A taste of personal finance education in prisons
- You must pay yourself first. Saving is the golden rule in finance, and it’s about the habit, not the amount. Start small then build up, but always, always, ALWAYS save something.
- It’s never too late to start. My mum started investing at 49 years old and is now a self-funded retiree. This always gives women under 50 – which most residents seem to be – hope. There’s no need to panic because you don’t have much money or investing knowledge yet. Time is on your side. Think baby steps.
- You can teach your kids about money. I learned as much from my dad, who went bankrupt, as my mum. You don’t have to get it right, and you don’t have to pretend. You only need to stay one lesson ahead. I tell them they now are one lesson ahead, because they now understand paying yourself first.
The first (easy) prison visit
The second (hard) prison visit
Facing my preconceptions
The power of choice
The impact of stress on IQ
Learning to question my assumptions
We teach adults how to get on top of their finances so they can stop work sooner and stop losing sleep over money. Part of that is, of course, teaching them how to get into the situations you’ve just read about in the first place. If that sounds good to you, check out our course on Achieving Financial Independence.
You may also like to check out our Facebook page, where we share articles and video tips. Given you’re reading about bankruptcy, you may be interested in reading our tips on credit cards, avoiding the Struggle Street trap, and some wonderful free and cheap financial education resources you can access, including people to talk to for advice.
For those in debt and not quite at the stage of bankruptcy, we also have a free course called ‘Get out of debt fast’. You’ll find it on our homepage.