Has your house been repossessed?

[skater]

I think I saw an ad for ACA or Today Tonight a few weeks ago, showing a bad tenant! I didn't see the story, though. Maybe I was dreaming.

Dreaming? I don't think so. Those shows are always showing that stuff, then the next week it's some kind of drama about a bad/greedy/rich Landlord and how they are trying to rip off the poor hard done by tenant.

 

[rugrat]

Dan C - I wasn't being smug. Condescending, maybe - I think a large number of so-called "journalists" are little more then frauds, with no more integrity then an internet blogger or opinion columnist. Gone are the days of investigative journalism, and quality reporting. Rarely is there an original thought in the media. How many times have you read a newspaper with three different articles in it all talking about the same subject, but all condraticting each other, and yet none of them with any real evidence to back it up other then 'Joe Hicks' down the road - whom the author has obviously gone looking for to back up their point of veiw.

Amadio - the problem with these articles is they are geared in the victim mentality. The old 'poor little me' everything that has gone wrong is the fault of the govt/banks/anyone else who might make an easy target. The mistakes of the individual are never laid out for the reader to see, so how is the reader to actually learn anything except that "if something goes wrong, it is always someone elses fault".

And personally, I agree with Dazz regarding parents passing off too much responsibility to the teachers. You say the parents are uneducated? Most likely alot of them are. But what on earth makes you think that the teachers are in any better position to teach our kids about financial responsiblity. I have a LOT of respect for teachers, so don't get me wrong: but most teachers are just like the rest of the general populace when it comes to finance, average. Personally I feel that with my commerce and law degree behind me, I am much better off teaching my own children, then leaving it up to someone who spent a couple of semesters at uni, being taught how to teach kids - but not nessecarily being taught the subject in question themselves. But even if I did not have the educational background I did, children learn best about things like finance through personal experience and watching how their parents relate to money. This means that it doesn't matter what a teacher might tell some student in the classroom (and I assure you that there are actually commerce classes at school) if financial responsibility is not being displayed within the home, then the student is unlikely to actually employ financial responsibility (unless and until they learn from their own experiences).

 

[dan c]

Hi rugrat, I wasn't referring to your post, more so the post directly above mine. Sorry, I should have been more specific.

 

[WinstonWolfe]

Oh that's not very nice Dan...

Go and do something constructive, like dig up some facts to help Erin get over all those socialist views she's had drummed into her at school, uni, and the ABC. The poor thing doesn't have a clue coming to a property investment forum asking a question like that.

It's the sort of question she should be asking a Green's forum.

 

[dan c]

Oh that's not very nice Dan...

Go and dig up something constructive, like dig up some facts to help Erin get over all those socialist views she's had drummed into her at school, uni, and the ABC. The poor thing doesn't have a clue coming to a property investment forum asking a question like that.

It's the sort of question she should be asking a Green's forum.

Sorry, I forgot. Everyone's a socialist. *YAWN*

 

[cu@thetop]

And we never heard from the original poster again..........

 

[HiEquity]

Most parents are MIA.

Wow I'm amazed no-one has picked up on that corker. Some certainly leave a lot to be desired. Most? You must be living in a different country!

And what do most parents know about finances anyway - just what they themselves learned (next to zilch) and hear (nonsense).

That would be about the same as teachers then. I reckon you will find in a survey of net worth among the professions, that teachers would be particularly under-represented in the higher ranks...

Those who can, do. Those who can't, teach.

Mind you, I agree maths classes could certainly use more examples of the impact of compound interest and financial education as well as the differences between assets and liabilities. But just getting teachers as a whole to understand the issues at hand would be a monumental achievement.

 

[little_stranger]

That would be about the same as teachers then. I reckon you will find in a survey of net worth among the professions, that teachers would be particularly under-represented in the higher ranks...

Those who can, do. Those who can't, teach.

Mind you, I agree maths classes could certainly use more examples of the impact of compound interest and financial education as well as the differences between assets and liabilities. But just getting teachers as a whole to understand the issues at hand would be a monumental achievement.

Apart from my FT job, I teach a little maths class on the side at a school. I do try to squeeze in basic little nuggets such as the power of compound interest e.g. you can get ahead if you start earlier with smaller amounts than larger amounts later. So I suppose I try to "do" as well as "teach". However, I am very constrained as to how much time, as I not employed to teach them financial literacy.

I quite agree that there is not enough financial literacy taught at schools, although I am undecided as to how much should be the responsibility of schools vs. parents etc.

