91–100 of 448 posts
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up to 30k, cover 100% by the central bank
Look, you do you, but rest assured that you don't get 11% for no reason.
> One thing that school doesn’t teach you (not even high school) is how to manage your personal finances. Can we stop with this myth? Most states require financial literacy courses to graduate. The reason it feels like it isn't happening is because it's boring and most just don't pay attention or absorb the lessons.
> Most states require financial literacy courses to graduate What's a state? Pretty sure we don't have those here. Even if it was true for America (probably not), it certainly isn't true for the entire rest of the world. Maybe they should be teaching Geography.
Financial literacy is a gift, and absolutely omitted from standard education, which is unfortunate. That said, I don't think knowledge of investment gets you very far if your job pays subsistence wages. I worked for a popular fintech focused on personal investment and their narrative was essentially "financial freedom through investment". I think it's important to understand that even the most sophisticated knowledge…
There’s an old story about Rothschild getting a haircut when the barber started giving him stock tips. Rothschild thanked him, left the shop, and immediately sold all his holdings. The reason was: “When even the barber is investing, the market’s gone too far.” I might be wrong, but reading this, I couldn’t help but think: if we’ve reached the point where we’re building apps to get our kids into investing, maybe we’re…
The reasonable interpretation of such a project is not to pump the stock market even higher by getting children to invest their savings into it, but to inculcate the habits of investing over time so they can do it properly as adults. I'm sure Mr. Rothschild would be fine with this learning tool.
At the point with investment I was lost. Children should learn to be patient (saving money) and prepare for bad situations (saving money). That’s enough. When older we can teach them what capitalism considers as investment. Capitalism is a longer word for greed. Money doesn’t work. Employees do. Customers pay. Both suffer to make greedy persons rich. Give them a piggy bank. Teaches the concept of preparation.
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> Most states require financial literacy courses to graduate What's a state? Pretty sure we don't have those here. Even if it was true for America (probably not), it certainly isn't true for the entire rest of the world. Maybe they should be teaching Geography.
My mistake, it's just such a common trope in the US I didn't realize it was a universal complaint. It is true for US incidentally, people generally don't remember it because a) the learning and real world practice are too far removed b) people often are poor with finances regardless of knowledge.
Now if only there’s an app that can teach delayed gratification.
Be careful with comparing real-life things and experiences with a (virtual) number on a screen, especially for children. I used to know an adult who only cared about that number going up, despite making more than a comfortable amount of money. Live with parents, save on rent/mortgage, number goes up faster. Buy cheapest food, take leftovers from work-catered lunches, number goes up faster. Scam your way into being hi…
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In what way are you doing that? Not that I disagree just curious how
The simple way would be to not "manage" your finances, don't build an investment portfolio. Have an honest work, live happily within your means and save whatever's left in cash.