When I lost a tooth as a child, there was no fanfare and definitely no toothfairy. So, since Smallsteps lost her first tooth yesterday, we decided that she will go through the ritual of putting it under her pillow in a little box and the fairy would visit.
The fairy only had a 10€ note, so her first lost tooth might have been overvalued.
Does it set the expectation for the ones to come?
Perhaps she will be happy just to get something for her lost teeth, since at this point, the value of money is pretty well meaningless to her in a practical sense. One euro is just as good as ten at this point.
Who carries coins these days?
I do try and teach her about money and good habits around it, but it is not very easy to imbue the concepts into her. Overall, she does understand, but she has very little interaction with the economy directly herself, so I think I need to do a better job of having her go through the buying processes and discussing the decisions that she makes and the consequences of one of the other. I'd rather her learn the lessons now, than decades later like some people (me) do.
Ten euros doesn't buy much these days and it isn't even enough for a coffee and a bun at the local café, as for those, it is around 12.90€ at the moment and that price, will never go down again, regardless of what the economy is doing. Very few of these prices are going to go down again and instead, the only way to keep up with the increase in cost of living, is to earn more.
I was reading the other day about a person who too the "drastic step" of getting a second job to pay the bills, where she added an extra 20 hours a week onto her normal 40. Is that considered drastic? In my thinking, it is a do what you have to do to survive move and it is not uncommon in the world for people to work two jobs, especially poor people. I guess the drastic-ness of it is that she wouldn't consider herself a poor person, since she is a working professional with a degree.
But, this is the thing about "being poor" as it is relative to the lifestyle, where people can struggle with nothing, but people can also be struggling just as much, with a lot. It seems that the people who are struggling financially is moving rapidly up the earning scale, as more and more people take on larger debt commitments to soak up any additional income gains. The more that is earned, the more that gets spent and it seems that there is no end in sight for people willing to increase their debt portfolio.
Debt portfolio.
It seems far more common than an investment portfolio these days, with pretty much everyone using some kinds of financial debt services. One of my colleagues the other day was talking about paying interest only on their house loan in 2023 in order to cover the expected electricity costs. This is not uncommon at the moment, but this is someone who is also driving around in a 100K-euro hybrid SUV. People in their kind of situation should have zero money worries for normal living, yet are increasingly suffering.
Self-inflicted financial hardship.
How many teeth do we need to lose before we realize that there is no toothfairy coming to save us from our financial misfortune? It seems many are turning to the governments as if they are going to magically bail them out, but that is part of the problem that has got us here today, economically screwed. Economic mismanagement at the government level that has kept building its own debt portfolio that has to be paid by citizens in the future, but has simultaneously mismanaged the corporate processes so that far more money is going out, than coming in - even in relatively good times.
Collapse is pretty much the only way it is going to go now, though in order to keep the debt model strong, war is going to also be used, or at least, the threat of war. While they have no money for nurses in this country and the hospitals are supposedly overflowing and they are turning patients away, they keep finding a bottomless pit of money to spend on the military and the constant threat of war.
Humanity is not overly intelligent, is it? You'd think that after a couple hundred thousand years of societal evolution we would have found a way to improve ourselves without going to war over the most ridiculous and senseless things - yet here we are, year after year, still facing-off against each other across borders, while within those borders the people who are being "protected" suffer through existence.
Humanity is pathetic.
I am always in two minds these days when it comes to teaching my daughter about the world, because I want her to have a good life, but the reality of existence is increasingly making it difficult to have one. In some ways, I am considering of just giving her the illusion, the "blue pill" view of the world and hoping that she never wakes up to feel the reality. The problem is, the truth always comes out eventually.
No fairies. No Santa Claus. No Easter Bunny.
No one coming to save us.
Plenty to chew over. Nothing left to chew with.
Toothless.
Taraz
[ Gen1: Hive ]
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I can buy a cup of cappuccino for around 250 Hungarian Forint (HUF) in the local tobacco shops in Szolnok, Hungary, and this is nowadays around €0.49 EUR, because €1 EUR is currently 406.09 Hungarian Forint (HUF).
And they serve a delicious cappuccino, often with cinnamon, cocoa powder and cream.
A smaller amount of sweets can be bought for the same amount.
So €12.90 EUR can buy a lot of things. Nowadays my monthly pension-like income (for my multiple disabilities) is a around €197 EUR per month.
