[bksvol-discuss] Re: ot getting out of debt--for parents
- From: Rogerbailey81@xxxxxxx
- To: bksvol-discuss@xxxxxxxxxxxxx
- Date: Wed, 20 Aug 2008 22:07:47 EDT
This is all very interesting, mainly because it is so alien from my
experience. I did not grow up with a regimen anything like this and I also have
never
had a problem getting into debt. I have just always been aware of how much
money I had in the bank and how much money I had on me and made purchasing
decisions accordingly. I have never felt the need to make a formal budget or
keep a written record of my assets. I have just always spent what I felt like I
could afford and when I didn't feel like I could afford to spend I did not
spend. This all leaves me kind of mystified at how anyone can get into
unmanageable debt. By the way, I have also never had a credit card either. I
have
never felt the need for one, but I will admit that when debit cards came along
I
embraced them as a great convenience. However, there is little chance that I
will become overdrawn with my debit card. I simply know how much money I
have in the bank and do not spend more than that. In a message dated 8/20/2008
5:05:32 P.M. Pacific Daylight Time, popularplace@xxxxxxxxx writes:
This message is for those of you with children, especially young children.
It's too late for those of you who got yourselves into debt and are now
getting or have gotten out--Congratulations to you, btw. It can't be easys to
change habits.
When my children were *very* young, say 3 & 4--the ages at which they'd ask
for money when the ice cream truck came by (Do they even have them any
more?) or for rides on those machines that are outside stores, or for things
they
might see in a 5 & 10-cent store (I don't suppose they have those anymore,
either), I was talking to a young woman in the park--she was probably in her
early 20's--and she was already in debt and complaining about it. I decided
right then to put my girls on an allowance--not tied to household chores or
anything--but from that weekly allowance, maybe it was a 50 cents or a
dollar--whatever would cover an ice cream--they would have to pay for their
own rides
and ice cream and anything else like that that they wanted. When they started
school, I increased the allowance so it would cover lunches that they would
buy a school--so if they wanted to save that money they could take a sandwich
from home. I remember one day when we went by
a Woolworth's and my younger daughter saw a wand or a whip that she
wanted--it was probably a dollar or a dollar and a quarter, and I said o.k.,
she cold
have it, but she'd have to pay for it herself. I'd lend her the money but
then she's have to take it from her savings--they had piggy banks. She thought
a bit and decided not to get it. Seeing the money grow--and hearing it--made
them reluctant to take money out unless they *really* wanted something--but
they were happy and proud to spend their own money on ice cream occasionally.
My husband and I always paid our credit card bills in full. When our girls
went off to college, they got their own cards. Apparently they didn't realize
that there was any other way to pay the bill when it came except in
full--until some of their college friends who paid off the minimum got fairly
heavily
in debt. I don't remember if I had told them that when you get the statements
you pay them or if it's simply that I didn't tell them anything and they
just read the top lines and the amount owed and never bothered to read or ask
about the minimum.
My point here for parents is that children are never to young to be taught
thrift. George and Bud and those of you who are close to my age will remember
that in grammar school (how's that for an ancient term for you young'uns to
add to your vocabulary) we had one day a week when we brought money to put
into savings accounts--at least we did at my school. I guess it was a program
with banks because we opened and had the accounts and the teacher kept the
books, as I recall.
I remember, now, too, that I did have my children open savings accounts at
the bank when they were young, and they put gift money and some of their own
savings in it. In those days children weren't charged for maintaining savings
accounts. I don't know if that's still true with some banks, but it should be
if it isn't. You might ask your bank. They felt very grown-up depositing
money. We explained all about how the money gets more money in the bank (not
so
much these days, unfortunately).
Cindy
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--- On Wed, 8/20/08, james.homme@xxxxxxxxxxxx <james.homme@xxxxxxxxxxxx>
wrote:
> From: james.homme@xxxxxxxxxxxx <james.homme@xxxxxxxxxxxx>
> Subject: [bksvol-discuss] Re: ot getting out of debt
> To: bksvol-discuss@xxxxxxxxxxxxx
> Date: Wednesday, August 20, 2008, 9:10 AM
> Hi,
> Not to drag this on too long. I decided to start going to
> Debtors Anonymous
> meetings and all though I am just in the beginning stages
> of dealing with
> this, I am starting to gain hope that it will help. With
> all the other
> things that have gone on with me in the last two years, I
> view this as a
> good thing. And, in case anyone wants to know, the
> opportunity to volunteer
> for Bookshare and rub elbows with the great people on this
> list has been
> such a blessing that I can't put it into words. Writing
> this is making me
> get a lump in my throat. OK , enough for now.
>
> Thanks.
>
> Jim
>
> James D Homme, Usability Engineering, Highmark Inc.,
> james.homme@xxxxxxxxxxxx, 412-544-1810
>
> "The difference between those who get what they wish
> for and those who
> don't is action. Therefore, every action you take is a
> complete
> success,regardless of the results." -- Jerrold Mundis
> Highmark internal only: For usability and accessibility:
> http://highwire.highmark.com/sites/iwov/hwt093/
>
>
>
>
> "E."
>
> <thoth93@earthlin
>
> k.net>
> To
> Sent by:
> bksvol-discuss@xxxxxxxxxxxxx
> bksvol-discuss-bo
> cc
> unce@xxxxxxxxxxxx
>
> g
> Subject
> [bksvol-discuss] ot
> getting out of
> debt
>
> 08/20/2008 10:00
>
> AM
>
>
>
>
>
> Please respond to
>
> bksvol-discuss@fr
>
> eelists.org
>
>
>
>
>
>
>
>
>
> Years ag I was in severe debt to the tune of several
> thousand dollars.
>
> I wrote down everything I spent by carrying a casette
> recorder and
> just inputting everything and I mean everything including
> the
> purchases for a dollar and under.
>
> I did nothing else. It helped tremendously. I got out of
> debt by just
> getting conscious of what I was doing which is where
> writing down
> things helps.
>
> I made no formal budget other than that and paid off the
> debt every
> week a little at a time until it was gone.
>
> Hope this personal input is useful to somebody.
>
> I have never been in debt since.
>
> Elizabeth
> E.
>
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