YES! My daughter's high school offers an Economics of Living course as an elective. I made it mandatory for her. I think it should be a mandatory course for all American high school students to take in order to graduate! Nobody needs to know what pi is, but everybody needs to know APR, FICA, and FICO are!
I second the benefits of less time spent cleaning. In 2 hours or less, I can get my house spic & span. We also have a small yard, and I love being able to have the entire lawn mowed, front & back, in under 45 minutes. Space is overrated.
I'm not sure that the cost of construction and/or renovations is substantially lower, since IME most contractors charge more per square foot for small projects to ensure their fixed costs are covered.
Great list! I love the idea to recreate a first date--that's really sweet. I have to disagree about the personalized romance novel though...coincidentally I just wrote up a little graphic about V-day gifts and personalized romance novels ended up on the mood-killing end of the spectrum. http://www.brassmagazine.com/blog/valentines-day-cost-benefit-analysis-r...
Bought a 950 square foot home 20 years ago, added on about 8 years ago - 440 square foot family room. All the other rooms are smaller (the house is about 100 years old, so rooms were not that bag). The family room get used a lot. We all hang out together there (two adults, two teens & one dog). I wouldn't want a bigger house. It's not too big, not too small, it's just right!
John Van Slyke
You are correct about not using aluminum. They have stainless steel pressure cookers. I really hope that was his intent. This is a repost, but I could not find it when first I sent it.
One only needs a big house because they amass a lot of little things throughout their lives. Once they unclutter their closets, garages, etc it is easier to see why they don't need more space. Also buying a bigger house increases overhead cost of the house like carpeting or hardwood floors and maintenance. Of course the upkeep of the entire home also requires more time & money.
Also with a smaller home you are probably more inclined to partake in DIY projects like upgrading the roof rather than hiring a contractor to do the work.
Very valid point Chris. I had never thought about that before. I could see how knowledge might not necessarily cause action. For example, people are constantly educated on the benefits of having a healthy diet, but many people don't utilize that knowledge. They instead pig out on junk food. I could easily see the same thing happening in regards to personal finance.
Awesome response Kris! Thanks for taking the time to give such an in depth answer! I am in complete agreement that if personal finance is taught in schools, the teachers better be extremely financially savvy. It would not be good to have the blind leading the blind when it comes to finances.
I've received three netSpend cards in the past two weeks at my house. They all had unknown names on them, with the first name "Jimmy." I'd imagine that an unsavory company like netSpend, located in the Texas sticks, thinks that if they make up enough names starting with a hick first name they'll eventually hit paydirt
Very interesting...Marketplace (Expose type TV show, here in Canada aired on CBC) just did a similar story. They actually staged an overdose right outside a hospital & also had many of the "drugs/medications" tested and very little of the actual ingredient was even found in the pills.
My favorite part of our small home is how easy it is to clean and find things. It takes only 1-2 hours for my husband and I to clean the entire place even after a party. If I lose something, there are only a very few places to look for it.
I can heartily agree with your first point, Kentin. Like Lenora who commented above, I went from small to big to small (a studio apartment to a four-story rowhome, and then back to a studio). When I lived in the rowhome, I amassed much more stuff than I needed (I ate by myself most of the time -- why did I need to take my parents' old set of eight coffee mugs and saucers?). Moving back into a studio was great because it forced me to figure out what I really wanted, so now I mostly own things I actually use.
Around Cubeville, I'm known for my brownies.
1 box brownie mix (Betty Crocker Original Browni Supreme is my favorite, but any will work)
1/2 the oil called for on the box
The amount of oil called for on the box of Hershey's syrup
The water and oil called for on the box
6oz semi-sweet chocolate chips (dark chocolate M&Ms can be used as well)
1 teaspoon vanilla
Mix it all together and very slightly underbake.
These are extra chocoately and everyone loves them.
