Last time on Enrichmentality, we examined the equation ethical = expensive, and found that, in most cases, we can’t trust this assumption. Sometimes, clothing is cheap and nasty. But it can be expensive and nasty, too. In fact, some of the most expensive brands had the very worst environmental and social records according to the Ethical Fashion Report. But I came across something important when I was analysing the data included in the report. And that was the fact that most of the brands surveyed that sold exclusively or primarily children’s clothing scored abysmally.Continue reading “Did a child make your child’s clothes?”
Last year, I took a long break from posting, in part because I was working on other projects (finishing off my first novel manuscript, yay!). But it was also in part because I felt sick of talking.
Specifically, I was sick of talking about money to people who don’t want to listen.
If you have someone in your life who doesn’t want to hear it when it comes to money (or if you yourself don’t!) read on!Continue reading “How can I talk about money to people who don’t want to listen?”
Should you have to pay extra to bring your baby on a plane, or to a concert? Should an overweight person have to pay for two tickets? Or should an underweight person get an additional baggage allowance on their flight? Should students have to give up their seats to seniors when they’re both getting cut-price tickets? Continue reading “Should you pay for two tickets?”
A worrying new report names the so-called ‘Bank of Mum and Dad’ as Australia’s 5th largest lender. This ‘Bank’ – Aussie parents – have collectively lent their sons and daughters more than a whopping $65 billion dollars. Almost a third of parents now help their kids buy a home. The average amount ‘lent’ is $64,000. Why the scare quotes around ‘lent’? Because in two-thirds of cases, Mum and Dad don’t expect to be repaid. (In my book, that’s called a gift, not a loan).
But should you rely on the Bank of Mum and Dad? And, Mums and Dads – should you lend to your kids?
This post – a bumper issue that is the first to tackle two questions – is not only for those considering lending money within families, but also for those who have or will buy a home without family support.
Continue reading “Should I rely on the Bank of Mum and Dad? / Should I lend money to my kids?”
When I first received the wonderful book The Language of Money and Debt, I was struck by the title.I’ve been thinking aloud about the language of money here on Enrichmentality since mid-2016. But I’d never considered the language of debt separately.
Debt, globally, is an enormous issue. In the UK, Kinloch, Little and Morawiec estimate that over 16% of the population are over-indebted. (At least three months behind with their bills in the last six months, or feel heavily burdened by debt).
Recently, I caught up with someone I hadn’t seen for a long time. Two decades, in fact. And they asked me what I’ve been doing. I gave them the canned version of events, ending with my most recent news (that my husband and I had left our jobs a year and a half ago and are traveling the world). Their response? ‘It’s much easier when you don’t have kids.’
When I started this blog a year ago, I used the ‘About me‘ page to tell the story of my childhood dreams of a money tree. How I planted my pocket money in the hopes that it would sprout into an everlasting supply of wealth.
Because the truth is, there is such a thing as a money tree.
While both parents and children report schools aren’t doing enough to teach financial literacy, 75% of American parents (and 74% of kids) believe financial apps are ‘a good way to teach [kids] about financial matters’.
Games tied with food as the number one purchase made by kids, followed by toys (tied with clothes). A survey conducted by Australian parenting website raisingchildren.net.au also found that entertainment, toys and games represent the biggest pocket money spend.
But what kinds of lessons might kids be learning from apps?
Continue reading “What are apps teaching kids about money?”
Last year, I took some photos of my mother’s toy cash register for a blog post. Around the same time, a couple of our friends came to stay with their young daughter. She had a toy cash register of her own (which I also photographed). The two toys looked pretty similar (the newer version had an electronic display, and came with a paper ‘credit card’).
The role of artefacts like games in language development has long been an interest of mine. When I saw these two cash registers, I became interested in the role of toys and games in financial literacy.
Like language, money is a symbolic system we use to communicate with each other. Kids’ exposure and sensitivity to language begins early, and the same may be true of money. The majority of opinions agree financial education ‘begins with children – the younger the better’. In the last post, we looked at what an important role financial education and family background has in influencing outcomes in life.
But where do – and where should – kids learn about money?