The role of parents in financial education

[mashman]

Your opinion right or wrong that the current financial system is flawed has nothing to do with educating kids to survive in an environment where they have to live in that very system. Educating people to make the most from their incomes small or large can only help in the long run. If you chose a mortgage purely on the lowest monthly payments even though you could afford to pay back a little more - you made the wrong choice.

Bullshit. It has everything to do with the current system, including, but not limited to, food, water, having a roof, giving a shit about others, profit over people etc... Perhaps you will answer, with some form of detail, why you believe that educating kids in regards to income/debt/saving etc... will pay dividends in the long run? I want to know what will happen to the economy if everyone is financially educated and uses that education. Coz using your logic thus far, your outcome is that there is no debt. That is impossible given that every cent/digit in circulation was created with a debt (interest) attached to it. You can't borrow $1 and be expected to pay back $1.10 when only $1 exists.

As for your wrong choice... if I'd rather have a mortgage that I can pay back over many years whilst having the money to enjoy a motorcycle at the same time, then I've made the right choice. You fuckers just want people trussed up as nothing but income earners for some bizarre reason. Kinda fascist even.

Fuck - I've spent my whole life being a rebel and an outsider ...

People keep giving me well paid jobs and throwing money at me ..

What the fuck amd I doing wrong ???

Splitter...

[Akzle]

i woke up this morning thinking "hey, KB is missing something... AHA! an "Ocean v. mashy re: money" thread!
and here it is in it's full glory.

so i'll sumarise for all you dicks who don't get it:
mashy is mostly right, and ocean is mostly wrong. you can all go back to whatever you were doing before this thread interrupted your enjoyment of KB. move along now...

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?

no jackass, just because i disagree with you, does not mean i lack comprehension.
1) i DO NOT choose to live in "your society" - quite the opposite.
2) "here" ed? i happen to be here, have no way of going anywhere else, yada yada yada.
3) who owns the land, ed? who has the supreme claim to planet fucking earth, and can thus make "law"?
is it a bunch of arrogant white fucks in wellington? i don't reckon.
4) what benefits do i want ed? i want to be left the fuck alone to do my own shit. how difficult is that?
5) why should i have to go anywhere? god put me here, so here i am. who has an authority above god to tell me to move? you?

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BWHAHAHAHAHHA. no ed. you don't. you're not of god, you're not it's representative and you don't have it's auhority to tell me to fuck off.
me, however, am godly as fuck. so fuck off.

And no GFC.

Couldn't possibly get more obvious than that.

you don't really get it at all, d'ya?

That is my point. I am a pure bred Kiwi; English, Scottish, Spanish, Danish, (royal family), Creole Indian and Irish. 4th-5th generation New Zealander. How could I possibly be racist?

The Treaty was signed between the Indigenous Maori signatories and the Crown and I have no issues with honouring the Treaty, it was a legal document.

What I have issues with is that so many claim their Maori heritage on the slightest of grounds to expect special treatment and/or to attack non-Maori as interlopers regardless.

With the pace at which the races integrated, why are not all NZ'rs cherishing their whole heritages? Most of those claiming their Maori heritage would be far less than half Maori blood and probably as much Scottish, Irish or English as I am, even Chinese, for pity's sake.

Like I said, racism is stupid!

no, white cunts are stupid (mashy et al, you're honorary black today).
legal = white.
document, also pretty white.
pakeha = DEFINITELY interlopers.

why not take your good monetised democratic system and fuck off, and see how well NZ gets on without you lot?

Where do you think that the money goes? In a vault somewhere?

no, under the mattress in my caravan...

You still appear to have no idea how the financial system works.

...prove it. from what i've seen so far, it's only fucking jews that win at the end of the day.

You might want to make your (somewhat addled) mind up about the money supply. At one point you say that banks pluck it out of thin air, and then you speak about the supply drying up. Why don't the banks just print some more?

err. they do? and when i say "they" i do mean the jewIMF. and that guy, that hacked that bank, and made some money up.... it's all numbers, there's a complex calculation based on how many registered persons are available to exploit per area of land, roughly defined by "countries" and managed by "governments"

but fuck it, i'm not going ot argue with you. you keep going to work, pay your fucking taxes and i'll keep bludging them. after all, it really is a good system.

