Do you think you were educated enough about money?

hi Thea^^;; so far, i haven't been into a very difficult situation regarding money. when i was younger, i admit there had been times i need to borrow from someone very close or mostly to my mother. but after i got a job, i don't need to ask financial help anymore to someone. i have my first credit card last August and just applied for it for the purpose of booking flights. i never used it for shopping. i prefer to use cash. though some said, there are some points we earn when we use them. i wouldn't know. i'd better stay safe from using them.

Good question..I think I was..we have never made the credit card mistake so many friends and family seem to have. It amazes me when I see people put things like groceries on a credit card that I know they are barely making payments on. They will have eaten up their purchase long before they pay for it.with interest . We delayed buying our first home until we knew we could afford not only the payments but the taxes and the upkeep that go with owning one. I think money is the one thing alot of people don't educate their kids about nearly enough. I started with mine early, prompted by a comment my little one made one day when I told him I didn't have the money to buy something he wanted and he told me I still had checks. He's grown now and a good saver.

When I left home, was married and with a baby at 17, I knew how much money I would receive each week. I knew how much rent I had to pay, how much I needed to put away for electricity and what was left would go for food. I did not have a phone or a car. My shopping lists were worked out putting the baby first and worked out to the cent. Going out meant going for a walk. My husband, who was conscripted and away at training camp, would come home every now and then for a weekend and we would spend our time at home. So, while I was not educated about money, I was not stupid either and I knew that I would need to have money for rent, electricity and food. If I tried to pretend I did NOT know this basic stuff I would be a liar and a cheat. You don't get into debt unless you spend money you don't have. I think this is not only irresponsible but that it's cheating. I know credit card companies make it possible but anyone who spends money with no means of repaying it is a cheat.

I would say I wasn't educated about money at all. Not even a little bit...

I had no idea of finances when I was growing up and even through my twenties as well. I had learned that hard work was what it took to be successful and this is what I spent much of my late teens and twenties doing. I managed to save quite a bit of money, but I also spent it all quite quickly when I decided that I needed a break from working myself to the bone! I now understand the false value in swapping time for money and have learned to work smarter and not harder. This all started when I read a book called "What I didn't learn at school and wish I had". This led to an investment and business homestudy course run by the author of the book, Jamie McIntyre. He is an Australian who is controversial because he is a self made multi millionaire who is pushing the educational boundaries that have been set by the governments here for many generations. Basically the education system here and in many western counties has failed. They have spent many years teaching people how to get a job and that is all. They do not educate kids or adults on how to live a successful life. The system wants people to get by and that is it. If you look at most of the successful business people throughout the world, they were all considered failures at school because they did not conform with the system!

Hello thea09 this is checkmail and think am enough educated about Money by mine knowledge and mine elders teachings.Yeah it normally depends upon our ability to use the Money properly and efficiently.Think that our learning process in life never ends, still am going on learning new things about Money.Yeah there are always two sides to Money, we have to be aware as well as careful about it. So Money and its ways is never ending stuff in our life.

What did I learn from my mother? She was a penny pincher in the extreme. I've never known her to give. She would walk 5 miles to save a penny on a pound of mince. She bought the throw-out fruit and veg from a stall for a pittance and we had what could be salvaged from the rotten stuff. She cut up butcher paper and envelopes and sewed pages together for my school books. At the same time, she detested debt. As soon as the electricity or rates bill arrived by mail, she would rush to town (walking) to pay it - not one second to waste, even though there was a 14 day payment time. I suppose I was a mixture, having the same traits and yet also having the opposite. (rebellion?) When I started work, at a young age, because she "couldn't afford" to keep me at school, even though the teachers pleaded with her (I topped the school) I was desperate to get transport so I could spend more time away from the house. Since I worked at a car dealership, it was easy and I was soon able to spend all my waking life driving: the only place I ever felt safe and at peace. It took just about all my pay, with a little left for dresses, but I made them myself and could make a very nice dress for very little money. I soon received promotion after promotion and of course my wages went up considerably. I was able to pay off my car before the due time. I paid all the costs involved with my wedding, which left me with almost nothing when I married. I have never been in debt. I use a credit card for most purchases, but the full balance is paid each month, so I don't consider it a debt. I don't waste money but I don't begrudge spending it either. We eat the best quality meat, fruit and veg. We do not go without. We live comfortably but certainly not opulently. I like to get the best deal on anything I buy. I will chase specials (within reason) and I will bargain for bigger discounts when buying larger items.

