New posts

Reply to thread

Message

I work as a volunteer with a local well known charity trying to help people in financial difficulty.
I spend a lot of time trying to explain very simple basic economic education to people who have never had it.
To be harshly frank, a lot of the time people who are at the bottom of the economic heap get there because of poor life choices.
So much of time is spent trying to get them to change certain aspects of their life.
Some of them seem bleedin obvious .
Things like having a budget for their weekly and monthly expenses.
I used to go shopping with one guy just to show him how he could buy the ingredients for a meal at a quarter of the price for a finished meal.
Sometimes its successful, and some clients manage to get out of a deep hole.
But they are in the minority.
There are some people who just cannot be helped.
They will make the same obviously financial bad decisions over and over again.
But the one thing they have in common is that they are acutely affected by inflation.
It matters little whether inflation is transitionary to them.
Some of the things that are included in the CPI that have reduced the CPI have very little impact on them.
Falls in new car prices, electronic devices, travel etc are items that will rarely if ever be on their shopping list.
If they do own a car, it will most likely be an older inefficient ICE bomb that rarely gets any maintenance.
Unlikely to have insurance of any kind, and just as likely to be unregistered.
Fuel prices are critical to them.
The costs of gas and electricity for heating cooling or cooking will take up a good chunk of their income.
They have no chance of owning shares, most likely renting, do not hold education as a vitally important function in their kids lives.
In other words, they are behind the eight ball all the time.
They may vote, but there is no guarantee.
Mick

<blockquote data-quote="mullokintyre" data-source="post: 1146580" data-attributes="member: 82018">I work as a volunteer with a local well known charity trying to help people in financial difficulty.I spend a lot of time trying to explain very simple basic economic education to people who have never had it.To be harshly frank, a lot of the time people who&nbsp; are at the bottom of the economic heap get there because of poor life choices.So much of time is spent trying to get them to change certain aspects of their life.Some of them seem bleedin obvious .Things like having a budget for their weekly and monthly expenses.I used to go shopping with one guy just to show him how he could buy the ingredients for a meal at a quarter&nbsp; of the price for a finished meal.Sometimes its successful, and some clients manage to get out of a deep hole.But they are in the minority.There are some people who just cannot be helped.They will make the same&nbsp; obviously financial bad decisions over and over again.But the one thing they have in common is that they are acutely affected by inflation.It matters little whether inflation is transitionary to them.Some of the things that are included in the CPI that have reduced the CPI have very little impact on them.Falls in new car prices, electronic devices, travel etc are items that will rarely if ever be on their shopping list.If they do own a car, it&nbsp; will most likely be an older inefficient ICE bomb that rarely gets any maintenance.Unlikely to have insurance of any kind, and just as likely to be unregistered.Fuel prices are critical to them.The costs of gas and electricity&nbsp; for heating cooling or cooking will take up a good chunk of their&nbsp; income.They&nbsp; have no chance of owning shares, most likely renting, do not hold education as a vitally important function in their kids lives.In other words, they are behind the eight ball all the time.They may vote, but there is no guarantee.Mick</blockquote>

[QUOTE="mullokintyre, post: 1146580, member: 82018"] I work as a volunteer with a local well known charity trying to help people in financial difficulty. I spend a lot of time trying to explain very simple basic economic education to people who have never had it. To be harshly frank, a lot of the time people who are at the bottom of the economic heap get there because of poor life choices. So much of time is spent trying to get them to change certain aspects of their life. Some of them seem bleedin obvious . Things like having a budget for their weekly and monthly expenses. I used to go shopping with one guy just to show him how he could buy the ingredients for a meal at a quarter of the price for a finished meal. Sometimes its successful, and some clients manage to get out of a deep hole. But they are in the minority. There are some people who just cannot be helped. They will make the same obviously financial bad decisions over and over again. But the one thing they have in common is that they are acutely affected by inflation. It matters little whether inflation is transitionary to them. Some of the things that are included in the CPI that have reduced the CPI have very little impact on them. Falls in new car prices, electronic devices, travel etc are items that will rarely if ever be on their shopping list. If they do own a car, it will most likely be an older inefficient ICE bomb that rarely gets any maintenance. Unlikely to have insurance of any kind, and just as likely to be unregistered. Fuel prices are critical to them. The costs of gas and electricity for heating cooling or cooking will take up a good chunk of their income. They have no chance of owning shares, most likely renting, do not hold education as a vitally important function in their kids lives. In other words, they are behind the eight ball all the time. They may vote, but there is no guarantee. Mick [/QUOTE]

Verification