I appreciate every cent/penny, and I try to manage my money as well as possible, but this is still very low for a living. Especially in the winter. The fire wood is very expensive nowadays. I am happy and grateful that the owner of the house gifted/gifting multiple bags of fire wood to heat the house.
Have a nice day and have a nice weekend.
All the best. Greetings and much love from Hungary.
Not in Finland. :D
A cup of coffee the other day was 6.50.... bloody insane.
The differences in europe are quite large when it comes to the prices of some things, yet I am constantly surprised by how little difference there are in consumer goods like electronics.
Hopefully you are doing well and staying warm. Hopefully it is a mild winter too.
It is currently not too cold. Currently it is 1 °C. The next few nights will be around -2 °C and -7 °C. The coldest month in my country (in Hungary) is usually the February, when the temperature sometimes go below -20 °C. Rarely even below -30 °C.
It has already been about -15 here so far, but it will warm up a little this week. Though hopefully the snow stays for Christmas :)
You might be hard-pressed making her learn the lessons now, some things just won't sink in til the brain is ready to accept them no matter how hard you try. Like you I tried to drum this in hard from when they were tiny (they each got bank accounts around their 5th birthdays, we tried teaching them how to divide up pocket money etc) but the urge to spend was completely overwhelming especially in the case of youngest who simply had to spend the money and would often look for things to buy (unlike the other two who at least had things they wanted in mind). And even so it took til the teenage years before they finally worked out that stashing is a good idea and youngest at 13 has only finally clicked that debt is a bad thing as the instant gratification of going into debt to get what you want right that second isn't worth not having money available to get more things you want because you have to give it to someone else (he used a chunk of the Christmas money his grandparents gave him to pay me back for a sword which in fairness he may not have had the opportunity to purchase again).
I'm not saying don't stop trying, definitely keep trying, you might be lucky and it might just click for her, just saying it might take way longer than you want it to, and worst case scenario she just doesn't get it til decades later and then she'll be like oh THAT'S what Dad was on about.
Me I carry coins XD when I get change from a note. I prefer using cash because I can track it better (unlike my kids who prefer using their cards because they can check their bank accounts and see in an instant what's left). We've been trying to encourage cash use more because banks don't seem that trustworthy, especially when it's been proven time and again that it doesn't matter who you are, they can just turn things off or take things out on a whim. But people still pretend as hard as they can that such a thing couldn't possibly happen to them and everything must have been some bank glitch or the person must have been doing something wrong, there can be no other option, otherwise their entire world view will shatter.
Prices will drop after things collapse. Pity people are greedy and stupid.
A rare sword or another reason? :D
Smallsteps doesn't really have anything to buy, she gets so much stuff handed down to her from family and neighbors. She is also super impressed with small random things. in her Christmas sock, she got a fridge magnet - super happy! :D
She doesn't get the idea of saving though...
We would all spend less if we used cash I think. It is so rare in Finland though and has been for many years. No fees on card transactions since I have been here and that is 20 years already. It means that Finland is "well trained" to be cashless.
I suspect that at some point, it will come back to bite - when there is the need for a run on the banks...
Another reason (we were at a con, there was a weapon stall, that sword was there).
When youngest was that age he didn't have anything to buy either, he just wanted to buy stuff.
Have you had the almost violent pushback of how that could never ever possibly happen because "they just wouldn't?"
Absolutely and across so many areas. Then when it happens, they move the goalposts of their words again.
Have to avoid being wrong at any and all cost? XD
I do. Well, quarters at least. I often get groceries at Aldi and there you need a quarter to unlock a shopping cart for use. Coincidentally, when I was a kid, the Tooth Fairy would leave a quarter under my pillow. But there’s been a lot of inflation over the last 60+ years.
Aldi is everywhere.... still not in Finland. I was going to add that the only coins I have are in the ashtray of the car for the shopping trolley :)
She got 4x more than she should have got :D
My debt portfolio is much bigger than my investment portfolio. Well, if I consider my home an income then it changes quickly :P
Is it an income though? Depends if you are renting some of it out I guess :)
I agree. It is not an income if not rented out. Whichever I look at it, I am over-leveraged for quite some time.
you aren't the only one :)
Unfortunately it seems that a few want to understand that there are no fairies with teeth. Do well to teach economics Smallstep will grow up with a very good financial education. Unfortunately for the rest of the world perhaps the only solution is collapse and we know well that Man tends not to know history so perhaps not even collapse would be a solution. A hug!
