The best thing you can teach your kids — in my humble opinion — is to live within their means.
Don’t go handing them a credit card to get them used to spending what they do not have.
Instead, instil in them modest habits to pursue long-term ambitions in stages, planning for the future rather than seeking instant reward.
I say this mindful of the youngsters in our vicinity driving high value luxury cars on finance while still living at home with their parents.
How different from our generation when even aspiring lawyers still drove old bangers in the early days of theirs careers, before they became established.
A new generation seems to be drowning in debt, partly because everything is now much more expensive, and partly because they have never learned to live within their means.
Everything they want is immediately theirs, until it’s not. The latest this and that. The coolest brand. Whatever must have they must have. Every subscription to every service deemed essential.
Who will convince such a generation that the best wealth is contentment in a little?
Last modified: 7 April 2025
