Worth having a look at this, another site similar to the Government Site UNDERSTANDING MONEY
A BankWest sponsored website that provides useful information for people wanting to improve their saving habits, since the addition in June of a new parents’ section containing tips and tools to encourage kids to save.
Despite parents’ good intentions towards their kid’s savings and financial education, when it comes to their own savings habits they’re not as vigilant. An earlier national Newspoll survey commissioned by BankWest revealed that 1.4 million working Australians don’t save any of their monthly income, and on average people spend about twice as much time cleaning their homes as they do managing their finances3.
Says Paul Vivian, “As important as it is to teach children and parents about financial literacy, banks need to step up to the mark and provide the products and services to help people to save. Our Kids’ Bonus Saver account is encouraging children and their parents to save.”
According to money coach and author of “Smart Couples’ Guide to Money” Gay Curtis, “It’s great to see that parents have good intentions when it comes to their children’s financial futures, but parents need to lead by example and demonstrate they are practicing what they preach. It’s never too late to start learning how to be smart with money and the good news is it’s not too difficult. A great place to start It contains simple money tools and advice designed to get your finances on track.”
“Money is a currency, like electricity and it requires momentum to make it Effective”
Online Positive Cashflow and Renovating CalculatorsI think it’s too easy for our generation. We can get almost anything instantly on “interest free terms”. My parents raised me to only spend if I had the cash in my hand, yes we are European [biggrin].
I wish credit cards and personal loans didn’t exist so people would have savings accumulating instead of debt , whether they liked it or not!
Richest Man In Babylon should be compulsory reading before anybody ever recieves a pay cheque! [biggrin]
John Blackburn
http://www.propertybooks.com.auOriginally posted by manofaction:Richest Man In Babylon should be compulsory reading before anybody ever recieves a pay cheque! [biggrin]
Bah, I’ve never read it! I’d suggest Adam Smith’s 1776 classic ‘The Wealth of Nations’?
Beautiful prose too, though unnatural to the modern ear. I quote (vaguely relevent to property investment):
All the improvements in machinery, however, have by no means been the inventions of those who had occasion to use the machines. Many improvements have been made by the ingenuity of the makers of the machines, when to make them became the business of a peculiar trade; and some by that of those who are called philosophers, or men of speculation, whose trade it is not to do any thing, but to observe every thing, and who, upon that account, are often capable of combining together the powers of the most distant and dissimilar objects in the progress of society, philosophy or speculation becomes, like every other employment, the principal or sole trade and occupation of a particular class of citizens. Like every other employment, too, it is subdivided into a great number of different branches, each of which affords occupation to a peculiar tribe or class of philosophers; and this subdivision of employment in philosophy, as well as in every other business, improve dexterity, and saves time. Each individual becomes more expert in his own peculiar branch, more work is done upon the whole, and the quantity of science is considerably increased by it.Full text here (beware, don’t try to print it, it’s over 500 pages!):
http://www.gutenberg.org/dirs/etext02/wltnt11.txtCheers, F. [cowboy2]
Saving……my grandmother used to save money on the pension .
Said it was for her old age ! Bless her soul
Had a terrible time through the depression of the 30’s …..tough times i imagine ….and then another war . Melbourne was a tough place back then .
Thanks redwing -good post. The Aus govt site is great.
I don’t agree with Paul Vivian though; I think it is the SCHOOLS that need to step up and introduce money management/savings classes for the kids when they are old enough to understand how to use money. I think that the Aus govt site would be a good start for the schools to use with the slightly older kids.
Unfortunately, a lot of people teaching at the schools have bad money habits themselves and couldn’t help the kids I suspect – blind leading the blind and all that.
My 5 year old son has already been ‘brainwashed’ by me for 2 years. He gets all my spare change and runs to his money box to ‘save for my house’ he says. It is a good laugh to see the looks on the relatives faces when they give him money on his birthday and they ask him what he is going to buy, and he gives that answer.
There is a great book written by the property guru/spruiker John Burley called the ‘Money Secrets of the Rich’.
It is written for Australian conditions so is relevant to us, and all the companies/websites quoted in the book are in Aus.
It is brilliant – it covers absolutely everything from getting your finances in order, to eliminating debt, even buying insurances and cars. There are also some ideas for investing at the end.
Whether you like John Burley or not, this book is a must read for the unsavable.Cheers,
Marc.
[email protected]Originally posted by manofaction:Richest Man In Babylon should be compulsory reading before anybody ever recieves a pay cheque! [biggrin]
John Blackburn
http://www.propertybooks.com.auHere! Here!
Cheers,
Marc.
[email protected]Hello
When I was a kid in primary school someone from the ANZ bank came and gave us a little talk on money and saving. He also opened up a saving account pass book for each of us. Every Thursday my mother used to give me 2 shillings to put into my savings account. It was the start of a great saving habit.
Not a bad investment for the ANZ bank either as would you believe I am still with them. [smiling]
Maybe they should start something like that again.
Happy saving
Elka
You must be logged in to reply to this topic. If you don't have an account, you can register here.