[Genestho]

S'alright, there's was nothing of any real note in it anyway was there
Oh there was

It takes time. I'll get there.
Sure ya will honey.

They may be a minority, but they do the majority of damage to society. All good that people are looking after themselves, but the money they are earning is doing damage somewhere else.
Society damages itself.


And you're saying that economics takes into account human behaviour? I understand economics fine thanks and I use it just about every day of my life, as do many other people. Turning it into some mythical science is disengenius to say the least. If you could grasp the concept of how the moneyless society worked, you wouldn't see human nature (human nature doesn't exist, it's learned behaviour) as there being a problem.
Mmmm the point is you dont understand economics enough to [be in a position] to offer a better solution AND that you can't plan around human nature.
You've displayed your lack of financial understanding on many threads here. Disagree that it's soley learned behaviour but then we've been there before aye.


So everyone that was invoved was unethical? And no matter what financial system rules and regs are in place those same temptations will be there... after all, there was nothing illegal about their activity's where there?

A real life scenario. Care to explain why millions/billions of people go hungry? That's a real scenario, one that you don't want sorted it would seem.

Where did i say I didn't want it sorted?
Being a slacktivist on KB sure as heck ain't sorting it and given your communications, I'm not convinced you really have enough of a heart when you knock hard workers with your "rich prick" attitude.

I'm sure you know as well as I do, the issues for poverty are varied, from the very basic upwards...and given how easy it is to be unethical, or make bad financial or otherwise decisions, we will see this no matter what we do.

You still didn't answer the original question though. Given that your scenario has been a successful one, apply that to every "kid" and tell me what the likely economic outcome is going to be... after all, you say I don't understand economics, so you must.

The original question where? You made a sweeping statement added with petty insults aimed at those that don't agree with your vision? A Troll aye. Nothing you could write now would convince me that your motives are pure. Crying shame really.

If you mean the q in your latest reply?
How can I tell you what the outcome would be? The only experience I have is my own, I'm not every parent and every kid is not my own.

But I can (again), make a general statement that saving a portion of income reduces personal debt, it's not rocket science.
Teaching kids how to make smart financial decisions instead of creating never ending debt staves the wolves away.

Saving doesn't mean cutting your own throat - you can do both, it also ensures a good time is had! Pride intact!

[Akzle]

I'm sure you know as well as I do, the issues for poverty are varied, from the very basic upwards...and given how easy it is to be unethical, or make bad financial or otherwise decisions, we will see this no matter what we do.

nope. the reasons for poverty is just one: money.

more specifically, not having it.

or did i miss something?

[gwigs]

[/COLOR]






[COLOR="#139922"]
no, white cunts are stupid (mashy et al, you're honorary black today).
legal = white.
document, also pretty white.
pakeha = DEFINITELY interlopers.

[scumdog]

.. if I'd rather have a mortgage that I can pay back over many years whilst having the money to enjoy a motorcycle at the same time, then I've made the right choice. ...

Bugger that - given the option I wouldn't have a mortgage - fuck paying the bank interest for 20 years or so..

(BTW: Hence why I don't have a mortgage)

[mashman]

Oh there was

You're telling me what was of note? Not very nice.

Sure ya will honey.

Thanks for the vote of confidence.

Mmmm the point is you dont understand economics enough to offer a better solution AND that you can't plan around human nature.
You've displayed your lack of understanding on many threads here. Disagree that it's soley learned behaviour but then we've been there before aye.

Again with the assumptions in regards to what I know. Got any proof? The solution I offer does 1 main thing to begin with, everything else remains unchanged. So everything can keep working as it is until we decide otherwise.
In which case it shouldn't be hard to find an example.

