Personal Finance tips from our Grandfathers

[Chuckanut]

I thought the men in our happy group might enjoy reading this article about personal finance principles from the website "The Art of Manliness". It does not tell us anything new, but it is a good reminder in case we forget. And, it's OK, for the ladies to read it also. I would certainly like my granddaughters to know these things when they manage their own money and when they choose a man in their life.

Personal Finance Tips From the Greatest Generation | The Art of Manliness

[ziggy29]

Interesting, but some of it is not always applicable today. For example:

Quote:

As an employer, one of the first traits I look for in a team member is resourcefulness. I care far less for credentials and experience.

How many employers, hiring managers and HR departments will say that specific education and experience aren't that important? They obsess over that stuff today. If we teach our kids what I've quoted here, they won't get hired. Degrees and experience get hired today, not people.

Quote:

In the same vein, there used to be an admirable pride to owning property, transportation, and possessions without leveraging debt. Loans have existed for a long, long time, but they were sparingly used and paying them off was a primary goal.

This reminds me of what Dave Ramsey says about "the paid off home mortgage replacing the BMW as the status symbol of choice."

[Amethyst]

My father was old enough (47) at my birth to be my grandfather. He did not carry a pocket notebook. I suspect he might have considered it fussy and faintly un-manly to do so. Nowadays, I think smart phones have replaced pocket notebooks.

Amethyst

[ziggy29]

Quote:

Originally Posted by Amethyst My father was old enough (47) at my birth to be my grandfather. He did not carry a pocket notebook. I suspect he might have considered it fussy and faintly un-manly to do so. Nowadays, I think smart phones have replaced pocket notebooks.

There's an app for that....

[HFWR]

As my great-great grandpappy HFWR used to say, "Always, no wait, never..."

[travelover]

Quote:

Originally Posted by ziggy29 Interesting, but some of it is not always applicable today. For example: How many employers, hiring managers and HR departments will say that specific education and experience aren't that important? They obsess over that stuff today. If we teach our kids what I've quoted here, they won't get hired. Degrees and experience get hired today, not people............

Sad but true. In my department I would have gladly traded a couple of unmotivated PhDs for motivated HS graduates.

[Chuckanut]

Working on the first Atomic bomb, Richard Feynman tells a story of how they had a critical problem to solve. IIRC, Instead of well known experts, he had a bunch of young, wet behind the ears grad students working on it. At one point, his young team basically told him 'Get out of the way and let us solve this problem." They did.