The Edcawber Principle

Sorry to hear hear about Mrs E's gran, although it sounds like it was a release and peaceful

I expect you are watching Scotland v England. Scotland has already won the anthem singing. Although I like 'God Save the Queen' for British occasions, I wish England had a song to stir the blood for English situations.

AlexLK wrote: »

I think this is such a good way of thinking about money and how to help our children . I now don't think it's particularly healthy to provide so much your children have no need to work. However, I think being able to help our children to launch their own lives is important.

Not so long ago I believed the way forward was to provide my son when older with an allowance which would cover all the basics so he did not need to work to avoid giving large amounts of money he could waste. Now I wish to encourage him to look after himself a little more.

edinburgher wrote: »

The way I see it Alex, we should be able to provide enough so that she gets one very lucky break, an opportunity to avoid having to pay for something significant (like an education, a deposit for her own home, or a round the world adventure). While I'm optimistic about the future, I do think that each generation has it just a little bit harder because of inflation and whatnot. So we'd like to provide a meaningful degree of assistance, like yourself.

£110 paid off a CC (Mrs E's uncle paid for his rugby ticket). Also submitted a FIT reading for our solar panels, but as we're just coming out of the dismal quarter, it'll only be £30 or so

This is a really interesting debate. Alas, if I continue to earn as little as I currently do it's unlikely to be a debate I will have to have for any little 'uns I bring into the world, but I've watched some rich famous people be asked this question on TV as well and I think I have come to the conclusion that the single biggest mistake a parent can make is to not allow their child to develop a sense of purpose, whatever that may be...a child may not know what they want to do/be when they are older, but in having to earn a living of some description while they figure it out is an important part of the process. Most of the children of famous people who become trainwrecks (drug addicts etc.) just don't have a sense of purpose: they don't need to earn a living as mum and dad give them lots of money and they live in the shadow of people who are richer/more famous etc than they probably think they can ever be, so why try?

I hope that should I ever have children, I am wise enough to remember this. :idea:

P.S. £30 is £30, Ed - don't knock it!