A New Meaning To The Phrase "dream Job"

Ask your child what they want to be when they grow up and the responses could range from “fireman” and “doctor” to “Bill Gates” and “Kobe Bryant”. Most of us parents would smile in amazement at our young prodigy and think to ourselves “that’s cute”. Have you ever thought to ask your child how much they think they’ll be able to make when they graduate from school?

According to a Teens and Money survey done in 2007 by Charles Schwab, teens think that they will be earning an average annual salary of $145,000. It may surprise you to know the average annual salary is closer to $45,000. More importantly, it would totally surprise your kids to learn that such a large gap exists between their perceptions and the reality. As a parent, you should be asking yourself something right about now… is my child prepared for the financial realities of life?

There’s nothing cute about a child going out into the world ill-equipped to handle the harsh realities of the world that (like it or not) we all have to one day go out and face. There’s nothing cute about unmanageable credit card debt that takes 10, 20 or more years to pay off; there’s nothing cute about going into retirement or facing a life-changing situation without any money for a cushion; and there’s nothing cute about the despair and humiliation that can occur when facing foreclosure. Though most parents could never imagine any of these financial perils associated with their children, it is an unimaginable possibility (or even probability in some cases). Think about it this way: if you didn’t learn about saving, debt or credit, how will you know how to handle anything about those areas? Same goes for your kids: if no one teaches them, how will they know?

You have the power to help your child succeed in their financial future by helping them attain the financial knowledge they need. Share your financial experiences with them, teach them what you know, learn what you don’t know, and then teach it to your child. The alternative is for them to keep dreaming about an unlikely $145,000 job.

By: Marlena Jareaux

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For further information that can help you teach your child about finances as well as money-saving tips that can perhaps make your financial life a little less hectic, check out the book "26 Financial Things to Teach Your Parents". Visit www.26thingstoteach.com, or email marlena@26thingstoteach.com