Some people have no problem lending small amounts of money to family and colleagues. But, as many posters on Mr. Money Mustache Forum indicate, context matters. If a friend forgot his wallet, lending him money for lunch or parking is no big deal, most people seem to agree. The amount isn’t enough to ruin a friendship, and, in most cases, the debt can be easily repaid later.
The American Journal of Psychiatry estimates that shopping addiction may be found in roughly 5.8% of the population. Unlike other addictions, shopping addiction is difficult to pinpoint.
The lessons you teach your children can stick with them for a lifetime. So, when it comes to financial education, it’s best to start instilling money management skills early. According to Forbes, even three-year-old children can understand certain monetary concepts, including the basics of spending and saving.