RS -- Just some thoughts on learning new concepts; thanks for the support achatterbox. I didn't realize how many game players are teenagers or younger but hopefully they will become lifelong Wise Bread readers.
I have terminal cancer and am receiving palpative care. In the meantime, the bills are all being sent to my wife. I hold the full time job with insurance until such a time I go on disability. The billing department where I see the Oncologist, tells me this is normal. Are they looking for someone to hang the bills on when I am gone?
Wow, there is so much in this post to consider. You certainly could have made this a series!
My parents helped pay a sliver of my total tuition, but the benefit of not having my college education funded is that I worked HARD in school. I went to a school in another state, and knew that if I didn't do well in school and stay above ground financially, I'd have to go back home, which I didn't want to do. I had a LOT of motivation. Close friends of mine who had their college tuition funded by their parents? I don't know that any of them invested the difference. I do know that one of them failed every class one semester and the parents still don't know. It seems like such a waste of the parents' money.
With so many siblings, when we attended weddings growing up, my father would ask us if we liked how nice the wedding was. We'd all nod our heads. Then he'd tell us that we'd probably have to pay for it ourselves. So us kids would be only too pleased to help clean up after the reception. We'd come home with cheesy wedding decorations with our hearts set on using them for our own wedding! My parents did help out a tiny bit with my wedding, but I didn't grow up expecting them to foot the bill, so it was a pleasant surprise.
I think the most important thing that my parents gave me that has lead to my financial success in life is education in personal finance. They taught me well about credit cards before I was old enough to apply. They taught me about building up a good credit report before I even started college. I knew the value of compounding over time. I knew that when I got out of school, I'd have to start saving for retirement.
I was fortunate enough to fall in love with a field that pays pretty well, so I am only too happy to see some siblings get more financial assistance than me. They're hard workers, too, but in fields that don't pay as well, and live in areas with a higher cost of living. I love your advice about helping someone else get started. I am trying to help a sibling who just left the military find a house, and am willing to be a co-signer to help secure a mortgage and get a decent rate.
I don't have any children, but I really wonder how I would approach helping them out financially. I am far better off than my parents were, but I have seen too many examples of children who got too much help from their parents and therefore still don't know how to manage basic finances in their 30's.
What you describe comes under the heading of cultural capital. Your parents have social and intellectual advantages as well as buying power that they can and should pass along to their children.
Given the outrageous costs of housing, of automobile insurance (especially for young men), of basic education (a bachelor's degree today is comparable to my generation's high-school diploma), and the low pay most young people can expect to earn, there's really only one way we boomers can hope to see our kids stay in the middle class: that's to continue to help them well into adulthood. Tossing the kids into the icy water to sink or swim may (or may not) have worked for earlier generations, but just now it's not a wise policy.
Assuming your children are reasonably responsible (not doing dope, drinking, spending insanely, or otherwise diving off the deep end), this is not foolish altruism, controlling behavior, or "spoiling" them: it's just common sense.
What you describe comes under the heading of cultural capital. Your parents have social and intellectual advantages as well as buying power that they can and should pass along to their children.
Given the outrageous costs of housing, of automobile insurance (especially for young men), of basic education (a bachelor's degree today is comparable to my generation's high-school diploma), and the low pay most young people can expect to earn, there's really only one way we boomers can hope to see our kids stay in the middle class: that's to continue to help them well into adulthood. Tossing the kids into the icy water to sink or swim may (or may not) have worked for earlier generations, but just now it's not a wise policy.
Assuming your children are reasonably responsible (not doing dope, drinking, spending insanely, or otherwise diving off the deep end), this is not foolish altruism, controlling behavior, or "spoiling" them: it's just common sense.
However, I agree with Suze Orman: the best gift parents can give is for them to save enough money to fund their own retirement and old age before giving financial help or gifts to adult children.
My parents paid for uni (although it is considerably less expensive in the UK). They also paid for my flights home last year (I live in Canada) because they wanted to see me and I couldn't comfortably afford them at the time. I think partly because my older brother is still living at home, paying very little in rent, they feel they should continue to help me out. Also they make considerably more than I probably ever will based on my occupation
I appreciate knowing they are there if I need them, and always have, but I think for too long I used their generosity, so I'm saying no more often, although I think they'll at least contribute towards my next plane tickets home otherwise they might not see me this year at all.