Where did i say I didn't want it sorted?
Being a slacktivist on KB sure as heck ain't sorting it and given your communications, I'm not convinced you really have enough of a heart when you knock hard workers with your "rich prick" attitude.

I'm sure you know as well as I do, the issues for poverty are varied, from the very basic upwards...and given how easy it is to be unethical, or make bad financial or otherwise decisions, we will see this no matter what we do.

Oh noes, did I make an assumption, one that is based on you believing that the financial economy after hundreds of years will finally address poverty? The solution to poverty is simple, in fact the green texted man has given the answer. If you threw as much money as is required to deal with poverty, it would be sorted. That makes you look naive. Yes there are many factors, but the food is there, the logistics is there, the manpower is there, the money isn't, end of!

As for my communications, perhaps you're reading them incorrectly, oh, here we go, yup confirmation as I'm not knocking the workers at all, and I don't have a "rich prick" attitude. Your issue m'dear, not mine. My slacktivisim is serving its purpose and I have stated as such before... you must have missed the memo, so here goes: My slacktivism is canvassing "normal" people and gauging what the likely arguments I would have to face should I finally get to that point where I start communicating with people face to face. Also, I can communicate more ways than one, true story.

I can do this without the KB 'tude if you would prefer?

The original question where? You made a sweeping statement added with petty insults aimed at those that don't agree with your vision? A Troll aye. Nothing you could write now would convince me that your motives are pure. Crying shame really.

If you mean the q in your latest reply?
How can I tell you what the outcome would be? The only experience I have is my own, I'm not every parent and every kid is not my own.

But I can (again), make a general statement that saving a portion of income reduces personal debt, it's not rocket science.
Teaching kids how to make smart financial decisions instead of creating never ending debt staves the wolves away.

Saving doesn't mean cutting your own throat - you can do both, it also ensures a good time is had! Pride intact!

From the OP

Well, if we're all financially literate and we all decide to save for a rainy day/for our dotage, then who the fuck is going to buy anything?

I've yet to receive an answer. Oh dear, this is KB, insults are part and parcel of the delivery. Try looking past them and you may even find civility... just sayin like. No troll.

Nothing I could write eh. Would I trade my life for a world as I see it. With my last heartbeat. I swear that on my children's lives. You can bet your arse that I R serious about it, your choice.

Extrapolate. If you understand economics as you claim then there should be no issue. No one buying anything they they deem "frivolous" means that those industry's will collapse. The economic effects are far reaching. Not sure if you're trolling or not wanting to go there, but that is a reality given that financial responsibility is brought to bear.

True. You can do both, but there will be a consequence to that financial responsibility

[jonbuoy]

Bullshit. It has everything to do with the current system, including, but not limited to, food, water, having a roof, giving a shit about others, profit over people etc... Perhaps you will answer, with some form of detail, why you believe that educating kids in regards to income/debt/saving etc... will pay dividends in the long run? I want to know what will happen to the economy if everyone is financially educated and uses that education. Coz using your logic thus far, your outcome is that there is no debt. That is impossible given that every cent/digit in circulation was created with a debt (interest) attached to it. You can't borrow $1 and be expected to pay back $1.10 when only $1 exists.

As for your wrong choice... if I'd rather have a mortgage that I can pay back over many years whilst having the money to enjoy a motorcycle at the same time, then I've made the right choice. You fuckers just want people trussed up as nothing but income earners for some bizarre reason. Kinda fascist even.



Splitter...

It will pay dividends for THEM in the long run -the money will stay in their pockets and not be wasted on interest and be swallowed by the greedy banks. I don´t want my kids trussed up paying interest to banks. People entering adulthood are not always made aware by their parents of facts like these. As an example if you borrow 200,000 over 35 years at 4% interest you will hand over to the bank 171,000 in interest and your payments will be 885/month. The same loan over 25 years instead and your monthly payment increases by 170 to 1055 a month but you only pay 116,703 in interest.

You just saved 54,297 in interest - AND you paid back your mortage 10 years earlier. If you carried on putting that 1055 a month away just in your own account as if you were still paying your mortgage in 10 years you would have 126,660 in cash towards your retirement. So now you "gained" 180,957 by simply putting away an extra 170/month.

