Kids & Money

Discussion in 'Investor Psychology & Mindset' started by skater, 6th Nov, 2015.

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  1. Bayview

    Bayview Well-Known Member

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    22nd Jun, 2015
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    Inside your device
    I reckon it is more the norm that folks think, but I also think it is also a demographic thing; our area is mostly blue collar, younger families, tradies and retirees...yer "average wage" folks and "lower".

    Maybe your area is similar?

    Most of those slips I see are with low balances (I'm always picking the bloody things up to chuck in the bin :mad:).

    Seems to me that yer Mr and Mr.s Average are mostly living week to week, not much savings, probably CC debt and cars etc - not much has changed in the last 20 years I'd say.

    Mind you; if I had a few dollars left over each week, I'd be whacking it off the CC rather than leaving it in the Bank to earn a pathetic interest - so maybe they are all doing that?.
     
  2. Phantom

    Phantom Well-Known Member

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    23rd Jun, 2015
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    2,054
    Location:
    Sydney
    Yep. ..my area is blue collar mostly too. I'd have to agree that most would live week to week. But no shortage of new SS comos in the car park. We've been in this area for 30 years and would say that no much has changed as far as the way people live. Just gets passes down from generation to generation.