Spending Away Your Future

The Center for Debt Management categories debt as “spent future income.” If you’ve accumulated enough debt, you may be spending years’ worth of future income without the benefit of directing it toward new, opportunistic ventures. In fact, just not having a good cash flow because you have to direct so much of it to debt may mean you’re missing out on even more income through lost opportunities. It can be a vicious cycle once you’ve treaded down the path. While some of us may have already made our mistakes, we can still take the opportunity to help our children avoid them. Most of that battle is education. It’s especially important we push for more financial literacy in our schools. Next month kicks off National Financial Literacy Month, and we’ll be continuing our efforts to push for better education in school. It’s shocking how little there is of it, especially when it may be one of the key bits of knowledge a student will retain and use throughout their adult life. What are you doing to help promote financial education in schools, and teach your children at home? Think of ways you can jump in the battle or feel free to contact my team and I to learn how to help us! Let’s make sure our children aren’t spending away their future.