|
Author: Dina Harbour Article source: http://articles.bitsnwits.com/. Used with author's permission.
Now that we are in the month of June I can't help but wonder if we have prepared our new graduates for the responsibility of managing and budgeting their money.
I had a very interesting conversation with my God-son, a recent graduate from a local Los Angeles high school. He assured me that he is ready to take on the responsibility of purchasing a used car because he was working par-time for a fast food restaurant. When I asked him how much money he had saved he quickly told me that he hasn't received his first paycheck yet, but would appreciate money as a graduation gift to purchase a vehicle.
We talked about the value of saving as well as more responsible things he could do with the money he was earning. I explained to him that having a job was a good step towards saving for a car. However, he was still lacking in responsibility for assuming everyone else would buy the car for him. I strongly agree with the lending belief of banks, "if you can't come to the table with some of your own money, I can't give you my money." So our conversation ended with an agreement that he would cover insurance and gas with his income and save at least 10% for college expenses and I would send him a cash gift towards the purchase of his vehicle as a graduation gift.
I do understand that now days getting a car as a graduation gift is much more common then when I graduated from high school. However, I would rather teach graduates the importance of being responsible with their money then fashionable with their peers. What are we teaching them by having the mandatory cell phones, computers, credit cards, digital cameras, dvd players, and mp3 players? I think the message is pretty clear, "consume more, save less and stay in debt."
Well, pretty soon he will be off to college where he will be bombarded with credit card applications, cell phone companies and many other vendors enticing him to get into debt. Hopefully he can learn how to be responsible with money before he earns his college degree. Otherwise my next gift will be for him to attend my debt management class. I don't think he would like that very much. All Rights Reserved
Dina D. Harbour,
Financial Coach
http://www.wanteddebtoralive.org
Picture Perfect Bread
The secret—at least most of it—is in the rise. The most common mistake that we see in bread making is not letting the dough rise enough.
Herbal Pain Remedy
NSAID's, the popular group of prescription painkillers, have recently experienced somewhat of an upset when the major players in this arena were pulled from mar...
How to Evaluate Job Offers and Zoom In On the Right Opportunity for You
You've been successful in your job hunt and have received a job offer. That's great. The next question is, how do you evaluate an offer to see if it is the righ...
Customer Service Is Dying - and Im Not Feeling So Good Myself
Have you ever called a company and been greeted with the phrase "Hold, please"? How do they know you can hold? They don't even know who you are. Maybe you can't...
Tree Pruning Tips
Why hire a professional to prune your trees when you can easily do it yourself? This article provides everything you'll need to know to make the trees in your ...
How To Be An Internet Marketing Champion
How bad do you want to make money on the internet? You know thousands of people are doing it and maybe you've had a little success. But do you really want your ...
How to Find Hotels with a Sauna
You are on vacation with your family and decide its time to get away from them for a while, to get some space. Walking around outside is an option but you've be...
Exercising In The Heat: 5 Tips to Help You Keep Your Cool!
Are you getting the best out of your exercise program during the warmer months? We often hear the phrase "Train smarter, not harder". Well this is one of those ...
Flooring: So Many Choices!
How many ways can you think of to cover a floor?
Carpet, hardwood, stone tile, vinyl tile, stone tile, ceramic tile, area rugs. That's a lot of choices. Many f...
Fear -- The Great Enemy Of Creativity
Creativity is life altering. However, for many it becomes life threatening by bringing about change and we are terrified of change.
Rejuvenate & Re-Fuel Your Inner Drive
Solo Entrepreneurs have unique needs as they build their small businesses. Here are three key ways that Solo-E's motivate themselves to success: by maintaining...
Finding Antiques And Collectibles To Sell On eBay
Here are 10 quick ways to get people to sell you their antiques and collectibles. These will get you thinking about ways to make your phone ring. I buy and sell...
Personality Testing; Myth and Realities
Psychometrics? Some believe in them and others reject them altogether. However, personality testing, personality psychology and personality theories are just li...
Top Reasons To Form A Strategic Business Alliance
A strategic alliance is when two or more businesses
join together for a set period of time. The businesses,
usually, are not in direct competition, but have sim...
Industrial Income Property Financing: Part 3 of 3
Welcome to the third and final segment of a three-part series about income property. In this segment we will be discussing financing options for industrial inc...
The Art of Link Exchange
Link exchange is important in SEO. Learn how you may do it.
What Are Custom Golf Clubs
Custom golf clubs are anything from a single club to a full set of woods, irons and putter which have been custom specified and assembled just for you. They may...
7 Great Motivators When You Feel Like Giving Up
7 great ways to stay motivated when failure breaks your spirit.
Finding The Right Business For You: Low Admin Is Essential
Discover the key criteria to apply when searching for the business opportunity that's just right for you. Keep administrative affort to a minimum and focus on w...
50 Ways To Generate More Money In Network Marketing (Practicing The Obvious)
If the art of Network Marketing is your "pin-point" passion, you may certainly want to take note and put into play these 50 "best practice" marketing techniques...
How Distressing is Social Phobia?
Social phobia is a common occurence and yet frequently unrecognized. This article describes the symptoms and treatment of this distressing illness.
Private Money Vs. Hard Money
What exactly is the difference between private money and hard money. The difference is quite simple but a very important but it is a very important distinction...
Preparing Your Child for the Three Rs
There is little doubt that reading, 'riting and 'rithmetic are crucial elements in the education of any child. A child's ability to later cope in the adult worl...
Athletics and Winning
Athletics are pretty cut and dry in one regard; the goal to win. Having been in competitive athletics in a prior life I can certainly attest to that. Often howe...
|
Print this page