Comments on: Are Parents to Blame for Financial Problems? http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/ Promotional Codes, Coupons & Deals + Money Saving Insights Thu, 24 May 2012 01:21:20 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: financial wellness project » the weekly carnivals, dbn, and pf blogosphere roundup http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-10441 financial wellness project » the weekly carnivals, dbn, and pf blogosphere roundup Mon, 27 Oct 2008 07:15:57 +0000 http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-10441 [...] wrote an article a few years ago about whether we should blame our parents for our financial problems.  he suggests that they are not wholly to blame, and lists 3 other influences.  the one that [...] [...] wrote an article a few years ago about whether we should blame our parents for our financial problems.  he suggests that they are not wholly to blame, and lists 3 other influences.  the one that [...]

]]> By: Do Personal Finance Magazines Appeal to the Average Reader? | Frugal Dad http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-7241 Do Personal Finance Magazines Appeal to the Average Reader? | Frugal Dad Tue, 23 Sep 2008 22:43:10 +0000 http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-7241 [...] mentioned before that I believe our public education system has done a rather poor job of educating our youth on the subject of basic personal finance.  Essential skills such as balancing a checkbook, [...] [...] mentioned before that I believe our public education system has done a rather poor job of educating our youth on the subject of basic personal finance.  Essential skills such as balancing a checkbook, [...]

]]> By: Jason Simon http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-3140 Jason Simon Mon, 09 Jun 2008 15:47:27 +0000 http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-3140 I don't feel that parents are to blame for financial problems. However, they certainly influence the attitudes their children have towards money. I have a few friends who have very wealthy parents, but their income doesn't compare. The parents are pretty nonchalente about money, and this has transferred over. While the parents can get away with it, my friends are in debt. Great post! I don’t feel that parents are to blame for financial problems. However, they certainly influence the attitudes their children have towards money. I have a few friends who have very wealthy parents, but their income doesn’t compare. The parents are pretty nonchalente about money, and this has transferred over. While the parents can get away with it, my friends are in debt. Great post!

]]> By: Teach Your Kids About Money With Only 4 Quarters | Frugal Dad http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-2386 Teach Your Kids About Money With Only 4 Quarters | Frugal Dad Wed, 14 May 2008 14:34:36 +0000 http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-2386 [...] Are Parents to Blame for Financial Problems [...] [...] Are Parents to Blame for Financial Problems [...]

]]> By: aj http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1646 aj Mon, 21 Apr 2008 18:33:29 +0000 http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1646 I do not blame anything about my financial situation on my parents...but I have to say I wasn't "taught" a darn thing as I was growing up. Money was not discussed (much like death, sex, or any other topic that would reveal any TRUE emotion or feelings...not that I was unhappy - just extremely sheltered!) When I got to Personal Finance in college I was like WOW! It all sounded so great! Start socking away money and by the time I am 50 I will be set! I would sit in class and dream of my nest egg growing and growing...but did I follow the examples and advice? NO...because I spent 10 years acting/reacting emotionally to all the things around me, married a man that just drug me down even farther and had to come close to hitting rock bottom before I realized that I had all the answers to my problems - I was just refusing to use the information or Just Do it! Now I have to dig myself out from under my debt just like I got out of my bad relationship. But I am open with my children about the facts of life, including money. And hopefully they will be so much wiser when they hit the "real world" that they will be ahead of the game. I also want to teach them to do what they love, not just settle for a job...and that Money is most definitely not Everything! And the ironic thing is that when you get to THAT point the money seems alot easier to come by! I do not blame anything about my financial situation on my parents…but I have to say I wasn’t “taught” a darn thing as I was growing up. Money was not discussed (much like death, sex, or any other topic that would reveal any TRUE emotion or feelings…not that I was unhappy – just extremely sheltered!) When I got to Personal Finance in college I was like WOW! It all sounded so great! Start socking away money and by the time I am 50 I will be set! I would sit in class and dream of my nest egg growing and growing…but did I follow the examples and advice? NO…because I spent 10 years acting/reacting emotionally to all the things around me, married a man that just drug me down even farther and had to come close to hitting rock bottom before I realized that I had all the answers to my problems – I was just refusing to use the information or Just Do it!
Now I have to dig myself out from under my debt just like I got out of my bad relationship. But I am open with my children about the facts of life, including money. And hopefully they will be so much wiser when they hit the “real world” that they will be ahead of the game.
I also want to teach them to do what they love, not just settle for a job…and that Money is most definitely not Everything! And the ironic thing is that when you get to THAT point the money seems alot easier to come by!

]]> By: The Writer’s Coin » Blog Archive » Our Financial Education: It’s never too late http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1275 The Writer’s Coin » Blog Archive » Our Financial Education: It’s never too late Thu, 10 Apr 2008 12:22:22 +0000 http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1275 [...] I’ve been reading several articles about this topic (one by Frugal Dad and another via Yahoo Finance) that got me thinking about the different solutions to the problem. [...] [...] I’ve been reading several articles about this topic (one by Frugal Dad and another via Yahoo Finance) that got me thinking about the different solutions to the problem. [...]