After living in a 1,000sf bungalow with a family of four we were bursting at the seams. We bought a 3,100 sf house and we were lost in it. All the things you mentioned are right on. We sold it and bought a 1,300 sf house and it's just right. Finding what feels right is an individual thing. I love simple and basic, and that's what I have now.
Personal Finance is taught in schools as an elective class in many high schools. However, the psychological / marketing part of spending money is not taught in most schools. Therefore, we need to not only give the kids an introduction to managing money, but also an entire overview of the art of buying and selling. Unfortunately, this is not considered as important as Math, Reading, English, Social Studies, and the Fine Arts. Thus, you will not see change anytime soon in schools. The parent is ultimately going to be responsible.
I also live on the UWS and am SO glad that TJ's opened! I used to trek down to Union Square every month or two to stock up on the things I like there. I have absolutely no problem at all with lines if I go before 9am (if you go before 8:30am, you can walk right from the aisles to the registers with NO wait at all), and even by 10am it actually isn't too bad. Also, I am one of the few UWSers who doesn't like Fairway - everyone raves about it, but I've tried it on two different occasions and both times disliked it. Good selection, but still pretty expensive, and the store was PACKED. I'll take TJ's any day.
You bet personal finance should be taught in the schools! Early signs of self-control in children are good predictors of future health and success in life. (See my blog post about the "marshmallow test" on pocketchangebook.com.) So anything we can do to enhance children's ability to exercise financial self-control is warranted! Thank you for your blog post. It's an important topic to discuss.
Yes, it should be taught. I learned how to balance a checkbook in 5th grade math, but I never learned how to calculate the effects of interest until I took a class on project economics (not personal finance) in college.
YES! My daughter's high school offers an Economics of Living course as an elective. I made it mandatory for her. I think it should be a mandatory course for all American high school students to take in order to graduate! Nobody needs to know what pi is, but everybody needs to know APR, FICA, and FICO are!
I second the benefits of less time spent cleaning. In 2 hours or less, I can get my house spic & span. We also have a small yard, and I love being able to have the entire lawn mowed, front & back, in under 45 minutes. Space is overrated.
I'm not sure that the cost of construction and/or renovations is substantially lower, since IME most contractors charge more per square foot for small projects to ensure their fixed costs are covered.
Great list! I love the idea to recreate a first date--that's really sweet. I have to disagree about the personalized romance novel though...coincidentally I just wrote up a little graphic about V-day gifts and personalized romance novels ended up on the mood-killing end of the spectrum.
http://www.brassmagazine.com/blog/valentines-day-cost-benefit-analysis-r...
Bought a 950 square foot home 20 years ago, added on about 8 years ago - 440 square foot family room. All the other rooms are smaller (the house is about 100 years old, so rooms were not that bag). The family room get used a lot. We all hang out together there (two adults, two teens & one dog). I wouldn't want a bigger house. It's not too big, not too small, it's just right!
John Van Slyke
You are correct about not using aluminum. They have stainless steel pressure cookers. I really hope that was his intent. This is a repost, but I could not find it when first I sent it.
If history is any indication - give it a few years and a debate will brew about the detrimental features and "cookie-cutter" looks of the "McCottage".
One only needs a big house because they amass a lot of little things throughout their lives. Once they unclutter their closets, garages, etc it is easier to see why they don't need more space. Also buying a bigger house increases overhead cost of the house like carpeting or hardwood floors and maintenance. Of course the upkeep of the entire home also requires more time & money.
Also with a smaller home you are probably more inclined to partake in DIY projects like upgrading the roof rather than hiring a contractor to do the work.
Very valid point Chris. I had never thought about that before. I could see how knowledge might not necessarily cause action. For example, people are constantly educated on the benefits of having a healthy diet, but many people don't utilize that knowledge. They instead pig out on junk food. I could easily see the same thing happening in regards to personal finance.
Awesome response Kris! Thanks for taking the time to give such an in depth answer! I am in complete agreement that if personal finance is taught in schools, the teachers better be extremely financially savvy. It would not be good to have the blind leading the blind when it comes to finances.
