Teen/Youth Entrepreneurship

@djemba (767)
India
January 14, 2009 11:34am CST
The current educational system is fractured and needless to say hardly provides the youth with wings to be financial independent. Many financial geniuses and young entrepreneurs with natural talents are supressed by the current education policy. It is never too old to start earning but it is never too early either. Mistakes are a part of entrepreneurship and early beginning allows for the youth to understand the power of money, thereby reducing mistakes and gain maturity pretty early in life. So in the long run, it would take them lesser time to reach that first million. It is important that the youth are caught young so that their want to consume is not converted into debts but diverted into entrepreneurship so that they can earn the money for their wants. Instead of getting into the ill-habit of taking loans. In entrepreneurship, perhaps the dynamic youth maybe much more productive than an experienced old-timer businessman.
1 person likes this
3 responses
@echomonster (2227)
• Greenwood, Mississippi
15 Jan 09
Many financially successful people that I've read about became entrepreneurs as schoolkids. One current fund manager whose name I've forgotten started off by buying chocolate bars in bulk and selling them to his classmates! Others had lemonade stands or did lawn work; probably the new generation are starting Internet businesses as teenagers. I don't disagree with you that the education system could be improved, but personal initiative is ultimately something every entrepreneur needs also. Nothing is stopping the kids from researching business or even starting one on a small scale even if they're not exactly encouraged into doing those things. Perhaps the subject of personal finance is what is most needed in the schools -- some many people don't know a stock from a bond but yet have multiple credit cards, student loans, car loans, and other debt! We often learn how to go into debt before we learn how to save, unfortunately.
@djemba (767)
• India
15 Jan 09
That is exactly the point. Yes, some are gifted with a natural flair for entrepreneurship, while others may require some motivation. Over all these factors, even if one earns, they have to learn to keep what they have earned.
@egdcltd (7200)
14 Jan 09
Considering that most stuff learned at school is never used again after schooling is finished, it's pretty appalling that basic finance, something you will use almost daily, is not taught at all in most schools. Never mind more advanced finance. Perhaps if people were taught from an early age basic money handling skills, financial crises like the current one could be avoided.
1 person likes this
@djemba (767)
• India
14 Jan 09
Trust me the most basic thing that we lack as we enter into earning adulthood is the discipline to keep money and spend lesser than we earn. Too often I have seen people indulge a bit too much!
@luvandpower (2049)
• United States
14 Jan 09
I can see where your going with this, I support fully I think it would also help a youth to learn to conserve money, and see the wealth of the world in its value, and not only in what they buy.
1 person likes this
@djemba (767)
• India
14 Jan 09
Conserving money is the most basic part of a youth's financial education, but they must know that depending only on a monthly paycheck is a very risky proposition.