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Saving Money

Category: Books | Age Group: 16+

TOPIC:

Saving Money

RESOURCES NEEDED:

The Wealthy Barber: Everyone’s Commonsense Guide to Becoming Financially Independent, by David Chilton. The book can be purchased at most book stores as well as through online book sellers. It is also available for loan from most libraries, including the school library.

LEARNING OPPORTUNITY:

David Chilton’s book The Wealthy Barber has a simple approach to building wealth and works for all income levels. It offers good, practical advice throughout the book to show ways of saving.

THE ACTIVITY:

One of the key ideas suggested in The Wealthy Barber, is to “pay yourself first.” Over a meal, discuss with your family what this means. How do you go about doing this? Why is it important?

TIPS:
  • Go to a branch of a financial institution, or go to an online site with your teen and open up a savings account to “pay yourself first.”
FOLLOW UP IDEAS:
  • Borrow or purchase the book. Sit down together and take turns reading out loud and discussing the concepts as you go. Each of you can make a plan that follows the advice of The Wealthy Barber. Share your plan with each other so you can support each other in reaching your goals.
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