The role of parents in financial education

[mashman]

Well they said an income of $500 - why fudge the amount they earn - especially when trying to get a loan??

Perhaps the other income is sporadic? Some of ours was considered as such by a mortgage advisor we spoke with.

[jonbuoy]

Ah. Now here's where we agree believe it or not. I'm happy to let the fuckers starve... however we both know that that won't happen as they will merely take someone else's and that's the whole point of giving them money in the first place.

Yes I can see your solution to poverty now - "let the fuckers starve" - nice - the evil western governments don´t even have that attitude.

So in "Mashtopia" the moneyless society - do you accept that things that are rare now will still be "rare" - hardwoods, precious metals, rare earth metals, fine wines, prime steaks, gemstones, antiques, oil, coal, gas- there will be no more of these generated by Mashtopian economic model than there is now.

So what happens in a simply daily chore - like shopping. How are you going to do something fairly basic - make sure that each person has an equal share of something as simple as say a T-Bone steak and a good bottle of red wine- you can only get a limited number of prime cuts from a cow and only so many good bottles of wine from a good grape harvest - the rest would be stewing or mincing/cheap plonk. So is it a first come first served situation in the "supermarket"?

[scumdog]

- the rest would be stewing or mincing/cheap plonk. ?

Yeah - but it WILL be free~

[mashman]

Yes I can see your solution to poverty now - "let the fuckers starve" - nice - the evil western governments don´t even have that attitude.

So in "Mashtopia" the moneyless society - do you accept that things that are rare now will still be "rare" - hardwoods, precious metals, rare earth metals, fine wines, prime steaks, gemstones, antiques, oil, coal, gas- there will be no more of these generated by Mashtopian economic model than there is now.

So what happens in a simply daily chore - like shopping. How are you going to do something fairly basic - make sure that each person has an equal share of something as simple as say a T-Bone steak and a good bottle of red wine- you can only get a limited number of prime cuts from a cow and only so many good bottles of wine from a good grape harvest - the rest would be stewing or mincing/cheap plonk. So is it a first come first served situation in the "supermarket"?

... that ain't up to me. True, the evil western guys have reputations to uphold and just keep money away from people who need fed.

Mashtopia... great name. Yes rare stuff will be rare and will be used where they are most needed. Oil, coal and gas will be left the fuck alone as and when it is replace by something else.

Not everyone likes T-Bone steak or indeed classes it as the best meat. Not everyone likes red wine or drinks. Take what you want, the shelves will be stacked again at a later date. Tis up to your conscious how much you take... however if, for some reason, someone decides to hog all of the hog, it'll be up to the community to decide if action is required. Yup, first come first served, just as it is now.

[jonbuoy]

... that ain't up to me. True, the evil western guys have reputations to uphold and just keep money away from people who need fed.

Mashtopia... great name. Yes rare stuff will be rare and will be used where they are most needed. Oil, coal and gas will be left the fuck alone as and when it is replace by something else.

Not everyone likes T-Bone steak or indeed classes it as the best meat. Not everyone likes red wine or drinks. Take what you want, the shelves will be stacked again at a later date. Tis up to your conscious how much you take... however if, for some reason, someone decides to hog all of the hog, it'll be up to the community to decide if action is required. Yup, first come first served, just as it is now.

I don´t think you have thought this through at all have you? Most of the community will be doing their chores/work when that tray of Snapper/Steak/wine gets put on the shelves. The only people that will get the prime cuts are the ones hanging round the supermarket all day which means they can´t be doing anything productive. People will start swapping/bartering amongst each other - "I don´t like red wine but there was one bottle of good stuff left - can I swap you for that steak?"

[mashman]

I don´t think you have thought this through at all have you? Most of the community will be doing their chores/work when that tray of Snapper/Steak/wine gets put on the shelves. The only people that will get the prime cuts are the ones hanging round the supermarket all day which means they can´t be doing anything productive. People will start swapping/bartering amongst each other - "I don´t like red wine but there was one bottle of good stuff left - can I swap you for that steak?"

talk about not thinking things through. The "chores" aren't necessarily going to have people working longer than a 4 hour day, there will be another 20 hours in the day to jostle for position in the food queue . Also, the people who catch the snapper, cut the steak, produce the wine will have first refusal over what they produce. People can barter all they like, it's not going to be forbidden.

[FROSTY:Me]

I wasn't saying that these people don't exist. The thing is they have the money to make the payments in your example. As for running etc... you assume that they don't earn money in another way. Fair enough in regards to those who continually default, but how do they continually get finance when they are known risks?
Do you really think that financial literacy lessons are going to change their spending behaviour? Like you say, they can't get credit from the cheaper interest channels, so they head of to the shark. They know how much cash they have.

