What is the Color of Money – Why Must Parents Also Play a Role in Teaching Financial Freedom?
A survey in North America on financial freedom A survey at a University in the USA found that most teachers don’t think they are suitable to teach their students the basics of personal finance or issues regarding money. This is a recipe for a future financial disaster. Most teachers who recently graduated are still in high debt due to student loans and will feel uncomfortable teaching their students financial freedom. Disturbing statistics. During the survey the teachers were asked to rate themselves in six personal financial areas: Income and Careers, Planning and Money management, Credit and Debt, Financial responsibility and Decision-making, Saving and Investing, and Risk management and Insurance. Only 19% of the teachers felt they were “very competent” in any of the six areas. Another statistic shows that only 33% of them had taken a college course that included personal finance content. The mind of children This clearly indicates that there is a great need to incorporate personal
