"10 Commandments of Personal Finance ....For Young People
Part of ICFE's new "Money Skills Kit"
for parents, grandparents and
Institute of Consumer Financial Education, (ICFE) San Diego, CA
|1) Manage your your
expenses so they don't exceed your income.
2) Spend money thinking of your future as well as your
3) Begin saving early to take advantage of compound interest.
4) Avoid collecting credit cards and using them for borrowing.
5) Always honor your debts and other financial obligations.
6) Project your income and expenses for the next 12 months and track
7) Focus on the relationship between the risk and projected return
8) Maintain organized records for tax and general financial planning
9) Have a plan and a purpose for your investing.
10) Obtain a financial education to be in a position to make
intelligent financial decisions.
The nonprofit Institute of Consumer Financial Education (ICFE), based in San
Diego, CA., makes available a "Money
Skills Kit" especially for parents and grandparents which was designed
to help adults teach young people about money and values. The "Money Skills
Kit" includes a reprint of the article "18 Ways to teach your children or grandchildren
the value of money," The 10 Commandments of Personal Finance For Young People
in 2001" and a report titled "Allowances? Work? Or Both?"
The "Money Skills Kit" is available free on the Internet at the ICFE's Web
site: http://www.financial-education-icfe.org. Those parents,
grandparents, teachers and consumer educators and interested others without
Internet access may receive a copy by return mail by sending $1 and a self-addressed,
stamped envelope (with 34 cents postage) to: ICFE "Money Skills Kit", PO
Box 34070 San Diego, CA 92163-4070.
For more information contact Paul S. Richard, RFC
ICFE Executive Director at 619-239-1401.