Learning Josh

Over the last couple of days, the financial situation in the US has been the top story and people involved with the stock markets are concerned and on their toes. CNBC personality and money expect, Suze Orman has her own show and offers tips and advice to viewers on how to effectively use their money. If you have foxtel, watch her show, she is full of wisdom!

Now, I don’t have shares, I really don’t have a credit card, my HECS debt is increasing and I don’t have any investments. I am definitely not a financial expert (yet), but I will not be ashamed to say that I know how to budget, I know how to save and I know how to be generous.

With money being a very important factor of our lives, I think teachers need to introduce the concept of saving money and even investing. I know teachers are doing all sorts of things such as reward systems that get students used to earning, saving and spending. But why should we teach the concept of investing? Because if kids can learn that money can work for them and they make sound decisions with their finances, they can set up a secure financial future for themselves, their families and even others.

People in all professions (especially teachers) complain about their pay because they have a family to feed, mortgage to pay off, bills, taxes etc etc. Fair enough, but imagine if they learnt how to save money, invest wisely and learn how to be generous with their money when they were in school – do you think the way they handle their finances now would be different?

But what does being generous got to do with it? I have learnt with my experiences, that If i give a portion of my pay to a charity or organisation, that I obtain a different mindset towards my finances. I suddenly feel as if I don’t need to hoard all of my money but I have control over it! Not only do you make a difference but I believe the benefits you get back are more than rewarding. And not once have I ever gone bankrupt.

So, the question is, how can I educate myself and my students on how to effectively deal with money? What strategies can I use in the classroom to promote earning, saving and investing?