These are facts of life. Yet, how we, as citizens of the U.S., react and respond to these cycles is ultimately determined by the level of financial intelligence we have individually and as a nation.
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Santa Barbara, Calif. (PRWEB) March 7, 2009
Americans and economists the world over are waiting with bated breath, in anticipation of signs of an end to the recession that has brutalized the U.S. economy. As President Obama and his advisors wrestle with the greatest financial crisis since the great depression, Elisabeth Donati, an author and speaker on family budgeting, suggests what's needed is the strong medicine of a strict "national allowance" to bring financial stability to our nation.
To make her point, she has shipped copies of her book 'The Ultimate Allowance' to the White House in care of Malia Anne and Sasha Obama, the nation's much admired "first kids".
"Only by becoming money-savvy and more fiscally responsible can we ensure that our children won't get into the economic situation America is now in," Ms. Donati commented. "In a very real sense, the economic downturn is indicative of the lack of financial education we receive as children, both in school and at home. We have to change this now and we have to change this fast."
As the co-founder of the popular Camp Millionaire financial awareness program for teens and author of 'The Ultimate Allowance' teaching aide for parents, Ms. Donati says she has seen first-hand how runaway spending and the lack of a sensible family budget can disrupt families and negatively impact children.
"Economic cycles and trends happen," she noted.. "These are facts of life. Yet, how we, as citizens of the U.S., react and respond to these cycles is ultimately determined by the level of financial intelligence we have individually and as a nation."
Written as a step-by-step teaching guide for parents to impart common sense money management skills to their offspring, The Ultimate Allowance provides simple but effective lessons to prepare kids for life's fiscal challenges:
- Set the best example you can by your own wise use of money. Children learn about money by how they see parents handle it.
- Talk with your children about money. Many teens leave home without a clue what to do with their college loan money, first paycheck, checkbook, the credit card offers they are deluged with and more. Invite them in on the family financial conversations.
- Provide your children with practice experiences with money before they leave home. Run the money you spend ON your kids THROUGH them instead. This way poor choices can
- be corrected before they are painful and great choices can be celebrated as the child is guided every step of the way.
- Educate your children with news reports, magazines and books that illustrate the importance of money as a fundamental part of everyone's life, They must know that money is a critical aspect of becoming a responsible adult and knowing how to manage it is a key element living life successfully.
"I set out to make The Ultimate Allowance an owner's manual for the wallets and pocketbooks of our children," Ms. Donati stated. "When used as an ongoing program to explain money management to children of elementary school age through high school, the book serves as the only financial parenting tool you need to ensure your son or daughter understands the power and pitfalls of money."
The Ultimate Allowance: A Step-By-Step is available online at http://www.ultimateallowancebook.com. For more information, or to schedule an interview with Elisabeth, call 805-957-1024.
About Elisabeth Donati
Elisabeth Donati is creator of Camp Millionaire and is the author of The Ultimate Allowance, the only book parents need to prepare their kids for amazing adulthoods. As an educator, Ms. Donati has a knack for inviting people to think differently about money and inspiring them to act to improve their lives as well as the lives of others.
She is an expert in the field of financial education for kids ages 10 and up. The unique programs Ms. Donati has developed use accelerated learning techniques and an experiential style of programming (i.e., games, activities, role-playing and contests) to keep the participants enrolled and engaged, increase their retention by up to 90% and ensure that the campers have a great time learning about the sometimes dry and taboo-laden subject of money. She has also developed, as part of the program, The Money Game…a financial simulation game where the kids are the pieces.
About Creative Wealth Intl., LLC
Creative Wealth Intl, LLC prepares kids and teens to grow up, choose and create financial freedom. It helps ensure that they will move out and STAY out, except for visits of course. She also offers a woman's only financial empowerment program, Creative Wealth for Women. For more information, visit http://www.creativewealthforwomen.com
Camp Millionaire and Moving Out! for teens is a place where kids learn the ins and out of personal money management, wealth creation principles and quite a bit about life as well. All of our programs, youth and adult, explore how our money mentality, i.e., our beliefs and attitudes about money and wealth, influence your choices and behaviors and help dictate our future wealth potential. For more information, visit http://www.creativewealthintl.org