There is a cycle of borrowing and as your probably know, it only takes a person to go overdrawn once and it could quite easily continue like that for the rest of their lives. I honestly don't see financial literacy classes making a hoot of difference.

As I said, I get the idea behind financial literacy classes, but I don't see how it's going to make a blind bit of difference to the decision making process of those who are willing to get themselves into that position.

You don't get it do you?? these people DON't have other income. The examples quoted are all eventually file 13's once shredded.
But still they applied with the expectation of getting finance.
In most cases the first time they have done a personal income/expense list is with me.They have no clue how close to deep trouble they actually are. They don't know because they have never been taught such basic life skills

[Ocean1]

They don't know because they have never been taught such basic life skills

I reckon if Mashie's mum had taught him the basics of financial literacy we wouldn't all be here now trying to do it for her.

[mashman]

You don't get it do you?? these people DON't have other income. The examples quoted are all eventually file 13's once shredded.
But still they applied with the expectation of getting finance.
In most cases the first time they have done a personal income/expense list is with me.They have no clue how close to deep trouble they actually are. They don't know because they have never been taught such basic life skills

I get it fine thanks... they may not have other income that they can declare as a regular income is where I'm coming from. You cannot deny that that is a possibility. It may not be a majority circumstance, but it is a possibility...
Do you reckon they went somewhere else to ask for a loan after you explained it to them? Look, I do agree with you in regards to a lack of education, I just don't see the point in wasting school education time to make people financially aware. If they haven't grasped it by now, then what makes you think they will grasp it at school? Odd how have they managed to keep under the magical $500 limit so far? surely if they were that ignorant they would just spend spend spend?

[mashman]

I reckon if Mashie's mum had taught him the basics of financial literacy we wouldn't all be here now trying to do it for her.

... it ain't my mum's fault, tis the fault of the professionals failing at their profession and missing that a GFC the likes of which had never been seen before happened to slip past them ruining millions of peoples lives.

[Ocean1]

... it ain't my mum's fault, tis the fault of the professionals failing at their profession and missing that a GFC the likes of which had never been seen before happened to slip past them ruining millions of peoples lives.

Mashie doesn't play well with others.

Could try harder.

Please see me after class.

[mashman]

Mashie doesn't play well with others.

Could try harder.

Please see me after class.

I didn't do it. God made me do it.

[jonbuoy]

talk about not thinking things through. The "chores" aren't necessarily going to have people working longer than a 4 hour day, there will be another 20 hours in the day to jostle for position in the food queue . Also, the people who catch the snapper, cut the steak, produce the wine will have first refusal over what they produce. People can barter all they like, it's not going to be forbidden.

First refusal - that doesn´t sound fair - but ok - I´ll take a few hours in the gold smelting factory in the morning and a couple of hours at the oil refinery in the afternoon - (I don´t fancy the binman or funeral directors job though). That should give me enough bartering power to not have to queue up at the supermarket.

I wonder - would a litre of fuel be worth more or less than two prime cuts of meat? Damn the butchers got enough fuel already - I suppose I could try and swap the fuel for some new knives and swap the knives with the butcher for the meat. Damn I´m really going to need those extra hours in the day

[mashman]

First refusal - that doesn´t sound fair - but ok - I´ll take a few hours in the gold smelting factory in the morning and a couple of hours at the oil refinery in the afternoon - (I don´t fancy the binman or funeral directors job though). That should give me enough bartering power to not have to queue up at the supermarket.

I wonder - would a litre of fuel be worth more or less than two prime cuts of meat? Damn the butchers got enough fuel already - I suppose I could try and swap the fuel for some new knives and swap the knives with the butcher for the meat. Damn I´m really going to need those extra hours in the day

Wotcha gonna do with your gold and oil? And what is anyone else going to do with gold or oil?

Meanwhile, I'll be getting free fuel, will take what's on offer at the supermarket, will do what the community requires of me, will have free knives professionally sharpened, and will be working less hours than you. bon chance mon ami.

[gwigs]

Wotcha gonna do with your gold and oil? And what is anyone else going to do with gold or oil?

Meanwhile, I'll be getting free fuel, will take what's on offer at the supermarket, will do what the community requires of me, will have free knives professionally sharpened, and will be working less hours than you. bon chance mon ami.

Free fuel would become available in a resourced based economy..
New technologies would not be suppressed by big corporations looking after their profits.
Have scientists working on sustainability instead of better ways of killing people...
Fuel could be free..