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Profitably Speaking
Back to School
Am I the only person who still gets excited about going back to school? No, I am not currently a student at any University, but the season of back to school brings back many fond memories: Who will have the newest and nicest Trapper Keeper? How good will you look in those new gym shoes? What will the pretty girls wear? Oh and then there’s the first day lunchroom experience. I realize there are some who do not share the same excitement of going back to school. Some children do not get to experience the fun of wearing new clothes and new shoes, and if they do at what expense? Many have used funds that were purposed for other things such as rent or car payments to ensure that our children have a good experience going back to school.
Beyond the “glamour” of back to school, there are a few other things that we need to think about. Summer has ended and we should see a slight diminishing in household bills but an uptick in other bills; school lunches have become way more expensive than when I was there. During my day, I could get away with $2.50 a day on a basket of fries, and lemonade. If I had some extra money of course I would invest in the honey bun ministry. Today, however, these costs can place a strain on the monthly budget of your home. Here are a few ideas you can do now that I believe will help you in both the short and the long view of your financial picture.
Cut off the television. Ok now that you have gotten back up, keep reading. Downgrade your cable to a smaller package or place a restriction on the amount of time your child can watch television. This will reduce your television expense and you can use that time to focus your child on something more productive. Before you give me the side eye, I am not saying children or adults should not watch television. I think that children should spend more time playing outside and doing other extracurricular activities. Let’s be honest, there are not THAT many good television shows on anyway.
Push your child to start a business. Yes, your child can start a business! During their early ages, children are in the most creative space of their lives. Our children only know the limits we place on them with our words and experiences. If we tell them they can pursue and make money doing what they enjoy, imagine what that does for them in and out of school. It will focus them better in the classroom, and it will give them something constructive to do outside of the classroom. We are all born with gifts however; those of us who put in the work to market and distribute those gifts are the ones who see financial and personal success.
Whatever you believe to be true about our current educational system, it is only as good as what we as parents do outside of the classroom. Giving our children the structure needed to succeed is not the role of the teacher, but of the parent. These simple things listed will help create the environment your children need to become hurt them. These tips work for anyone, in any socioeconomic condition. If you do not believe me, look at all of the CEO’s and Athletes that have come from both wealthy and poor backgrounds. It is not the background that determines the outcome, but the focus on the end result.
Winfred Burns II is the CEO and Radio Personality of the Global Drive Radio Show on The Bold Movers Network. Winfred is a Financial Coach who desires to see 10,000 families live debt free. He travels the country as a Minister and speaker. Contact him at: [email protected].