When it collapses, people will cry for help from the incompetent people who they put there, because they supported some social movement, not because they have any economic skills.
This is why it is important to create a financial and economic culture, managing yourself independently today is the only way, we are in the hands of incompetent people from all points of view loool!
I don't know what is a good approach for teaching kids about this stuff.
Who knows deep down, they don't make manuals, you go on trial and error. But You will find the right way, I'm sure 🤗
A lot, apparently, if I look into the mouth of most elderly and sometimes not so old people, here in Portugal ;<)
Lol! I am constantly surprised that there are still people who don't brush their teeth enough.
I think it's mainly fear for - and lack of money - to go to a dentist. I live in the countryside, the situation is probably ( somewhat ) different in cities.
One of my clients was saying the other day that he rarely brushes his teeth in the morning. This is a professional engineer who just turned 60 and already has multiple false teeth...
I guess we all have our habits. Perhaps he collects false teeth ;<)
Bloody inflation, I only got 5p for my teeth.
What did 5p get you back in the 40s?
Now now, that's below the belt. I can't remember pre-decimalisation money..
I wish my kids would pay a little more attention to this kind of stuff. It’s tough, and I’m eager to sit with them, but they have no interest. Harsh.
Always giving sound things to think about. Cheers 🍻 & Happy holidays brother.
Yeah, it is a difficult thing to approach, as I don't want to make it something "too important" but it is super important :D
Will you take some time off after Christmas?
Speaking of teeth, I had a toothache for about a week and knew I had to pull a tooth. It cost me €50 at my dentist's. If I wanted to go to a public duty dentist it would have been free but I would have had to go 50 km to the duty ...
50 at the dentist to pull a tooth? It is about 500 here.
No fairies. No Santa Claus. No Easter Bunny.
No one coming to save us.
A good reason to get ourselves out of debt and to save ourselves. But not so easy, as it takes a lot of discipline and so many are allergic to discipline nowadays.
Discipline is a lost art.
I have a suspicion that the top people are doing this quite deliberately. Otherwise, you're very right! 💪
!invest_vote
I don't count them as human ;D
I grew up in a household without fairytales and Santa. Obviously never had tooth fairy giving me money.
Restaurant prices are getting ridiculous and tips are expected on top. Prices will go down when people stop going.
I sometimes wonder what is better. I grew up without them too and I am not sure I am happier than anyone else out there...
They are trying to introduce tipping here. I hate tipping culture....
Indeed, the value of money nowadays is decreasing the things we might purchase compared to before. Here in the Philippines when I was younger for 1 peso I can buy 4 candies but now it's only 2 candies good for it. We the consumers suffer a lot from this dilemma. But separating the wants from the needs could be of great help to minimize the expenses. Then to avoid debt as much as possible. This article is very interesting. I've learned something from this. Thank you for sharing. God bless.
Candy inflation is the worst! At least for someone with a sweet tooth :D
Absolutely but it's one of the instances, there is a lot that changed due to the situation we are in right now. Sad but we have to deal with it positively.
And while I feel relatively comfortably in terms of finances...I do need a dentist or better yet, a tooth fairy.
Bailing them children out...
Anyway. Speaking about the dentist. Focusing on work and neglecting health is an increasing issue, too, as our need to find more income becomes greater. Short-term thinking, doing as if still all right...until the medical bills catch up with us. It might be post retirement if we're lucky...The the more we neglect our nature for some fairy's fiat...
Health issues are among the greatest threats to personal wealth. They always think long-term. Playing their game with patience. With patients.
Yet finding works that keep you fit by at least providing lots of movement seem to be kind of unwanted by those smart people with education papers. We're the chair people. Chairmen.
Financial life seems to be a process of prolonging the inevitable long enough to be able to enjoy a sliver of life before it catches up.
Yes they do. Some wait to surprise us as well -
It is a funny world. We avoid physical work that pays us. pay to go to the gym and do physical work.
I'm trying to teach mine now.
To be happy with himself and to do with less. That it's all a shiny illusion and a trap. And to not buy into it.
We had this talk last week again, in fact. Freedom and time together or the bucks.
It's still hard going with all the greed and consumerism still being toted as success though...
I sometimes wonder if the "do with less" is part of the programming getting us used to continually being crushed.
