Comments on: What Did Your Parents Teach You About Money?

By: sandrar

sandrar — Thu, 10 Sep 2009 21:27:27 +0000

Hi! I was surfing and found your blog post… nice! I love your blog. Cheers! Sandra. R.

By: Me

Me — Wed, 11 Feb 2009 22:30:32 +0000

Well, like most of you, my dad taught me to be frugal so did my mom. But then she would use all the money we saved to gamble it away. My dad would buy plasma teevees that he hogged. He would physically abuse anyone who changed his channel. So I ran away from home when I was 12.

When I got into college, kids already had million dollar savings accounts they didn’t care about before they turned 21. I was rationing my sleeping hours to take up 2 work study positions while increasing my class load. I tried to save money but it didn’t work.

I just became very tired and my grades suffered.

My friends whose parents are CEOs and Corporate lawyers didn’t need to be frugal even in times of recession such as 911. When they moved dorms, they just threw everything away.

I learned then that frugality is not a virtue but is a stupid way of living. Most of friends whose corporate parents rob world through federal bailouts, whose dads were presidents at GS didn’t have to worry about saving at all.

I still save but I realised it’s all a scam. Life is just unfair and saving is definitely not getting you anyway. It’s better to keep buying things you need that make your life better and then default on the loan or declare yourself a bankrupt. At least you will have enough food and clothes to be alive and happy.

Some of my relatives who stinged on themselves all their lives developed diseases like gastric ulcers and stomach cancer later on in their lives.

Being frugal is not worth it. It’s a lie that corporate bankers tell the middle and working classes so that they can fleece them all.

By: Mother Necessity

Mother Necessity — Fri, 12 Sep 2008 22:22:49 +0000

My parents were excellent examples for saving money and living within your means. I would have liked some more guidance regarding investments, as that is an area I feel very uncomfortable with as an adult. My husband grew up with parents who spent much more freely, and the first thing I did when we got engaged was to pay off his credit cards and make sure we never carried a balance again. We give our kids (6 & 7) a weekly allowance, which goes in their piggy banks. When they clean out their banks every 5 or 6 months, they put 1/3 in savings, 1/3 goes to a charity of their choice, and 1/3 they can spend on whatever they want. As they get older, we will adjust the percentages a bit to allow them more spending money, but at this point they don't have a lot of wants. Mother Necessity's last blog post..Knowledge Can Be Expensive

By: Malory

Malory — Fri, 12 Sep 2008 20:23:34 +0000

I have learned some very very bad habits from my parents. My husband didn't learn anything from his, they literally taught him nothing about money. We are trying to change the outlook of our future and our habits so we don't teach our daughter the same! But we do plan on teaching her how to handle money, unlike my husband's parents. Malory's last blog post..My Day

By: doug

doug — Thu, 11 Sep 2008 14:01:30 +0000

It is so nice to hear people talking about money this way. Most money articles or ‘talk-talk’ is about what-to-do and how-to-do. I think it is so much more meaningful and helpful to talk about how we feel about money and why we feel and act certain ways with money. It seems like today most people have serious money issues, and fixing things and doing things differently starts deep down at the personal level. I have found that many many people want to hear about money and be taught about money but most of them fail to make the changes needed to be at peace with money. Those changes start in a deep personal place just like this post is talking about…WOW! and these comments are awsome……..

By: Humble Beginnings | Remodeling This Life

Humble Beginnings | Remodeling This Life — Thu, 11 Sep 2008 12:34:52 +0000

[...] at Small Notebook, Rachel asked what did your parents teach you about money? and I would like to answer [...]

By: smallnotebook

smallnotebook — Thu, 11 Sep 2008 03:59:53 +0000

Thanks, Emily. I can’t wait to see what you have to say.

Happy Birthday, Rose! I’m sure your son is learning a lot from you.

Meme – that sounds just like someone in my family.

By: meme

meme — Thu, 11 Sep 2008 02:38:39 +0000

growing up- it was simply our life style- we were on a farm and most of the other farmers lived similar life styles– we just used things and restored them and recycled etc. as our life style- my mom would laugh at the discovery of recycling a few years ago as that was how she and most of the area lived–
we never thought of it as being poor or frugal- or saving the planet– it was just common sense

By: Rose

Rose — Thu, 11 Sep 2008 02:17:04 +0000

My parents taught me how not to have money. Turning 30 tomorrow, and I'm just now learning to get past the horrible habits that I learned from them. Neither of them kept at any job long enough to make any decent amount of money, and my mother moved from boyfriend to boyfriend living off of them. I'm working towards goals and building a business, and teaching my son about budgeting and investment so it doesn't take as long for him to learn what I had to learn the hard way. Rose's last blog post..Cheap Foods

By: Emily

Emily — Thu, 11 Sep 2008 00:15:45 +0000

Rachel - after reading your post and your mom's comment, I have tears in my eyes. Your family is special. I hope you don't mind if I answer your question in my post for tomorrow on my blog. Emily's last blog post..Life Without Cable TV