How do babies learn to swim? By being plunged under water and letting their instincts take over.
For some people, he says, diving into debt makes sense, if it’s for a financially sensible purpose like purchasing a first home. “They know why they are underwater, had planned to be there and are confident that they will be able to surface at the end of it.”
Read: Learning Personal Finance is Like Learning to Swim.
Learning (and breaking) the rules
“The basic rules of personal finance won’t change your behavior. You have to adapt those rules to your situation.”
That’s the premise that underlies this article in the LifeHacker Two Cents blog about the most important financial skill you can have - resourcefulness. Resourceful people look for opportunities and bounce back from adversity.
This trait will take you through whatever financial situations you encounter – including the many that don’t fit neatly into the rulebook.
Read: The Best Money Skill Has Nothing to Do With Math. It’s Resourcefulness.
The best time to learn
The teen years are a prime time to get kids excited about saving, and these financially savvy kids turn into successful adults.
Though parents may not feel equipped to teach their kids about money, there are many resources available, and this U.S. News Money article has some helpful suggestions. Just remember, they point out, that kids learn more from what parents do than what they say.
Read: Why Teen Savers Have More Financial Success Later in Life.
Money can be fun
For younger kids, turning money lessons into a game is an effective way to get kids excited about mastering financial skills and concepts.
The Today Show compiled their list of the 5 best money apps for kids, including a virtual bank, a game show, and one inspired by Candy Crush.
Read: Teaching Financial Literacy to Children: 5 Best Money Apps for Kids.