My parents paid for college. That's probably their greatest financial contribution because I graduated from college with no debt and was able to build wealth right from the beginning.
old-fash rolled oats. 3 minutes in the microwave, add some raisins, perfect healthy meal. note OLD FASH oats, not the instant crap loaded with sugar and artificial flavorings. unfortunately this stuf retains heat like crazy so you have to let it sit for awhile before eating; it's like freaking magma, and watch the oven lest you have an eruption.
a new treat is skyr, an Icelandic fresh cheese that's similar to plain yogurt, but thicker, and it's too expensive for my budget, but if I could make it easily at home I would: low carb/fat, high protein, and it tastes pretty good.
"Now, over 22 million trees are being cut down in China every year to feed the industry and at the current rate of deforestation it is feared that there may be as little as ten years supply remaining. The deforestation already caused has been blamed for some of the huge flooding problems that have been experienced in China in recent years."
Great post! I'm in the meal planning/shop sales stage but I've been pulling off more pantry meals myself, I need to work harder in that area.
Oh, and we moved away from Ann Arbor in August and one of the things I *really* miss is my Calder dairy deliveries... really, such a treat and worth the $$ to me. *sigh* And I loved that they picked up the milk bottles. I could get "similar" milk here from the grocery store but I'm terrible at returning the milk bottles so I don't bother.
Runescape is great to learn about making goals, but it is not better than the huge online games like FFXII and World of Warcraft and Everquest. Runescape is great for a free, browser based game, but most runescapers who say that its better than world of warcraft have never even played it. WoW is just amazing, and is so much better than RS, but then again, you have to download it, and it requires high graphics cards and RAM. runescape is great for browser based games, but thats it.
Runescape is great to learn about making goals, but it is not better than the huge online games like FFXII and World of Warcraft and Everquest. Runescape is great for a free, browser based game, but most runescapers who say that its better than world of warcraft have never even played it. WoW is just amazing, and is so much better than RS, but then again, you have to download it, and it requires high graphics cards and RAM. runescape is great for browser based games, but thats it.
I love bugmenot and retailmenot a lot. On the same token you can get a disposable email address (good for 24 hr) in order to access a website that requires you to register by asking your email address. Just give them something@bugmenot.com and viola you are in.
May I add -
Bookmark several personal finance blogs and read them daily. After a few months, you will have been exposed to a wide array of opinions, thoughts, and ideas. Compare and contrast, pick and choose, and apply the advice that fits your particular circumstance. I know that I have learned more than I could have ever imagined - from sites like Wise Bread and other pf blogs.
Rock on,
NCN
David -- A couple of years ago, we bought a small upright freezer from Sears that fit nicely in our apartment closet. Though it's small, it holds a great deal.
I really appreciated this detailed history! I'm overhauling my own menu planning technique.
I found that I had gotten a little too comfortable in my pantry principle. If I didn't have the energy to rustle something up, nothing got eaten at home!
I've resigned myself to menu planning and using a portion of each budget to stock the pantry and freezer for future weeks.
Reading your comment about the bullfrogs in the market I wonder what else would you do with the frogs? I suppose you could keep them as pets but why would they discourage that and insist the creatures be consumed? :-)
Here in Seattle there is a huge asian market in the Chinatown area and they have some interesting things especially by the freezers! I should wander over there some day and see what canned treasures I could find. Most things are pretty mundane such as thin cookie-like sticks half covered in chocolate "Pocky!", but I am certain if I looked carefully I could find some more interesting items.
RS -- Just some thoughts on learning new concepts; thanks for the support achatterbox. I didn't realize how many game players are teenagers or younger but hopefully they will become lifelong Wise Bread readers.
I have terminal cancer and am receiving palpative care. In the meantime, the bills are all being sent to my wife. I hold the full time job with insurance until such a time I go on disability. The billing department where I see the Oncologist, tells me this is normal. Are they looking for someone to hang the bills on when I am gone?
