Personal finance software can redefine poverty. The definition of poverty has been refined over the past number of years and the new definition is gaining support:

Old Definition: Lack of basic necessities

New Definition: Inability to provide oneself with basic necessities.

It’s the old adage – “you can keep giving a man fish time and time again, or you can teach him to fish once”. This new focus on capability allows a more comprehensive focus on addressing poverty and working towards eliminating it in the world. With this new definition, the values of self-esteem and freedom are part-in-parcel with sustenance, making discussions on poverty more complete.

Capability is key with personal finance software

Capability is the key. This is why the educated are less likely to end up in poverty. With education comes capability, at least to provide for yourself.? We need to teach our children to be capable of earning their own basic necessities.? Perhaps its time to take stock on how you are doing with your parenting relating to financial matters.? Have you:

  • taught your children how to save?
  • taught your children about investing money?
  • shown by example that you live within your means, curbing your spending and wants to match your extra spending money?
  • taught and shown that debt is to be avoided where possible?

Teaching these and other principles will go a long way in ensuring our next generation does not experience poverty.

CalendarBudget is an online budget planner that provides calendared reminders when bills are due. Contact us today if you want to redefine poverty with personal finance software.