That'll teach them

Davesnave

Children don't learn by being told. Give them experience. Make them manage on a limited budget when they are young, and when they are old enough, encourage them them to go out and earn the extra. Don't cave-in either when they 'run out,' or they'll just do it again & again.

Simple principles, but too hard for most parents, it appears. Of course they'll not always like it at the time, but if it is part of planned parenting they will come to it gently. I guarantee that kids brought up this way will not only know the value of money, but also have pride in the way they manage it and a very strong sense of independence.

That's what we should all want for our kids. We only have them on loan for a short while, and whether they grow up thrifty or reckless makes a hell of a difference to their chances of future happiness.

Ian_Griffiths_Halifax

Davesnave wrote: »

We only have them on loan for a short while

That's the real problem. Too much borrowing going on. If you bought one outright from the start, it would have been yours to keep. You've only your self to blame.

mr.broderick

This is a good thread..

A couple of days ago i was chatting to the wife and said i had probably drunk 12 cups of tea at work that day, the tea costs 20 pence from a flavia machine. I said i was going to cut down, not really to save money but for the sake of my health. My 3 year old daughter was in the kitchen as we were having this discussion.

This morning as i was heading out for work my daughter shouted me from upstairs so i headed up there to see what was up.
She had took 2 20 pence pieces out of her little piggy bank which is on her dresser and she went on to hand them to me.

That is it, that is the story.

lostinrates

mr.broderick wrote: »

This is a good thread..

A couple of days ago i was chatting to the wife and said i had probably drunk 12 cups of tea at work that day, the tea costs 20 pence from a flavia machine. I said i was going to cut down, not really to save money but for the sake of my health. My 3 year old daughter was in the kitchen as we were having this discussion.

This morning as i was heading out for work my daughter shouted me from upstairs so i headed up there to see what was up.
She had took 2 20 pence pieces out of her little piggy bank which is on her dresser and she went on to hand them to me.

That is it, that is the story.

Very sweet.

Jennifer_Jane

Cleaver wrote: »

My Amex card will give me around £400 at the end of the year through cashback and with just a simple direct debit set up via one phone call, they won't get a penny off me in interest. Credit cards are great: insurance on purchases, some offer you commission free currency abroad, rewards, cashback, security if you suddenly find yourselves stuck somewhere and need to buy your way out of the situation, store cards giving your 20% off for signing up and many other advantages.

You just need to know how to use them, so maybe you should teach your kids that?

Thanks, Cleaver. Mine also gives 4% interest on a credit balance and 1% cashback. So, if I'm buying something through a cashback site and using this card, I'm doing quite well.

I lived for a long time in a dangerous society which did not have debit cards, so credit cards were the only way to be able to buy things without carrying money.
Jen
x

Jennifer_Jane

mr.broderick wrote: »

This is a good thread..

A couple of days ago i was chatting to the wife and said i had probably drunk 12 cups of tea at work that day, the tea costs 20 pence from a flavia machine. I said i was going to cut down, not really to save money but for the sake of my health. My 3 year old daughter was in the kitchen as we were having this discussion.

This morning as i was heading out for work my daughter shouted me from upstairs so i headed up there to see what was up.
She had took 2 20 pence pieces out of her little piggy bank which is on her dresser and she went on to hand them to me.

That is it, that is the story.

What interest rate was she offering?

mr.broderick

lostinrates wrote: »

Very sweet.

The tea? No just 1 sachet of sugar.

Marcheline

slipthru wrote: »

What are these 'citizenship' lessons you talk of?

They are compulsory and you can get a GCSE in it. Here's a sample exam paper (!) http://store.aqa.org.uk/qual/gcse/qp-ms/AQA-3107-W-QP-JUN07.PDF With such challenging questions as 'Explain the pros and cons of having a school council', I won't be encouraging my child to take up the GCSE in it. The BBc have also reported on it here http://news.bbc.co.uk/1/hi/education/5384522.stm

Ian_Griffiths_Halifax

mr.broderick wrote: »

This is a good thread..

A couple of days ago i was chatting to the wife and said i had probably drunk 12 cups of tea at work that day, the tea costs 20 pence from a flavia machine. I said i was going to cut down, not really to save money but for the sake of my health. My 3 year old daughter was in the kitchen as we were having this discussion.

This morning as i was heading out for work my daughter shouted me from upstairs so i headed up there to see what was up.
She had took 2 20 pence pieces out of her little piggy bank which is on her dresser and she went on to hand them to me.

That is it, that is the story.

At 3 year old, that's very cute, but if she were thrifty, she'd have made you a flask. You aren't teaching her well enough.

lostinrates

mr.broderick wrote: »

The tea? No just 1 sachet of sugar.

And the daughter?