Now I know that you clicked on this because you are thinking I’m nuts. Why wouldn’t you care if your kids get a post-secondary education?!
“No post-secondary education for your children, are you kidding me? In these competitive times you need to have some kind of education!”
Let me clear the air and say that if my children choose to go to post-secondary education I will fully support them, but I will not be pressuring them by any means.
In my home the first and most valuable education is a
1 in 3 of my clients is struggling financially not due to a lack of income but due to a lack of knowledge around their finances and HUGE STUDENT LOAN DEBT! Last year alone the Canadian Government wrote off almost 3 million dollars in students loans! If you don’t believe me you can see the full article here.
I grew up in an era where you were expected to continue your education after high school. “No education is a waste of money”. This something I remember hearing and I do feel that you should always keep learning. However, I know more than 10 people from my graduating class that went on and spent years in post-secondary education getting degrees, masters and so on and I know for a fact that many of them are not in a career path related to their studies. In fact I love this article about some of the world’s wealthiest people that did not go to college.
Financial education should be mandatory in school. My children are currently ages 7 & 4 and are already being taught what a loan is (and how to pay it back or save beforehand), that profit is actually a formula (income-expenses), and how to think before making a purchase. Click here to learn some ways to teach your kids about money. Children learn from what they see and hear in their environment so we “practice what we preach” in our home. Along with the “practical” side of money I am teaching my children a positive/never give up attitude. Many people have words that are “bad” in their house the usual swear words, lord’s name in vain etc….
The words you are NEVER allowed to say in my house are the words
Many people I have encountered say that they never heard about money growing up. Their parents didn’t talk about it, they don’t teach that stuff in school and the list goes on. I guess my whole point in this article is that if you are struggling financially YOU can change that. I see it first hand with my clients every day. YOU can also teach your own children about money now so they don’t struggle with $100,000 of student loans by the time they are in their mid-thirties.
This brings us to the end of my rant….I will fully support my children in whatever they decide to do after high school. Whether they want to study, travel or open their own business I’m cool with that. But I am making sure that they know the importance of cash flow, a budget and the difference between a smart and emotional purchase. If you want your kids to learn but don’t want to teach them check out my courses.