Are Your Kids Frugal ?

I come from the Czech Republic. Haven't you heard about it ? No worries, the point is that the country is really really poor (but beer is cheaper than water, so I suppose it is all that matters.)

When I was younger (2000ish) , my parents brought home cca 600$ per month for four people, and we survived. I learned to live well beyond my means, and be frugal / sometimes cheap....

 Now, the main point of the article begins...

10 Years Later : I attentd one of the most prestigious and expensive univiresities in the world ( The University of Edinburgh , it is in the UK , 17th in the world bla bla ..)

I came here, full of excitement, empty pockets,ragged shoes.... and started MEETING NEW PEOPLE.

And here is what I noticed about my friends :

1) They parents invest in real estate

2) The kids spend their parents money very very loosely.

Just for an illustration my friend bought a handbag for 1600$, and I was like ''Are you serious , where did you get the money ? '' 

And she just replied : '' I have 35k $ for a school year from parents '' 

P.S School year has just 8 months....

5 months later......

She has two other siblings of similar age, and her parents are at the edge of divorce because of financial problems, despite the fact that they have 50+ units.

I wish that this was an exemption, but it is not. Nowadays, ''Cool Kids'' do not see the value of money. They do not now the tax rates, and do not know what it takes to earn 35k..

And those people  are the future elite of the world....

So , please, please...teach your kids about money...