11 Money Lessons to Teach Your Kids

Since we’ve discussed what money skills kids should know before they leave home, I was interested in seeing if the authors of Lessons to My Children: Simple Life Lessons for Financial Success, Wealth, and Abundance agreed with those thoughts. Here are the 11 lessons they list (with some explanation from me where needed):

Lesson 1: Pay yourself first.
Lesson 2: Patience pays. (Save over a long period of time.)
Lesson 3: Write yourself a “reality” check. (You need a budget so you can see what you’re really spending.)
Lesson 4: Have a game plan.
Lesson 5: Limit your debt.
Lesson 6: You get what you pay for.
Lesson 7: Balance risk and reward.
Lesson 8: Learn investing 101.
Lesson 9: Assemble your team of experts.
Lesson 10: Being organized pays dividends.
Lesson 11: Ask what your taxes can do for you.

A couple comments from me:

• Pretty basic stuff. Most of the important pieces are covered. Also, this could be a list for anyone wanting/needing to learn about personal finances — not just kids.
• That said, I don’t see anything about careers. It’s interesting to me that most personal finance books leave out this fundamental part of managing your finances. Do you think it’s because they assume that your career/earning potential is “set”? Or is it some other reason?