The Good, the Bad, and the Ugly

The good...

You may recall we had yet another college visit scheduled for today. In one of our sessions this afternoon I thought one of the panelists looked very familiar. When she introduced herself I bounced up and down in my seat just a little. She was the professor who taught my very first history of art class. She was fairly new to the university at the time and, since I always sat in the front row, we got to know each other quickly.

Her enthusiasm for her subject of the class was so contagious that I took another art history course, and then another, and another, and the next thing I knew I had myself a double major. When our art museum was looking for a new director, she asked me to serve as the student representative on the search committee. She was also largely responsible for the departmental award I received my senior year. I've kept up with her career and family through department newsletters over the years.

I went to speak with her after the session and she's just as warm and enthusiastic as she was twenty plus years ago. Many years have passed since I last saw her, she is the Chair of the department now, but we talked as though I had stepped out of her classroom days rather than decades ago. I have to say I'm still smiling!

The bad...

On to another topic; I am ready to smack a certain seventeen year old. I know she's tired, I know she's stressed, I know she has a lot on her plate. But so help me - the craptastic attitude has GOT TO GO!

The ugly...

I leave you with one last thing. If an automobile engine runs out of oil, guess what happens? I should have prizes for Ree and Susan. I'm just sayin'. *sigh*

When the phone rings after midnight

it is NEVER a good thing. The Saint and I were getting ready for bed Saturday morningFriday night and the phone rang. It was Precious Oldest - broken down on the highway 40 some minutes from home. She and a friend had gone to a concert and on the way back to campus her car just up and died.

We thanked God she wasn't alone. That no one was hurt. That the weather was cold but not frigid. That we had AAA. A wrecker towed her car to the nearest town and friends came from school to pick them up.

It was only the next morning, after the Saint talked to the driver of the tow truck, that it came to light WHY the car had "just up and died". Let's just say the car will not be "up and running" any time soon.

The Saint drove two hours with a friend (a GOOD friend) to retrieve the car. They rented a trailer and hauled it back here. They left the car at our regular garage and tomorrow we'll have the mechanics take a look and access the damages.


Too bad the money tree in the back yard just lost all its leaves.

Honest I didn't

I had no intention of falling of the face of the earth the past few days. I have lots to talk about and lots of pictures that need to be downloaded. I'm just not feeling it you know? Take this recent exchange between myself and the Saint:

Fannie: "You seem kinda down, bad day at work?"

Saint: sigh "No, I looked at my 401K. It's down ..."

Fannie: interrupting "NOOOOOO! What have I told you about looking at your accounts! Stop it right now!"

Saint: sigh "I know, I just can't help it."

Fannie: "Well knock it off; you'll give yourself heart failure and THEN where will we be?"

Yes, my compassion runneth over. I'm not a huge market watcher. I have long term investment strategies and don't focus much day to day, month to month or even quarter to quarter. But after yesterday even I peeked at a few things. People? It is not pretty.

For us, these are paper losses. We aren't living off of investment income, nor are we in the position of having to sell any stocks or bonds. But our parents? Are. My grandmother? Is. So I hope to hell Congress fixes this soon. Or I think many of those politicking jackasses fine folks just may find themselves out of a job come election time. I'm just sayin'.

Mantra

For three days I have have been walking around mumbling the same thing under my breath over.and.over.and.over:

"I love my sister, I love my sister, I love my sister."

But right at this moment? I would GLADLY wring her neck.

The Value of a Dollar

I started to leave a comment on Melissa's post about kids and money but after the fourth paragraph I folded up my tent and decided to write about it over here.

Money is an interesting topic. How much we have, how much we earn, how much we save are all topics people don't discuss much. Not even within the family. But here's the thing: how do your kids learn to handle money if you don't talk about it? Help them plan? Teach them the ropes?

Theories about children and money abound. Different things work for different families. Here is the way we went about things:

Up through second grade money was not an issue. We bought the Precious Daughters the things they needed, and sometimes the things they wanted. If they received checks on special occasions from family we parked it in the savings accounts we opened for them when they were still very small.

In third grade they started receiving a weekly allowance. (I took cash out of our account at the start of each month so I didn't get caught short or forget altogether.) They received one dollar per grade year. And yes, in the later grades we looked like cheapskates. Many folks adhere to the dollar per year of age ratio. But our girls babysat, mowed lawns, did "vacation duty" for traveling friends and were paid to do "Big Chores" that went above and beyond the usual. And let's face it, we still did the lions share of the purchasing.

In sixth grade the saving account changed to a money market account. When the statements came we would open them and I'd show them their interest from the last month. (Remember the glory years in the 90's when interest rates were 6% to 7%?) And they were all "Woot, free money! I didn't have to do a thing and these people gave me money!" It encouraged them to put money away in their money market account instead of just blowing it.

Twice a year we did a "big" clothes shopping trip. I'd withdraw a predetermined, per child amount in cash and stick it in an envelope. They'd have a list of must buys, and what was left over could be spent on whatever they wanted. Expensive jeans and tennis shoes did not seem so important if it meant you weren't going to get that cute sweater or t-shirt two stores over!

In high school we moved them to a monthly allowance. Between allowance and their "jobs" they were expected to take care of all their day-to-day expenses including gifts for friends, lunches, coffee, movies, etc. I still provided a twice yearly envelope of cash for clothing, but didn't feel the need to hover while they made selections.

At sixteen they got a checking account and debit card. This revolutionized the ease with which we operated. Instead of cash, I'd just move funds to their account and they'd use their debit cards. They could drive THEMSELVES to the mall! Better yet? They could run errands for me and I could reimburse them electronically!

At sixteen they also started working for an actual paycheck. The expectation is that the paycheck gets deposited in the money market account; then smaller amounts are moved to the checking account/debit card.

They fill their gas tanks. They pay for movies and dinners out. They purchase a lot of their own clothes. They don't ask us for money. Although the offer of gas money if they've been running family errands or cash to grab a burger is gladly accepted, they have no expectation that there is a money tree growing in our back yard.

Both girls have tidy sums saved. They're careful with their purchases. They seek out free and/or cheap forms of entertainment. (Have I mentioned there's a lot of sitting on my couch eating my snacks?!) Budgeting money is second nature.

Precious Oldest is in college. We've talked to her about the temptation of credit card offers and the horrors of getting into debt. We've discussed the evils of pay day loan schemes. We've extolled the virtues of driving a mediocre car, but one you paid cash for. Long before she graduates we'll make sure she has started planning for retirement. No, we DON'T think it's too early.

These are tough economic times. What are you doing to prepare your children?