We throw it on the roof so that birds take it and bring a new one for the kid :)
oh! I have never heard of that before :D
People don't like being wrong and I find that it's a bad quality that I have seen a lot in people recently.
As for coins, I don't like carrying coins that much. Maybe it's all the rattling in my pockets that I don't like.
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Perhaps it is the impression of the google culture. It is possible to always be "right" - no matter what is believed.
I think that is a part of it but I think it might be more or less related to the fact that people want to fit in with the mob. They might just feel it's safer to follow along because the consequences of not doing so haven't been the greatest for people lately.
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If you teach her about money, include onlyfans lessons. Easy riches 🤑🤑🤑🤑🎉🎉🎉🎉
But yeah after some thinking the past few days I dont think we will see a collapse. More like a gradual degradation as it has already imo been for a while now.
The media is throwing everything out there hoping that they will be right on something they can quote later.
I won't let her see my OnlyFans until she is at least 12.
Omg.......10 Euro for a tooth, you are definitely spoiling it all for the rest of us. :p And it does set a precedence for future Fairy payments. Like you said, it will never go down, ever!
We keep the 1 & 2 dollar coins and try to polish it up a little to make it look nicer. Also, the tooth fairy also leaves a little note to encourage her to do things her parents would like done :D
Next time I will be better prepared!
Then the grandparents gave her another 10!
Fuck. A missed opportunity....
She's going to be rolling in cash once she reaches 7-8 whereby I think 10 teeth would have already dropped :)
Regarding the note, you can always pretend to to be cleaning up and find a note by her bed. 2 things you need to remember if you go down this note writing track; 1) You gotta keep writing them for every tooth & 2) You need to start writing with your non-master hand as I think we almost got caught out when she recognised our handwriting.
The things we do for our kids sometimes....!LOLZ
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She still thinks it's going to be a fishpond.
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Debt is the modern slavery.
In the last 14 years the cost of borrowing was essentially close to zero. What it did was over inflating asset prices, people have been buying assets and homes at over the top inflated prices, and they literally mortgaged away their entire life worth of potential earnings in an era where there is not guaranteed job and income security.
Now with interest rates going up, food and energy prices going up, while asset prices need to come down and have come down. Payments required are going up on the debt people have accumulated, now comes the squeeze.
This is a perfect storm towards own nothing and be a slave and rely on massive government bailouts if this continue down the trajectory.
We are not there yet, and hope we don’t get there.
Yes - all asset prices and when there is a correction, the media doesn't seem to remember why it is correcting.
Don't worry - UBI will save us!
You are very intelligent Father. As a father its your duty to says your kids how to spend and earn money. In Pakistan people's work full day and earn just 1 thousand pkr and fuel and oil is triple in last 3 months. You are giving great financial education to your kids. Thanks for sharing.
Do you have kids?
Or if not, were your parents good financial role models?
No am not married parson. I am single.
“Very few of these prices are going to go down again and instead, the only way to keep up with the increase in cost of living, is to earn more.”
Honestly, this is the only solution, having multiple streams of income and earning more.
Currently, we’re faced with fuel scarcity in Nigeria and it’s insane that 1L is as high as N300 as opposed to N185.
It’s good to teach Smallsteps and prepare her. I don’t think it’s too early in my opinion.
Isn't it strange to have fuel issues in Nigeria - isn't there plenty of fuel extracted there?
😂😂😂😂😂I know right @tarazkp. In the ideal Nigeria, there shouldn’t be but it’s a different story entirely
@stdd denkt du hast ein Vote durch @investinthefutur verdient!@stdd thinks you have earned a vote of @investinthefutur !
At first this seemed like a lot.
Maybe it is not so much after all. I normally spend about 50 eur when I go to a shop. So in Lithuania you can still buy something for that 10€. Something like 4 loafs of bread. or a pack of coffee...
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It takes a while for most people to come to terms with the fact that no one is really coming to save them.
At this point, we should learn the lessons and start taking our finances seriously. Instead of waiting for other people in disguise as government or financial sectors to come to my rescue.
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It takes a while for most people to come to terms with the fact that no one is really coming to save them.
At this point, we should learn the lessons and start taking our finances seriously. Instead of waiting for other people in disguise as government or financial sectors to come to my rescue.
Posted via
Veews
From a toothfairy perspective, seems like some childs nowadays come equipped with a good enough wealth portfolio for the future.