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Do you think

Predikuesi Avatar
7y, 11m agoPosted 7 years, 11 months ago
that kids born and raised during the recession years will value and appreciate what they have more than those in previous years? Some suggest that the recession, or at least the effects of it, will be felt for one or two decades.
Predikuesi Avatar
7y, 11m agoPosted 7 years, 11 months ago
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#1
I don't think it will make any difference at all. Now if we had another world war and were on rations again - that would leave a mark.

Even if you're skint the standard of living in the UK is superb.
#2
robtallica;4311037
I don't think it will make any difference at all. Now if we had another world war and were on rations again - that would leave a mark.

Even if you're skint the standard of living in the UK is superb.


I lean to this idea too. I wonder though if some parents will be as willing to fork out small fortunes on new high tech toys or continue to get themselves in debt to get them for their kids.
#3
i agree with both the above!
#4
Predikuesi
I lean to this idea too. I wonder though if some parents will be as willing to fork out small fortunes on new high tech toys or continue to get themselves in debt to get them for their kids.


I think people will curtail the spending a bit for the time being, cutting their cloth accordingly as it were. Problem is we live in a disposable society nowadays where people are convinced that they need to buy or replace things constantly.

Once the recession is 'over' as it were I think it will go back to what it was and probably always be in the modern age: manageable debt.
#5
the last recession when i was young taught me how to budget i was in my early teens and my parents were in the building trade in london we went 2 weeks without meat once just veggies in the pressure cooker lol my folks were totally open about it all and i would help mum with the budget so when i moved out at 16 i knew the score and was able to take care of my money a lot of kids nowdays dont appreciate the value of money
#6
Predikuesi
I lean to this idea too. I wonder though if some parents will be as willing to fork out small fortunes on new high tech toys or continue to get themselves in debt to get them for their kids.


no chance, thats why freemans and grattans catologues exist
#7
Some children still appreciate and value the things they have. Most of it is in the upbringing. My son understands when I tell him we can not afford something and is very good at saving for those things that are important to him.
#8
dmissy13;4311143
the last recession when i was young taught me how to budget i was in my early teens and my parents were in the building trade in london we went 2 weeks without meat once just veggies in the pressure cooker lol my folks were totally open about it all and i would help mum with the budget so when i moved out at 16 i knew the score and was able to take care of my money a lot of kids nowdays dont appreciate the value of money


Me too (but the 70s recession). I was an apprentice bookbinder earning the grand sum of £7.50 per week - of which I gave my mum £6.50. We did not have much as a family, though mainly due to my stepdad boozing his earnings away, but mum refused to borrow or go on the never-never. I think those years were an education for me and never resent not having what the other kids had.
#9
money is not everything. the less you have, it builds character and strengthens your will to live/survive and appreciate what you have, i think. if you're born into a family with money all around it's not going to make you a better person. yeah sure it's convenient but if we all depended on money to make a child happy then this world is doomed.
#10
well i am certainly thinking about what i buy for my kids in this current climate.

although i don't believe in letting kids know about money worries, they may tend to over analyse it and worry. especailly the senstive ones.
#11
as well as the recession , we have just got wheelie bins, which are small and collected once a fortnight. i think this will be having a big effect on how much i buy!!!!

our green wheelie bin is much bigger!!!!
#12
I think thats an interesting idea. It would be nice for my kids to learn more about the value of money, I don't think they're really aware yet. They dont fuss when I tell them they cant have something but really they aren't aware how much it costs to live as we do.

My husband is though. He got another PCN yesterday and I started telling him I worked all that day and didn't earn enough to pay off his notice. ****** me off...lol
banned#13
hellfire
Some children still appreciate and value the things they have. Most of it is in the upbringing. My son understands when I tell him we can not afford something and is very good at saving for those things that are important to him.


Definately.

kippy
money is not everything. the less you have, it builds character and strengthens your will to live/survive and appreciate what you have, i think. if you're born into a family with money all around it's not going to make you a better person. yeah sure it's convenient but if we all depended on money to make a child happy then this world is doomed.


