|Is Your Teen Graduating with an ‘A’ in Personal Money Management?|
|News Releases - Education & Schools|
|Written by Ginny Grimsley|
|Thursday, 25 April 2013 13:03|
3 Important Lessons They Don’t Teach in High School or College
More high school students than ever will be collecting diplomas in the coming weeks, an increase attributed in part to new career-oriented schools that help students appreciate the link between learning and earning.
“After 40 years, we’re finally seeing significant improvements in high school graduation rates. The national average shot up from 72 percent in 2001 to 78 percent in 2010,” says retired business executive Cary Siegel author of “Why Didn’t They Teach Me This in School? 99 Personal Money Management Principles to Live By,” (www.carysiegel.com).
“While it’s wonderful to offer initiatives like career-prep schools, I worry these new high school and college graduates won’t have a clue about how to manage their paychecks.”
Siegel speaks from experience. Even after earning an MBA from the University of Chicago, he realized he knew little about how to best manage his personal funds. Setting financial goals helped him establish some basic principles, a trial-and-error process that was ultimately successful: He retired at age 45 after a marketing and sales career that included introducing new products like Crystal Light and Jell-O Light for Kraft Foods.
“I wished I’d learned these things in school – I would’ve made fewer mistakes,” he says. “My main goal was to retire early enough to spend time with my kids while they were still young, and I was able to do that. It’s not because I’m rich; I’m not! It’s because I learned how to effectively manage my money.”
All high school and college grads should leave school armed with that knowledge, says the father of five teenagers ages 13 to 17.
He offers three of his favorite tips:
About Cary Siegel
Cary Siegel is a retired business executive. After earning his MBA from the University of Chicago, he began his career in brand management with Kraft and went on to lead several companies in marketing and sales. He wrote “Why Didn’t They Teach Me This in School? 99 Personal Money Management Principles to Live By,” whydidnttheyteachmethisinschoo
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