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National studies reveal that average Americans know less about money matters than the Octomom knows about family planning. This may explain why the nation is now in an even bigger financial mess than Tom Cruise in “Risky Business.” In that documentary on capitalism, a pre-Scientology Cruise had to become a whoremaster in his own home in order to raise his bailout money. Members of my baby boomer generation never gave much thought to economics. We were too busy ushering in a new era of peace and harmony through song lyrics, like … “In-a-gadda-da-vida, honey/“Don’t you know that I’m lovin’ you?/“In-a-gadda-da-vida, baby/“Don’t you know that I’ll always be true?” /Doug Clark, SR. More here.
Question: What did you learn from your parents about household finances and the economy?
D.F. Oliveria is a columnist and blogger for The Spokesman-Review. Huckleberries Online was judged the best 2008 Idaho newspaper blog by the Idaho Press Club. And the best 2007 news blog in the Pacific Northwest by the Society for Professional Journalist. Print Huckleberries is a past winner of the Herb Caen Memorial Column contest by the National Association of Newspaper Columnists. The Readership Institute of Northwestern University cited this blog as a good example of online community journalism.
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Cindy_H on March 10 at 11:08 a.m.
My Dad said:
Save 10%
Give 10%
Budget the rest.
He also taught me to save for what I wanted, to pay cash, and to balance my checkbook every time I got my monthly statement.
I’ve followed all of his advice with the exception of balancing my checkbook each month.
He was a very wise man.
Charlie on March 10 at 11:32 a.m.
Try to always pay cash. Don’t be afraid to ask for a discount for cash and shop for deals. Wait at least 3 days to mull over large purchases, sometimes you really didn’t need them.
Stickman on March 10 at 8:21 p.m.
Nothing. I learned at a very old age, 62 that is, that we should save for the future. Too late for me, though I am sure most are stressing about how they will survive in this economy of late. Enjoy the day, not the money.
Escapee on March 10 at 8:49 p.m.
Don’t blame our misunderstanding of Things Financial on Song Lyrics from the sixties. How close-minded is THAT? As I recall, wasn’t there a stock market crash in ‘29, over four DECADES after In-A-Gadda-Da-Vida? That was a horribly stupid way of trying to make a point, Mr. Clark!
Escapee on March 10 at 8:50 p.m.
four decades BEFORE In-A-Gadda-Da-Vida….that’s what it should have read.
So I go making a good point and then I blow it. Oh well. neverrr mind……….