Princess is a show on CNBC on Saturday nights. It is hosted by personal finance expert, Gail Vaz-Oxlade. Each show is about a person who has spending habits way above their income. They have been getting what they want by borrowing money from family and friends.
Gail shows the participants how to set up a budget that corresponds with their income. She assigns a challenge for each of the 6 weeks. Challenges range from researching how to make more money to finding ways to stay in your budget.
On a recent show, the subject of the show kept changing her mind on what she wanted to do as a career. Her mother thought she had started and quit at least 10 different areas of study. In one case, her mother had taken out a line of credit to pay for the tuition. Then the school went under and the tuition was sent back to her. But instead of paying her mom back, she spent it on other things she wanted.
This is one reason I feel it is important to teach kids about money and finances when they are young, so they know how to handle them when they get out on their own.