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Author Topic: The right views on money  (Read 2223 times)

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Offline littleone

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The right views on money
« on: November 04, 2018, 12:26:28 PM »
As I was discussing insurances on another topic, I couldn't help but think about money and how our lives would always depend on it. As our children are getting ready to lead their own lives, what would you tell them about handling their finances? What kind of mistakes do you want them to avoid?

Empty Nest Moms

The right views on money
« on: November 04, 2018, 12:26:28 PM »

Offline MomOfTwo

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Re: The right views on money
« Reply #1 on: November 05, 2018, 02:20:49 AM »
What kind of mistakes do you want them to avoid?


My lesson for myself that I have shared with my children is that "money doesn't give us happiness". I tried to instill to my sons that we can be happy without money. My husband also told them that when we are happy with what we are doing, then the money will just flow in.

Offline haidyl

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Re: The right views on money
« Reply #2 on: November 05, 2018, 03:36:21 AM »
As I was discussing insurances on another topic, I couldn't help but think about money and how our lives would always depend on it. As our children are getting ready to lead their own lives, what would you tell them about handling their finances? What kind of mistakes do you want them to avoid?
Apart from the fact that money doesn't guarantee happiness, I have told them countless times, to always save for the rainy days. The culture of saving ensures that there is a fall back plan, if things don't work out, along the way.

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Re: The right views on money
« Reply #2 on: November 05, 2018, 03:36:21 AM »

Offline littleone

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Re: The right views on money
« Reply #3 on: November 05, 2018, 11:43:19 AM »
"How much is enough?" Money can get us far in certain situations. Money can get us happiness in some cases. I tell our son to always remember that balance without compromising our core principles. He needs to be financially strong, but I also hope he doesn't have to give up his hobbies or dreams to get there.

Offline MomOfTwo

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Re: The right views on money
« Reply #4 on: November 07, 2018, 01:01:55 AM »
I remember what my father told me regarding saving money. "A regular person will spend money on the things he or she wanted then save whatever is left. A wise person will save first for the things that are necessary for life, then spend the rest to what he or she wanted."

Offline haidyl

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Re: The right views on money
« Reply #5 on: November 08, 2018, 10:55:14 PM »
I remember what my father told me regarding saving money. "A regular person will spend money on the things he or she wanted then save whatever is left. A wise person will save first for the things that are necessary for life, then spend the rest to what he or she wanted."
What a great philosophy! Over time, I have realized that matters to do with money aren’t as complicated as we tend to imagine. My parents always insisted on drawing up a budget and sticking to it. Financial discipline is the pinnacle of financial freedom.

Empty Nest Moms

Re: The right views on money
« Reply #5 on: November 08, 2018, 10:55:14 PM »

Offline MomOfTwo

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Re: The right views on money
« Reply #6 on: November 09, 2018, 05:20:00 AM »
Discipline is the key word here. Without this word being practiced in our lives, then there is no use of good philosophies or principles. It is not easy to discipline self, but we can start with small things, like not buying snacks.

Offline noodle

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Re: The right views on money
« Reply #7 on: December 13, 2018, 09:00:59 AM »
At some point, I will talk to them about credit cards and how important it is to pay off the balances on those. My older one quickly learned how expensive day-to-day living can get, especially when he found out he was in the worst car insurance demographic!

Empty Nest Moms

Re: The right views on money
« Reply #7 on: December 13, 2018, 09:00:59 AM »

 

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