Graduation season is in full effect. The biggest question on our minds right now (besides how long is this graduation, man it’s hot) is what gift should we give to this graduate? Money for college? Gift card? Laptop? Trip to Europe? A car?
Perhaps the best thing we can do for them is to teach them about money.
Although they just spent these past 13 years in school, the one thing we do know for sure is that none of those 13 years of learning were utilized, even for one single day, to teach on the matter of how to manage money. No mention of how to balance a checkbook, or even how the banking and monetary system functions. No mention of the importance of a budget. No mention of the power of compound interest and why it’s important to save and invest. Any lessons being taught on insurance? After all, medical and auto insurance are now required by all to have, but does anyone explain how the insurance actually works? The types of coverage or what a deductible is?
While our children would much rather have an iPhone (although chances are they probably already have one), or a MAC computer, or that car. Perhaps in the long run, they and society as a whole would be much better off if we actually stopped to teach them how to manage money. Teach them how they can purchase these items for themselves, instead of giving it to them but not giving them the knowledge needed to not only acquire these things on their own, but more important that than that, to be good stewards of the things that God has given.
Or just take the easy way and stick a $20. or a Starbucks gift card in their card.