Home
>
Personal Finance
>
What Are We Teaching our 2005 Graduates about Money?

What Are We Teaching our 2005 Graduates about Money?

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.

Dina D. Harbour,
Financial Coach
http://www.wanteddebtoralive.org

Brownsville wedding limousine .. Lockport Chicago limo O’Hare

In The News:

You can reset your internet router remotely if you're not home when your power goes out. Kurt "CyberGuy" Knutsson explains how this can be done.

The EO Canopy is a self-sustaining, solar-powered camping platform designed to provide all the comforts of home while completely off the grid.

Experts say hackers who used to focus on Windows operating systems are increasingly targeting Apple IDs as part of a new phishing campaign.

Unitree, a Chinese robotics company that developed a backflipping robot, has now introduced a humanoid robot capable of doing a side flip.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

According to the FBI, cybercriminals are sending extortion letters, threatening to release victims' sensitive information unless a ransom is paid.

FireSat is a satellite project designed to detect and track wildfires early, aiming to detect a fire that's the size of a classroom within 20 minutes.

Tech expert Kurt “CyberGuy" Knutsson reports that researchers have uncovered a Chrome vulnerability used in a cyber espionage campaign.

Preserving voicemails securely on Android: Tech expert Kurt “CyberGuy" Knutsson reveals easy methods to keep memories alive forever.

This phishing kit bypasses 2FA via session hijacking and real-time credential theft. Kurt “CyberGuy" Knutsson offers four ways to stay safe from Astaroth phishing attacks.

Tech expert Kurt “CyberGuy" Knutsson discusses Joby Aviation and Virgin Atlantic planning to launch 200-mph U.K. air taxis linking airports and cities.

Fake Apple virus warnings, security alerts and messages are tactics used to prompt you to call a number or click on a malicious link. The CyberGuy explains how to protect your devices.

The combination of artificial intelligence and neuroscience allows a paralyzed man to manipulate a robotic arm by using his brain to imagine movements.

With the help of artificial intelligence, sophisticated fraud techniques emerging today are virtually undetectable to the untrained eye.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents

If you need to free up space on your Mac, consider deleting duplicate photos in your image library. Apple makes it easy to do, and the CyberGuy explains the process.

Microsoft is discontinuing Skype in May after 22 years of service. Kurt the CyberGuy addresses other options for internet-based phone and video service.

Tron 1, a Chinese company's two-legged robot, is versatile and can walk, roll and pivot, even on rough terrain. Tron 1 stands 33 inches tall and weighs 44 pounds.

Hackers are tricking people into installing password-stealing malware by making them press keyboard shortcuts under the pretense of proving they're not bots.

Saving the voices of loved ones can be a comforting way to keep alive memories. Kurt "the CyberGuy" Knutsson explains how to preserve voicemail messages.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

The FBI warns that some free online document converters load malware onto people's computers, making their private information vulnerable to attack.

Toyota's compact electric FT-Me is designed to tackle challenges of city living while offering an accessible and eco-friendly transportation solution.

Kurt “CyberGuy" Knutsson says 23andMe's bankruptcy raises data privacy fears: Opt out, download and delete data now.

UBTech and Zeekr unite with AI robot swarms to make car manufacturing faster and smarter. Tech expert Kurt “CyberGuy" Knutsson explains how the process works.

What Are We Teaching our 2005 Graduates about Money?

Personal Finance