I've received three netSpend cards in the past two weeks at my house. They all had unknown names on them, with the first name "Jimmy." I'd imagine that an unsavory company like netSpend, located in the Texas sticks, thinks that if they make up enough names starting with a hick first name they'll eventually hit paydirt
Very interesting...Marketplace (Expose type TV show, here in Canada aired on CBC) just did a similar story. They actually staged an overdose right outside a hospital & also had many of the "drugs/medications" tested and very little of the actual ingredient was even found in the pills.
http://www.cbc.ca/health/story/2011/01/14/marketplace-homeopathy.html
Yum, thanks for sharing - that sounds delicious! Can you clarify how much oil and water to use, though? I want to try making them!
My favorite part of our small home is how easy it is to clean and find things. It takes only 1-2 hours for my husband and I to clean the entire place even after a party. If I lose something, there are only a very few places to look for it.
You're welcome Tom!!!
I can heartily agree with your first point, Kentin. Like Lenora who commented above, I went from small to big to small (a studio apartment to a four-story rowhome, and then back to a studio). When I lived in the rowhome, I amassed much more stuff than I needed (I ate by myself most of the time -- why did I need to take my parents' old set of eight coffee mugs and saucers?). Moving back into a studio was great because it forced me to figure out what I really wanted, so now I mostly own things I actually use.
Around Cubeville, I'm known for my brownies.
1 box brownie mix (Betty Crocker Original Browni Supreme is my favorite, but any will work)
1/2 the oil called for on the box
The amount of oil called for on the box of Hershey's syrup
The water and oil called for on the box
6oz semi-sweet chocolate chips (dark chocolate M&Ms can be used as well)
1 teaspoon vanilla
Mix it all together and very slightly underbake.
These are extra chocoately and everyone loves them.
Cost is ~$5 for a 9x13 pan.
After living in a 1,000sf bungalow with a family of four we were bursting at the seams. We bought a 3,100 sf house and we were lost in it. All the things you mentioned are right on. We sold it and bought a 1,300 sf house and it's just right. Finding what feels right is an individual thing. I love simple and basic, and that's what I have now.
John Van Slyke
Yes, aluminum is bad. They do make stainless steal pressure cookers. I hope that was his intent.
Also checkout http://www.canvasprintsonline.com
Personal Finance is taught in schools as an elective class in many high schools. However, the psychological / marketing part of spending money is not taught in most schools. Therefore, we need to not only give the kids an introduction to managing money, but also an entire overview of the art of buying and selling. Unfortunately, this is not considered as important as Math, Reading, English, Social Studies, and the Fine Arts. Thus, you will not see change anytime soon in schools. The parent is ultimately going to be responsible.
i love that you have "clean the bathroom." it's so true...and i'd second that, with clean ANYTHING!
I also live on the UWS and am SO glad that TJ's opened! I used to trek down to Union Square every month or two to stock up on the things I like there. I have absolutely no problem at all with lines if I go before 9am (if you go before 8:30am, you can walk right from the aisles to the registers with NO wait at all), and even by 10am it actually isn't too bad. Also, I am one of the few UWSers who doesn't like Fairway - everyone raves about it, but I've tried it on two different occasions and both times disliked it. Good selection, but still pretty expensive, and the store was PACKED. I'll take TJ's any day.
Thanks for the mention Ashley. Really enjoyed your selection of posts here! Hope you were able to put some of the Super Bowl tips to work!
You bet personal finance should be taught in the schools! Early signs of self-control in children are good predictors of future health and success in life. (See my blog post about the "marshmallow test" on pocketchangebook.com.) So anything we can do to enhance children's ability to exercise financial self-control is warranted! Thank you for your blog post. It's an important topic to discuss.
Yes, it should be taught. I learned how to balance a checkbook in 5th grade math, but I never learned how to calculate the effects of interest until I took a class on project economics (not personal finance) in college.