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TheRustyOne
Guest
teehee. that's funny. too bad i don't smoke...
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edhead2000
Guest
Yeah.........that's the point!
That is because it first starts with us as parents. We give our children everyting as any parent would want to do. Then, we continue to support our children through life and when they graduate college, they do not want to start out with an old car and a small house, they want it all right now. THye do not want to step down in a standard of living for a while until they can afford it themselves. THen they also expect Social Security or their company iof they are lucky enough to pay for everything when they are old and retired. That $1,000,000, MIllion Dollars, can be eaten up real quick with medical costs. THis does not mean to not save, it means you should.
:soapbox: Time to step off the box now.
:asian:
I didnt forget how... The greedy corporations wont let me...
Low Wages + High Cost of Living = No Money...
:waah:
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edhead2000
Guest
I feel my parents did an excellent job when I was younger. I was about 7 when I told my dad that I wanted a red Corvette for Christmas. The next day he took me down to the bank and we opened up my savings account. He gave me a little bit of money to start it, but I was responsible for the rest. I did get an allowance, nothing extraordinary, just a few bucks a week. Once my dad explained "interest" to me and I saw that the bank was paying me to keep my money there, that was incentive enough to put some of my allowance in my account every week. I still don't have my red Corvette, but I do have a fairly nice savings account. It's amazing how much it adds up -- even if you cut out one thing from your daily routine, it can add up really fast. Say you usually buy two or three bottles of soda at work everyday. Instead of doing that, bring them from home or drink water. Just saving a few dollars a day can really add up.
Yes, my parents have helped me out with college some, but the majority of the money I receive now is from government loans ($20,000 a year for graduate school). My parents do pay my rent and give me a very small stipend every month to cover basic utilities. Anything else I want has to come from the money I earn at work. They did buy me a townhouse to live in, which they will resale when I graduate in 2 1/2 years and use the money they've made to retire. The area that I live in is pretty expensive rent-wise and they thought it was a better idea to buy. It seems to be paying off as the townhouses for sale around me are already (I've been here 1 1/2 years) going for about $15,000 more than what they paid for mine. Even if they don't make much money off this deal, they will at least make enough to cover the interest payments and break even. Now most would consider me a spoiled brat, but I feel that my parents weighed all the options and chose the best one for themselves.
Another thing my dad did when I was young is get me interested in the stock market. I've had my own stock portfolio since I can remember. He would always ask me what companies I wanted to invest (he always said "buy") in, and usually they were the places I liked to go: McDonald's, Wendy's, Mattel (as any little girl, I loved my barbies), etc. He would always consult with me before he sold and give me his reasonings. The exciting part was going to these places......my dad would always make up something that I "owned" in the store. "Erin, you see that chair over there? You own that chair." Of course I couldn't take it with me, but when the stocks were up, he'd tell me that I "owned" something else (a table and a chair).
The last point I want to make is that my parents waited 13 years before having me. They wanted to have secure jobs and be financially stable before I was born. My mom still works at the same place she did when I was born and my dad has retired and is now at another job. Even though my parents probably could have given me anything I wanted, they didn't. They taught me that the things I want have costs and that I have to earn them.
I know a lot of my friends will say that I'm a spoiled only child or things of the like and believe me, I've heard it all. My parents have been lucky and so have I. Trust me, I thank my lucky stars everyday for having such a good life and good parents who love me. I definitely understand that not everyone is as lucky as I have been. I think my parents did a great job raising me to become financially aware. I do live alone with help from my parents. However, all the bills are in my name and I am responsible for paying them on time and taking care of all the finances for my "quasi-household" (that'd be me and my cat). My dad expects detailed budgets every quarter and if I'm paying too much for something he definitely lets me know how to decrease costs.
So I guess the point of all this is that I feel my parents taught me very well how to save. Teaching your kids how to save money isn't hard and it can be very fun and rewarding for the kids. I don't think it's a lost art. I still plan on driving my car after I graduate and finding an apartment. I know these are things that my parents won't pay for. Besides, they'll be retired and living at the beach somewhere by then.........
Originally posted by edhead2000
. . .
So I guess the point of all this is that I feel my parents taught me very well how to save. Teaching your kids how to save money isn't hard and it can be very fun and rewarding for the kids. I don't think it's a lost art. I still plan on driving my car after I graduate and finding an apartment. I know these are things that my parents won't pay for. Besides, they'll be retired and living at the beach somewhere by then.........
Erin,
Yes, your parents did there best, and it sounds like you have an idea of what it takes to buy something or to live. You can get help and still understand and appreciate the help and know it for what it is. Yet, that lesson began wiht your parents as you pointed out. After the lesson (* Years in the learning *), you did not expect your parents to get you a new Corvette for being 16, and then pay for your schooling et al and have you do nothing.
I do like the idea of the budgets, and letting you know when you have been or are planning on paying too much. This is also helping you to understand the market place and the world.
I did not mean that we are all spoiled brats, just that many times we do not always do the best for ourselves or our children. Even though we may have done our best, it may not have been the best for them. This is not to blame everything on the parents, as individuals you have to learn to be an adult and take responsibilities for your actions.
:asian:
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TheRustyOne
Guest
I suck at saving money...
although, in my immediate family, my sister, Emily, has been the only one to piss money away w/ ciggs...and that was only for a few years. she broke that habit a couple of years ago.
although, in my immediate family, my sister, Emily, has been the only one to piss money away w/ ciggs...and that was only for a few years. she broke that habit a couple of years ago.
