Both myself and my husband cut up our credit cards two years ago and have not used a penny of credit since - we are paying back our debts and will be doing so for a good while yet. We have a budget for everything - we sell things we don't want any more and use the money to buy the next thing we want/need in this way we always look for what we call "old money" before use "new money".
Don't get the wrong impression - we have made money in the past by moving house lots of times but as the housing market took a downturn we lost money and we are paying the price in our lifestyle now.
If we get financial education on the school curriculum we will produce a generation of children who can't have the wool pulled over their eyes by the banks - they will learn to manage money before they get their hands on it in any real quantity and that can only be for the benefit of society.
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the e-petition here or visit www.thisismoney.co.uk/petition
I'm with you - money matters will be a significant part of our home education lessons as time goes on.
ReplyDeleteIt is really important for us all to take responsibility for our money. I am loving your 'new' and 'old' money idea!