Financial Education Essay

Financial Education Essay Financial Education Essay Annotated Bibliography Classon, G. S. (1988). The Richest Man of Babylon pg. 34-52. New York, New American Library In this section of the book the author is discussing the seven cures for a lean purse. These were the seven cures that caused Babylon to be one the richest cities in the world at the time. Kiyosaki, R. (2008). Increasing your financial IQ.pg 17, 19, 28, 177: Grand Central Publishing In pages 17-28 the author talks about how many people hope the government will solve their financial problems, then he goes into the five financial IQ’s which are making your money, protecting your money, budgeting your money, leveraging your money, and improving your financial IQ. On page 28 he explains the cash flow quadrant which is the four different types of people in business. Later in the book on pg. 177 he explains how financial advisors are giving out advice to people when they are not financially educated themselves. Kiyosaki, R. O. (2011). Unfair Advantage.pg. 29, 41: Plata Publishing, LLC. In page 29 he talks the popular dogma that we have been telling our kids since they were young. The author then says this advice is out dated and is not a good mindset to have in the information age. Times are changing and what we are outing in our children’s heads needs to be changing with the times as well. On page 31 he explains the five main components of financial education and why they are so important to know before leaving school. On page 41 the author talks about having a high financial IQ allows us to have the ability to realize that normal financial advice is bad advice. Kiyosaki, R. O., & Trump, D. (2006). We Want You to be Rich pg. 230, 246. : Simon & Schuster Audio On page 230 Robert Kiyosaki talks about why most people are taught to work for money when people should be learning how to have money work for them. he talks about how our school system teaches students that making mistakes is wrong but fails to teach us the value of learning from mistakes in life. On page 246 Donald Trump talks about how financial education should be a life long skill that can’t be neglected. Kiyosaki, R. (2012). Who Took My Money pg. 50. : Plata Publishing, LLC. In this book on page 50 Robert Kiyosaki talks about how his banker has never asked him for his report card, instead he asked to see his financial statement. This is the reason why knowing how to read a financial statement is important and essential in life. Aaron Sydow (interview) â€Å"Knowledge is not power, it’s only potential power. It becomes power when backed by definite plans of action, backed by desire and faith mixed with emotions.† â€Å"Our school system is not preparing our kids for real world situations when it comes to handling money.† â€Å"Our children are going to suffer in the future once they leave school. I barely knew how to properly balance a checkbook when I left school, much less know anything about how important credit is in today’s world.† â€Å"Our school system needs to start teaching basic principles about money, credit, assets, and liabilities before leaving high school.† Theses were some of the quotes Aaron shared with me during our interview. He noticed a difference in his life because of the lack of his financial education when he left high school, so when he came across this information he realized how important it was and wished he would have learned it at a younger age. Financial Literacy Facts. (2011). Retrieved from https://moneyu.com/financial-literacy-facts This website shows many statistics on how financial education is lacking in the