Stop ‘playing’ the stock market

Stop ‘playing’ the stock market
Commentary: Investing isn’t a game, no matter how easy it looks

By Chuck Jaffe, MarketWatch

The stock market’s record highs seem to have some people convinced that investing is child’s play.

The Stock Market Game can raise investing awareness, but it can also encourage gambling, as students need to take chances to rise to the top of the heap.

If you are interested, go and read the rest in MarketWatch. i think it's worth a read for parents teaching their children about investing in the stock markets. And of course for myself lah! Ha! Ha!

hi uncle temperament,
tell me about it.
my son who is 8yrs old ask me to tell him more about gu piao.
i tell him to study hard first. as for money, buy only what is absolutely necessary n save the rest. i tell him to look at me: using a worn out wallet which comes free from buying colgate, using a 2nd hand watch bought from cash converter, eating simple meals n spending well below one's means.
gu piao lessons if any, will come when the time comes.

govt play us by printing so much money.

we are "forced" to play the stock market

(18-05-2013, 11:18 AM)paullow Wrote: hi uncle temperament,
tell me about it.
my son who is 8yrs old ask me to tell him more about gu piao.
i tell him to study hard first. as for money, buy only what is absolutely necessary n save the rest. i tell him to look at me: using a worn out wallet which comes free from buying colgate, using a 2nd hand watch bought from cash converter, eating simple meals n spending well below one's means.
gu piao lessons if any, will come when the time comes.

Same, same ,only you are so much successful i only can share with you my experience only:-

My son when he was in primary one, i purpose let him had more money than he could spend on food. He started to buy pencils and rubbers more than he could use. Ah... this was the opportunity to show him how to spend(to use money and not let money use him).

When he was in secondary school, he was pressured by peers to upgrade his FOC. handphone many, many times. We managed to convince him we didn't have to "show off" and there was no end in chasing after the latest technology. We "show" him, we were/are always using FOC hand-phones when we renew our contracts. And as long as the hand-phone serves our needs and purposes, it is more than enough. Of course, if you really need the extras in the hand-phone for daily usage, then go ahead. But definitely not to spend money just to show off.
So he learned how to use money again.
How about daily advertisements?

Now he is 24, so he will consider "properly" whenever he wants to spend (use) his money.
Another words, having "money-sense" is the first step to a better financial life.

As to investment, no one can say it better than WB:-
EQ is more important than IQ. A basic IQ is enough. Of course if you have a high IQ+EQ, wah! "BOH BEY CHOW MAN!"
i think you have.
i should learn form you rather the other way round

(18-05-2013, 12:10 PM)Temperament Wrote:

(18-05-2013, 11:18 AM)paullow Wrote: hi uncle temperament,
tell me about it.
my son who is 8yrs old ask me to tell him more about gu piao.
i tell him to study hard first. as for money, buy only what is absolutely necessary n save the rest. i tell him to look at me: using a worn out wallet which comes free from buying colgate, using a 2nd hand watch bought from cash converter, eating simple meals n spending well below one's means.
gu piao lessons if any, will come when the time comes.

Same, same ,only you are so much successful i only can share with you my experience only:-

My son when he was in primary one, i purpose let him had more money than he could spend on food. He started to buy pencils and rubbers more than he could use. Ah... this was the opportunity to show him how to spend(to use money and not let money use him).

Now is my turn! (Eldest P1 this yr)

But this is not much practiced, I believe. Once when my son go and pay for his own erasers at a neighbourhood shop, the cashier was surprised that he had to take cash from his own wallet to pay for it. She even asked us if he was paying using own money. Look like most kids pay from their parents' pocket.

(18-05-2013, 01:15 PM)NTL Wrote:

(18-05-2013, 12:10 PM)Temperament Wrote:

(18-05-2013, 11:18 AM)paullow Wrote: hi uncle temperament,
tell me about it.
my son who is 8yrs old ask me to tell him more about gu piao.
i tell him to study hard first. as for money, buy only what is absolutely necessary n save the rest. i tell him to look at me: using a worn out wallet which comes free from buying colgate, using a 2nd hand watch bought from cash converter, eating simple meals n spending well below one's means.
gu piao lessons if any, will come when the time comes.

Same, same ,only you are so much successful i only can share with you my experience only:-

My son when he was in primary one, i purpose let him had more money than he could spend on food. He started to buy pencils and rubbers more than he could use. Ah... this was the opportunity to show him how to spend(to use money and not let money use him).

