Image via Wikipedia"A winning effort begins with preparation," Former head coach of the Washington Redskins, Joe Gibbs, said this and I have found this to be the truth. My goal in this article is to give parents and their students information that can be used to prepare to win. Henry Ford said," Before everything else getting ready is the secret of success." Below are several things that parents and their students should do to prepare for life after the tassel has turned and becoming a responsible citizen is the next step. First my story: Parents have to realize that all that our young adults learn about money, saving, spending, and giving, comes from what we teach them. Not so much of what we say, but what we do is what we teach our children. Even if you are not that good with your money there are several books on the subject and the public library is free. I have seen so many irresponsible adults in my careers in mortgage refinance and car sales. These jobs gave me access to people's very personal finance management skills, via their credit reports which are necessary to refinance a house or buy a car. I saw how those who were wise with their spending and use of money got the best and lowest finance and interest rates. You would think this is a no brainer, but truthfully we can only do what we know. I had clients who were anywhere from $30 to $75,000 in credit card debt without a job, just living off the credit cards and about to lose their homes. I've had clients with two and three repossessions of their vehicles, but desperate to have a car they were willing to pay 26% interest basically paying for the car triple what it is worth. These were people of varying ages, unable to get a job of any significance because they had no marketable skills, and there were those who made significant incomes upwards of $100,000 and because they had not learned about money management they too were in debt and could see no way out.
This helped me since I had been a stay at home mom for many of the 20 years of my first marriage that began at age 17. I was now divorced and seeing me in many of my clients. My former husband was in charge of the finances and I like most of my clients had not been taught money management skills or better put, life management skills as a young person before or after I left home. I also had two daughters who were then in middle school and senior high school. I had to teach them at least so that they did not experience what I saw in so many of my clients. I can offer this information because I have experienced it and now I am blessed and I am so proud of my two daughter's one who is now 21, working on completing her college degree, working full time, and recently purchased her first new car where she received 5.14% interest as a first time buyer, the second who is an 18 year old class of 2010 high school graduate, just finishing her 6 months basic training and job training with the U.S Marine Corps, and recently wrote me to tell me that she has invested most of her salary in a CD (Certificate of Deposit) she is more than 1,000 miles from home, alone and she is handling her future today. The two of them also having both worked since the age of 16, a decision I made on purpose, have decided that they would like to start their own partnership in a business of their own. There is no greater reward than to get up everyday with your dream as your purpose. I am very proud and would love to share with you and your students what I have taught my children.
My newsletter will be very helpful for all ages. Please contact me to schedule your consultation and receive a free newsletter with 10 things parents and their students should do now, especially those in 11th & 12th grade right now. I have also added a free link below to 6 tips on teaching your kids about money. There are several sub-links with-in the article that you will find very useful. Enjoy and I look forward to assisting you and your student these are great times,however as you enter adulthood, if you have prepared (planned ahead of time) when you look back 5,10,25 years from now the results you see and the success you have attained will be worth the work put in today. Confucius a wise philosopher said," Choose a job you love and you'll never have to work a day in your life." Good luck and much success.
Denise S. Woodard, Proprietress
301-712-0591
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