]]> By: Mrs.W http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1237 Mrs.W Wed, 09 Apr 2008 01:19:12 +0000 http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1237 My in-laws taught my husband nothing about money--but it's the military that he blames more than that. He feels that going in as a young enlisted man and receiving no financial education was a real problem. Throwing $200 a week at a kid who's never earned a dime, provide housing and food and it's all play money. The BX offers easy credit terms and of course every young guy wants a snazzy car... before you know it you've racked up several thousand dollars in debt and only earning $200 a week. Add to that the young guy is shipped away from home and family and boom! Next thing you know he's married with a family to support. Of course that's generalizing a bit, but I was a military wife for a good number of years, and I'm afraid my experience showed that very scenario to be more the rule than the exception (in the case of enlisteds). My in-laws taught my husband nothing about money–but it’s the military that he blames more than that.

He feels that going in as a young enlisted man and receiving no financial education was a real problem. Throwing $200 a week at a kid who’s never earned a dime, provide housing and food and it’s all play money. The BX offers easy credit terms and of course every young guy wants a snazzy car… before you know it you’ve racked up several thousand dollars in debt and only earning $200 a week.

Add to that the young guy is shipped away from home and family and boom! Next thing you know he’s married with a family to support.

Of course that’s generalizing a bit, but I was a military wife for a good number of years, and I’m afraid my experience showed that very scenario to be more the rule than the exception (in the case of enlisteds).

]]> By: Frugal Dad http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1210 Frugal Dad Tue, 08 Apr 2008 12:26:27 +0000 http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1210 @Math Teacher: Thank you for taking the time to comment, and for being a loyal reader. I was not admonishing teachers in my post, rather the system in which they are forced to teach. I agree with you that teaching to tests, increased class sizes, under-funding, etc. have all caused great harm to our public education system. What I am advocating is a "back to basics" movement where teachers DO teach things like personal finances, and other basic life skills. If legislators want to come up with tests on those subjects to hold schools accountable, so be it. Unfortunately, many parents are not qualified to teach their kids about finances, just as most parents would not be qualified to teach their kids math. That is what our public education was created to do - to create a society of well-rounded, educated youth. I have the utmost respect for teachers and the jobs they do. They are underpaid and underappreciated, and that is something we desperately need to change. @Math Teacher: Thank you for taking the time to comment, and for being a loyal reader. I was not admonishing teachers in my post, rather the system in which they are forced to teach. I agree with you that teaching to tests, increased class sizes, under-funding, etc. have all caused great harm to our public education system. What I am advocating is a “back to basics” movement where teachers DO teach things like personal finances, and other basic life skills. If legislators want to come up with tests on those subjects to hold schools accountable, so be it.

Unfortunately, many parents are not qualified to teach their kids about finances, just as most parents would not be qualified to teach their kids math. That is what our public education was created to do – to create a society of well-rounded, educated youth. I have the utmost respect for teachers and the jobs they do. They are underpaid and underappreciated, and that is something we desperately need to change.

]]> By: Mr. Debtbeater http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1208 Mr. Debtbeater Tue, 08 Apr 2008 12:14:24 +0000 http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1208 I grew up watching my parents do pretty well financially. I remember when they paid off their last debt, and took us all out to eat. (a rarity up to then) I did really well the first couple years away from home. It was the influence of peers, neighbors, strangers...basically everyone else that looked like they had it all on regular salaries. So I did it too! Now I'm sitting under a pile of debt and trying to teach my kids the same lessons. I really don't think it's the parents' fault, but they definitely have some influence opportunity in there to help prevent the disastrous pile of debt. I grew up watching my parents do pretty well financially. I remember when they paid off their last debt, and took us all out to eat. (a rarity up to then)

I did really well the first couple years away from home. It was the influence of peers, neighbors, strangers…basically everyone else that looked like they had it all on regular salaries. So I did it too! Now I’m sitting under a pile of debt and trying to teach my kids the same lessons.

I really don’t think it’s the parents’ fault, but they definitely have some influence opportunity in there to help prevent the disastrous pile of debt.

]]> By: Math Teacher http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1206 Math Teacher Tue, 08 Apr 2008 11:23:28 +0000 http://frugaldad.com/2008/04/07/are-parents-to-blame-for-financial-problems/#comment-1206 I have been reading your post for 3 months, this is the first comment I left because I was very angry to see that you sited a math class where students should learn personal finance. What more do you want me to do? Between standards and testing, schools are already to the breaking point. When does school become a catch all for all the problems in the US? They don't teach personal finance overseas, I know I have taught there, and they don't have the personal finance debt that we have in the US. It is a cultural and home issue and schools cannot be expected to fix everything. I have been reading your post for 3 months, this is the first comment I left because I was very angry to see that you sited a math class where students should learn personal finance. What more do you want me to do? Between standards and testing, schools are already to the breaking point. When does school become a catch all for all the problems in the US? They don’t teach personal finance overseas, I know I have taught there, and they don’t have the personal finance debt that we have in the US. It is a cultural and home issue and schools cannot be expected to fix everything.

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