Parents just won't get it

[Aiman]

i unterstand wy ur parents wont get it if u use there money to trade. get job n will be much easire for u.

 

[Pat494]

Oh to be young again.
Usually one writes off the parents' ideas as old and antiquated when young. But just wait till later. One gradually realizes that their ideas weren't so stupid after all.

 

[michaelbg]

In my sense, elderly people don’t believe that now young generation can make money sitting around their computer screen all day long. Forex trading is a new way and option to make money from home and doing not much physical hard work. It is difficult to make our parents understand the future of Forex trading. That’s why Trade 24 has come with some good resources and supportive agent for their clients through which elderly people can gather knowledge.

 

[Signalcalc]

In my sense, elderly people don’t believe that now young generation can make money sitting around their computer screen all day long.

Sorry, couldn't resist (because I have personal experience of this type of scenario, as a father), fixed it for you...

"elderly people do understand the high risk that can lead the young generation into losing lots of money (they may have borrowed) sitting around their computer screen all day long. "

 

[Pat494]

Sorry, couldn't resist (because I have personal experience of this type of scenario, as a father), fixed it for you...

"elderly people do understand the high risk that can lead the young generation into losing lots of money (they may have borrowed) sitting around their computer screen all day long. "

Let them use their own money.
Or loan it to them at 5% against their collateral

 

[dbphoenix]

Let them use their own money.
Or loan it to them at 5% against their collateral

What sort of collateral do youngsters have?

 

[Pat494]

What sort of collateral do youngsters have?

The latest iPhone, ipad and probably a car to name a few.

 

[dbphoenix]

The latest iPhone, ipad and probably a car to name a few.

A bank might consider the car to be collateral, depending on who carries the title. Otherwise . . .

 

[tomorton]

What sort of collateral do youngsters have?

English youngsters in the UK have the greatest possible collateral - their age. Actually, its their age plus their approval to enrol at university here. This qualifies them for a student loan. This seems to me (though I'm neither a student nor a parent) to be free money. Anyone care to show me I'm wrong?

 

[Pat494]

English youngsters in the UK have the greatest possible collateral - their age. Actually, its their age plus their approval to enrol at university here. This qualifies them for a student loan. This seems to me (though I'm neither a student nor a parent) to be free money. Anyone care to show me I'm wrong?

They are meant to repay it eventually I suppose ?

 

[tomorton]

They are meant to repay it eventually I suppose ?

Yes they are, but I understand the rate of interest is the lowest on the planet and if they're not earning above a very decent salary, no repayments are due anyway.

Maybe some students' parents out there know more about this than I do but it sounds like a no-brainer.

 

[itspossible]

In my sense, elderly people don’t believe that now young generation can make money sitting around their computer screen all day long. Forex trading is a new way and option to make money from home and doing not much physical hard work. It is difficult to make our parents understand the future of Forex trading. That’s why Trade 24 has come with some good resources and supportive agent for their clients through which elderly people can gather knowledge.

GUYS GUYS-IN THE KINGDOM OF THE BLIND THE 1 EYED MAN IS KING
HES NOT INTERESTED AND IS JUST SPAMMING:whistling

 

[seekingTruth16]

Yes they are, but I understand the rate of interest is the lowest on the planet and if they're not earning above a very decent salary, no repayments are due anyway.

Maybe some students' parents out there know more about this than I do but it sounds like a no-brainer.

You start paying back at anything over £17,500 I think. That's not a great salary.

Besides, the students aren't likely to save that money, it will be spent, the government will recover a decent % of that amount in tax while you're still a student, and eventually you'll likely repay the full amount, plus as agraduate you'll probably earn a little more than you would have, and pay more tax...win-win

 

[mike.]

You start paying back at anything over £17,500 I think. That's not a great salary.

Besides, the students aren't likely to save that money, it will be spent, the government will recover a decent % of that amount in tax while you're still a student, and eventually you'll likely repay the full amount, plus as agraduate you'll probably earn a little more than you would have, and pay more tax...win-win

Plan 2 is if you take out the loan after 2012.......

Your employer will take repayments from your salary during any pay period where your earnings before tax are over the weekly or monthly threshold.

By pay period, we mean each time you receive your salary. This could be every:

Week
Four weeks
Calendar month
The earnings threshold is:

£404 a week
£1,750 a month
£21,000 a year
You pay 9% of your income over the threshold


How to work out your monthly repayment amount

Take away £21,000 from your annual salary before tax
Work out 9% of the remainder
Divide that figure by 12
Round down to the nearest pound
For example, if you were earning £30,000 per year:

30,000 – 21,000 = 9,000
9% of 9,000 = 810
810 / 12 = 67.5
Round down
So your monthly student loan repayment would be £67.......

 

[tomorton]

Blimey mike., nice summary. Sure sounds like free money to me.

But why are parents so wound up about these loans?

 

[mike.]

Blimey mike., nice summary. Sure sounds like free money to me.

But why are parents so wound up about these loans?

it's just a copy and paste mate...

Im going through the same situation at the moment with my eldest daughter..
I went to collage in my youth therefore a bit out of touch with todays university structure, so lately have been learning how further education works. Luckily we have a sixth form teacher in the family to keep us right, There are foundation courses at most uni's whereby you can study your chosen subject for one year, then providing you show interest and are able to cope ok your almost guaranteed to get on the course even if you didnt make the entry criteria. But yes, the loans are free money until you start making a half decent salary, then you start to pay them back.

 

[Signalcalc]

The trouble comes when your child has spent all of his/her student loan on trading and then goes on to borrow more from the likes of Wonga et al (who really don't give a f#ck who they lend money to), who then goes onto lose all that money trading, who then can't pay for anymore university and can't get a decent job to pay back anything to anyone or pay for living expenses.

Not quite the start to life one was expecting. Now the OP might not be in the same situation but if one is sat on ones ar$e all day in front of a screen LOSING money, then one is likely to have a trading problem and then Wonga come knocking....

Parents eh, what do they know?

 

[mike.]

Agreed, Trading should be the hobby one has on those days off, after you have the degree and the job. Unless you have a degree in computer programming, and can code algos, then the banks might return your email.

 

[tomorton]

You know, it's quite a common situation when close people or friends do not take trading as a really serious activity that can provide stability and confidence in the future. Many people have the stereotype that this is just some kind of gambling, which is only necessary for you to invest as much money as possible and just become a real fanatic, who just can't live without it. Yes, it's not that easy, and I know a lot of people who hide from everyone that they trade. But in time, you can show your statistics and prove in practice that you can make money out of this case. Give your loved ones time to accept that. Although I understand that without support it is not easy to work and cope with difficulties, but it happens, and you have the resources to deal with it.

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[cantagril]

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Well put