NBC: "Six things almost every parent does that set kids up for financial misery"

[leno...@yahoo.com]

I have to say, MY family didn't do most of these things. I doubt that made us unusual, either. But that was a few decades ago.

https://www.cnbc.com/2019/11/27/redline-these-money-moves-if-you-want-to-raise-financially-smart-kids.html?utm_source=pocket-newtab

The following related articles are linked:

"The fastest-growing debt category in U.S. is not student loans or credit cards"

"Here are four ways to prevent over spending this holiday season"

"Real-life 'Catch Me If You Can' con artist says you should never post these things on social media"

"Advice that will save you headaches this year and prevent financial strain"



Lenona.

[The Real Bev]

On 12/01/2019 11:25 AM, leno...@yahoo.com wrote:
> I have to say, MY family didn't do most of these things. I doubt that made us unusual, either. But that was a few decades ago.
>
> https://www.cnbc.com/2019/11/27/redline-these-money-moves-if-you-want-to-raise-financially-smart-kids.html?utm_source=pocket-newtab

Everything listed should have been done in the 5-8 timeframe.


--
Cheers, Bev
'Politics' comes from an ancient Greek word meaning
'many blood-sucking leeches.' -- Mark Russell

[leno...@yahoo.com]

On Sunday, December 1, 2019 at 2:52:30 PM UTC-5, The Real Bev wrote:

> On 12/01/2019 11:25 AM, lenona wrote:
> > I have to say, MY family didn't do most of these things. I doubt that made us unusual, either. But that was a few decades ago.
> >
> > https://www.cnbc.com/2019/11/27/redline-these-money-moves-if-you-want-to-raise-financially-smart-kids.html?utm_source=pocket-newtab
>
> Everything listed should have been done in the 5-8 timeframe.
>

Er, explain? I don't get it.

[The Real Bev]

Stuff in the "Ages 15 to 18" box should have been known to children 8
and under. Possible exception for the "read a paycheck" thing, but they
really aren't that complicated.

--
Cheers, Bev
"Don't force it, use a bigger hammer!"
--M. Irving

[leno...@yahoo.com]

On Sunday, December 1, 2019 at 3:51:07 PM UTC-5, The Real Bev wrote:

>
> Stuff in the "Ages 15 to 18" box should have been known to children 8
> and under. Possible exception for the "read a paycheck" thing, but they
> really aren't that complicated.

Oh. Somehow I missed that box.

I wasn't taught to comparison shop - but I was worried about money from age 10 onward, so no one really needed to teach me.


Lenona.

[The Real Bev]

You watch what your parents do and do the same. Even when she was an
executive with an executive salary my mom would buy steak only when it
was on sale. She was a sucker for Omaha Steaks, though.

When I got my first job at 16 for 85 cents/hour I rapidly learned about
the relationship between time and money. It took me a LONG time to
discard the 1 dollar = 1 hour thing. Decades, possibly.

When I was little I shopped carefully, trying to get the most bang for
my 1/4 buck. I remember getting a nifty toy at the little store down at
the corner -- a transparent window filled with iron filings and a magnet
to move them around .

Kids today...

--
Cheers, Bev
"Steve Balmer, CEO of Microsoft[0], recently referred to LINUX as a
cancer. Unsurprisingly, that's incorrect; LINUX was released on
August 25th, 1991 and is therefore a virgo." -- Kevin L

[ItsJoan NotJoann]

On Sunday, December 1, 2019 at 4:19:15 PM UTC-6, The Real Bev wrote:
>
> You watch what your parents do and do the same.
>

I haven't read the article but yes, I agree completely. Being raised by
parents that were newlyweds at the start of the Depression, I was instilled
with frugality, comparison shopping and all that goes with wise money
management.

[rbowman]

My parents married later but both had been adults during the depression.
I learned about value early. By that I mean buying the cheapest product
available is foolish if it doesn't work well for its intended purpose
and doesn't last. Buying expensive products is also foolish if the
perceived value is a brand name or features that don't really make it
any better for the purpose at hand.

iirc the Monkey Wards catalog was a good training aid. Many of the
products were characterized as good, better, and best.

[The Real Bev]

Same for the Sears catalog. I was a city girl -- we didn't know about
M-W! You could read about the features of the three grades and decide
what was worth the money and what wasn't. No pressure, plenty of time
to think about what you really wanted.

Real shame that Sears collapsed before on-line shopping became a thing.
It would have been perfect.

--
Cheers, Bev
A man's got to know his limitations.
It's a woman's duty to make sure of this.

[rbowman]

On 12/01/2019 09:33 PM, The Real Bev wrote:
> Same for the Sears catalog. I was a city girl -- we didn't know about
> M-W! You could read about the features of the three grades and decide
> what was worth the money and what wasn't. No pressure, plenty of time
> to think about what you really wanted.

We had the best of both worlds.

https://www.facebook.com/MyUpstateNY/posts/522242111291012:0

It was both a store and the catalog warehouse so you could phone in an
order from the catalog and go down to pick it up in a few hours.
Sometimes what you got was better than what you ordered.

My mother preferred the A&P (The Great Atlantic & Pacific Tea Company)
which was about half a mile up Broadway. Friday nights was grocery
shopping and usually a stop at Wards. My father and I would watch the
guy demonstrating the ShopSmith or check out the sporting goods while my
mother did her thing elsewhere.

Sears was a latecomer. My mother-in-law preferred Sears but it was
strictly order from the catalog and pick your stuff up in a week or so.

Either one of them coulda, woulda, shoulda been Amazon but the timing
was just off a little.