The role of parents in financial education

[mashman]

You connected Greenspan to Ponzi in the same paragraph.

Given that you have propensity toward gibberish, it is understandable that you fail to make yourself clear , so perhaps you can tell us about that connection.

Maybe this will clear it up, I'm guessing it won't... but it's as far as I'm going to explain it to you.

Sigh. I cleared that up earlier, the issue is primarily yours.

[Winston001]

Think about it...

By the standard for claiming to be Maori, I can claim to be Creole Indian. For Pete's sake, we are human beings, all of mixed heritage, there should be no racism.

Actually Ed, there are solid evolutionary reasons for racism viz. mostly humans have existed as tribes/clans and other tribes/clans are regarded with suspicion. They are potentially dangerous. If they look different then they are even easier to identify and be suspicious of.

In modern civilisation we are inter-bred and understand racism is a primal response which is out of date.

[Oscar]

Maybe this will clear it up, I'm guessing it won't... but it's as far as I'm going to explain it to you.

Sigh. I cleared that up earlier, the issue is primarily yours.

You cleared it up?
You repeated some half arsed catch phrase you saw on the web and now you can't explain it.
The only issue here is your apparent messiah complex.

[MIXONE]

Aside from the fact that there are no pure blood Maori left, and given their European ancestry, are there any "Maori" who would care to comment?

All this racial crap is doing nothing for this country.

Wrong.There are still full blooded maori in New Zealand.I have seen quite a few birth certificates that state "Maori Of Full Blood".

[jonbuoy]

I really don't understand your ramblings Mashman. It's always struck me as daft not to give kids some sort of idea about finance at school. Mortgages, interest rates, shares, planning for retirement, compound interest, credit card debt etc.... Are you worried your kids might know more than you do about it?

[Akzle]

You give the Govt. authority over yourself. You don't have to earn any money if you don't want to, thereby you don't pay tax.

You don't have to drive a car, either, that is all your choice. You don't have to do anything you don't want to.

i NEVER gave anyone authority over myself. But certain dicks in certain holdens seem fair insistent on things.

Anyway ed. Where would i stay, and how to pay for it?
(rates etc)

and how would i eat, since the govt has rules about who can have guns and what can be shot...

And youd be surprised how few places have parking for a horse now a days.

It seems, ed, you have managed to be an old dog, and learned surprisingly few tricks.

[mashman]

You cleared it up?
You repeated some half arsed catch phrase you saw on the web and now you can't explain it.
The only issue here is your apparent messiah complex.

I did.
I repeated a catchphrase eh?
bwaaaaaa ha ha ha ha ha ha haaaaaaaaaaa... then stop arguing and get following.

[mashman]

I really don't understand your ramblings Mashman. It's always struck me as daft not to give kids some sort of idea about finance at school. Mortgages, interest rates, shares, planning for retirement, compound interest, credit card debt etc.... Are you worried your kids might know more than you do about it?

It struck me similar too once upon a time, right before I realised that the ramifications of arming all kids with such financial knowledge would render the exercise moot and would do more damage than good. I can understand why people may believe that this is a great thing, but it's moronic to fool oneself into believing that financial knowledge will make a difference to how the world works, let alone that it will have a positive impact on spending etc... heh, I could care less if anyone knew anything more than I did on any given subject, which is a large part of my ramblings. Probably why you don't understand them, as your need to feel superior clouds your ability to think rationally. But that's ok, you're in good company, but that doesn't earn you a badge just yet.

Follow the theory of kids learning finance through and see what you end up with. You might want to save some time and take into account that the professionals aka banks, have recently fucked up quite severely.

[Edbear]

Wrong.There are still full blooded maori in New Zealand.I have seen quite a few birth certificates that state "Maori Of Full Blood".

i NEVER gave anyone authority over myself. But certain dicks in certain holdens seem fair insistent on things.

Anyway ed. Where would i stay, and how to pay for it?
(rates etc)

and how would i eat, since the govt has rules about who can have guns and what can be shot...

And youd be surprised how few places have parking for a horse now a days.

It seems, ed, you have managed to be an old dog, and learned surprisingly few tricks.

Try reading my post again but this time with comprehension. You choose to live in our society, your choice. If you want to live here you will be subject to the laws of this land. You want all the benefits without the responsibilities. Like I said, if you don't like it go somewhere else. How could I make it simpler for you?

[Edbear]

Wrong.There are still full blooded maori in New Zealand.I have seen quite a few birth certificates that state "Maori Of Full Blood".

I stand to be corrected, so how many and how old? If there are I would suspect a very small number.

[jonbuoy]

It struck me similar too once upon a time, right before I realised that the ramifications of arming all kids with such financial knowledge would render the exercise moot and would do more damage than good. I can understand why people may believe that this is a great thing, but it's moronic to fool oneself into believing that financial knowledge will make a difference to how the world works, let alone that it will have a positive impact on spending etc... heh, I could care less if anyone knew anything more than I did on any given subject, which is a large part of my ramblings. Probably why you don't understand them, as your need to feel superior clouds your ability to think rationally. But that's ok, you're in good company, but that doesn't earn you a badge just yet.

Follow the theory of kids learning finance through and see what you end up with. You might want to save some time and take into account that the professionals aka banks, have recently fucked up quite severely.

