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Old 09-21-2008, 01:46 PM
 
Location: In my view finder.....
8,515 posts, read 16,209,838 times
Reputation: 8079

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Yahoo! Personal Finance (http://biz.yahoo.com/usnews/080916/16_how_to_go_broke_like_a_rock_star.html?.&.pf=ban king-budgeting - broken link)
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Old 09-21-2008, 02:17 PM
 
697 posts, read 2,018,074 times
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EXACTLY, It's obvious people need a class like yours in high school. Not all people have the wherewithall and/or benefit of learning from their parents.
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Old 09-21-2008, 03:00 PM
 
Location: In my view finder.....
8,515 posts, read 16,209,838 times
Reputation: 8079
That's exactly my point for posting it.


Quote:
Originally Posted by 925mine View Post
EXACTLY, It's obvious people need a class like yours in high school. Not all people have the wherewithall and/or benefit of learning from their parents.
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Old 09-21-2008, 08:13 PM
 
697 posts, read 2,018,074 times
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It used to be that kids would move out and either go to college, or move out on their own at 18 or get married. Young people don't do that anymore, and a big part of the reason is they are not prepared to be on their own due to not knowing how to manage a home or finances.

The educational system is falling short not educating high school kids in the area of personal finance. Not even investing, but income and outgo, priorities and incidentals, etc..
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Old 09-22-2008, 07:18 AM
 
Location: Los Angeles Area
3,306 posts, read 4,165,084 times
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The educational system never taught kids out to do personal finance.

At least here in California a big reason kids don't move out at 18 is costs. You can't get a basic job and live on your own, you'd have to have roommates. But then why not just stay at home? Another reason which I suspect is true for most of the country is that kids have gotten spoiled and use to a high standard of living while living with their parents. Why move out into a crappy apartment, when you can stay in your parents nice home?

Anyhow, financial education is needed but I think most of the changes we're seeing are due to changes in parenting. Seems each generation gets more and more loosy goosy in the parenting department.
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Old 09-22-2008, 07:28 AM
 
148 posts, read 630,460 times
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I have couple of kids in my neighborhood who moved back in with parents after finishing college and getting a job! They are trying to save towards a downpayment of a Condo. Wish I were that lucky!
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Old 09-22-2008, 06:58 PM
 
Location: Foot of the Rockies
90,296 posts, read 120,998,172 times
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In the "Old days", a lot of people lived at home until they got married.
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Old 09-22-2008, 07:12 PM
 
3,631 posts, read 10,250,587 times
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Quote:
Originally Posted by ChicagoRon View Post
Yahoo! Personal Finance (http://biz.yahoo.com/usnews/080916/16_how_to_go_broke_like_a_rock_star.html?.&.pf=ban king-budgeting - broken link)
oh man i could live for YEARS on that kind of money.
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Old 09-22-2008, 07:49 PM
 
947 posts, read 3,143,382 times
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Quote:
Originally Posted by Humanoid View Post
Anyhow, financial education is needed but I think most of the changes we're seeing are due to changes in parenting. Seems each generation gets more and more loosy goosy in the parenting department.

I agree. Also, don't these Rock Stars have financial experts on their payroll?
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Old 09-22-2008, 08:33 PM
 
Location: Los Angeles Area
3,306 posts, read 4,165,084 times
Reputation: 592
Quote:
Also, don't these Rock Stars have financial experts on their payroll?
I don't know. Some of them do some pretty stupid things.

I think the issue is that celebrities are usually from normal families and simply weren't taught what to do with the kind of money they now earn. Where as kids in rich families will typically be taught about investing etc etc.

Anyhow, money management is really something you learn from your family. Teaching it in school is fighting an uphill battle when the parents don't manage their money well, the kids will in most cases simply mimic their parents.
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