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I know you don’t technically need one but I was wondering what kind would help. I want to someday own a clothing store and I want to know exactly what I’m doing when I go into it with money management and knowing whats going on with everything. I don’t want to be in school forever and I was wondering what kind of degree in business would help with owning a business.

I’d say business management. You don’t need a degree to run a business, but from what you’re saying you want, I’d say that.

Why should you teach your employees the importance of personal financial management????What are some creative ways of doing this????

I think that when you teach people the importance of personal finance management it makes a better work enviroment… It also helps keep stress out of the work enviroment…
CAN SOME ONE PLEASE HELP ME EXPLAIN UGH

It’s no secret to anyone that Americans have accumulated high personal debt with less than wise spending in the last several years. Savings have been down and debt high by most measures available. The recent economic state certainly has changed consumer behavior and helped surface a real need to pay down debt, save more and spend wisely.

Debt, in my view, is crippling. The loss of a job or the need for extra cash at the time of an emergency are real circumstances for people. Debt clogs us up. It hinders us. It weighs us down. It enslaves us and it simply makes us inflexible to maneuver through these circumstances.

Where do we begin to change the trend? Sure, uncontrollable forces such as the economy that I mentioned will help, but surely there is more. Public schools are making the move to educate children on money management fundamentals and build personal finance curriculum. These children are our future leaders. They are the business owners and the family CFO’s.

It reminds me of years in playing soccer and loving the sport. It gave me the opportunity to see and think about what would change soccer in America forever? How would America become a competing powerhouse in the World Cup? It starts with the youth, right? You give them the best coaching and play them against the toughest competition and the future of soccer in America can change.

But, what do we do about the people like you and me who are in the working force today. Our personal finance education may have been minimal in our youth. Unfortunately, most families don’t train up children in this area. So for me it became a passion to learn more about personal finance when life got serious (marriage, children, etc.). My passion grew more and more and so much that I love to coach people today in money management.

In a recent article from the Harvard Business Review titled, “Teach Workers About the Perils of Debt”, experts found that employees are quite uneducated when it comes to personal finance. Surprise, surprise, you might say. Well, companies might be missing the boat on this one if they aren’t moving to include more educational tools (outside of the 401k/retirement) to help their employees.

“In light of the money consumers are pouring into credit card fees and interest payments, wouldn’t it be wise for companies to put some effort into improving debt literacy, rather than focusing workplace programs exclusively on retirement savings? Piling up credit card debt at rates of 18% or higher while investing a small fraction of weekly pay into a 401k may not be the best way for an employee to achieve financial well-being.”

But doesn’t it go beyond financial well-being? If employees are better at managing their money, perhaps they’ll be better at managing company resources. Perhaps they will carry with them less stress to the workplace which certainly impacts their ability to perform at the highest level. These are just my theories, but I think would be worth trying to measure for companies.

One of the things I’ve always been trained to do is to manage the company’s money like it were mine. But what if I’m drowning in debt and spending recklessly? “But I don’t have much financial responsibility at my company”, you say. Really? The smallest matters count. Are you wasteful with office supplies? Yes? Then you aren’t managing resources wisely and perhaps money management education could help.

This is a great opportunity for companies today. If they care for their employees, or provide them the instruction to better manage their money; I believe people will be able to give them more in return. Basic courses in budgeting and debt reduction in addition to the retirement planning would be a great start.

1. How does it teach money management?
2.How does it teach responsibility?
3. About what percent of children work hard to earn money?

1. They will now have their own money and if that money is for specifics (toys, movies, gifts for parties etc) they will have to save enough aside for that ie. manage it!

2. It helps teach the work ethic and that alone is a responsibility. You work for payment. You are responsible for those jobs or you miss being paid.

3. This is not something that’s recorded and would differ with each country and age group – here in Australia, I would guess, no more than 5% of children 5-15 years of age work "hard" to earn money.

Life lessons such as simple things like writing a check and paying bills and money management and things like simple everyday things that will have to be done when you are out on your own.

I think you mean Life SKILLS….

This site has a plethora of lesson plans with teacher resources:
http://www.workshopsinc.com/manual/

This site has several great lesson as well. It levels its resources by age group:
http://www.goodcharacter.com/

Good Luck….

whats going on guys,
I just have a real simple question, however I do get confusing answers. Im 23 y/o and Im just looking to live by a set a rules where I can better monitor and manage my money. A book or maybe a DVD or a website you guys know of that touch on the subject money management would be greatly appreciated. Thanks

luis

I have never seen a budget system on line. Try it in your search engine. I have always set them up on paper. A budget, to illuminate your mind of where your money goes is an important first part of managing money. It is an evolving thing, as you get more information, and as you start to to look for the ‘leaks’ it becomes better refined. Once you know where your money is truly going (or in many cases blown) you can start to fix it. Things like setting aside your money for fixed overhead and savings first… then allocation money to optional spending and other necessities can take place.

