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The public school system in America is a dinosaur and the Ice Age is not far off. With all of the advances we’ve made in technology and as a society in the last 50 years, it’s ludicrous to see our children being educated in the standardized system used 50 years ago. The influx of parents who are home schooling and the home schooling resources available now versus 10 years ago attest to the fact that parents are fed up.Not only do the majority of public schools not work, but our children are getting less and less education. American children are getting further and further behind their Japanese and German counterparts; and in a time where the economy is global, how do our children remain competitive in the job market of tomorrow?Besides the threat of violence at school, the lack of education going on there, the generally sliding test scores and the lack of alternatives; the economical drain on property tax payers to support this lumbering, antiquated system is phenomenal. Simply put, if all of us had the option of doing something else, most of us would. Private schools, magnet schools or home schooling alternatives are a reality.For some of us though, there is currently no feasible alternative. Many of us simply cannot afford to shell out college-sized tuition starting in grade school. For many more who work outside the home, the time required to start home schooling is a commitment that we’re not sure we can incorporate into our already packed schedules.What is your child really learning at school currently that will translate into success and financial freedom and entrepreneurial skills later on in life? If we all sat down and looked through the graded papers our children bring home and asked, “How does this turn into dollars and cents later on?” the answer would be, “Most of it doesn’t.”So what can you do right now, on the budget and with the time you have to improve the quality of your child’s education?Expand where you’re at.What is your child learning about money right now? Normally we learn early in grade school how to recognize money (what’s a nickel, what’s a dollar), we see math used in story problems where the concept is actually addition or subtraction; and that’s our money education unless we receive additional education in college. For a subject that is so near and dear to our hearts, money is not prominent in most of our educations.This is where a lack of education spells a future lack of funds. You want your child to become a millionaire later in life; or even just be financially independent, you will be responsible for showing them how to think and what to do with money. Setting aside one hour a week to discuss finances with your child would give them so much more of a head start than they have right now. Make it interesting, make it personal, teach them what you wish someone would have taken the time to teach you. Are you paying bills this week? Have your child sit down and watch what you’re doing. Explain the method of accounting you use and what you’re paying for and how much. Are you setting up a budget for the family? Give your child the opportunity to give input on the budget as well as see how it works.If finances are a problem in your family, your child needs to understand money now more than ever. If you’re facing creditors, bankruptcy or foreclosure, why keep your child in the dark regarding the circumstances? If you’re investing for the future or for their college, why not explain what your goals are? Can you explain your own financial goals or why you’ve chosen a specific investment? Can you explain simple stock market terms, what is a certificate of deposit, what is a treasury bond? If not, maybe this is the first step in learning more about your finances – teaching your child. Don’t be embarrassed to start at the beginning; just start.What is your child learning about business right now? For most people’s children, their business education is confined to: trying to explain what their parents do for work, going to work with them one day a year and then getting their first job at 16. They will learn more about business if they go to college with a business major, but what practical, real-world experience are they receiving? Can you realistically expect someone with that limited amount of business knowledge to start and run their own business? How did you learn about business if you own your own?You had to jump in and do it.Whether you own your own business or not, all of us can agree that an education in business is a great way to cover core concepts and grasp a general idea of a topic, but experience in business is priceless. Your child starting a paper route or a babysitting business will teach them on a personal level what coming to work with you once a year would never do.Expand where you’re at. The entrepreneurial spirit that you are growing is an education that your child will never forget. Rather than sit back and watch our children waste precious learning time in front of the television, as a family commit to one hour a week getting an education on money. Go to the library, get on the Internet, find material that excites and inspires you and your child will become excited and inspired about money.Home schooling is a term that really means, “The buck stops here.” If we choose a better quality of education for our children, we have to supplement at home. If we choose a successful mindset for our children, we have to show by example. If we want more for our children regarding money and business potential for our children than we have had, we have to provide them with more right out of the gate.Right now there are more resources available for at-home education than ever before. We have more information at our fingertips than any generation before us. What is our excuse if we don’t use it?
Ultimately, what will give your child a leg up in a global economy and an ever-changing job market will be the confidence you instilled in them and an education than can be calculated into dollars and cents.