the future.
     
  6. Wisdom7

    Wisdom7 Well-Known Member MEMBER

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    I'm sorry Sekhemu, I missed your post. But I agree with you too. I'm 33 and just now learning what I wish I'd known then. :cry:
     
  7. karmashines

    karmashines Banned MEMBER

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    Yes. Before 16 you can teach them by giving them an allowance. After 16 they can get a part-time job and learn how to budget themselves.
     
  8. notbeautiful

    notbeautiful Active Member MEMBER

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    Yeah, do it early. This way you're investing in them so later they'll invest in themselves.
     
  9. Wisdom7

    Wisdom7 Well-Known Member MEMBER

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    Should we teach them about investing and how money grows to create an estate? just a little beyond allowance and saving. Like as far as teaching them not to be consumers.
     
  10. Sekhemu

    Sekhemu Well-Known Member MEMBER

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    Sistah you really ask some da*n good questions :1on1: . You got the God on a mission :thinking:
     
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