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re: How did you teach your kids financial literacy?

Posted on 3/26/20 at 1:18 am to
Posted by EA6B
TX
Member since Dec 2012
14754 posts
Posted on 3/26/20 at 1:18 am to
I believe people are born either “savers” or “spenders”, I was always a saver as a kid and adult, my brother was a spender, same thing with my wife and her sister, siblings raised in the same house, same parents, but polar opposite views on money.
Posted by LSUA 75
Colfax,La.
Member since Jan 2019
5131 posts
Posted on 3/26/20 at 2:14 am to
My parents and my wife’s parents were disasters with money,esp our dads’s .Me and my sisters and my wife and her siblings are all good money managers,we all had decent jobs and are relatively affluent.Our kids are all pretty much financial nincompoops.
What motivated our generation was growing up poor and deciding we didn’t want to live like that.Our kids grew not knowing poverty and they never learned the concept of delaying gratification for the future.
I tried to teach my step-sons about money but they never listened to that or anything else I tried teach them.One has gone bankrupt and the other one would if my wife didn’t prop him up.Same way my sister,she supplements her son’s income.
It’s a bad to keep adult children in a never ending state of dependency but it is what it is.
Posted by Boo Krewe
Member since Apr 2015
9810 posts
Posted on 3/26/20 at 9:00 am to
What do you mean by fed and slavery.
Posted by TigerinOkieHell
Oklahoma City
Member since Oct 2010
2874 posts
Posted on 3/26/20 at 9:01 am to
Subscribe them to wallstreetbets on reddit.
Posted by Chef Free Gold Bloom
Wherever I’m needed
Member since Dec 2019
1364 posts
Posted on 3/26/20 at 9:03 am to
I just tell them to study the last two decades of American fiscal policy and do literally the exact opposite of everything the government has done.
Posted by iAmBatman
The Batcave
Member since Mar 2011
12382 posts
Posted on 3/26/20 at 9:04 am to
you type like old people frick
Posted by GetCocky11
Calgary, AB
Member since Oct 2012
53509 posts
Posted on 3/26/20 at 9:05 am to
Maybe someone should teach the old people running our country some financial literacy.
Posted by Shexter
Prairieville
Member since Feb 2014
21836 posts
Posted on 3/26/20 at 9:06 am to
quote:

I believe people are born either “savers” or “spenders”


This

I have three kids, and attempted to teach them how to save last year. I told them whatever they saved, I would double at the end of the year.

Oldest kid pinched and saved $400, youngest kid spent in moderation and saved $150, and my middle child blew every last penny.
Posted by ItzMe1972
Member since Dec 2013
12897 posts
Posted on 3/26/20 at 9:06 am to
I was hoping they would by example.

But we probably gave them too much growing up.

Get them to exchange some labor for reward.
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