Money Handling Skills

TrailerParkJawa · Post by **TrailerParkJawa** » 2003-08-24 09:55pm

Did your parents teach you good money handling skills? Did you pick them up from friends, learn the hard way? Dont have any?

Im just curious, my mom is bad with money. She makes poor decisions all the time. My dad hardly ever discuss' money. I make fairly good decisions with my money, Im not a big spender. About the only thing I have a hard time with is eating out. Its a big waste.

Anyway, I tend to think handling money is more emotional than logical. I mean how hard is it to understand saving is good. And not to spend 1000 bucks when you only have 500. What do you think?

Darth Yoshi · Post by **Darth Yoshi** » 2003-08-24 10:04pm

Rarely did I get money from my parents. When I did have money, I saved it for a video game that interested me. So I learned not to spend money on other things.

Joe · Post by **Joe** » 2003-08-24 10:05pm

Did your parents teach you good money handling skills? Did you pick them up from friends, learn the hard way? Dont have any?

I personally think I have pretty good money handling skills, which I credit to my parents. They've never been wasteful spenders, and I don't think I am, either.

It's interesting because both my mom and aunt were raised by the same parents, obviously, and my mom is very careful with money. Meanwhile, my aunt buys expensive houses beyond her family's means on the advice of a fortuneteller and has to sell government bonds before their retirement date to make ends meet. I think some people are just more prone to be idiots about handling money than others.

Im just curious, my mom is bad with money. She makes poor decisions all the time. My dad hardly ever discuss' money. I make fairly good decisions with my money, Im not a big spender. About the only thing I have a hard time with is eating out. Its a big waste.
Anyway, I tend to think handling money is more emotional than logical. I mean how hard is it to understand saving is good. And not to spend 1000 bucks when you only have 500. What do you think?

You'd be surprised, that's why so many kids leave college with massive debt (which is thanks in no small part to Platinum Usury, a.k.a. credit cards).

aerius · Post by **aerius** » 2003-08-24 10:15pm

Every year I end up with more money in the bank than the year before so I'd say I'm doing a decent job considering that I'm also paying my university tuition. There's only 3 things sucking away my cash, my bicycles, my tuition, and my love of music, and the 1st has been eliminated in the last few years with the "buy quality and only cry once" rule, as in buy the best stuff made and I'll never have to worry about breakdowns and fixing my bike while other less enlightened folks spend a thousand bucks a year keeping their bikes running. I've also avoided the GF money pit that some of my friends have fallen into, so yeah, I'm gonna go give myself a nice pat on the back on a job well done.

neoolong · Post by **neoolong** » 2003-08-24 10:20pm

TrailerParkJawa wrote:Did your parents teach you good money handling skills? Did you pick them up from friends, learn the hard way? Dont have any?

I learned the simple stuff like saving from my parents.

The rest I learned on the street.

Im just curious, my mom is bad with money. She makes poor decisions all the time. My dad hardly ever discuss' money. I make fairly good decisions with my money, Im not a big spender. About the only thing I have a hard time with is eating out. Its a big waste.

Eating out for me is more of a social thing as opposed to going out just to eat.

Anyway, I tend to think handling money is more emotional than logical. I mean how hard is it to understand saving is good. And not to spend 1000 bucks when you only have 500. What do you think?

I don't know if just wanting something really bad is considered emotional.

TrailerParkJawa · Post by **TrailerParkJawa** » 2003-08-24 10:25pm

Durran Korr wrote: I personally think I have pretty good money handling skills, which I credit to my parents. They've never been wasteful spenders, and I don't think I am, either.

It's interesting because both my mom and aunt were raised by the same parents, obviously, and my mom is very careful with money. Meanwhile, my aunt buys expensive houses beyond her family's means on the advice of a fortuneteller and has to sell government bonds before their retirement date to make ends meet. I think some people are just more prone to be idiots about handling money than others.

This adds to my theory that bad money handlers often are trying to meet some emotional need and are not always dumb. Don't get me wrong, some are idiots. Its just that I know a few folks pulling down 80K + with no savings, no home, nothing.

You'd be surprised, that's why so many kids leave college with massive debt (which is thanks in no small part to Platinum Usury, a.k.a. credit cards).

I ended up with about 5-6K in debt at the end of school. Part of it was increases in tuition that I covered with my cards. Part of it was poor choices on my part about jobs and how to handle what little income I had during college.

