How did you learn about money?

[Bruce Wayne]

It isn't something you're taught in school (at least not in the UK) and I think its safe to say that many people don't know much about money and finance.

So how did you guys learn about it?

[jmjj215]

I read some books mainly.

[terry1156]

Originally Posted by Bruce Wayne

So how did you guys learn about it?

The hard way

[gakline]

Parents. Other people. The books I read were mainly on retiring.

[marjorie]

One thing I must say about my old school district: In 6th grade they made us learn about tactics used by advertisers. You had to be able to identify schemes like bait and switch, and you were tested on it. That helped. Mostly the school of hard knocks.

[BAGAGT1]

In order of most learned, Parents, books, internet, some school.

[Fern]

My grandparents. All of them were hard-working people of modest incomes, who lived simply and saved their money.

Necessity. My jobs in my 20s paid poorly, so it was up to me to live cheaply and forgo luxuries.

I didn't read books on money til much later. But it also helped to have worked as a writer in financial services for 9 years, so i learned a lot about investing, saving for retirement and mutual funds while in those jobs.

While my parents did not sit me down and discuss money with me, they did throw out comments about my spending habits...and they were great role models. It wasn't until I decided to get my act together that I started really learning about money. I read every article I could find online on how to reduce my debt and start saving. This is one of the websites I found in the process I now use my parents as my 'poster child' for what I want to be. It is also comforting to know (according to my mom), that they weren't always in the position they are now, which makes it all a little more real for me.

[obi_positive]

Dave Ramsey's Financial Peace University is a good, basic course to learn to live within your means and stay out of debt.

[singinjeannie]

I made major mistakes throughout my adult life, having no idea what I was doing. I believed if I could make the payment, then I could afford it.

I didn't get serious about learning about money until my DH lost his job and we went into a finacial downward spiral. Then I was forced to realize we had a mess on our hands and needed help.

Dave Ramsey, Larry Burkette's [sp] books mainly were my inspiration to start getting my act together. Now we are struggling to make much better decisons.

-Jean

[Tree0164]

I picked up pieces here and there. MSN is running a series of articles on the Money myths we learned from our moms and how they shape our view of money. I wrote an entry on blog this past week on the very matter.

Did your learn your money habits from your mom?
I am sitting here writing on vaation in a house that my Dad built with his bare hands over 20 years ago that is more beautiful in my house that I live in day to day. My parents decided to build a second home and this home and their first home are completely paid off. Luck, no, hard work absolutely yes.

My Mom and Dad have been married 37 years this September. My Dad came over to this country with nothing in 1964 as he often tells us. My Mom was the oldest daughter of two Irish parents and lived in atleast one dozen apartments while she was growing up. She would have to go to the grocery store each day after school to pick up the food for the next day. Till this day, she still hates that Needless to say, my emptynest parents have cabinets filled with food. My brother and sister joke that we could do grocery shopping from their pantry.

I don't want to say my Mom was cheap while I was growing up, but she knew how to manage a household budget. And she knew how to stretch a dollar. Atleast until I was in college, we were primarily a one income household. Mom was there every day afterschool and we went to Catholic school. Dad was in construction. They didn't talk about money while I was kid but I never felt without.

I honestly do not know if I got my money habits from my mom. My mom looks at me crazy when I talk about online banking. She just started using an ATM this year-she always paid cash for everything. Paying cash and not pulling out a credit card is one thing I do remember. That is one thing I get from her.

[PrincessPerky]

People, watching people with money helped me learn a lot, not enough to avoid my current CC debt, but alot.

Then this site

[Bruce Wayne]

Some interesting answers there folks. Do you think that more should be done to teach children about money in schools or is it the responsibility of the individual/family?

[jmjj215]

A child's education is the responsibility of parents first and foremost. I'm not talking about homeschooling here per se - but every parent should be actively involved in their child's education about money and anything else. They should be helping w/ homework, asking how things are going, answering questions, and really taking a vested interest in what the child is learning at school.

Since public education does very little about educating kids about money, it is definitely up to the parents.

My two cents.

[akaivyleaf]

I was raised by my great-grand parents and my great-granddaddy taught me everything I needed to know. I supplimented what he taught with books I've read over the years, and sites such as this keep me focused.

[pennywise]

I started out with a child out of wedlock and lived on my own. Being independent I sought education and a federal program paid for my LPN (licensed nurse). I know I made a mistake because the government would have paid for a BSN - but poor, uneducated parents did not teach the value of education because they did not know. So, I lived in subsidized housing and learned a budget. I wrote out a one year budget by hand and quickly saw that debt made me a slave. Nursing is a hostile career so you get fired alot (alot of very bad managers who want their way) not to mention burn out from all the hours worked. When no job, no money, no bill paying. So I learned quickly, no debt. Then in 1990 with Big Bush (mafia ring leader) the recession made me query what makes the economy work - I read, studied, and invested. My spouse was not on the same page so we had many fights. Like, RIGHT after our daughter was born he wants a SUV - now I hate debt, just had a baby - so I told him I would divorce him - I WAS MAD. He had no right to steal my choice to be a stay at home mom. Anyhow, he learned this time I meant it. So now, financially we are stable. We are accumulating for our retirement. He in law school, me in Nurse Practitioner school. I also learned laziness costs a lot of money. Like hang out the laundry instead of the dryer, use rags, not paper towels, and any other hints you all teach me.

[cicy33]

I got married at 16 pregnant at 17 and divorced at 18. Learned fast when you raise a child on your own! But I am still learning every day. This board has taught me alot!

[Fern]

My parents divorced when i was very young, my mom didn't make much $, and so the 3 of us scrimped along as best we could.

On occasional Saturday mornings we've have "family meetings," where my mother would tell us we were drinking the milk too fast, she just bought a gallon 2 days ago and it's nearly gone, or you're using too much toilet paper, let's limit it to 4 sheets per wipe! That's just not enough! Sounds funny now, but that's the way it was.

I never got into debt over my head like some of the others here. Always came from modest means, and i learned at an early stage not to buy something until i could afford it. Thanks to my careful saving, I'm at a stage where I buy a new car about every 8-9 years all in cash.

[34saving]

We've talked a lot about kids learning about a saving money. My nephew is a little entrepreneur at heart and has been frustrated at the lack of web money resources geared toward kids and teens. So, with a little help from his aunt and uncle, he's been working on
http://youth4saving.blogspot.com Anybody can post a comment and I'm sure he'd welcome them from you (and your kids). I know you guys would be anyway, but please be gentle . . .he's only 11 and this is definitely a learning experience for him!

[Tree0164]

While I think the teaching kids about money is utimately the parents job, I think we need to look to the schools to add more some real life basics about money. Many parents in the baby boomers and generation x have so much of the gives me and living totally above their means-their children are taking all of that in. They have no idea if you excuse the old expression money doesn't grow on trees.

People on this board want to get their finances in order or already do, most of the general public have their head in the sand about their credit card debt, mortgage, etc etc.