We should revert to the old rules of family finance, even guru Suzie Orman agrees.
Remember, those Depression era folks? Some are still around, like my in-laws.
They considered it damn near a sin to borrow money.
Pay interest? No way.
Never had a credit card or a car loan.
It’s not likely we will get all the way back to those rules ofbut look how far the pendulum has swung.
What will you value you more, something you worked for months to save so you could buy it, or, the same thing, if someone gave it to you?
The question answers itself, so why do so many parents buy cars for their kids?
Have not done this one in our house, and I have never worried about my daughter’s car.
And she takes great care of it.
Don’t give your kid a car to feel good about yourself.
Spend the money on therapy instead.
Gifts are not a substitute for time.
Kids know what is important to us, to anyone.
It is what you spend your time on.
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