If you read personal finance blogs like this one, you are probably way better about money than the average person. I am always amazed at how sometimes, I will talk to someone about simple money topics, like if they have a budget, if they carry a balance on their credit card, or if they are familiar with the terms of their mortgage, and so many people are clueless!
Financial education should really be taught in high school, for many can’t rely on their parents to teach them about money, and will thus reproduce the patterns of reckless spending and living beyond their means they have grown up with. I wish we would all understand the best way for us to invest, save and give money, as it is the result of our hard work, and it really pains me to see how entire paycheques sometimes disappear in interest rates and overdraft fees.
We talked recently about how money is sometimes a taboo topic, how parents are uncomfortable talking about their financial situation to their kids, how spouses sometimes wait until it is too late to disclose a bad debt situation to their partner, resulting in stress and even divorces. I am glad I had parents who knew the value of teaching their kids about money, and from a young age was encouraged to earn my own money, asked about how I planned on spending it, and introduced to options to save it and make it grow. As a young adult, having had a good financial start in life is probably the most valuable gift I could ever receive, as debt never burdened my life choices. It is never too late to learn about money, and to help you do so, Totally Money has put together a little quiz to test your knowledge, enjoy!
Click image to take the Money Master Challenge (via TotallyMoney.com).
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