 

[WinstonWolfe]

The parents the parents the parents. The maths books our kids have for junior and senior have as much financial maths as I was exposed to.

Parents give their kids ipods and computer games these days and tell em to disappear into the tele room with a bucket of sugared yogurt.

My parents gave me a meccano set, a fishing rod, and one of those NAB money boxes shaped like a bank safe, with working combo and all.

I loved that money box.

I also had a NAB budget book and a bank savings account passbook. That was something I treasured, and I could hardly wait to make the next deposit and see the balance go up and the bank teller stamp and initial the entry.

I'd love to see the banks produce a similar book now, that told honestly what money is - what Treasury prints, and what the RBA and private banks create when they make credit.

 

[Amadio]

Parents give their kids ipods and computer games these days and tell em to disappear into the tele room with a bucket of sugared yogurt.

My point exactly.

 

[rugrat]

What is sugared yogurt?

 

[jaycee]

what's a rugrat ?

 

[bas00]

What's MIA?

 

[jaycee]

Missing in Action

and sugarred yoghurt is this

http://www.insidefatherhood.com/wp-content/uploads/2008/04/yoplait-kids-yogurt.jpg

 

[rugrat]

what's a rugrat ?

A rugrat is a cartoon character, my favourite is Angelica - as such my daughter was named after her
If you knew who she was, you would point to her as a perfect example of these spoilt pandered kids who have mummy and daddy wrapped around their little finger, and to whom discipline and the word 'no' was a completely forgien concept.

Edited to say: I was describing the cartoon character not my daughter, who is actually a little angel

 

[jaycee]

yeah I remember now.

did you get what was meant by the tv and sugared yogurt comment ?

 

[depreciator]

Erin would have long ago stopped reading this thread. It was always going to head in this direction - we're inevitably a bit self righteous here.

My parents gave me a meccano set, a fishing rod, and one of those NAB money boxes shaped like a bank safe, with working combo and all.

I loved that money box.

I also had a NAB budget book and a bank savings account passbook. That was something I treasured, and I could hardly wait to make the next deposit and see the balance go up and the bank teller stamp and initial the entry.

We had Commonwealth Bank savings accounts. The bank used to send someone to the school one morning every week and we would line up and give her our money (back then all bank tellers were female). Putting aside the fact that it was great marketing for the bank, I loved watching that balance go up. Didn't make me much of a saver, but it would have worked on other people I'm sure.

Some kids still like Meccano and Lego and that sort of stuff. Mine do anyway. Maybe it's because that's what we gave them. I was never into computer games - I'm the generation just before them. They were very primitive when I was a kid. Parents younger than me grew up with computer games so that's what they give their kids.

I've got two kids - girls aged 7 and 9. A mate of mine, who is younger than me but has kids the same age, asked me in January what games I got them for Christmas.
'Table tennis', I said.
He looked at me a bit confused. 'Is that on Wii?'
I said, 'No. It's a table. With little bats and a little net and little white balls.'
The kids love it. They would play computer games at other kids' places, and those kids do other stuff at our place.

Scott

 

[steveadl]

Erin would have long ago stopped reading this thread. It was always going to head in this direction - we're inevitably a bit self righteous here.

She hasn't been back since the minute after she made the post. I assume she's just put the same piece around a few different sites and is waiting for the sob stories to come flying into her email. She probably has enough already and doesn't even remember a site called Somersoft.

Am I too sceptical?

 

[lizzie]

Hi Erin,


My husband and I bought our first home last year in Baulkham Hills for 725K which we've been trying to pay off. It wasn't that flash, just a normal 4x2 in the suburbs. It was all we could afford.


I fell pregnant 6 months ago....yay, and so had to give up work as an airline stewardess. My husband works as a plumber, but cannot afford to pay the mortgage on his salary alone. We have spoken to the ANZ, but they don't seem to care, and have now started the process of trying to kick us out of our home.


We are really scared and don't know what to do. I get all emotional with only 3 months to go, and don't know whether we'll be able to bring our gorgeous baby back to the cute nursery we have made here.


Please help us. We really need your help. Love Cynthia xxx.

you forgot to mention that you will be forced to sell one of the audi's and buy a secondhand toyota instead! and that the designer babyclothes and furniture you bought were a necessity.

 

[cu@thetop]

you forgot to mention that you will be forced to sell one of the audi's and buy a secondhand toyota instead! and that the designer babyclothes and furniture you bought were a necessity.

Duh! I'm leasing the Audi. I can't sell it as I owe more than it is worth-!