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"Bank of Dad: Because apparently, I look like I'm made of money."
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Love it, home based financial education.Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 12st determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 100% through my pb challenge.0
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Brilliant idea........good on ya !!0
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Love it. All children, whatever their age, should be taught the value of money, and how you have t work for it. I also love the very serious comments above, hilarious!0
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Great idea but kids should be taught to manage their own finances under supervision asap.
Our two daughters were taught to manage money from a very young age. They had allowances from age 13 which had to be used for all pocket money and clothes, etc and we made them open savings accounts for saving up for big items, birthday money etc. Both had weekend jobs from age 16 and managed to get through uni with just the student loans. Now both have good jobs and mortgages and although we have gifted money for houses, cars, weddings and new baby they have never asked to borrow.
We always only gifted money when they had saved a proportion themselves as well to show committment. They were gifted large amounts by my mum as well at 18 to go towards uni etc and they showed they could handle large sums of money, in fact one went through Uni without touching the £10k my mum had given her which I thought was great for an 18-19 year old. Eventually it went towards driving lessons, a car and a house a few years after graduating. She is still a great saver now and likes to have a saving buffer particularly now she is on maternity leave.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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It clearly has to be a spoof, because how many six-year-olds would understand words like 'furthermore', 'discretionary' and 'unsustainable'.
And the use of "with occurring future debt" instead of "incurring", and "if you would like to refute this decision" instead of "contest", makes me think that the Bank of Dad is not as stable as he makes out...0 -
It clearly has to be a spoof, because how many six-year-olds would understand words like 'furthermore', 'discretionary' and 'unsustainable'.
And the use of "with occurring future debt" instead of "incurring", and "if you would like to refute this decision" instead of "contest", makes me think that the Bank of Dad is not as stable as he makes out...
Yes definitely!0 -
I would assume NO and get a job aren't looked on favourably these days then0
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