I’ve been trying to instil this into the kids. Mr Kitty had always been amazing with money if it were left to me we’d be absolutely broke.I’ve realised something very useful recently- money is power.
What I mean is that having money means I can deal with eventualities and feel comfortable in my day to day life. Giving away all my money to crap pointless purchases means I have less of that power. I would rather look at my bank account and feel relieved that I’ve got a decent amount of cash in there than anxious because I’ve got fuck all and feel guilty for buying a load of crud. Having money makes me feel safe and less anxious. More reassured.
I was never guided as a child regarding finances, well, nothing in life really, I moved out at 17 and I’ve never got to grips with my own money until the last 4/5 years.
I’ve been looking to get a savings a/c for my son who is 15, for himself to manage his spending money and to allow him to transfer it from his current account. I was telling him how he will feel putting a bit away each month and how good it will be to save up for something and be able to buy himself without asking. After a quick look it seems you have to be 16 for some reason or get the standard one with me as joint account holder, which he already has. It’s so frustrating.
On another thread I recently spoke about the CTF which is about to mature and handed over to my 18 year old. Just like that, in her hand to go and blow, so irresponsibles of the government to hand money over like that!