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How the Changing Business World Will Affect Your Children’s Decisions

Things are done differently in today’s business world.   Technology moves faster than ever before and with it comes the ability to create things like iphone apps and electronic digital music from the comfort of our bedrooms that could be worth millions…and our kids know it! The knew generation of entrepreneurs are starting at incredibly early ages and having great success doing things we could never dream of when we were growing up. With all this potential for financial success and the high cost of higher education, does it make sense to send our entrepreneurial kids to college? I still think yes, but not necessarily for the same reasons we used to be willing to send them.   Let me explain.

When a child goes to college, there’s the value of potentially finding their career path as well as; of course, walking away with a degree. For certain this is why our parents saved and slaved to send us, but there’s another and I think more important reason to push our kids into collegiate waters… there are sharks there. OK, not literally, but there are all sorts of interpersonal challenges that we’ve been sheltering them from for 18 years, that they now must go out and learn how to deal with for themselves.College Tuition 2

Let’s start with the roommate. More than likely this is the first time they’re living with someone other than a relative, which means that they are now accountable for their own chores lest they feel the wrath of an angry and new enemy. Now they have to help clean the room, do their own laundry and respect someone else’s boundaries. They also have to learn to live with someone’s idiosyncrasies that may be annoying and possibly curb their own behavior out of respect for the other person sharing the room.

Next, they have to decide on classes and will learn very quickly that it’s not a good idea to go for just the easy schedule. They will need to learn character-building techniques like negotiating their classes on their own including getting there on time, studying and getting good grades with no supervision. They will have to deal with bitchy teachers and learn how to handle alcohol and pier pressure. Essentially they become adults, but in a semi-protected environment. After all they don’t have to pay the majority of the bills and they get to come home over the summers and hang onto their youth while rebelling enough to make themselves feel adult.

I’d say it works pretty well for everybody involved, but here comes the caveat. If they are entrepreneurial minded, let them start a business while they attend school. Their friends and co-students will be glad to buy from them if they’re providing a good service or product.

Dino

Leading the industry through his innovative approach, Dino Katsiametis has over 17 years of extensive experience within mortgage, banking and real estate industries. His passion for the collective financial and investment services sector combined with his distinct insight, has catapulted Money Matters with Dino onto the forefront of financial news.

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