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Household Finance 101

By
Real Estate Agent with Coldwell Banker Kivett Teeters CA BRE# 00693015

No, not Household Finance the company.....household finances in real life.  I seem to remember back in the day, when my parents were very, very frugal in their spending.  We didn't get everything we wanted.  Granted, we didn't have that much to want in the first place then. 

Then came the 80's, when I started my family, and everyone had boats, dunebuggies, campers, and the kids had Atari games, then Nintendo, skateboards, pagers, you name it.

NOW, those kids have newer houses, bigger toys, and more debt than some entire countries.  How did we get this way, anyway?  Did we fail to pass along our was of life?  Wasn't it supposed to trickle down?

Consequently, with all this debt, we have more foreclosures, more unemployment, more bankruptcies, more repossed toys, etc. etc. etc.

And, all the kids these days have so much more to want for, thanks to modern technology, advertising and the internet.  I am in no way saying that our modern society is bad, nor is all the wonderful technology bad.  It's just all in how we use it, I guess.

Posted by

Jean Hanley, Realtor

35 Years Experience

Coldwell Banker Kivett-Teeters

Southern California

951-553-5486

Barbara Hensley
RE/MAX Properties - Rockwall, TX
Homes for Sale in Rockwall County, Texas

I hear you!  Ditto!  Agree!  Often parents will give their children too much too soon, which is NOT in their best interest in growing up to becoming responsible adults.  Oh how to know exactly what is right!

Dec 30, 2010 11:50 AM
Bryan Robertson
Los Altos, CA

Many people, including kids, have a sense of entitlement.  They feel they deserve large flat-screen TVs, luxury cars, big houses, and designer clothes.  A combination of entitlement and status flaunting keep people spending money they don't have on stuff they don't need, just to keep up and image for people who aren't important. 

If more people would stop trying to "keep up with the Joneses" and be happy with the perfectly good things they have, we could break this cycle.

Dec 30, 2010 11:53 AM
Jean Hanley
Coldwell Banker Kivett Teeters - Hemet, CA
Specializing in Folks Who Want To Buy/Sell Homes

Barbara, ain't that the truth???? HAPPY NEW YEAR!!!

Bryan....here here!!!  I'm with ya!  Sure it's nice to have all the comforts....IF WE CAN TRULY AFFORD THEM...HAPPY NEW YEAR!!!

Dec 30, 2010 12:02 PM
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Coming from a family of 9 with my Father in the military, we didn't want for anything.  We all had bikes, a cottage, boats, fishing rods.  As we got older, we all had the correct jeans, running shoes, etc.   I didn't know we were not rich. 

Fast forward to today and the world as you describe it, frustrates me to no end.  Bryan above, says kids have a sense of entitlement -  how old do you get to be before you stop being a kid?  35, 40, 50? 

 

Dec 30, 2010 12:08 PM
Wendy Betts
RE/MAX PROGROUP - SOUTH DELTA /SOUTH SURREY & WHITE ROCK - Tsawwassen, BC
South Delta & S. Surrey Realtor

Great Post!  In this season of "Post Holiday Blow Out Sales" at irresistable prices... it is a good idea to ask:

"Do I NEED this?  or is it "Do i WANT this"

The answer to that question could save you a whack of money.  If you just WANT it, try walking away - if it is still on your mind in a few days - go back and see if you can get a better deal!  You are in a better place to negotiate if it isn't an "emotional" buy.

Saving is hard in this economy - so by spending less, you will be able to have the extra money for something you really need down the road!

Dec 30, 2010 12:13 PM