Totally agree with this, I grew up in a poor family and it taught us to be resourceful and to take care of our possessions. I would have to save up my own cash and then add it to the amount my dad could afford for something: Shoes, clothes, push bike ect and then i would take care of that thing so it looked new long after my peers had destroyed the same thing of theirs.

I also bought things that were cool but timeless and not things that had a one season fashion lifespan.. still kind of do that now even though I can afford it... this just means i can save more for a house or spend it on something else.

My GF (kipps I got back with her in Portugal...:oops:) had exactly the same situation but her parents relied on credit and so did she.. when we got together she was madly in debt and so were her family, I helped her get out of debt (not by giving her money but by helping her cut her spending and pay off cards ect) but once she started work she had to take on the Mortgage for her mums house and pays over 50% of her net pay to pay off her parents debt... we broke up for a while and her spending went through the roof... but now we are back together I'm not helping her cut down again as i'm not her dad.. so i guess upbringing is a major factor and once credit is percieved as easier to get hold of parents will go back to their old habits and possibly spend even more on their kids to "make it up to them".

Nice topic though OP...:thumbsup:
#14
you're right about upbringing -- if the parents live on credit the kids tend to think it's okay. because parents dont really tend to transfer their stress of finances onto their kids, it's a false sense of security. i think of that film Billy Elliot where his dad (who was a miner) had to hack off their piano for firewood - gasp!

there are also cases where parents do transfer their frugal habits onto their kids. my dad for example, still goes on and on about health and savings lol, bless him. i remember my mom nagging me the next day after i finished my exams to go out and work, which is pretty harsh if you've always been an As student lol. think i started rebelling after that. i'd be considered quite extravagant in my parent's household lol (oh apart from my sis but she has loads of money saved!), but i am pretty good at saving too ... took me awhile to get the balance of saving and ensuring i enjoy life (thanks to the OH) otherwise i'd be silas marner! it's important to be able to do quality things with loved ones despite the recession.

finances can bog down a relationship because it involves two adults (and the kids sometimes). i know families who expect their kids to contribute back when they are working and indeed after they have families so it's ingrained! and give you a guilt complex. in some ways it makes you as the next generation have to do better than your parents.
#15
I think it will all depend on their parents and how they raise them, like with pretty much all things.

Recession or not, there are children that are taught the value of money and how to appreciate what they have and they grow up with this outlook. At the same time, you're still going to get the ones that expect absolutely everything, stamp and scream loud enough and get whatever they want then disregard it after 5 mins, and the cycle starts again for the next 'in' thing and the parent gets them what they want everytime meaning they grow up having no respect for the value of money and don't appreciate a thing as they get whatever they want so easily.
banned#16
I don't think I will ever have children of my own.

The recession and life are hard enough for me. :roll:
banned#17
kippy
you're right about upbringing -- if the parents live on credit the kids tend to think it's okay. because parents dont really tend to transfer their stress of finances onto their kids, it's a false sense of security. i think of that film Billy Elliot where his dad (who was a miner) had to hack off their piano for firewood - gasp!

there are also cases where parents do transfer their frugal habits onto their kids. my dad for example, still goes on and on about health and savings lol, bless him. i remember my mom nagging me the next day after i finished my exams to go out and work, which is pretty harsh if you've always been an As student lol. think i started rebelling after that. i'd be considered quite extravagant in my parent's household lol (oh apart from my sis but she has loads of money saved!), but i am pretty good at saving too ... took me awhile to get the balance of saving and ensuring i enjoy life (thanks to the OH) otherwise i'd be silas marner!


Its funny you say that, when my GF was on a gap year in Sydney her family sold her piano so they could buy her sister's new born a crib and other baby accessories.... pretty harsh I thought.. was thinking of buying her a new one one day...

I think balance is key, spending nothing makes life dull, spending too much obviously has its pitfalls.. "binging" is pretty bad too.. what i do is set aside a specific amount to save, and unavoidable spending then aim to spend a portion of what is left over on leasure/going out/buying tat :w00t: and the rest i put into another saving account and that is for things like big things i want or for emergencies... works for me!

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