It’s Independence Day – Americans are are thinking about picnics, parades, and fireworks. How about a budget?
During World War II, Americans endured rationing, and planted Victory Gardens as an expression of their patriotic duty to the country as we collectively endured a difficult time. What problems face America today?
I would argue that the biggest challenge facing our country today is financial: we arenot a nation of savers, but of borrowers. We have spent the last 30 years focused on consumption, and not enough on production. As a country, our motto has been, “Buy now, pay later.”
Unfortunately, it looks like “later” has finally arrived.
The current generation of kids is on track to be the first generation in 80 years (that is, since the Great Depression) to be less prosperous than their parents. If these kids are going to survive in today’s America, they’re going to need to learn to manage money better than we did. They’re going to need to learn at an early age how to set up — and then follow — a personal budget.
This 4th of July, resolve to do something patriotic. Teach your kids how to keep a budget!
It’s really easy to do, even if you’re not using a budget yourself. We go through the full process in our book (available on this site) as well as in bits and pieces in more blog posts here. If you have any questions, or need some advice, just drop us a line in the comments. We’d love to help!
Happy 4th of July!