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Learning About Money and Finance

We aren't born knowing about money. Like so much in life, at some point, knowledge of money and investing has to be learned.

TEXAS, USA — How much did you learn about money when you were young? Did you learn from your parents? Did you learn in school? Are you self-taught? 

These are all fair questions.

The truth is the later you learn about money and investing in life, the more expensive that lesson can be. Two things that used to be taught in public schools were basic money management and civics.

According to Financial Advisor, Rolondus Johnson, some schools are still working on it. He told 6 News, "I know that at Woodway and Midway they have “Financial Literacy Month. I think it is amazing that they talk about credit and debit cards and the difference between savings and checking accounts. And so those things are amazing but the average adult that usually comes out of high school or college they don't really, they don't know much about money just in general."

Johnson says there is a lot to learn about money, especially when you begin to start talking about investments and saving for your own retirement.

A great thing to do is ask questions and learn. If you want to learn how to live in a mansion, don't ask a guy who lives in a cardboard box how to do it.

 Johnson explains, “And you see them and they are rich, and they are powerful and they are wealthy, then you start to say, ok, they did it this way, let me see if I can take some of their habits and incorporate that into my lifestyle."

Johnson says the more that you can learn and change your lifestyle and habits it inventively will benefit your family and your children’s lives down the road. 

Johnson told 6 News, "Yeah, as you learn, I definitely encourage teaching your kids, they are never too young to start learning money habits."

Johnson is a prime example of how he and his wife have teamed up to benefit his family for decades to come explaining, "When I started learning different things that money could do, and just the power behind money and just what you could use it for and the tools of what you could use it for. I immediately started teaching my wife and she immediately got the kids involved with it. I wouldn't say well versed, they still want to buy, they still want to do those things but they know and understand if they save for [what they want].”

According to Business Insider, research shows that most habits around money are set by age nine, so it's key to start teaching early.

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