How important is 'financial education?'

[Texy]

came across this video, thought I would share

 

OPINIONS?

[MechEng]

This is what I would call selling a dream. 

[Ranvir]

Here in the UK a lot of working class people live in government owned homes and spend their money on alcohol, gambling and cigarettes. The schools should be teaching the children how to manage their money.

[velu]

Let your money work for you is totally absolutely certainly true ..

 

It's easy to make 2L per month with 20 - 50L capital ( provided the guy has some basic common sense and less greedy ) .

[Tattieboy]

15 hours ago, Ranvir said:

Here in the UK a lot of working class people live in government owned homes and spend their money on alcohol, gambling and cigarettes. The schools should be teaching the children how to manage their money.

What's the difference if they rent from council or private landlord ?

You are against freedom of choice ? Someone who earns their own money should be dictated to by someone like you on how to spend their own money? 

What is  wrong with working class ? Most people work so that makes them working class 

[Ranvir]

8 minutes ago, Tattieboy said:

What's the difference if they rent from council or private landlord ?

You are against freedom of choice ? Someone who earns their own money should be dictated to by someone like you on how to spend their own money? 

What is  wrong with working class ? Most people work so that makes them working class 

The people like this who are living paycheck to paycheck are often miserable, more so than the rest of the population. There is more crime, drug usage, violence and general anti social behaviour in council areas. Tell me where would you rather walk through at 11pm at night, a leafy suburb in Surrey or a council estate in Tower Hamlets?

Edited July 5, 2019 by Ranvir

[Tattieboy]

16 minutes ago, Ranvir said:

The people like this who are living paycheck to paycheck are often miserable, more so than the rest of the population. There is more crime, drug usage, violence and general anti social behaviour in council areas. Tell me where would you rather walk through at 11pm at night, a leafy suburb in Surrey or a council estate in Tower Hamlets?

You have not addressed any to my reply to your original post. 

Just to satisfy my curiosity were you born in the UK ? 

[Ranvir]

23 minutes ago, Tattieboy said:

You have not addressed any to my reply to your original post. 

Just to satisfy my curiosity were you born in the UK ? 

Yes I am born in the UK. I'm guessing you're not and hence why you don't understand the issues that working class people face due to poor financial/life decisions. My parents are from a working class background but due to their hard work, good choices and guidance me and my sister have had a better life.

 

They did not spend beyond their means especially on needless luxuries. There was no annual family holiday, no cable tv, no designer clothes. They saved and bought a house in a good area. Our first house was in a working class area and there was a lot of crime, anti social behaviour and even a murder or two.

Edited July 5, 2019 by Ranvir

[MechEng]

13 minutes ago, Ranvir said:

Yes I am born in the UK. I'm guessing you're not and hence why you don't understand the issues that working class people face due to poor financial/life decisions. My parents are from a working class background but due to their hard work, good choices and guidance me and my sister have had a better life.

 

They did not spend beyond their means especially on needless luxuries. There was no annual family holiday, no cable tv, no designer clothes. They saved and bought a house in a good area. Our first house was in a working class area and there was a lot of crime, anti social behaviour and even a murder or two.

Mereko pehle se shaq tha!

[Tattieboy]

10 minutes ago, Ranvir said:

Yes I am born in the UK. I'm guessing you're not and hence why you don't understand the issues that working class people face due to poor financial/life decisions. My parents are from a working class background but due to their hard work, good choices and guidance me and my sister have had a better life.

 

They did not spend beyond their means especially on needless luxuries. There was no annual family holiday, no cable tv, no designer clothes. They saved and bought a house in a good area. Our first house was in a working class area and there was a lot of crime, anti social behaviour and even a murder or two.

Actually I was born in UK and lived a lot longer than you in it .

Your original post was about what you think people should spend there money on . 

I am fully aware of the hardships of people in UK as I employ 500 of them I should be . 

There is the argument that people who spend their  money  on high taxed  items contribute much more to the treasury than someone who just puts it in the bank account .

Your second reply was a totally different topic of what is wrong socially in the UK . I am not going to argue against your points on that at all , only is it right people should dictate how others spend their money they have earned . ???

[Ranvir]

1 minute ago, Tattieboy said:

Actually I was born in UK and lived a lot longer than you in it .

Your original post was about what you think people should spend there money on . 

I am fully aware of the hardships of people in UK as I employ 500 of them I should be . 

There is the argument that people who spend their  money  on high taxed  items contribute much more to the treasury than someone who just puts it in the bank account .

Your second reply was a totally different topic of what is wrong socially in the UK . I am not going to argue against your points on that at all , only is it right people should dictate how others spend their money they have earned . ???

How can you make a statement like you have lived longer in the UK than me? You have no idea how old I am.

 

So you employ 500 people, I'm guessing you're minted. You don't employ that many people without good financial sense. You have made wise decisions in your life. However a person throwing his low salary away at cigarettes, gambling, holidays and designer clothes (that they cannot afford), expensive nights out is making foolish decisions that will leave them in a rut and often leads to depression. Low income areas throughout the world are rife with crime because people are not satisfied with that way of living.