Now is my turn! (Eldest P1 this yr)

But this is not much practiced, I believe. Once when my son go and pay for his own erasers at a neighbourhood shop, the cashier was surprised that he had to take cash from his own wallet to pay for it. She even asked us if he was paying using own money. Look like most kids pay from their parents' pocket.

And we encouraged him (as a child) to save by letting him had his own banking account (joint with my wife). Each amount of money he managed to save, we topped it up 1 to 1. My wife showed him the banking account book from time to time, how much his money had grown. And he did ask us from time to time how much his money had grown. Ha! Ha!

Life is one huge game.......

(18-05-2013, 01:34 PM)Temperament Wrote:

(18-05-2013, 01:15 PM)NTL Wrote:

(18-05-2013, 12:10 PM)Temperament Wrote:

(18-05-2013, 11:18 AM)paullow Wrote: hi uncle temperament,
tell me about it.
my son who is 8yrs old ask me to tell him more about gu piao.
i tell him to study hard first. as for money, buy only what is absolutely necessary n save the rest. i tell him to look at me: using a worn out wallet which comes free from buying colgate, using a 2nd hand watch bought from cash converter, eating simple meals n spending well below one's means.
gu piao lessons if any, will come when the time comes.

Same, same ,only you are so much successful i only can share with you my experience only:-

My son when he was in primary one, i purpose let him had more money than he could spend on food. He started to buy pencils and rubbers more than he could use. Ah... this was the opportunity to show him how to spend(to use money and not let money use him).

Now is my turn! (Eldest P1 this yr)

But this is not much practiced, I believe. Once when my son go and pay for his own erasers at a neighbourhood shop, the cashier was surprised that he had to take cash from his own wallet to pay for it. She even asked us if he was paying using own money. Look like most kids pay from their parents' pocket.

And we encouraged him (as a child) to save by letting him had his own banking account (joint with my wife). Each amount of money he managed to save, we topped it up 1 to 1. My wife showed him the banking account book from time to time, how much his money had grown. And he did ask us from time to time how much his money had grown. Ha! Ha!

We do it differently. We don't top up 1 to 1. Instead when he spend on "approved" products, we share the cost 50-50. Hope this can make him spend wisely in future.

BTW , erasers are not approved product.

(18-05-2013, 02:33 PM)NTL Wrote:

(18-05-2013, 01:34 PM)Temperament Wrote:

(18-05-2013, 01:15 PM)NTL Wrote:

(18-05-2013, 12:10 PM)Temperament Wrote:

(18-05-2013, 11:18 AM)paullow Wrote: hi uncle temperament,
tell me about it.
my son who is 8yrs old ask me to tell him more about gu piao.
i tell him to study hard first. as for money, buy only what is absolutely necessary n save the rest. i tell him to look at me: using a worn out wallet which comes free from buying colgate, using a 2nd hand watch bought from cash converter, eating simple meals n spending well below one's means.
gu piao lessons if any, will come when the time comes.

Same, same ,only you are so much successful i only can share with you my experience only:-

My son when he was in primary one, i purpose let him had more money than he could spend on food. He started to buy pencils and rubbers more than he could use. Ah... this was the opportunity to show him how to spend(to use money and not let money use him).

Now is my turn! (Eldest P1 this yr)

But this is not much practiced, I believe. Once when my son go and pay for his own erasers at a neighbourhood shop, the cashier was surprised that he had to take cash from his own wallet to pay for it. She even asked us if he was paying using own money. Look like most kids pay from their parents' pocket.

And we encouraged him (as a child) to save by letting him had his own banking account (joint with my wife). Each amount of money he managed to save, we topped it up 1 to 1. My wife showed him the banking account book from time to time, how much his money had grown. And he did ask us from time to time how much his money had grown. Ha! Ha!

We do it differently. We don't top up 1 to 1. Instead when he spend on "approved" products, we share the cost 50-50. Hope this can make him spend wisely in future.

BTW , erasers are not approved product.

Yes! Basically we taught him how to understand the value of money. How he could use his money on something more useful to him. One eraser or 2 pencils are more than enough for him to use. And if nothing "useful" to spend on, the surplus should be saved. And we encouraged him to save by letting him having his own bank account book. Which we showed him from time to time, We must keep the habit of saving active.

Will he save and save, then splurg on a big ticket item ( in kids eyes)? I am trying to teach my 4 yr old about money too, because wen we are out he will always say, I want this and that.