This is indeed a thorough and informative post, Julie. Love the financial comparatives.
Wow, there is so much in this post to consider. You certainly could have made this a series!
My parents helped pay a sliver of my total tuition, but the benefit of not having my college education funded is that I worked HARD in school. I went to a school in another state, and knew that if I didn't do well in school and stay above ground financially, I'd have to go back home, which I didn't want to do. I had a LOT of motivation. Close friends of mine who had their college tuition funded by their parents? I don't know that any of them invested the difference. I do know that one of them failed every class one semester and the parents still don't know. It seems like such a waste of the parents' money.
With so many siblings, when we attended weddings growing up, my father would ask us if we liked how nice the wedding was. We'd all nod our heads. Then he'd tell us that we'd probably have to pay for it ourselves. So us kids would be only too pleased to help clean up after the reception. We'd come home with cheesy wedding decorations with our hearts set on using them for our own wedding! My parents did help out a tiny bit with my wedding, but I didn't grow up expecting them to foot the bill, so it was a pleasant surprise.
I think the most important thing that my parents gave me that has lead to my financial success in life is education in personal finance. They taught me well about credit cards before I was old enough to apply. They taught me about building up a good credit report before I even started college. I knew the value of compounding over time. I knew that when I got out of school, I'd have to start saving for retirement.
I was fortunate enough to fall in love with a field that pays pretty well, so I am only too happy to see some siblings get more financial assistance than me. They're hard workers, too, but in fields that don't pay as well, and live in areas with a higher cost of living. I love your advice about helping someone else get started. I am trying to help a sibling who just left the military find a house, and am willing to be a co-signer to help secure a mortgage and get a decent rate.
I don't have any children, but I really wonder how I would approach helping them out financially. I am far better off than my parents were, but I have seen too many examples of children who got too much help from their parents and therefore still don't know how to manage basic finances in their 30's.
What you describe comes under the heading of cultural capital. Your parents have social and intellectual advantages as well as buying power that they can and should pass along to their children.
Given the outrageous costs of housing, of automobile insurance (especially for young men), of basic education (a bachelor's degree today is comparable to my generation's high-school diploma), and the low pay most young people can expect to earn, there's really only one way we boomers can hope to see our kids stay in the middle class: that's to continue to help them well into adulthood. Tossing the kids into the icy water to sink or swim may (or may not) have worked for earlier generations, but just now it's not a wise policy.
Assuming your children are reasonably responsible (not doing dope, drinking, spending insanely, or otherwise diving off the deep end), this is not foolish altruism, controlling behavior, or "spoiling" them: it's just common sense.
What you describe comes under the heading of cultural capital. Your parents have social and intellectual advantages as well as buying power that they can and should pass along to their children.
Given the outrageous costs of housing, of automobile insurance (especially for young men), of basic education (a bachelor's degree today is comparable to my generation's high-school diploma), and the low pay most young people can expect to earn, there's really only one way we boomers can hope to see our kids stay in the middle class: that's to continue to help them well into adulthood. Tossing the kids into the icy water to sink or swim may (or may not) have worked for earlier generations, but just now it's not a wise policy.
Assuming your children are reasonably responsible (not doing dope, drinking, spending insanely, or otherwise diving off the deep end), this is not foolish altruism, controlling behavior, or "spoiling" them: it's just common sense.
However, I agree with Suze Orman: the best gift parents can give is for them to save enough money to fund their own retirement and old age before giving financial help or gifts to adult children.
My parents paid for uni (although it is considerably less expensive in the UK). They also paid for my flights home last year (I live in Canada) because they wanted to see me and I couldn't comfortably afford them at the time. I think partly because my older brother is still living at home, paying very little in rent, they feel they should continue to help me out. Also they make considerably more than I probably ever will based on my occupation
I appreciate knowing they are there if I need them, and always have, but I think for too long I used their generosity, so I'm saying no more often, although I think they'll at least contribute towards my next plane tickets home otherwise they might not see me this year at all.
