My husband and I want our kids to learn from our financial mistakes, not repeat them
My husband and I started borrowing money when we were planning our wedding.We never stopped and borrowed more than we should have.Now we're paying off the mistakes we made and teaching our kids to treat finances differently."Mom, what's it called again when a business has its trucks taken away?" my 11-year-old called from the living room. "Reposession," I responded.My husband had recently explained to our son what happens to a business when it files for bankruptcy.
Reported by 1 outlet — Business Insider. See all sources ↓
My husband and I started borrowing money when we were planning our wedding.We never stopped and borrowed more than we should have.Now we're paying off the mistakes we made and teaching our kids to treat finances differently."Mom, what's it called again when a business has its trucks taken away?" my 11-year-old called from the living room. "Reposession," I responded.My husband had recently explained to our son what happens to a business when it files for bankruptcy. "Their vehicles are repossessed. They're taken away and sold to someone else."The repossession of business assets may not be regular dinner table banter in other people's households, but in our home, there is no financial topic that is not discussed.We haven't filed for bankruptcy, but because of some very bad financial decisions, we very nearly did.
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Why it matters
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- What's the story?
- My husband and I started borrowing money when we were planning our wedding.We never stopped and borrowed more than we should have.Now we're paying off the mistakes we made and teaching our kids to treat finances differently."Mom, what's it called again when a business has its trucks taken away?" my 11-year-old called from the living room. "Reposession," I responded.My husband had recently explained to our son what happens to a business when it files for bankruptcy.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 2m ago.
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My husband and I want our kids to learn from our financial mistakes, not repeat them
Sources1TypeCoverageBusiness Insider