Living paycheck to paycheck - must be hard wired

[nutmeg]

Quote from ammo:

nutmeg, keep 20% of your kids check for a savings account, they will just be broke 1 extra day per week, tell them when the acct gets to $1000, they can take over. The feeling they get from being broke and not broke at the same time will give them a choice, hopefully they will see the lite

I'll tell ya, that's what I've been doing, probably why in the news you see the savings rate going up, single handedly my kids are doing it.

It is a struggle and often a fight to make them keep it in there. Often times I make them borrow from themselves, instead of putting the mandatory x% savings, they have to make up the amount next week.

 

[Propaganda]

"Living paycheck to paycheck - must be hard wired"

From observing a few friends over the years it seems to be true. They almost feel the need to spend their money before their next check or the blow it within days of cashing it.

They are young, no concept of the future, no ambition, conditioned by getting what ever they wanted from their parents, and have little real world bills.... impulse buyers. It makes me sick watching my friend KT purchase $160 dollar Ugh boots and a 200+ purse only to wear then for a few months. My shoes are over four years old I purchased them for $10 from goodwill and worn them 80% of the days owned. (sketchers) I joke with her I will see her boots at goodwill soon for a "buck fiddy" but I am serious. Then of course she complains all the time she is broke but she at least she looks stylish at it.

When I first started my real paying job (36k year) my first pay checks went to cover a few debts. then I started dreaming about material objects such as a screaming car stereo system... two 12's 1k amp... Then all of a sudden I realized how much that $750 dollars could return if invested. From my third paycheck I've saved about half. The only large cash purchase (other than car repair) I made was for a 2k PC system which I contemplated for months over. Now don't get me wrong, My 2k PC cost 12.5 ugh boots... so... yeah.

I have a concept of the future, ambition, goals, a gameplan, and now with a controlled budget a means. Most people do not have the above, just airconditioning, tv, and fastfood.


IDK about kids though... I would lost on how to teach children the value of money, work, and saving. Perhave give them a dollar a day an absolutely nothing else outside of the basics... if they want a toy, a party, to go to the zoo.... wow, that's harsh... it may shatter a child's innocence too harshly. Ugh, I am goin' to get some raincoats right now.