Not long ago, I was about thisclose to having to file bankruptcy. Yeah, I know. I was pretty depressed about it, but it can happen to anyone, especially if you don’t have a healthy relationship with money at the outset. However, I was fortunate enough to begin to apply the lessons I’d learned from studying business in college in order to not only improve my financial literacy but to also pay off a little more than $250,000 in debt. I’m sharing my experience with you in hopes that you can avoid the pitfalls that almost ruined my life.
If you're at a crossroads, take some time for self-reflection and consider the pros and cons of a move in either direction. What might be right for someone else, may not necessarily be right for you. If you're going to go DOLO (do your own thing), make sure it's the right decision for you. You only live once, so live your best life.
Generally speaking, most small scale ventures can be used to teach your kids about entrepreneurship and develop key skills that will be useful for the rest of their lives. Financial literacy is a necessary life skill that can significantly influence the fortunes (pun intended) of the youth and help pave the way towards financial freedom.
Look, nothing against your parents, but face the facts - they lied to you. If having a great future were as simple as going to school and getting good grades, we wouldn't have overpopulated prisons and homeless school teachers living in their cars. Give your kids the opportunity that you wish you'd had: teach them about entrepreneurship and financial literacy so that they can have the future they deserve.