Values are principles that guide our decisions and behavior, influence our emotions and help define who we are, what we believe in and how we live. Values are held in our heart. That which is dear to us is what we value. Values like harmlessness, truth, serenity, gentleness, forgiveness and fortitude are some of the important values in life. By living life according to these values, full realization of human potential is possible. These values are common to all religions and philosophies, although the importance may differ. Some traditions are more oriented toward love and devotion, while others focus on truth and knowledge. Related to truth are values as honesty and integrity; related to love are compassion and friendship; related to justice are fairness and lawfulness and related to freedom are responsibility and duty. Another distinctive fact of our time is a lack of honorable, unselfish and inspiring leaders. Many of our current leaders are in fact setting a bad example, thus encouraging others to follow them down the wrong path. One fine example is how CEOs of many large companies in developed Western countries take excessive amount of compensation each year which equals to millions of dollars in comparison to the average salaries of their employees. It should be noted that these people only stay in their position for an average period of three years; take the money and run is one way to describe their character. Some of the great leaders of our time are Mahatma Gandhi and Nelson Mandela who were inspiring moral leaders. These men have made a great impression by demonstrating that it is possible to walk the talk, to live the values of courage, perseverance, integrity and patience. If we are going to find such leaders in the future then we will need to start early in preparing young people. We need to inculcate in them an appreciation and understanding of the value of values. We need to introduce fine values to our young people in schools where they would be an integral part of the education process. In order to be effective, a value- based education program is needed to educate students from an early age on the importance of fine values as guides for life and to show that values are common to all religions and traditions. We need to demonstrate the practical application of values in the studies and activities of the school and highlight the importance of values in developing effective relationships. Universal values are those that are natural to all human beings and apply to all people in all places and at all times. When followed, these values bring balance, peace and happiness to our lives. When not followed, the inevitable result is stress, sorrow and unhappiness. But instead of using the formative years of young people to help develop inspiring leaders of tomorrow, we are digging ourselves deeper in the cesspit of materialistic values. If this continues we run the risk of our schools becoming certification centers instead of providers of fine education.