Like language, money is a symbolic system we use to communicate with each other. Kids’ exposure and sensitivity to language begins early, and the same may be true of money. The majority of opinions agree financial education ‘begins with children – the younger the better’. In the last post, we looked at what an important role financial education and family background has in influencing outcomes in life.
But where do – and where should – kids learn about money?
Are rich people rich because they’re smart?
Or to put it another way, are you not rich because you’re not smart enough?
According to a study conducted by the Joseph Rowntree Foundation, 69% of people believe ‘there is enough opportunity for virtually everyone to get on in their life if they really want to’. In other words, if you’re poor, it’s your fault.
Continue reading “Are the wealthy rich because they’re smart?”
Are you a lucky person? Start talking about the lottery, says Dorothy Rowe in The Real Meaning of Money, and pretty soon, you’re talking about magic.
Do you have good luck, or bad luck?
What’s your lucky number?
As we’re preparing to leave Japan after almost three months, getting ready to pack our bags, I find myself reflecting on the belongings we have with us, those we left behind, and the day we arrived in Osaka.
We got off the bus with our small backpacks and began walking down the road. Most people were struggling with heavy suitcases and multiple bags. As we continued on foot to a cheap restaurant where we could spend a few hours before our check-in, we passed a small trolley, probably belonging to a homeless person, impeccably organised. Expensive executive bags with specialty pockets and zippers and organising inserts would not come close to the precision with which the owner of this trolley had carefully stored their few possessions. An assortment of neatly stacked books. A row of well-organised toiletries.
Continue reading “How can I take better care of my belongings?”
If you’re in your 20s or 30s, chances are, you have thought of starting your own business. Almost 70% of Taiwanese employees between 21 and 40 want to set up their own businesses, and a University of Phoenix survey showed 63% of those in their 20s are either already or wanting to become business owners. Maybe digital nomads.
The lure of entrepreneurship appears correlated with age, possibly because those in their 20s have fewer responsibilities in the way of children or mortgages, they may have parents that are willing to financially support them, and they may deal better with the grueling hours required. I suggest, with the benefit of a couple of years’ experience, people in their 20s may also simply be less burned out by work. But Minda Zetin at Inc suggests that witnessing startup culture may be another important reason.
For someone who doesn’t drink alcohol, I sure spend a lot of time reading wine lists.
‘Freshly cut garden hose’. ‘Gasoline’. ‘Liquid Viagra’. ‘Pencil shavings’.
With descriptions like that, can you blame me?
When you’re forking out a lot for a one-off purchase it’s common sense to get a second quote. Maybe you’re about to have some new wardrobes installed. The first carpenter gives you a quote of $2,000 for the job. The next says they’ll build the wardrobes for $1,800. You feel pretty pleased with your $200 saving. But what about getting another quote on your toothpaste?
When it comes to everyday items, it’s less likely we’ll bother whipping out the calculator or opening up a spreadsheet. But using the same approach may be one of the simplest ways to save money without sacrificing your lifestyle.
Continue reading “Should you get another quote on your toothpaste?”
‘Pass me a Kleenex.’
‘Quick, get a Band-Aid!’
‘Got any Post-Its?’
Have you ever heard or said any of these? And more importantly… should you?
Continue reading “Would a tissue by any other name sell as well?”
In the 2016 US election (which was itself somewhat like a game of ‘Cards Against Humanity‘), candidate Hilary Clinton was accused of playing the ‘woman card’ by rival Donald Trump. In reaction, her campaign actually produced such a card. It boasted the dubious ‘benefits’ of lower wages, More expensive health care. No family leave, and ‘limited access to your own reproductive rights’. (Arguably no family leave is a circumstance that affects men as much as women. Framing it as a women’s issue only worsens the burden).
These cards were sold at $5 to fund Clinton’s campaign. Ironically, this resulted in Clinton literally playing the ‘woman card’ in her fundraising. But (aside from campaign funding) does it actually pay to play the ‘woman card’ in a financial sense?
Imagine you walk into a bar. A guy offers to buy you a drink.
Do you accept?
