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A common but inane question. For kids without a mortage or stock portfolio, there's not much more to know than "spend less than you make," and "shop around."
by jimmyvalmer 5y ago
A common but inane question. For kids without a mortage or stock portfolio,
there's not much more to know than "spend less than you make," and "shop
around." The lesson is less about maths than it is about impulse control.
- MerelyMortal 5y agoImpulse control is import to teach/learn early on, probably before kids can even grasp the concept of money. I didn't downvote you, but I do disagree with your premise.
- dnilasor 5y agoYou need not look far to observe that "spend less than you make" (to your point, impulse control) is much to know, and that most people don't.
- jimmyvalmer 5y agoUnclear whether we're in violent agreement. Parenting is all about evoking interests whilst suppressing urges. Since money is a means of both its importance comes out in the wash, so to speak.
- AdamN 5y agoI think you two agree (as do I). So much of this thread is focused on stuff like interest, but spending less than you earn and knowing how to calculate risk over time are massively more general and useful skills to learn.
- jimmyvalmer 5y agoI'd keep it at basic inequalities like "does that cost more than what I have?" Tracking continuous-time risk is more a college thing.