I used retailmenot to save $80 off my wedding albums from Snapfish. I ended up paying $30 per album. It's pretty awesome
My parents paid for college. That's probably their greatest financial contribution because I graduated from college with no debt and was able to build wealth right from the beginning.
old-fash rolled oats. 3 minutes in the microwave, add some raisins, perfect healthy meal. note OLD FASH oats, not the instant crap loaded with sugar and artificial flavorings. unfortunately this stuf retains heat like crazy so you have to let it sit for awhile before eating; it's like freaking magma, and watch the oven lest you have an eruption.
a new treat is skyr, an Icelandic fresh cheese that's similar to plain yogurt, but thicker, and it's too expensive for my budget, but if I could make it easily at home I would: low carb/fat, high protein, and it tastes pretty good.
Actually, most are made of wood.
"Now, over 22 million trees are being cut down in China every year to feed the industry and at the current rate of deforestation it is feared that there may be as little as ten years supply remaining. The deforestation already caused has been blamed for some of the huge flooding problems that have been experienced in China in recent years."
Check it out: http://www.worthing.gov.uk/A-ZofServices/ServicesD-G/EnvironmentalIssues...
... the 'good old fashioned' way: by learning from somebody who actually made $7 million in 7 years, safely and ethically.
These days that sort of knowledge - and finding somebody who's willing to share it - is hard to find!
AJC.
... here's why.
Great post! I'm in the meal planning/shop sales stage but I've been pulling off more pantry meals myself, I need to work harder in that area.
Oh, and we moved away from Ann Arbor in August and one of the things I *really* miss is my Calder dairy deliveries... really, such a treat and worth the $$ to me. *sigh* And I loved that they picked up the milk bottles. I could get "similar" milk here from the grocery store but I'm terrible at returning the milk bottles so I don't bother.
Runescape is great to learn about making goals, but it is not better than the huge online games like FFXII and World of Warcraft and Everquest. Runescape is great for a free, browser based game, but most runescapers who say that its better than world of warcraft have never even played it. WoW is just amazing, and is so much better than RS, but then again, you have to download it, and it requires high graphics cards and RAM. runescape is great for browser based games, but thats it.
Runescape is great to learn about making goals, but it is not better than the huge online games like FFXII and World of Warcraft and Everquest. Runescape is great for a free, browser based game, but most runescapers who say that its better than world of warcraft have never even played it. WoW is just amazing, and is so much better than RS, but then again, you have to download it, and it requires high graphics cards and RAM. runescape is great for browser based games, but thats it.
Not valid is 2008? What gives?
I love bugmenot and retailmenot a lot. On the same token you can get a disposable email address (good for 24 hr) in order to access a website that requires you to register by asking your email address. Just give them something@bugmenot.com and viola you are in.
May I add -
Bookmark several personal finance blogs and read them daily. After a few months, you will have been exposed to a wide array of opinions, thoughts, and ideas. Compare and contrast, pick and choose, and apply the advice that fits your particular circumstance. I know that I have learned more than I could have ever imagined - from sites like Wise Bread and other pf blogs.
Rock on,
NCN
David -- A couple of years ago, we bought a small upright freezer from Sears that fit nicely in our apartment closet. Though it's small, it holds a great deal.
I really appreciated this detailed history! I'm overhauling my own menu planning technique.
I found that I had gotten a little too comfortable in my pantry principle. If I didn't have the energy to rustle something up, nothing got eaten at home!
I've resigned myself to menu planning and using a portion of each budget to stock the pantry and freezer for future weeks.
I can count on one hand the number of times they didn't have a coupon for a store. And in those instances, no-one else did either.
Mary,
Reading your comment about the bullfrogs in the market I wonder what else would you do with the frogs? I suppose you could keep them as pets but why would they discourage that and insist the creatures be consumed? :-)
Here in Seattle there is a huge asian market in the Chinatown area and they have some interesting things especially by the freezers! I should wander over there some day and see what canned treasures I could find. Most things are pretty mundane such as thin cookie-like sticks half covered in chocolate "Pocky!", but I am certain if I looked carefully I could find some more interesting items.
Bith Control!