Many People have had absolutely no training in money management as a Young Person or Adult,unless they've gone into finance as a career,and even then in light of the recession,that's not much better in some cases..I've posted other discussions mentioning Journo Martin Lewis and his UK based moneysavingexpert website and user forum,which has been a great help to Many-contributors post good deals and financial advice and tips on how to get yourself out of debt if You're in that situation,or how to stay out of it if You're not-He's an advocate of financial education being brought in to schools as a subject,and in his most recent (free!) email/newsletter recently,it looks as though wheels are turning that way..there's a free PDF downloadable booklet for Young People on the site to bring them up to speed with things they need to know when dealing with Money,Credit,etc..The thing is,Many mistakenly think Banks are there to help them get what they want by offering them easy credit..Banks are in business to make Money,and giving people credit cards galore and only expecting a minimum monthly payment in return seems like a good deal,until you realise that only making minimum payments on even a relatively low credit card balance can take 20+ YEARS to pay back!..and yet people still fall into this trap..I thought I was doing ok,having fully repaid several car loans over time,paying rent and then Mortgage payments, until I sat down and worked out what I actually owed-it was a shock,but I've pulled out of the downward spiral I hadn't realised I was on,have repaid and quit several of the cards I had,and am making inroads on the last few..If You're not sure of where You are Financially,get some advice and sort things out..it's for the best.

Back for a few hours! It is very hard...to get a tutorialship in financial matters, when one grows up up abject poverty. The only thing it teaches one is frugality...possibly a good lesson, with it's own share of pitfalls, as one harbors great fears of returning to that existence again, even tho' they have the tools to fall back on! I truly wish I had greater financing acumen...but honestly do NOT spend the time to gain it! I have a fear of the power of the almighty dollar! HUGZ & CHEERS!

I was always taught to work hard & pay your bills however, I have never learned to budget which was hard in the beginning as I was paying my bills & not leaving enough money to live on but now I find it easier to manage as I have been doing this for years.

No I don't think I understood or appreciated it enough. I think I just gave up on the bank and totally forgot about the credit card, so ended up with a lot of interest and debt. Luckily my husband and I paid all the debt I had off before we were married. I didn't want to mar his name too! So we went to the bank and got it all figured out and the lady there commended me on paying the debt off before we married. So now we have no debt and I appreciate money all that better. I think back and wonder where I went wrong. I know I spent a lot of money on friends that I no longer consider friends, and a lot of money I could have been using to pay off the debt. That no longer matters now though, I learnt my lesson. My husband and I will save and plan so as to never be in debt again. My husband and I will improve our credit in ways that we'll get a loan and pay the payments on time!

i think it very much depends upon the region you live in and the environment. out here we are taught two lessons - one - save for rainy day, and second - debt is a bad thing. falling into debt is considered a very bad thing here so by and large people are extremely cautious here. to an extent that credit cards are not very popular (many consider it a show-off). however debit cards are finding acceptance. gold is the first preference for investment (that itself assures a decent stability). in general when it comes to financial matters...most people here are very cautious.

...Hi thea, Hope everyone is well. Not at all, when you are young and you get your first credit card, you run out and charge to the moon not knowing what you can get yourself tied to. Kids in college are being given all kinds of credit cards, incurring debt that will take them years to pay off. In fact the business world and our financial managers in the government, even the Federal Reserve have shown that they don't even know enough about how to keep our books balanced. Look at the U. S. deficit. There needs to be more education all over the place. What is that saying "a little knowledge is dangerous". That is surely the truth. Take care.

Not Every one is wiser when it comes to spending money or earning it.It is an step by step by step process which makes us wiser where your downfalls would suggest you where you shouldnt invest your money any more or how to avoid risks and success helps your way to become rich and helps us understand how fruitful it would be if you work hard with strong determination..

I had my first education when I was young. I observed how people spend their money and why sometimes they seem to have a lot but still not spending a lot. Other than that, I also notice my love ones loving to save a little penny here and there, which I've seen reaching up to a point of $500 and more. So I have the mindset that those pennies truly work. The more we save, the more better it is. That's why I have the thought to keep on saving money; that's more awesome than anything else. Saving for a rainy day - I like that quote very much.

I think that i need to be more educated on things like mortgages or even investing. I think it would be nice if schools in SK would cover this more in their regular ciriculum as a life skill. More pratcial than some of the other things they teach. Budgeting, affects of bad credit or good credit, how to fix credit, mortgages and what different things mean when it comes to money would all be a good thing to teach. Its hard for parents to teach it because some of the parents dont know much in those areas either. I remember being quite surprised when i moved out on my own how many things required deposits and such - kids should be told that!

I think i have always beenpretty responsible w/money , i had to be & had a few pitfalls along the way of course. I bought my first house when i was around 30 & by then i pretty well had learned my p's & q's.

I must confess I am not really financially educated as I would love to be, however, I generally dont like to make commitments until I am very sure of what I am doing cause it is difficult to back out of such commitments

no, not very well. still up to this moment i am trying ways to same from my salary. i have not enough savings yet for my old age. i can say that i am not fully educated yet about money, however, i am willing to be educated.

From the past, there were too much fund were available to people, and they had taken it for granted. Like credit card and personal loans. They keep on borrowing money and spend them without a serious consideration of being indebted. That is the problem with our people, who borrow money and spend money irresponsibly. This trend should change, and we should learn how to spend our money wisely.