Guest Post: Lessons learned from the economic crisis.

Post by Lori Mackey, award-winning author and creator of the Money Mama, and founder of Prosperity4Kids, Inc.

My grandfather has always told me, everything in life happens for a reason. Even when you can’t imagine what the reason could be, the answer shows up eventually. The economic crisis has forced people to make changes either out of desperation or preparation, and this event will be the biggest learning experience we will see in many of our lifetimes.

The crisis has created some positive events like the massive amount of awareness on the subject of money and the need for financial education in our schools, homes and society. It’s in our nature as human beings to ignore things until they hit us in the face and even though many of us saw this left hook coming, it was a knockout!

One benefit is people are saving more money and working on creating emergency funds to protect them in the future. Watching friends and family members lose their homes and personal property is an image many of us will not soon forget.

Children will be raised in a nation of savers versus spenders, and we just might have the savviest money smart generation yet since the great depression. I hope children will understand the importance of saving and investing for their future. Money will have value and hopefully children will learn how to earn and create the American work ethic we have not seen in awhile.

I have already seen a push for schools to implement financial literacy into the curriculum and I see it as a subject taught starting in Kindergarten throughout College. It will be as important as learning to read, write and knowing arithmetic. If anything, we have learned A’s in school cannot out perform F’s in Finance.

Parents are also becoming aware of the importance of educating their children at home and have realized giving their children everything they did didn’t have, was not such a great idea. But children are smart and we must help them adapt to the financial change in the household, because honestly all children really want is love, appreciation and to know you are proud of them. Families will become closer and build stronger bonds.

The lessons are plentiful, and we must learn as much as we can from all of this. One lesson everyone has learned is there is nothing more important than building a secure financial foundation. Money truly is simple, but somehow it got way too complicated and when things get complicated they are hard to follow (I am sure that was the plan).

So simply put, we must all learn to pay ourselves first, live within our means and build a financial fort that no one can break through. We will question people of authority if our gut tells us to, and become educated in all areas that affect the rest of our lives. And one day when this all has passed we will say just as my grandfather did, well I remember when…

Mackey has appeared on Good Morning America, Fox Business News, and Fox & Friends. Mackey has made it her mission to empower children for healthy financial futures! To find out more visit www.Prosperity4Kids.com.

Tags: Emergency Fund, Financial Literacy, Kids, Lori Mackey, Saving