hi all
just wanted to ask if anyone knows of any educational institutions for kids (preferably in Adelaide) that do not teach kids to be taxpayers. ie
a school that can teach my child from day one how to
be financially independent by making money work for him instead of the other way around. any links would
be appreciatedXenia
Hi Xenia,
I dont think, you will find many schools around,
You can try to teach your kids so much, but its up to them, if they want to pursue and further go on and become succesful.A good book i can suggest is, Rich Kid, Smart Kid – How to give your child a financial Headstart. by Robert Kiyosaki
hope this helps
s.i.sHi Xenia
We have friends who send their kids to a Montessori school (we don’t have kids) and my understanding is that they teach them to think outside the square and to think for themselves. This is the first tool you need to be financially independent.
Worthy of further research.
And buy educational books. I know that has definatly shifted my mental focus.
NevaniaHello Xenia
Following on from S.I.S. Robert also sells kids and adult board games that teach people how to invest and make money. I have never played these games but have heard they are good. They are a little on the expensive side at around $100-$300 but thats not much really for a good head start. I dont have his web address in front of me right now but Im sure if you do a google search you will have no trouble in finding it.
Scott
“Together we combine our strengths and eliminate our weaknesses”
Hi Xenia,
Here is the website that Strw23 is talking about http://www.richdad.com there are 3 types of games. For the kiddies, young adults and for the adults and business minded, though im sure if you look around, you might find an old game board of Monolpy around, doesnt do the same sorta deal as Rich Dad’s games, though it will be a stepping stone for your kids, or you can first try to teach your kids yourself about money, give it a shot.
Just a short note i want to add, if your kids dont do well school it might not make you feel the best, but if they understand money and how it works, there still gonna be smarter than the kids that didnt. Take it from me, and this is honest, i went to 5 highs schools and failed (this is because i didnt like school and school, i always saw as a waste of my time), but i still graduated and went on to a private college, then on to uni, which i just dropped out of, and now doing tafe next year, yet i might have a messed up education, but my smart friends, they have no idea on how money works… though for everyone this can be different.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”
http://www.theenlightenedway.com/tools/mil_calc.shtmlthanks for the info. i will check out montessori
thinking outside the square is definately a good start. both my husband and i spent 10 years at uni getting PhDs that led to jobs in research where we would spend 14 hours a day thinking of the next ground breaking medical breakthrough. although we are glad we have been there and done that, we are also gratefull to be out of it and making more money in property by working a fraction of the time.what i would love for my kids is to distinguish the difference between academic and financial education, during uni, we were not even aware that the latter even existed!!!
as for the rich dad board games, we have them
all (even the kids one), they are great fun especially if you have like-minded friends.thanks for your help once again [
]Xenia
This is a really interesting topic as I agree withyou about not knowing the diference until I was an adult and had to find out for myself, i used to “blame” the my parents but came to realise that they couldn’t teach me what they didn’t know.
What I do know now is that my son WILL know the difference because we will make sure of it. I think you can rest assured that if you are concerned about it now that it is very unlikely he/she will never know the difference. You will make sure of that.
We are sending our 2 1/2 year old to Montessori next year. They take the approach of being aware of a childs sensitive periods in their developement and ensure they don’t miss out on learning all the necessary skills at the appropriate time. All the children stay in a mixed age class room until they are 6 years old and during this time as they grow they develope leadership skills as they are encouraged to help new students each year to fit into the room, the idea is that they learn more through teaching and by the time they are 6 they have already been the big kids of the school instead of having to wait until they are 12.
Anyway I could ramble for ages.
Cheers
Leigh K[]Carve your own path and lead the way …
Hi All
We also try and teach our kids about financial independence, one thing we do that Robert K suggests is the three money box system 1 for savings, 1 for spending and 1 for charity, my eldest one really took to this she saves 50% spends 40% and charity 10%. The savings will eventually be invested into something like shares and she really enjoys selecting a charity to donate her money to, I think this time it will be the guide dogs.My seven yr old has now asked if she can have 3 money boxes so that she can do the same.
We talk quite openly about money and how we make it which is very different to my up bringing, about the only down fall is when the kids talk about how much their parents earn my daughter has to explain about what a share is or a company and how we dont live in all our houses. Which I guess means that she is learning and is interested.
ErikaPeople in Melbourne concerned about this please contact me.
Being 25 I am young enough to see how little I knew about money when I was in School, and also how much more I would have acheived in the past 5-10 years if I had a different education.
Im currently taking action on this as one of my long term goals is to improve the financial education of school leavers, but i honestly believe that the sooner you start the better.
If you are in melbourne and concerned about this contact me and I will let you know what I am putting together.
Cheers,
Steve.
[email protected] (not active between 20/12/03 and 06/01/04)
and also [email protected] (always active)What the mind of man can conceive and believe, it can achieve.
Hi Xenia
My partner and I love going through second hand book stores some of which have quite up to date second hand books. One book that I picked up for $1.00 at the Salvo’s was “The Great Boom Ahead” by Harry S Dent Jr published in 1993 and was predicting the stock market boom, falling interest rates (so buy bonds–explained in the book) and the resurgence of the American economy. Yep he is American. He was very good with his predictions and gives a good explaination to the economic cycles and the reasoning behind each cycle.He explains that the ecomony runs on consumer spending and that consumer spending is predictable. He has overlayed the birth rate of Americans lagged by 47yrs(peak consumer spending) over the DOW and they follow one another quite well.
I found his book very informative and went searching for his next book which was “The Roaring 2000’s”. Paper back in Dymocks was $62.00 but picked it up from America through Biblioz for $11.00 (new) plus postage and GST total of $28.39 and in hard cover and with audio. Didn’t find this book quite as good but was well worth reading as he pridicts the property boom and the move away from the suburbs to seaside country type areas and the Dow going as high as 21500 possibly 35000. Yes hard to believe but no-one believed him in 1980 odd when the Dow was at 1000 that by 2000 the DOW would be at 12000.
Anyway it gave me a better understanding of economics of the world and why most prophets are pridicting a down turn around 2010-2013 including Robert Kiyosaki.
Looking forward to his next book due out around February.
High on my list of recommendations.
Regards
Nevania
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