In$truction manual
What if money had instructions on the back? Basic economic facts, wise slogans, etc? I think it would be useful.
At first I thought this was a dumb idea, then I realized there could be good things to teach people. I’m just not sure it would fit on a bill. I don’t know whether Dollar cost averaging can be explained in a small space, or why rebalancing your portfolio periodically is a good idea. I’m also unsure whether explaining these things is appropriate when the bigger problem is people spending money they don’t have. A lot of people say it’s young people who spend instead of save, but it isn’t just them. I’ve known several families living in multimillion dollar houses where the parents have 6-figure incomes who are constantly in debt because they overspend. Knowledge does not necessarily result in good decisions.
