Financial education is necessary for young and old.

Normally, when we are in school and college, we seldom realize the importance of investing, but as we grow in to adults, we slowly understand the importance of saving our hard earned money for the future. Today parents are careful in teaching their children the value of money, and I think it is indeed a valuable lesson for them as it prepares them for the coming times. As in every family, my parents too were my early teachers, and I have got my saving habit from them. In fact, the sooner you learn, the better it will be for you. My mother often tells me the famous proverb “Save for the rainy day”. It means we must save enough money for emergencies.

In these times of recession, it has become even more important to invest wisely. Most people do not know how to invest, but it is never too late to learn. America faces a severe financial problem in the recent years as millions of Americans lost their jobs and did not know how to deal with it.

It was not their fault entirely, but they still had to face the consequences. Our educational system does not have financial education included in it or else we would have greatly benefited from the knowledge. People study and try and develop their knowledge regarding financial matters. It pays to be aware of issues relating to money and how we can save it properly for our future. It certainly makes us more confident when we know that we have saved enough for emergencies.

Why should we save for the future?

The present financial crisis has indeed taught us a lesson or two in saving and making careful investments. People lost their jobs and were practically on the streets. I dread to think what most families must have gone through a period like this when there was an acute financial crisis in America. The American government did not know how to deal with the situation and was quite helpless. Probably, in a time like this we realize the importance of a good financial education.

Americans are a wealthy lot but a crisis like this left them in a lurch and the economy has still not fully recovered from the shock. It has indeed left many of us wondering where we went wrong. Working people as well as well as pensioners today have very little saving left and it a matter of great concern for the government.

A grown ups let us take the responsibility of teaching the younger generation to value the importance of money as they will be better prepared to face any kind of crisis in their lifetime. If we as adults do not do our bit then the younger generation may not learn anything. Colleges like, William Penn University, have opportunities for working adults to increase their education, and set an example.  There is a famous proverb “Waste not, want not” and it still holds true. We should spend money when it is necessary and save most of it for the future. Children should be taught at a young age and that will remain with them for the rest of their lives. Financial education is must for everyone.