The Myth of the Living Wage
One of the biggest secrets is that when businesses are staffed by minimum wage workers, prices are driven in large part by the minimum wage. When the minimum wage increases, prices increase in lockstep.
Month: September 2010
Who Are You Working For: Group Question
There are probably activities we do every day that we should avoid doing because they enrich others while leaving us tired and less well off. When you exchange your value (either the value of your time or your efforts) for lesser value or worse–negative value, you are allowing yourself to be taken advantage of.
Who Are You Working For?
I believe in hard work. But I try to be selective about to whom I work and I expect to be justly compensated for that work.
Water Works – Managing Personal Cash Flow
In every household, there is income which consists of the water source and a set of expenses that serve as a drain. Most people have a drain that is large enough to drain the bathtub nearly as fast as the water flows into it.
Book Review: The Richest Man in Babylon
The Richest Man in Babylon by George S. Clason is a collection of very readable and interesting stories which teach fundamental financial lessons. The wisdom gained from reading this simple book is a great primer into the fascinating world of personal finance and investing.
Should young people see a financial planner?
The value of a financial planner to a young person depends upon how someone defines a young person and what kinds of services that financial planner is commissioned to provide. Unfortunately, too many financial professionals are salespeople rather than trusted educators.
Student Loans: The Albatross around the Necks of Young People
The purpose of this site is to help young people avoid costly mistakes early in their financial lives. One of the biggest mistakes a young person can make is to burden themselves with huge student loans.
Making Monopoly Better!
From an early age, we are taught the wrong things about money and business. Consider the very popular board game Monopoly(R). In a world of Robber Barons and at the genesis of Scientific Management as a management science, it is possible that a strictly win-lose game is an accurate teaching tool about business. To me, this is a grossly inaccurate way to teach young people about business in a Knowledge Economy, where success is much more about fostering cooperation, sharing ideas and mutual success.
Why I am here
Why should I undertake something like this? It’s a challenging answer. It is important that you folks know that I have never attempted to do web hosting/web development before. And, honestly, just to get this far required vast amounts of learning. This learning will only be multiplied going forward. I’m excited by this though. I …
Welcome to YouthFinancialEducation.com!
If you are a parent, we will work with you to help you empower your children so they make financially smart choices. If you are a young person, you will find this forum a great place to learn from others, interact and develop skills that take most of us years to develop–if we ever do.