“Example is the school of mankind, and they will learn at no other.” — Kurt Herbert Alder

One of my most rewarding experiences as an adult was teaching business skills to a classroom of eager third graders through Junior Achievement. I would volunteer again if I didn’t travel as much as I do now with work.

Kids learn by example and they mimic the habits and views of their parents. Good money habits start at home but often times this is an area where even adults struggle. This is why programs like Junior Achievement are so important.

I remember back in fourth grade we learned how to be business owners. We each had to develop a product, taking into consideration the cost of making the goods, and then set our price based on a desired profit. My “product” was a butterfly magnet. I’m sure I had to do some heavy discounting to sell out and quite honestly can’t remember if I made money but the experience stayed with me. Strange… but I believe this brief week in fourth grade is what set me on this obsession with being an entrepreneur. Thirty years later… it’s still a goal. You can read more about that here.

Anyway, on Sunday, Kathy Kristof in the LA Times wrote about a grant from A.G. Edwards that enables children to learn how to save and invest through innovative programs at museums and schools around the country. She writes, “This new effort is aimed at a group who may be too young to even have an allowance. Still, the company thinks it can get third-graders to work through a budget ” a concept that flummoxes many 40-year-olds ” and teach them to save for long-term goals.”

“Money skills are best taught at a tender age. This is when you teach kids concepts like brushing their teeth and eating their fruits and vegetables. That way you establish healthy habits that you’ll maintain later in life.”

It’s so important to start early. The article continues, “It’s earning, saving and budgeting, money management, short-term and long-term goals. You can buy something now or save up for something larger later.”

Many adults are still learning those skills. Think what a country of great savers we would be if only we started so at this tender age. I hope to teach my kids some day.