It is amazing how much money you just blow… and have no idea where it went! Once learned you can make the economizing decisions for the balance of your life.

Soccerref

I’m new to trading. I’ve taken a class in options trading and am reading everything I can on trading, timing, money management etc. I want to start out with a sizeable account ~$20,000.00 so I won’t get knocked out quickly while I’m getting the feel for the market. Is it possible to get a loan for these purposes? Since stock trading can be considered a business does anybody know if there is a small business-type loan for stock trading purposes. Any help would be of great help. I know I will be able to perform well in the market. But it is difficult to save a sizeable trading account when you have bills, mortgage etc. Thanks

I would say..Don’t Do It !!! By taking a loan, you are already down the interest you will have to pay back. And if the market goes flat and you take losses, then you will being paying back a loan for nothing. Never invest on a loan.

I know you don’t want to hear that, but it makes no finacial sense at all. Get a second job and invest your earnings. If you have a 401 K plan at work and it matches your contributions, use that first (that’s a 100% return right there) there are plenty of ways to do this without taking a loan.

Even though we are in a recession there are some good things to learn from it. I think one of the most important thing is proper money management and saving, we live in society that is so materialistic. Now with the recession people are actually using budgets and cutting back. Another good thing about the recession, it pays to be nice to people in general. You never know if someone has the ability to get you a job interview after you have been laid off or help you get back on your feet. Finally, people are realizing how important family is to them. What are your thoughts?

i totally agree with you and luckily i have not been laid off nor has my husband. i have needed two jobs just to make it anyway which is sad but whatever.
i am going to pay off the last bit of credit card debt i have and make sure i have money in the bank in case the worst happens.
i agree and it is going to be refreshing for me not to feel bad if i have to buy a used car and not feel that someone else is better than me because they drive a BMW or Audi. I"m going to think about the BMW drivers and how they can’t afford to pay the mortgage on their vacation home ’cause there’s no more Bush in office and i’m going to say BOO HOO too bad they can’t buy themselves a third car this year or fly to the Bahamas for spring break.

I am seriously thinking about becoming a professional poker player one day but I am starting really early, at age 19, next year. The gambling age here in NY is 18 and Canada is 19. Anyone got any tips or advice on doing this like money management, or anything thing involving being a poker player.

Money management is something I pay close attention to. The SNG tournaments are easy to manage and will never drain your account as fast as a cash game. You need about $500 for $20 SNG tournaments and $1500 for $50 SNG tournaments. For cash games you about $300 just for .10/25 tables and maybe $2000 for .50/1 tables. I tend to play for higher stakes only when i have absolute focus. The bigger tournaments are for established pros who know their odds of winning. You will need to be winning around 30% at the lowest stakes tables and 5% at the highest stakes to be a winning player.

If they had learned money management when they were young, they would:

1) See the foolishness of Obama’s "plan"
2) Have money to buy whatever insurance/other promises Obama is making them.

Will liberals wake up before its too late?

*sigh* Just like the Bush supporters thought it was a good idea to spend 3 trillion for a war. You say tomato I say, well you know the rest.

I am planning on going to a school in Oregon. If I am able to get the resident’s tuition, I already have enough saved to pay for that. My boyfriend is a firefighter so he will help, too.

I have always been excellent with money management and I am doing a lot to live as green as I can and don’t buy disposable products so that helps. However, I do eat organic which can be pricey but I’m not willing to give that up.

What are little things you can do to save money?

I don’t understand what living "green" has to do with saving money or being on a tight budget. As a matter of fact, in many ways living "green" is more expensive than living otherwise as you point out when buying organic food. Alternative "green" sources of energy are typically twice as expensive as traditional sources.

As far as having a tight budget, I have always lived under a tight one whether I needed to or not. During "good" times I would save more and during tough times save less. But I always tried to save. The key is not to buy things you really don’t need and not to live extravagantly unless you deserve it and can afford it. Buy things you only truly need and buy them on sale.

As far as living "green" it’s OK to conserve and use less energy. Turn the thermostat back, drive less and more efficiently carefully planning your trips, use only fuel efficient cars. But solar power, wind power, ethanol, organic foods, etc. will all cost you more than traditional products.