How is it possible that an 18-year-old like Lindsay Binegar can be so fiscally responsible at such a young age? Perhaps a better question is why don’t we expect more responsibility, fiscal and otherwise, from our teenagers? How long has it been since you heard about a teenager having chores to complete in order to earn an allowance?
While I applaud Lindsay’s self-restraint in saving her money, I think it is unfortunate that it comes as such a surprise. I know children who have cell phones, game consoles, and laptop computers but have never earned a dime. How can we expect these children to become fiscally responsible young adults when we haven’t taught them the value of earning what belongs to them?
According to The Obesity Society, in the past 30 years, the occurrence of overweight in children has doubled and it is now estimated that one in five children in the US is overweight. Is it any coincidence given the decline in physical activity among our youth due to too little parental disclipline, too much time spent playing video games, and too much reliance on fast food? As humans, we may be the only species that no longer has to do any physical activity in order to obtain our food. As such, we consume large quantities of fat and calories without counter-balancing it with exercise.
If you’re at least 30-something you may have noticed we’re becoming a culture of indulgence and instant gratification. Meanwhile, our savings rates have hit all-time lows. There’s a valuable lesson for us all in Lindsay Binegar’s ability to buy a $40,000 home in cash at the age of 18. Perhaps we should all take some notes.