How did you learn about money?

[pennywise]

Re: How did you learn about money?

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]

Re: How did you learn about money?

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]

Re: How did you learn about money?

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]

Re: How did you learn about money?

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]

Re: How did you learn about money?

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.

[PrincessPerky]

Re: How did you learn about money?

Most of the general public will keep their heads in the sand long after we go try to dig them up.

34 savings, I think a website is a great way for a kid to learn! I will go check it out.

[Snoopy2645]

Re: How did you learn about money?

I would say my parents they were always tight with thier money I am very thankful for that. My dad was good at making money & my mom was good at saving it. They never ever considered CC's

I wish dh would have been taught like I was his family was different than mine his mom worked 2 jobs her whole life & still claimed BK so I know she isnt good with money.

I try to teach my kids by showing them how I get stuff free & it saves us alot of money. I know oldest dd 10 is also learning in school about it because this year they had checkbooks they got points for certain things & then they could buy stuff & so on.

[robex]

Re: How did you learn about money?

I grew up in a family that was in no way deprived but my mom was (is) quite frugal. We always had what we needed, but we had to learn to provide for our own wants. I was babysitting at 11, and worked part time after school from grade seven until I finished university. I'm a saver by nature--a great gift from my mom!

[CRFSaver]

Re: How did you learn about money?

I was lucky in that I had very fiscally responsible parents. They both came from nothing so every thing we had came from them working towards it. A lot of it was learnign by example and also my father pounding into us about paying your bills on time (and how he had no respect for the deadbeats who didnt pay their bills, his words not mine), about saving for a rainy day, not using credit cards etc. For many years he was a loan officer at a local bank which just added to it I guess. Some how my sister (older then me) still hasnt learned yet.

Of course i dont know how many kids today are going to learn with mommy and daddy so far into debt. Hmm, school tells me to save but I really like that brand new TV we just got at home. What does that teach a child.

Believe it or not part of my frugality I think comes from just being lazy. I don't shop cause I just don't feel like it. I don't buy new things cause I hate setting them up.

[Bruce Wayne]

Re: How did you learn about money?

There's a new report out showing that one in four children are never taught about money by their parents. Of the parents that do talk to their children about money, less than half mention budgeting, fewer than one in three mentions credit cards, and only 35 per cent mention debt.

Full report

[jmjj215]

Re: How did you learn about money?

There's a new report out showing that one in four children are never taught about money by their parents. Of the parents that do talk to their children about money, less than half mention budgeting, fewer than one in three mentions credit cards, and only 35 per cent mention debt.

Full report

So, in talking about money, you don't talk about budgeting, debt, or credit cards. What do you talk about?

[marglo]

Re: How did you learn about money?

Wow this is a great question! Really made me think back a long ways. I think I DID learn a LITTLE bit about money in school...I remember learning how to write checks and I think a little about budgeting but other than that it was nothing that helpful. I learned to cook and sew in Home Ec though and that knowledge (esp cooking) has been very helpful.

My parents didn't have much...my dad was self-employed and many weeks he brought in very little..then other times, there were more jobs than he could handle and would have to hire someone to help him. My folks would say, either it's dry or it rains and when it rains, it pours! :-) Mom was a SAHM for most of my life...she used a ringer washer and hung out the laundry, grew a big garden and I realize now was very frugal, but she didn't talk about this with me. She did go to work part-time when I was in high school.


They never talked to me about money really but I did hear a few things when they were talking...I know they always tried to keep $1000 in their bank acct...(now remember I grew up in the 50s..graduated in 1961)...if the account got lower than that, I think they just tightened up on their spending until they got it back up to that amount again. The only reason I heard about the $1000 was when they bought a car (used), they always paid cash so their account balance would drop down and they would have to build it up again.
They just lived very very frugally. I observed this and learned some things but not enough to keep us out of debt!

I learned a lot from books after I grew up, think I've read most of the financial books out there through the years, but it still took me a long, long time though to realize what some of you younger ones have already learned...debt makes you a slave. I've also learned the hard way that your possessions often start to own you and dictate how you spend your money.

I notice something different about my parents and more recent generations. When I want something...an item or service...I plan how I can fit it into my budget. My parents didn't do this...it seems like they operated on the premise that they COULDN"T afford anything and if they did happen to have some money left after paying their basic obligations, then they might spend a little bit, but were still very careful as they realized they didn't know what next month might bring. To me this seemed a very pessimistic way of living, but maybe I wouldn't be so much in debt if I had lived more that way!

[PFJournal]

Re: How did you learn about money?

I learn a lot from my finance degree at uni. I also learn from books such as Rich Dad Poor Dad and anything Warren Buffet ever writes.

[Some1Shy]

Re: How did you learn about money?

i learned about it myself in a way ..
my parents didnt teach me..if anything there way in debt and have been for years yet ..im giving them tips on saving but that doesnt work lol

i just got to a point in my life and was sick of just impluise buying...i try to get the best deals and save i am only 23..and i dont want money burning a hole in my pocket like it has many times before!

[cicy33]

Re: How did you learn about money?

So, in talking about money, you don't talk about budgeting, debt, or credit cards. What do you talk about?

My best guess would be: "What, do you think that money grows on trees???"