If you just stuck with the lower mortgage payment over a longer period of time and put away that 170/month mortgage payment difference you would only have around 61,000 saved.




http://finance.ninemsn.com.au/pfloan...ater-explained

http://credit.about.com/od/usingcred...inimumonly.htm

http://www.moneysavingexpert.com/mor...ent-calculator

[mashman]

no, white cunts are stupid (mashy et al, you're honorary black today).
legal = white.
document, also pretty white.
pakeha = DEFINITELY interlopers.

why not take your good monetised democratic system and fuck off, and see how well NZ gets on without you lot?

YAY, go me... if that's ok with you massa

[mashman]

waaaaaaaa ha ha ha ha haaaaaaa... that about sums it up.

[mashman]

Bugger that - given the option I wouldn't have a mortgage - fuck paying the bank interest for 20 years or so..

(BTW: Hence why I don't have a mortgage)

Whoopdee go you. I'm going for having money now so that we, as a family, can enjoy ourselves a little and insuring myself so that when I die the family will get the house paid off and half a million in the bank too. I get most of what I gave the bank back .. well, my family will coz I'll be dead, no biggy.

[mashman]

It will pay dividends for THEM in the long run -the money will stay in their pockets and not be wasted on interest and be swallowed by the greedy banks. I don´t want my kids trussed up paying interest to banks. People entering adulthood are not always made aware by their parents of facts like these. As an example if you borrow 200,000 over 35 years at 4% interest you will hand over to the bank 171,000 in interest and your payments will be 885/month. The same loan over 25 years instead and your monthly payment increases by 170 to 1055 a month but you only pay 116,703 in interest.

You just saved 54,297 in interest - AND you paid back your mortage 10 years earlier. If you carried on putting that 1055 a month away just in your own account as if you were still paying your mortgage in 10 years you would have 126,660 in cash towards your retirement. So now you "gained" 180,957 by simply putting away an extra 170/month.

If you just stuck with the lower mortgage payment over a longer period of time and put away that 170/month mortgage payment difference you would only have around 61,000 saved.

WOW that is awesome, and if 1 million people did that, there's be 170,000,000 less money going into the economy each month. I know getting back to my original point is tacky considering this is KB, but how many jobs would be lost with that money not flowing through the economy?

You do realise that there are calculators on bank websites that calculate that stuff for you too... honest indian.

[scumdog]

Whoopdee go you. I'm going for having money now so that we, as a family, can enjoy ourselves a little and insuring myself so that when I die the family will get the house paid off and half a million in the bank too. I get most of what I gave the bank back .. well, my family will coz I'll be dead, no biggy.

So now you've added the cost of life insurance to the interest costs?

Anyhoo, paying off the house quick-smart pays big dividends, bigger than most realise IMHO.

[mashman]

So now you've added the cost of life insurance to the interest costs?

Anyhoo, paying off the house quick-smart pays big dividends, bigger than most realise IMHO.

In financial terms, yes it does. But that money could also be used for taking my kids swimming, or to the movies, or paying for petrol to take the bikes for a ride, or for paying for new shoes, new clothes, school trips, school fees etc... No contest!

[jonbuoy]

WOW that is awesome, and if 1 million people did that, there's be 170,000,000 less money going into the economy each month. I know getting back to my original point is tacky considering this is KB, but how many jobs would be lost with that money not flowing through the economy?

You do realise that there are calculators on bank websites that calculate that stuff for you too... honest indian.

It will get spent eventually - just not by the banks. Its your choice to give money to the banks in interest - I´ll bet you´ll be one of the first to moan and mutter about rich pricks when the guy next doors buys a brand new boat to celebrate his retirement despite the fact he has earned the same as you but been more careful. My point is that even a relatively small overpayment in interest can make a huge difference maximising your "spend now money" doesnt always make good sense - you need a balance - something young adults should be made aware of. Not all bank managers will tell you it.