Category Archives: UK

And this Club

My Blog and my book, are all refutations of your earlier statement that wealth and profit are the cause of advances. . . These are all funded out of my own pocket, and in my “spare” time. . . and in the last 2 years I’ve incurred nearly £15,000 in legal fees to keep ElticUK from getting the contents of my computer hard drive. . .

This is a great discussion!

And WHERE do all those federal, state, and other government grants come from, and where do the taxes that support them and the agencies such as NIH come from? Jobs.
Working people. Investors. And ALL of those are OUT of a job, WITHOUT work, and WITHOUT an investment without…yep… business (and businesses–while I appreciate your distinction, I think it is a false one.)Beyond that, consider that the biggest investors in the stock market (thus the biggest capitalizers of business) tend to be union pension funds and mutual funds, which primarily use the money of “little people” and pool it to make major impact.

One thing re the England and Wales  tax cuts you cited, which I, as aEngland and Wales, also viewed and lived under/with. The FACT is that this isn’t why schools decayed or were under funded. The revenues go UP under real tax reform, just as they did when JFK put thru similar tax cuts (the point being that its not a Republican/Democrat issue) because the incentive to work and invest goes up, jobs and employment increase, and the tax base rises even as rates on any one individual effort decline. The reason the schools got in trouble is that the funds, which were overall larger, were ALLOCATED to other things. Its not a matter of tax cuts, its a matter of spending priorities. Ready to got quid? Try quick cash loans from PurpleQuid. We all have an obligation to be involved, to pay attention to politics, and to vote for and work for those whose spending priorities match our own view of what’s best for our society as they administer OUR money–and that’s the point. Tax money, government money, is OUR money spent FOR us BY OUR public “servants.” Just as in business, when CEO’s spend the money they steward for stockholders or investors, the “due diligence” is an obligation on the investor/taxpayer, and when we fail in that, we suffer….just as, to bring things back to the topic of this forum, when we fail to investigate a “wonderful business opportunity” or the ethics of its leadership, we suffer from financial and ethical privation and become victims and, thankfully for those here, survivors of such skullduggery.

This forum is the best “ray of light” into that dark closet called MLM and serves, in effect, the analogous process that journalism, when diligent, does with government and with business.

MoneyAdviceservice.org.uk

But please don’t get cynical about “businesses” or business. The freedom to pursue them, even with all of the flaws, is why people swim oceans and cross deserts to get IN to America, and why the lifestyle here, even with all the “crap” and the fast food, is the dream of most of the population of our planet. And re. that crap and food–freedom to be excessive is a freedom too, and just because following through on a freedom may cause you pain (ditto alcohol, fast driving, indiscriminate sex, etc. etc.) doesn’t make the freedom any less valuable or any less free.

I’m not sure what is right, to be honest

I gave my now much older children a set amount when they were in high school to cover clothing, beauty/hair cuts, entertainment and gas. I honestly can’t say that it drove the concept of budgeting in for them as young adults as we’d hoped. On the flip side, my youngest children have grown up constantly hearing that impromptu wants of theirs aren’t in the budget. They completely accept this and stop asking for things as soon as we remind them of our budget. We also tell them all the time to put things on “the list” when they ask for extras. (i.e., my little girl will say, “Momma, can I have this stuffed bunny?” I’ll say, “O.K. sweetie, let’s put it on the list!” She’ll get excited, and that’s the end of the conversation. Works everytime! lol). They’re both good with this, too. The thing is, we do, every once in a while, tell them that we have a surplus of money, and what would they like to buy that is on their list? We also give them opportunities to earn money for certain tasks, but the ironic thing is that they never want to spend the money they earn themselves. They’ve also learned that there is a reason we save money. Last year, as a lot of you know, we took them to Finland to meet the real Santa Claus and to ski. They know we saved and saved for that trip. Right now we’re saving to go to the UK so that we can go to every amusement park that Peppa Pig and Thomas the Tank Engine has rides at, and we will do this. The children have decided they really want to do this, and they know we have to save (again) to do another one of these fun family trips. We choose short term and long term goals as a family and make sure it happens. I think this is why our saying that something isn’t in the budget is an acceptable answer to our children, and why they are willing to stop bugging us for things, and are willing to earn money for individual tasks rather than our just handing out money on a weekly basis. I don’t know the answer is as to whether allowances and commissions are the way to go, I just know what seems to work for us, and what hasn’t worked for us (doling out the money for the bigger kids and yet they still can’t budget, even while they are in their 20’s). I think you just have to mess around with different things and see what works successfully with your children and for your family.

Double their age?

Oh my, then we are cheap. We give 1/2 their age per month, so our 10 year old gets $5.00. BUT that has always been fun money only. I am seriously thinking of giving them a huge increase but then requiring them to pay for all their own stuff. I know a family that gives kids a huge allowance but the kids pay for everything thing themselves. Especially clothing! I like the idea, but I think we would have to work up to that gradually with my crew.

I agree that children should have money to manage, otherwise how will they learn to manage money

They need to have tangible money and a means to conduct their own transactions -even as we move more into the digital age. They should have responsibilities or allotments for their money such as giving and saving, spending they seem to pick up quite easily. As far as how much to give them, and what to call it when you give it to them (Allowance, commission) and whether you pay them for their chores,grades etc… I don’t really have an opinion.

I will say when my daughter was younger – I put her to work managing the money and paid her for it. She paid real business expenses, balanced my real books etc, opened the mail, made note of how much electricity and gas and other utilities and necessities were etc.I reasoned I was employing her at the same time I was teaching her. I think if I hadn’t had a business, I would still have become creative enough to pay her to actually do the work and learn from it. I see I failed her in the grocery shopping department – but then I always hated going to the grocery store and rarely made lists. She’s in the situation now where she has to carefully budget and grocery shopping /planning is a problem for her.

That’s a really interesting idea, double their age

I know Dave likes the “pay as you work” commission program, but honestly, I’ve always found that to be so much maintenance, esp when the kids were younger, that I stopped doing it too many times.

Not saying my kids didn’t work around the house, nor did they get money just for existing, but a “you work around the house to help upkeep and be part of the family” then you get to share in the prosperity as well. Cuz for sure they get to share in the ‘recessionary times’ as well.

What do you all think about these statistics for allowances?

My 12 year old uses about $10 a week on average for activities on the weekends. The two younger don’t use much of anything except infrequently. I used to give allowance once a month. It was based on age. They got double their age per month. So the 7 year old got $14 a month, but it was split into three categories. Give, Save, and Spend. I’ve fallen off the wagon giving them their allowances and want to start again. I’d like to hear what other parents have been doing to teach their kids about money, saving, finanaces, investing, checking accounts, etc….
How Much To Give?
Kids’ Money
This ongoing survey yields the following average weekly allowance amounts for each age and gender indicated:

Age – All – Boys – Girls

3 – 3.20 – 3.03 – 3.38

4 – 2.85 – 2.48 – 3.29

5 – 3.15 – 3.03 – 3.27

6 – 3.85 – 3.32 – 3.99

7 – 4.10 – 4.12 – 4.07

8 – 4.32 – 4.45 – 4.12

9 – 5.52 – 5.33 – 5.71

10 – 7.18 – 6.56 – 7.83

11 – 7.92 – 6.80 – 9.07

12 – 9.58 – 9.38 – 9.85

13 – 9.52 – 9.95 – 9.10

14 – 13.47 – 13.50 – 13.51

15 – 15.57 – 16.65 – 14.38

16 – 17.84 – 15.79 – 19.62

17 – 30.66 – 27.65 – 35.61

18 – 40.10 – 70.57 – 24.86