This is the 100th column in this series, so by now you are all no doubt extremely rich. The next question, then, is to how to enrich our children. A couple of weeks ago, I debated the introduction of teaching money, and invited comments. Several were received. Here are two of the best:

"I'm a little dumb-founded that you would propose people not be taught money management and basic finance skills," the first reader wrote. "Money management is as basic to living in this world as reading, writing and arithmetic (i.e. basic mathematics). However, it is often neglected because, by and large, the majority of people (including many teachers) do not know anywhere near what they need to know in order to live beyond a paycheque-to-paycheque existence and to avoid the financial traps and pitfalls all around us.

"As a result, many people don't break free from their cycle of financial enslavement, because they don't understand the most basic concepts and have few around them that can offer good advice.

"I refuse to believe that people should live in ignorance when it's so vitally important that people should know this stuff if they want to advance in this world and lead a more prosperous life. Too many people spend beyond their means and overuse debt and credit to the point that they become slaves to that next paycheque and to those that lent them money. The example of 'credit risk' that you provided about those people who never paid you back the money you lent is also an important one that people should understand, since life is full of many situations like this.

"Unlike love, which is based on human desires and needs and thus very difficult to teach as a lesson plan, basic lessons about money, money management and finance can easily be developed and taught since, at its core, it is all about trade and commerce, which has a significant history with numerous resources currently available.

"What is money? How to prepare a (personal) budget. The concept of interest and how it works. How to evaluate the cost of a loan. This is all basic stuff that people need to know to live in the world today but which is rarely taught in school. There are many more interesting, more advanced topics that I believe should also be taught but this list is a good start.

"Having said that, there are two reasons why teaching this (subject) may fail in schools. First, money management and basic finance requires an understanding of basic mathematics. If kids are not grasping even the basics of mathematics, the teaching about money in school is a non-starter and the least of society's problems.

"The second issue is making sure that there are enough teachers that understand the subject and are enthusiastic about teaching it. The enthusiasm of students for a particular subject is often strongly linked to the enthusiasm that teachers display when teaching the subject. The most enthusiastic people about this subject are those that actually live many of the principles being taught, which unfortunately is a somewhat small percentage of the population. If this subject were taught by someone who poorly understands it, it's doubtful that they would provide the enthusiasm that would motivate students to full-heartedly believe in the value of the message being taught.

"In summary, to not teach the skills of money management and basic finance to our kids is to deprive them of the knowledge that is as important as anything else to know for them to function and succeed in today's society. This subject isn't one that is 'nice to know', but represents knowledge that helps people make better decisions about how they use money and ultimately live more prosperous lives."

It's hard to argue with any of that.

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Here's another letter:

"(Teaching money in school) is an excellent idea. I don't see any down side to this. Not one! Many of us get into financial trouble precisely because we are very ignorant as to how money works.

"This programme should be started with the very first math lesson. Show the kids how money relates to the numbers. In many examples the 'sums' are about the number of apples or oranges that one has and how much remains if so many are shared with others. In the very same way, why not replace the apples or oranges with money? At the earliest stages use whole numbers; they will be easier for the kids to comprehend.

"From there on, build a curriculum that is age- and grade-appropriate. Teach from simple interest to compound interest; teach about saving money that would enable the student to one day have the downpayment and the requisite carrying charges to afford a mortgage. Teach about the honourable thing to do and repay all loans that (people) have received. Also teach the budding lenders that they ought not to charge usurious interest rates.

"Teach the good and bad about money, and the pitfalls that will follow, if the monetary rules are not followed. Remember one of the most important lessons that the schools should be teaching is to enable the students to be productive members who can contribute, no matter how little, to their societies.

"Yes, some of the students will flunk the course, but that would be the stupidest reason for not teaching how money works. Many students flunk out of law school, med school, dental school and other professional schools, but those schools stay open and graduate many fine professionals. In much the same way, knowing how to handle one's money will go a long way to alleviate many of the hardships that some of us find ourselves in when we are confronted with a financial crisis.

"I have been blessed and have been able to do well, but I wish that I had had the opportunity to have been thought how money works at a much younger age. So my vote is to encourage the school authorities to get the ball rolling on this capital idea, without delay!"

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I encouraged readers to write because I wasn't sure how good an idea teaching money in schools might be. These writers, and others, have persuaded me that, on balance, it would be a good idea.

In Britain last month, an announcement was made that schools would indeed start teaching about money. This is an area in which Bermuda could improve the quality of the education afforded to our children.