So we shouldn't teach kids politics because politicians fuck up all the time? How about just being able to give your kids a heads up about unscrupulous banks willing and able to drag you into more debt than you can pay back? How about teaching them about these companies that will loan you money to cover the shortfall in your monthly expenses but at interest rates of 1000% or more? How much money they can save in the long term by overpaying the mortgage instead of getting a new TV? Forewarned is forearmed. I don't think Im superior - your the one who seems to take great pleasure in cutting down other people's ideas- you know better than them?

[Ocean1]

Follow the theory of kids learning finance through and see what you end up with.

A lot fewer of them defaulting on poorly considered loans.

And no GFC.

Couldn't possibly get more obvious than that.

[mashman]

So we shouldn't teach kids politics because politicians fuck up all the time? How about just being able to give your kids a heads up about unscrupulous banks willing and able to drag you into more debt than you can pay back? How about teaching them about these companies that will loan you money to cover the shortfall in your monthly expenses but at interest rates of 1000% or more? How much money they can save in the long term by overpaying the mortgage instead of getting a new TV? Forewarned is forearmed. I don't think Im superior - your the one who seems to take great pleasure in cutting down other people's ideas- you know better than them?

How many politicians have a political degree? As the meme goes, if you're seeking political office, you probably shouldn't be allowed anywhere near it. Come on, kids know who to go to and who not to go to when it comes to getting a loan. When a bank knocks them back and the kids decide that they can maintain their payments for whatever they would like, then it's hardly surprising that they go elsewhere to get the cash. All of the financial understanding in the world isn't going to stop that from happening and at that point in time, even though it's going to cost them more, they are going to get what they can afford at that time. Tis like most things in life, when life changes and you get into the shit because you can no longer afford to make the payments (job loss), some dickhead always rock up and tell you that you were stupid to take the loan in the first place without considering how long you have successfully been repaying the loan. You didn't really give it any thought at all did you. Typical half-arsed knee-jerk response to something that looks like it's probably right, but with zero critical thought applied to validate how the theory. You, you've earned your sticker.



As for superior, I don't cut ideas down without offering an alternative, and certainly not with any pleasure.

A lot fewer of them defaulting on poorly considered loans.

And no GFC.

Couldn't possibly get more obvious than that.

Fuck off. Who are you to tell people that they can't have what they want because they can afford it at the time and have made the decision to limit their lifestyle to have that which they want. What a moderately amusing comment given your ideology.

... You've already earned your sticker, no need to give you another.

Hook, line and sinker .

[Genestho]

Follow the theory of kids learning finance through and see what you end up with. You might want to save some time and take into account that the professionals aka banks, have recently fucked up quite severely.

Er what you end up with are adults that understand not to borrow over and above what they can't afford to pay back no matter what the economy's doing.
And I think you'll find that people that have this knowledge are just fine at the moment.

Saving doesn't mean no spending in the economy - it means very little personal debt owed to anyone.
20 years ago i started financial life with 10k that id saved on low wages, first deposit on a home that needed heaps of work, only the new roof and foundations were any good and the commute to work was tough, rates were at 13%.
20 years later ive bought and sold homes and property with a heckload of hard work, short mortgages and very little personal debt now, if any.

6 months ago I walked my son through a mortgage scenario on current lending rates.
His own conclusion to payment solutions was varied, but overall his own response was not to buy the 400k home, start small.
He's also saved a portion of his pocket money that he earns for two years so that he was able to afford a big ticket item.

I'm pretty happy with that and I know already he's on the path to financial literacy.
You see, somewhere a long the line people started ticking credit and letting it get so far out of hand, very much part of the problem we have now, not all, but almost preventable.
You are still in control of how your money works, well you should be, whether it's invisible or not.

[jonbuoy]

How many politicians have a political degree? As the meme goes, if you're seeking political office, you probably shouldn't be allowed anywhere near it. Come on, kids know who to go to and who not to go to when it comes to getting a loan. When a bank knocks them back and the kids decide that they can maintain their payments for whatever they would like, then it's hardly surprising that they go elsewhere to get the cash. All of the financial understanding in the world isn't going to stop that from happening and at that point in time, even though it's going to cost them more, they are going to get what they can afford at that time. Tis like most things in life, when life changes and you get into the shit because you can no longer afford to make the payments (job loss), some dickhead always rock up and tell you that you were stupid to take the loan in the first place without considering how long you have successfully been repaying the loan. You didn't really give it any thought at all did you. Typical half-arsed knee-jerk response to something that looks like it's probably right, but with zero critical thought applied to validate how the theory. You, you've earned your sticker.



As for superior, I don't cut ideas down without offering an alternative, and certainly not with any pleasure.



Fuck off. Who are you to tell people that they can't have what they want because they can afford it at the time and have made the decision to limit their lifestyle to have that which they want. What a moderately amusing comment given your ideology.

... You've already earned your sticker, no need to give you another.

Hook, line and sinker .

Once again - utter nonsense. Most kids don't have a clue what 13% APR actually means. Choosing the right mortgage, loan, pension, life insurance, payment protection, is confusing for adults. A lot of kids wouldn't have a clue what any of it means unless their parents gave them some pointers.

From your line of thinking why bother to educate them at all- they will muddle through life one way or the other eventually. I think you need to print that badge out, stick it on your screen and read it before starting another of your bizarre threads.