| We all know them - people who are ALWAYS | | | | other avenue - self help. This can be via higher |
| crying poor. They could win the lottery and within | | | | education or through self-education. If it is through |
| a few short years they would have their hand | | | | higher education then the education stream may |
| out again. Some of us are married to them. Some | | | | or may not have financial units at the forefront of |
| of us have them as parents. They come in the | | | | the learning curriculum. |
| form of sisters, brothers, friends. But they ALL | | | | The ONLY way that most people receive a |
| have one thing in common... | | | | financial education is through self-education. And |
| "Can you lend me a few dollars/quid/rupees until | | | | that is where the biggest problem occurs. Many |
| next week?" | | | | do not bother. They think that if they work hard |
| And next week comes and goes and that person | | | | then everything will turn out alright. |
| does everything possible to avoid you. It's | | | | Enter the twin demons of taxation and inflation. |
| embarrassing to ask for the money back. They | | | | These two combine to eat away at every |
| don't care, or maybe they do but they are so | | | | person's wealth. |
| hopelessly out-of-control financially that they are | | | | Then we have the syndrome of those who just |
| already lining up their next mark. | | | | cannot see any benefit in educating themselves. |
| So, why are these people such hopeless money | | | | Then there are those who simply do not want to |
| managers? | | | | work at all. They find it far easier to live of the |
| First, money management is NEVER taught at | | | | generosity and pity of others. Until these people |
| ANY school. It's not on the school curriculum. | | | | learn to "fish" for themselves they will always be |
| Governments do not want it taught. | | | | asking or pleading with others to do the fishing for |
| Next, many people have NO role models or | | | | them. |
| mentors. If parents are poor money managers, | | | | Self-education is the power behind every person's |
| chances are relatively high that their children will | | | | ultimate wealth base. To remain uneducated in the |
| be too. | | | | ways of finance and financial matters is to be at |
| Therefore, if money management is not taught | | | | the mercy of those who are educated in them. |
| at school or in the home then there is only one | | | | |