Is my child in debt?


Can small sweet children get in debt? Can they go bankrupt before they are 8 years old? They can and before they are adult they will go bankrupt many times – this is another lesson I wanted to share with you on the way to Riches.

After reading another modern book about raising children in which a wise psychologist convinces that children should not be forced to tidy up because that limits their creativity and their room is their own space (really?) and if they don’t mind the mess in the room you shouldn’t mind it either. Unfortunately, as it is with modern trends and theories, they haven’t been verified by time and haven’t had the time to die out or become a fairy tale.

Leaving the children to their own devices causes that they get more and more into the debt of mess and what’s worse, it has spread to other rooms. When the interest on the untidy room accumulated mercilessly and the creditor decided that they would lend no more, it resulted in – as it usually ends with usury interest – a crisis. Every debt ends in the same way – with a destroyed future.

The debt execution was transferred to the following Saturday and by that time our wonderful small person got their credit line closed. It wasn’t easy because when every credit line expires the debtor knows that it will be difficult.

The day of the repayment of mess debt arrived and bringing the child’s room back to usability. According to laissez-faire rules the government and creditors don’t interfere in the market (and only execute their receivables) – believe in an invisible hand that watches that the sum of selfishness units would create benefit for society (who could have invented something so absurd?). There was issued an execution warrant and payment deadline appointed – it should be clean in an hour. Unfortunately, it turned out that the debtor got overwhelmed, because there were paint stains on the walls, there was crushed plasticine on the floor and the desk was covered in a layer of glitter. Shelves were filled with books mixed with dolls and on the floor there laid everything that used to be useful once. After 10 minutes it turned out that despite the effort put in, great will and work, the debt didn’t decrease even by 1% and a sign of despair could be observed in the eyes of debtor – no sense or hope. Two minutes later the loan sharks knew that they wouldn’t retrieve the debt.

To pay off the debt of their beloved child the Mum and Dad community had to intervene. Plasticine had to be scrubbed off and the floor brushed clean so that no spot was left. It didn’t take a minute but a few hours. The walls and furniture had to be scrubbed for more than an hour, and to remove glitter from the desk it had to be moved and thoroughly cleaned because it was everywhere. Then putting teddies and dolls away, dusting, floor washing and this is how the whole Saturday went by.

As it turned out, the costs of the debt were huge because instead of spending the time in an interesting way e.g. on the playground, on fresh air, or reading a book, we had to tidy up the whole day and didn’t have the strength to do anything else more than having supper and going to bed. It turned out that what normally would have taken a few minutes/seconds, after gathering interest, it was impossible to pay off. Just like any accumulated interest makes the future worse than the commercial promises.

It is not only us who get into debt but also small children and every debt hinders you from getting rich.

PS. I didn’t write this story to defame my daughter but to show how harmful debts and some modern trends may be. As a child, I didn’t see that I live in constant debt because my dear Mum was persistently paying off my liabilities, believing that one day it will be better. The fault for my daughter’s debt is only mine because I let her start doing another thing before she finished the previous one.

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