June 4th, 2010 
Emily Young 
A first-grade teacher at the Dayspring Academy in Port Richey recently made headlines after she taught her class of six and seven-year-olds the basics of personal finance. How long has it been since a teacher made the news for doing something both productive and legal? Carmen Johnson explained, “It’s just a matter of how you show them. A lot of times they’ll understand.”
Suddenly, our generation of impulse buying minions lowers our heads in shame. How is it that we have fallen so far off course and amassed a lifetime of debt? Why not blame our first-grade teachers? I don’t know about you, but in first grade, I was learning the three-legged relay and the joys of watercolor leaves.
Practice Self-Control
Maybe an early education is the answer to responsible spending. Personal finance may seem like a complicated subject, but in essence, it’s just a matter of learning self-control so that you can take responsible steps towards saving money. The less you spend week to week, the more you can save for the long-term. The more money you save, the more money you have for major purchases and for a protective “net” when times get rough.
Perhaps taking a child’s point of view of finance can enlighten us on how we can improve our own lives. That’s right, this is that all important first-grade lesson you missed out on. Better late than never, right?
The first thing we must emphasize when teaching children the quality of self-control is that you can have the things you want—whatever you want—you just can’t have them right now. Let’s analyze some of the most common impulsive purchases for middle-class and lower-class Americans. We have new gadgets (like TVs, GPS systems and iPods), automobiles, drinking and dining out expenses, Internet retail products and entertainment.
Take a “Time Out”
One important lesson we can learn in cultivating self-control in personal finance is to wait for the things you really want. Do not get so caught up in advertising, peer pressure, and local competition that you forget that all good movies come to Netflix (or cable) within a few months. Movie popcorn and cocktails are cheaper in stores than in theaters and restaurants. As for video game systems, electronics and new gadgets, do you ever notice how the cool new product you bought one year ago usually sells for 60% less after the peak season ends?
The major misconception here is that you deprive yourself of good things when you spend responsibly. Wrong! (As your first grade teacher reminds you.) You are just waiting to play with your new toy. Think of it as a self-sentenced “time out.” The answer to financial management and a responsible, debt-free life may very well be learning how to watch other kids play with cool toys before you do!
Learn the ABCs of Personal Finance
Another major problem in personal finance is a lack of budgeting concern. The majority of spenders today don’t give much thought to budgeting, credit, home loans or other financial aspects. They keep a general estimate of how much they have and avoid bouncing checks. You can’t live like a celebrity when you’re living on a weekly paycheck! Here’s the real answer to your debt problems: you need one of those amazing first-grade teachers to guide you to financial responsibility.
Why not use a personal finance service like Quizzle? Whereas most of the population continues to be ignorant as to their budget, Quizzle users can keep a close eye on their finances by accessing a free credit report, a free credit score, home value estimates, home loan recommendations, budget planning tools, personalized finance advice, a credit personal trainer, credit monitoring service and identity theft protection.
The basic concept of Quizzle is that you have a financial teacher watching over you, keeping you up to date on all of your spending habits. Whether you are dieting, working, exercising or training for a skill, the same principle is true: sometimes you need another person helping you reach your goals. That positive peer pressure is a powerful motivational force. Quizzle isn’t just a service—it’s your personal finance mentor, a teacher that keeps you grounded in reality and financially strong.
We may have gotten a slow start in our life, thanks to those trippy 1970s and 1980s commercials that assured us credit cards were all you really needed. However, it’s never too late to learn financial responsibility. Let Quizzle be your teacher… but please, no need to send us any apples.
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Tags: Finance, Personal Finance