 

People who are spending beyond their means may he helping the treasury like you claim but they certainly aren't helping themselves. There's nothing like owning your own house.

[Tattieboy]

22 minutes ago, Ranvir said:

How can you make a statement like you have lived longer in the UK than me? You have no idea how old I am.

 

So you employ 500 people, I'm guessing you're minted. You don't employ that many people without good financial sense. You have made wise decisions in your life. However a person throwing his low salary away at cigarettes, gambling, holidays and designer clothes (that they cannot afford), expensive nights out is making foolish decisions that will leave them in a rut and often leads to depression. Low income areas throughout the world are rife with crime because people are not satisfied with that way of living.

 

People who are spending beyond their means may he helping the treasury like you claim but they certainly aren't helping themselves. There's nothing like owning your own house.

Yes my personal choices now afford me things like spending long periods of time in places such as India but I am still uncomfortable in telling someone how they should lead their life and how to spend their money . 

If it's worth anything I do agree with you on all the rest but can we force people to live how we think they should . 

Btw I do hope you are older than me getting fed up as being thought of as  one of the oldest on here .

[Ranvir]

8 minutes ago, Tattieboy said:

Yes my personal choices now afford me things like spending long periods of time in places such as India but I am still uncomfortable in telling someone how they should lead their life and how to spend their money . 

If it's worth anything I do agree with you on all the rest but can we force people to live how we think they should . 

Btw I do hope you are older than me getting fed up as being thought of as  one of the oldest on here .

I'm almost 36. Yes I agree we can't be dictators and tell people how to spend their money but some guidance for children is good.

 

I have worked 'working class' jobs when I was a student, on building sites, call centres, data entry jobs and in quite a few of these jobs people have asked me if they can borrow some money because they have fallen behind rent or loan repayments due to overspending on things like holidays. I have never once experienced this in my IT career.

 

It's the same case with my father who is still a postman, he told me a funny (or pretty sad) story of one of his colleagues who had £5 left in his account that month, he spent that last £5 on a pack of cigarettes, a cup of tea and then the last 50p on horses. That is the sad reality of many working class people who live from paycheck to paycheck. Someone like that would have benefited from some financial advice. I'm guessing that your parents were like mine, gave you good advice, taught you discipline and encouraged you to do better than themselves but a lot of people simply don't have that at home.

 

I never look down on working class people, I never call them chavs like many middle class people do. We are a product of our environment, if those same people had been born in Surrey or Kensington then their situation would be much different. Poverty is a cycle unfortunately and this is where I think the government can step in to help guide less affluent people. I was happy to hear yesterday that William Hill was going to close 700 of their branches. These gambling shops are found all over working class areas and thrive on sucking money from poor people.

[beetle]

Yes.

Financial health is as important as physical and mental health.

 

Children have to be taught how to manage money.

 

Parents have to take the lead and let children make small financial decisions as soon as they can add and subtract.

 

A lot of Indian adults have no idea about how to manage the money they start earning necause parents tend to micromanage . 

 

These days every day there is news of some guy killing entire family and then commiting suicide. It is really sad .

[Tattieboy]

3 hours ago, Ranvir said:

I'm almost 36. Yes I agree we can't be dictators and tell people how to spend their money but some guidance for children is good.

 

I have worked 'working class' jobs when I was a student, on building sites, call centres, data entry jobs and in quite a few of these jobs people have asked me if they can borrow some money because they have fallen behind rent or loan repayments due to overspending on things like holidays. I have never once experienced this in my IT career.

 

It's the same case with my father who is still a postman, he told me a funny (or pretty sad) story of one of his colleagues who had £5 left in his account that month, he spent that last £5 on a pack of cigarettes, a cup of tea and then the last 50p on horses. That is the sad reality of many working class people who live from paycheck to paycheck. Someone like that would have benefited from some financial advice. I'm guessing that your parents were like mine, gave you good advice, taught you discipline and encouraged you to do better than themselves but a lot of people simply don't have that at home.

 

I never look down on working class people, I never call them chavs like many middle class people do. We are a product of our environment, if those same people had been born in Surrey or Kensington then their situation would be much different. Poverty is a cycle unfortunately and this is where I think the government can step in to help guide less affluent people. I was happy to hear yesterday that William Hill was going to close 700 of their branches. These gambling shops are found all over working class areas and thrive on sucking money from poor people.

Yes you are correct my values came from my parents , I played cricket to fairly high standard hence my India connection of seeing old friends there that I played with and against .I took that team and captain ethics into my business of we are all in this together and use of encouragement to better ones self instead of the stick treatment . I like you was glad to hear of the closure of bookies shops , never having been one in my life I think they are the scurge of the poorest in our society. 

Btw I am much much older  to give clue I played with guys when they played for Bombay not Mumbai and Madras not Chennai . As they would say in India Uncle well more Great Uncle