The US Treasury released a new report on behalf of the Financial Literacy and Education Commission that recommends mandatory financial literacy courses for college students. Currently, many lack the knowledge and wisdom to make financial choices throughout their lives that give them the tools to effectively participate in our economy and support themselves.
My question is why are they waiting until a child has turned 18 to educate them on how to save and the value of saving during one’s youth?
The only piece of this report which I found had true value was in the Provide Ongoing Support section, which recommended enabling continuing opportunities for people to build their knowledge, confidence, and set goals.
Saving is a basic premise
For example, for ever dollar you earn save 10%.
You are building a habit which will follow you throughout your life. Few people have looked at how fast compounding works. A chart showing the compounding effect of saving a penny and each day doubling is pictured here.
Save more and spend less
If you will ask yourself “Why do I need this? Is it more important than saving for the business I want to start, advanced education, the nicer car, house, or the security of knowing I can pay my way through life?”
Knowledge creates wisdom and wisdom brings opportunity to us.
NOW is the time to save those pennies.
Are you prepared for your financial future?
Let’s get together and I will help you experience — and understand — how your money will grow in the world of long-term investments. Let me show you how much fun it can be! Call me, Vicki L Wille, today at 702-878-9562.
Or click the button below and…