"...All the perplexities, confusion and distress
in America arise,
not from the defects in their constitution or confederation,
not from want of honor or virtue,
so much as from downright ignorance of the nature
of coin, credit and circulation..."
--John Quincy Adams, 1829
We often fail to educate our young people in one of the most interactive aspects of life - financial education.
In the Industrial Revolution of the 1900s, jobs meant financial security. In the Idea Age, the Internet makes it possible more than ever before in history for a student to create his own career.
One of the biggest lessons in the book The Millionaire Next Door is summarized in this verse:
"There is one who pretends to be rich, but has nothing;
Another pretends to be poor, but has great wealth." Pr.13:7
In America, many true millionaires who plan for their financial futures and are truly financially free, often own a janitorial company or a paving company and live next door to you in a modest house. Because they live a frugal life, you can't tell by looking at them what they are worth at the bank.
What we have to show the world about our wealth is not as important as building financial security for our children and grandchildren. Proverbs says "A wise man builds an inheritance for his children's children."
We should challenge our young people to be producers and contributors to their society, not mere spectators dependent on it and learn to plan for the future when they are young. Some respond to the challenge better than others.
Having a Mentor Helps
There are those who "do," those who "watch," and those who are "clueless." Do-ers offer the best examples to follow.
We must choose mentors wisely. Not only do young people absorb the subject, they also become like the teacher.
At our house, we have chosen a few entrepreneurs who are willing to share their lessons. We buy cassette tapes so the successful mentors we meet at conferences can talk to us all day long if we choose.
Having a Few Like-Minded Friends Helps
Sometimes it is hard to find friends who have an entrepreneurial spirit. If you have a few, thank God for them. If you don't, there are many folks across America and the world who desire to be financially free and to train their children to "mind their own business."
The world is changing and needs a few good men who will train their children to build their own businesses and take responsibility for their own futures. If that is the desire of your heart, but you don't have a clue where to begin, you're welcome to join our online community as we stumble forward together.
To join the group of budding entrepreneurs on our email discussion group, Entrepreneurs At Home, click here.
Resources
The best way to learn is by educating yourself through books, audio and video cassettes and seminars. Since there are four major learning styles, find what works best for you. Personally, I'm a seminar junkie. But I also read to myself everyday.
As we find interesting books on business that are suitable for
children, we will let you know about them. Click here to
see what we've already found.
Yes, we've read these and if they are not suitable for children, we'll tell
you. If you have a favorite or two that we haven't listed, feel free to write
and tell us about them. We'd love to hear from you!
