homemaker

I heard we are going to start teaching children about finance in schools and I think we should be teaching it at the “Big 10″ universities, too.  I’ll bet these schools think they already do teach economics but they seem to need a few refresher courses. With that in mind, I’m going to devote a few blogs to “Duh” Economics and get students started in their upcoming classes.  Wall Street and government types might learn something, also.

1. Hey kids, when you buy something, you must pay for it.
2. In order to do this, you must have an income.
3. If you don’t have a rich relative giving you money every week, you are going to have to get a job and earn the money.  This, of course, does not mean taking someone else’s hard earned money and using it for pyramid or Ponzi schemes.
4. Buying something on credit is like borrowing money.  You do have to pay it back.

These four “duh” principals of finance are all you will need to get you started on a life of financial security.  Tomorrow I will deal with more facts that should get you an “A” when you are enrolled in the new class at school, as well as help you stay out of jail and keep your friends.