Giving Our Kids A Different Kind of Education

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To help new students combine an introduction to wealth education with the first term in traditional education, The Money Gym is co-hosting a lively, interactive Internet Training event in Central London on 20th & 21st September 2008.

To help new students combine an introduction to wealth education with the first term in traditional education, The Money Gym is co-hosting a lively, interactive Internet Training event in Central London on 20th & 21st September 2008.

With thousands of young people currently gearing up for their first year at University, parents around the country are scratching their heads and wondering where exactly are they going to be finding the money to support their offspring. And pondering at what point are they going to be able say "You're on your own now."

Indeed, GMTV are currently following two families through the current supposed credit crunch and one of them is a middle aged couple, with two teenagers, one of whom wants to go to college but who is scared to run up student loans and incur debt for living expenses. What a sad and fearful start for what could be a fantastic life.

Wealth coaching company http://www.themoneygym.com believes the problem starts with the education system itself. In the UK, our entire school system is designed to create an army of people whose sole thought on how to get on, in life, is to get a good job. The only problem with having a good job is that your salary is static, and very vulnerable to market forces. So if your expenses go up, or worse, you lose your job for any reason, you have lost your sole source of income.

However, if you learn how to make money, before you leave college or University, then you've learned a skill that will set you up for life, and help reduce student debts to a much more manageable level. It could even pay your way through college if you put the effort in.

Money Gym founder and wealth coach Nicola Cairncross suggests such activities as:

  • Building a part time business around a hobby or interest. One Money Gym client bought boxes of 100 shuttlecocks and packaged them up in smaller batches of 10 or 20 and sold them to students via the local badminton clubs.
  • Starting a part time business providing services that are always in demand, such as cleaning, babysitting or dog walking. The student doesn't even have to do the work, just organise teams of other part-timers to do the work, while they handle the organisation and promotion (such as organising for leaflets to be delivered).
  • Starting a part time business can legitimately cover some day to day expenses such as a mobile phone bill - and we all know how quickly they can add up for a student.
  • Students are in a great position to start a business online -James Murray Wells found out that he needed glasses in his final years of University and it gave him the idea of starting Glasses Direct. In 2005 Growing Business magazine cited Glasses Direct as having a turnover of £1m plus and James has since won the 2005 Shell Livewire award for entrepreneurship, the 2005 Startup Award, the 2005 Wales and West Country Entrepreneur of the Year Award.

The first step is acknowledging that wealth education is just as, if not more, important than traditional education. If you invest £500 into learning a new skill that could help you make an extra couple of hundred pounds a month (£2400 a year extra), then your return on investment in the first year would be 480% - a much better return than leaving it in a savings account at 6% interest. In the second year, your return would be much higher because you have made your initial investment back in the first year.

In this day and age there is no reason why anyone needs to be poor or rely on just one income stream. A proper wealth education will provides not only money for the here and now but also acts as an insurance policy against credit crunches, hikes in interest rates, and spiralling costs of living.

One of the speakers at the London event will be well known Australian copywriter & entrepreneur Brett McFall, author of "How To Make Money While You Sleep" (publisher: Wiley ISBN-10: 0731407296).

Entry will be effectively free, with participants asked to donate £25 per person to a UK based charity, rather than paying high ticket prices. Perfect for students on a tight budget or parents on an even tighter one!

Note to Editors:

The Money Gym has helped hundreds of people along the road to financial independence (and created some millionaires along the way). It is a powerful programme that teaches participants a solid and proven way of creating wealth, with a choice of ways to suit your personality. These could be a choice of, or a combination of high risk, high return investment, solid bricks and mortar, or building a business that you can sell or use to set you up for life.    

For more info please contact Paula Gardner on 0208 504 4557 or visit the website at http://www.themoneygym.com/mgpresents/internet1.htm

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PAULA Gardner
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