Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Friday, February 19, 2016

How middle-class kids learn entitlement

Their financial problems are of great concern to both parents . . . Ms. Tallinger, recalling the anxiety she felt as a child . . . tries to spare her sons similar concerns. She does, though, let the children know that certain kinds of vacations, such as going to Disney World, are expensive and that all family vacations require saving in advance. But possible limits on money are never referred to when the family debates going out for fast food, when it is time to sign up for a sports team, when a dentist appointment is scheduled, or when arrangements are made to attend an out-of-state soccer tournament. By not mentioning money, the Tallingers and other middle-class parents convey a subtle sense of entitlement to their children. 
Annette Lareau, Unequal Childhoods: Class, Race, and Family Life, 2d ed. "with an update a decade later" (Berkeley, CA: Univ. of California Press, 2011), ch. 3

[The Tallinger's son Garrett] takes for granted the fact that his parents can afford the cost of clothing, groceries, fast food, cars, medical appointments, and assorted activities for their children. In fact, when offered a free toothbrush by the dentist, he declines. For Garrett, expenditures like these are simply part of his life; they are (unexamined) entitlements. He can't—and doesn't—even imagine that for working-class and poor children, these same taken-for-granted items and opportunities are viewed as (unavailable) privileges.
Id.

Monday, August 3, 2015

More valuable time, but less? Wages and happiness

As we make more money, we perceive, correctly, that our time has higher value. But as a result, we also feel like we have less time.
Frank Partnoy, Wait: The Art and Science of Delay (New York: Public Affairs, 2012), p. 205
 [E]ven just thinking about our hourly wage impairs our ability to enjoy leisure time. In one experiment, [researchers] asked people to estimate the number of hours they expected to work in a year, as well as their expected annual salary. Half of the group also was asked to calculate their hourly wage. Everyone then spent ten minutes on a pleasurable leisure activity, playing a game or communicating with friends. The subjects who were asked to calculate their hourly wage reported feeling less happy. The mere act of dividing their salary by the number of hours to figure out their hourly wage made their leisure activities less fun.
Id. at p. 206 (citing Sanford E. DeVoe and Julian House, "Time, Money, and Happiness: How Does Putting a Price on Time Affect Our Ability to Smell the Roses?" Journal of Experimental Psychology, vol. 48, pp. 466-67 (2012))