I want my kids to be in debt when they grow up.

I want them to live paycheck to paycheck, or on welfare. I want them to be engulfed in bills, to be unable to manage their money, and to never get ahead in life. I want them to waste money on frivolous things, while going without necessities, all because they simply don’t know how to manage money or balance a checkbook.

HUH? What parent wants THAT for their kids? I don’t think ANY of us want our kids to grow up to be adults who live hand to mouth. I’ve had my fair share of money troubles, and I know first hand the stress that it brings into your life and your marriage. I wouldn’t wish it on my worst enemy, let alone my children.

So what am I doing to help my kids grow up to be smart with a buck? Unfortunately, not much, other than attempting to set a good example for them. I realized I can definitely do more for them though, and these downloadable MoneySmart workbooks are a great start. These e-workbooks are designed for kids and teens from ages 8 through 19, and will give kids the know how they need to make it in the real world. Did you know that young people ages 18 to 24 spend close to 30% of their income on debt payments? And that’s DOUBLE the percentage from 1992. We’re not getting smarter with our money, we’re getting dumber. I don’t want me kids to ever be paying on debt like that, and living on Ramen noodles in the meantime.

The workbooks (available in a USA $ edition, as well as a Euro € edition) teach children how to set goals, the importance of a budget, and how to save money. You can reinforce what the book teaches by helping your child set up a savings account, and demonstrating how a budget works in the real word. If your electric bill was double what you budgeted for, and you can’t afford that weekend at Disney, that’s a great life lesson! The teen edition of the book shares the 10:10:10:70 principal with teens – donate 10% of your money to a good cause, save 10% for a future purchase, invest 10% for the future, and spend 70% on day to day expenses.

By giving your kids the tools they need to learn how to budget, save, and spend money wisely, you’re ensuring that they’ll avoid the pitfalls of debt in the future. This is just as important as teaching about stranger danger and safe sex, in my opinion. It can be the difference between a bright future or one filled with debt and despair for your child. At $12.50 and €10.50 for the books, you can’t afford not to buy them.

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