One thing Ive had trouble with is taking an oppurtunity when I should and instead playing it safe. ( meaning not taking a higher paying job to keep the one I know. )

Post by **Ghost Rider** » 2003-08-25 01:08am

Learned most of money handling from mom.

As for my thoughts on it...all depends on the needs versus wants, and so far needs win many many more times(unless it's a tax return and a very nice TV).

Crayz9000 · Post by **Crayz9000** » 2003-08-25 01:15am

Well, my parents never gave me an allowance, instead opting to give me money for doing things such as yard work and house chores. So I quickly learned to save up.

That said, I'm more than a little peeved at losing $110 on blown concert tickets...

Agent R · Post by **Agent R** » 2003-08-25 02:17am

Crayz9000 wrote:Well, my parents never gave me an allowance, instead opting to give me money for doing things such as yard work and house chores.

Same here, except it was for grades and awards, not chores.

I tend to save obsessively and I'm one of those people who constantly scan the ground for loose change (my friends make fun of me for banging into signposts and lightpoles because of that). I always find myself out of money even though I don't buy a lot because the stuff I'm after is always horribly expensive.

Zoink · Post by **Zoink** » 2003-08-25 10:36am

My parents would get a family allowance check for simply having kids, courtesy of the Quebec gov't. It amounted to $100 a month, which was given to us as allowance, split with my sister. We were required to do various house chores, and in the summer *all* the house chores.

This was about 12/13 years old, prior to that my allowance was $2 a week.

Soontir C'boath · Post by **Soontir C'boath** » 2003-08-25 11:13am

My allowance is now 20 dollars. I don't usually buy anything unless I truly need it such as food but things such as games and non-neccessities are a no no.~Jason

TrailerParkJawa · Post by **TrailerParkJawa** » 2003-08-25 12:17pm

Zoink wrote:My parents would get a family allowance check for simply having kids, courtesy of the Quebec gov't. It amounted to $100 a month, which was given to us as allowance, split with my sister. We were required to do various house chores, and in the summer *all* the house chores.

This was about 12/13 years old, prior to that my allowance was $2 a week.

The govt cuts you a check for kids simply for being there? WTF? Its not like a tax credit right? But a check. Holy Socialist Paydays Batman!

Zoink · Post by **Zoink** » 2003-08-25 12:53pm

TrailerParkJawa wrote: The govt cuts you a check for kids simply for being there? WTF? Its not like a tax credit right? But a check. Holy Socialist Paydays Batman!

Not a tax credit, a check sent in the mail.

I'm not sure if its still going on (I think it is, but I think they've changed it), but: the gov't would pay you to have a kid. Something like $1000 first kid, $2000 second, then you'd get a monthly check. The check got smaller as the kid got older, and they stopped paying when the kid reached 18.

Communism at its best!

Zac Naloen · Post by **Zac Naloen** » 2003-08-25 02:15pm

is spending my entire pay check in a day on the latest technological gadget a bad money handling skill?

TrailerParkJawa · Post by **TrailerParkJawa** » 2003-08-25 02:37pm

Zac Naloen wrote:is spending my entire pay check in a day on the latest technological gadget a bad money handling skill?

Not unless you do that every paycheck. Nothing wrong with treating yourself to something. It also depends on the size of your check. If you make minimum wage, most tech items are going to be really exepensive. If you make 30 bucks an hour then spending the entire check might not be a good idea, but again it depends on lots variables.

Zac Naloen · Post by **Zac Naloen** » 2003-08-25 02:50pm

Not unless you do that every paycheck

Sometimes i spend it all on dvd's, Those aren't THAT new

But yeah. i only get a £160 on average for the month, working just 8 hours a week.

I have nothing else to spend my money on, apart from my social life.

Lord Pounder · Post by **Lord Pounder** » 2003-08-25 02:53pm

I'm gradually learning to save money. I'm the type of guy who's believes that money is for spending. I live with my parents, for now, but i really want my own place and the best was to get my own place is to save up a few grand so i can make a good deposite on a place. As such i have abandoned many of my old habbits, I.E. walking out of work at lunch time, going to the hole in the wall and spending the money in HMV.

Zac Naloen · Post by **Zac Naloen** » 2003-08-25 02:55pm

^ thats what i tend to do lol

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Money Handling Skills

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