Young girls learn financial empowerment lessons

Over 200 mothers and daughters were encouraged this weekend with news of empowerment and the freedom to lead financially successful lives by well known author and entrepreneur Sharon Lechter. Sharon spoke for the National Charity League in Phoenix, a group of mothers and daughters working to empower young women and teach them community values. Praising the young women in the audience for making the choice to attend and put their financial futures first, Sharon shared with them that their future is based on the choices they make one day at a time. Not understanding how to handle money leads to poor choices which leads to where the current economy finds itself. Explaining all about liabilities and assets to the group of 12-18 year olds, Sharon walked them through how the current climate isn’t based on fundamentals, but rather on fear. People are seized by fear of the unknown. How to get around that fear is to focus on what you can control – yourself. “Save” is a four letter word that should be used and in everyone’s vocabulary. Sharon also recommended instituting the “two-minute” rule to decrease impulse purchases. If you still want it after two minutes you can buy it. Chances are, there will be some things you re-think. Learn to handle your money or it will handle you. Money management is like learning how to ride a bike – you learn by doing. Sharon encouraged the mothers in attendance, that when it comes to money, let their kids stub their toe at home rather than breaking their leg on their own. Small steps like the pre-paid debit card that YOUTHpreneur offers is a great tool for experiential learning. Instead of giving them money each time they ask pre-budget an amount, put it on the debit card and let them have control of how it is used. Once it is gone it is gone until the next “payday.” Sharon encouraged them to get a job or start their own company to give them the opportunity to earn their own money. Get the YOUTHpreneur BIZ Kit, which is a tool to walks kids through the steps to start their own businesses. With 85% of consumer purchases being made by women, there is not a better time to put focus on your finances.