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How many really stupid things have you done with your money? Probably not many, if you're fourteen or eighteen years old. But your parents have been around longer. Your aunts and uncles. Your grandparents. Their friends. They've lived for decades. They've had a tons of time to blow it a few times, to make poor decisions about their money. Even Warren Buffett and Bill Gates can share some doozies with their kids.

That's right, your adult friends and family members have likely slapped their foreheads and shouted, "Doh!" numerous times. No matter how smart, no matter how successful, adults make financial mistakes. But remember - few of them were ever taught anything about money management or investing when they were young. Neraly all of them had to wing it.

You've got a significant advantage over them. So learn from them now.

Here's an interesting exercise. Pick four adults. (Heck, pick thirty - you'll learn even more!) How about one of your parents, one or two of your teachers, and the owner of the corner market? Ask them what one or two of their dumbest investments or money moves have been. For a long time in this country, there was a natural resistance to talking about money. This has contributed to our great ignorance. So begin now. Ask questions. Don't ask specifically how much money someone made or lost. But do ask them for lessons.

If they seem too embarrased to admit to any, remind them that their pain will be yoru gain, that they'll be sparing someone else from making the same mistakes - in other words, point out how exceedingly generous they'll be. And make sure you also ask some adults you consider to be very sucessful - you'll find that everyone has at least a few regrettable moves. Record your findings for future reference.

-The Motley Fool Investment Guide for Teens: 8 Steps to Making More Money Than Your Parents Ever Dreamed Of by David and Tom Gardner, pg. 86

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