Pension Age may move to 70

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Originally Posted by vnx205

Several years ago, I heard a report on a classroom activity that required students to do some sort of budgeting.

To the teacher's surprise, it was the students from lower socio-economic groups that performed best. Students from wealthy families performed poorly.

I think the explanation they came up with was that students from poorer families were quite accustomed to the notion that there was a limited pool of money and once you spent it all, you then had to go without.

Students from wealthy families were used to a situation where there was always extra money available to cover any shortfall.

With credit cards so readily available today, I wonder if the same activity would produce the same result.

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Agree,
Children of parents from the depression years have been taught just that, spent what you have , go without. I had a post here about this subject not long back, and one answer amazed me. The reason given for getting a credit card was the free TV's etc, you get as gifts, if you payed on time. OK, some people can manage that. But answer me this... is it ethical for Banks/ credit unions to send 18 year olds , in the mail, offers for increased credit limits, some as much as $ 12,000 ? Bob

I have both a Credit Card and a Debit Card,have used neither for months,we usually pay cash for what we buy,work out what we want,save, and buy it :) the cards are for emergencies,like tyres, batteries, or Vet expenses.

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Originally Posted by garrycol

That link indicates ex PM's pension is about $250,000 per year - that is a hell of a lot different to John's $2m.

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I got that 2 million from the Newspapers many years ago.

Quote:

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Originally Posted by vnx205

Several years ago, I heard a report on a classroom activity that required students to do some sort of budgeting.

To the teacher's surprise, it was the students from lower socio-economic groups that performed best. Students from wealthy families performed poorly.

I think the explanation they came up with was that students from poorer families were quite accustomed to the notion that there was a limited pool of money and once you spent it all, you then had to go without.

Students from wealthy families were used to a situation where there was always extra money available to cover any shortfall.

With credit cards so readily available today, I wonder if the same activity would produce the same result.

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Money comes from the bank, meat and milk come from the supermarket, if you run out you just go get more....right?

My ex-refugee students are pretty careful with their money. Not necessarily so for other students.

Sent from my GT-P5210 using AULRO mobile app

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Originally Posted by JohnF

I got that 2 million from the Newspapers many years ago.

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Yeah - I can understand that - it looks like they threw in all the entitlements as well - a real bonus if you are an ex Prime Minister.

I bet Barry O-Farrel is wishing he had not cancelled all those similar perks for ex NSW Premiers.

Cheers

Garry

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Originally Posted by garrycol

Yeah - I can understand that - it looks like they threw in all the entitlements as well - a real bonus if you are an ex Prime Minister.

I bet Barry O-Farrel is wishing he had not cancelled all those similar perks for ex NSW Premierst

Cheers

Garry

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:eek: bugger! no more Penfolds, from now on Coolabah. or Stanley cask wines

Quote:

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Originally Posted by vnx205

Several years ago, I heard a report on a classroom activity that required students to do some sort of budgeting.

To the teacher's surprise, it was the students from lower socio-economic groups that performed best. Students from wealthy families performed poorly.

I think the explanation they came up with was that students from poorer families were quite accustomed to the notion that there was a limited pool of money and once you spent it all, you then had to go without.

Students from wealthy families were used to a situation where there was always extra money available to cover any shortfall.

With credit cards so readily available today, I wonder if the same activity would produce the same result.

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No its not always rich vs poor, its sometimes a welfare mentality, rich kids often treat allowances as a form of welfare. When I worked with street kids, junkies and prostitutes in Kings Cross. Some of them with a welfare mentality, would have a list of agencies where they could go for handouts for everything. Others on Social Security payments would try to make their money stretch.

The classic one on the milk, was the farther of the bloke who agists his dairy heifers on our farm. One day one of his dairy hands broke a leg on a motor bike and was to be off work for a couple of months. Richard went to a couple who were living in an old unused bales dairy on the farm to see if the bloke would do the work of the injured dairy hand. Both the bloke and his girl were on benefits, when Richard asked the question, the answer came back that if they got a job they'd lose the dole. Nothing that Richard could say would convince either of them to do the dairyhand work. Richard came back and said, well the dole must be a great idea, what would hapenn if he and all the other farmers went on the dole? The bludger said, he'd have to go down the supermarket to get his milk. :mad:

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Originally Posted by Lotz-A-Landies

No its not always rich vs poor, its sometimes a welfare mentality, rich kids often treat allowances as a form of welfare. When I worked with street kids, junkies and prostitutes in Kings Cross. Some of them with a welfare mentality, would have a list of agencies where they could go for handouts for everything. Others on Social Security payments would try to make their money stretch.

The classic one on the milk, was the farther of the bloke who agists his dairy heifers on our farm. One day one of his dairy hands broke a leg on a motor bike and was to be off work for a couple of months. Richard went to a couple who were living in an old unused bales dairy on the farm to see if the bloke would do the work of the injured dairy hand. Both the bloke and his girl were on benefits, when Richard asked the question, the answer came back that if they got a job they'd lose the dole. Nothing that Richard could say would convince either of them to do the dairyhand work. Richard came back and said, well the dole must be a great idea, what would hapenn if he and all the other farmers went on the dole? The bludger said, he'd have to go down the supermarket to get his milk. :mad:

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Diana, we at DSS and at the CES commonly struck this attitude. Low paid unskilled/semi-skilled workers don't see the small financial benefit over the dole from 38 hours work in a crappy, heavy labour or menial job as worth the trouble and effort.

Looks like they're going to do it. Remember, this is us paying because Gina, Clive and Twiggy don't want to.

http://m.smh.com.au/comment/age-pens...418-36wb6.html