I wholeheartedly agree. Our consumer-led marketing manipulated society casts a massive shadow over the reality of just how much things cost and no sum of money is too big. When you're a child or teenager, you don't have the pressures of life on your shoulders, you don't realise just how hard things can be. You have no bills, little to no responsibilities and everything is so much easier.
I actually had this conversation with my wife the other day. We decided we would raise our child to be aware of just how much things cost and teach him from a young age to be successful in life and get the things you want, you have to work for them and that nothing is ever handed to you.
This is why I think it is important to instil good values into your children from a young age and teach them the importance of money, how it is earned and where it is spent. When they're old enough to do things for themselves, encourage them to earn money through chores but also ensure they do some chores for free. Maybe give them a few dollars for mowing the lawn, but make them do the washing up and clean their room for free.
When I was about 10, my father who is a small engine mechanic gave me a full can of fuel, a whipper snipper and a mower. He then suggested I go door-to-door and ask people in the street if they would like their lawn mowed for $15 (for a small yard). When the fuel ran out, I had to use my own earned money to buy more fuel, oil (for two stroke mixture) and whipper snipper cord. I remember one stage I had like $40, but I spent half of that on fuel, oil and cord.
Because of that experience my father taught me, I believe it actually made me grow up to be more conscious of money and taught me the basics of running a business and managing money. I have very little personal debt, I earn an okay salary and have some savings. Sadly, we're seeing the current generation getting into massive amounts of debt thanks to credit cards, expensive electronic items and even in-app purchases on our cellular phones.
I learned to be more budget conscious when I go shopping with my wife because I grew up going to the store with my mother who knew to go at a certain time of day to get discounted; fruit, meat and vegetables. The importance of buying in bulk, the importance of knowing what you want to buy by writing a shopping list before you even set foot in the store.
When I was growing up, money was a taboo subject that my parents didn't like discussing in-front of me and my siblings. I would see my parents sometimes argue about money, not very often, but I didn't really know first-hand some of the stresses until I got older and paid more attention. I wish my parents involved me and my sisters in the budgeting process so we could all be a little more grateful for what we had and the sacrifices my parents had to make raising us.
Honestly, I think the whole money subject should be taught in school. I know some schools do to an extent, but children need to be taught the honest basics and realities of everyday life financial responsibilities as an adult and the consequences of things like debt.
I actually had this conversation with my wife the other day. We decided we would raise our child to be aware of just how much things cost and teach him from a young age to be successful in life and get the things you want, you have to work for them and that nothing is ever handed to you.
This is why I think it is important to instil good values into your children from a young age and teach them the importance of money, how it is earned and where it is spent. When they're old enough to do things for themselves, encourage them to earn money through chores but also ensure they do some chores for free. Maybe give them a few dollars for mowing the lawn, but make them do the washing up and clean their room for free.
When I was about 10, my father who is a small engine mechanic gave me a full can of fuel, a whipper snipper and a mower. He then suggested I go door-to-door and ask people in the street if they would like their lawn mowed for $15 (for a small yard). When the fuel ran out, I had to use my own earned money to buy more fuel, oil (for two stroke mixture) and whipper snipper cord. I remember one stage I had like $40, but I spent half of that on fuel, oil and cord.
Because of that experience my father taught me, I believe it actually made me grow up to be more conscious of money and taught me the basics of running a business and managing money. I have very little personal debt, I earn an okay salary and have some savings. Sadly, we're seeing the current generation getting into massive amounts of debt thanks to credit cards, expensive electronic items and even in-app purchases on our cellular phones.
I learned to be more budget conscious when I go shopping with my wife because I grew up going to the store with my mother who knew to go at a certain time of day to get discounted; fruit, meat and vegetables. The importance of buying in bulk, the importance of knowing what you want to buy by writing a shopping list before you even set foot in the store.
When I was growing up, money was a taboo subject that my parents didn't like discussing in-front of me and my siblings. I would see my parents sometimes argue about money, not very often, but I didn't really know first-hand some of the stresses until I got older and paid more attention. I wish my parents involved me and my sisters in the budgeting process so we could all be a little more grateful for what we had and the sacrifices my parents had to make raising us.
Honestly, I think the whole money subject should be taught in school. I know some schools do to an extent, but children need to be taught the honest basics and realities of everyday life financial responsibilities as an adult and the consequences of things like debt.