Share your story! What are the top money lessons from your parents?
Most of the top money lessons are taught at an early age. These are typically pretty basic lessons—things like
- Spend less than you earn.
- Stay out of debt.
- Invest in what you know.
- Wealth starts with giving.
Joe O’Boyle wrote this brief anecdote for Money Magazine (June 16, 2015):
At 14, my father took me to his bank’s local branch to open my first savings account. We sat down at the desk with the bank manager, and I shared that I had saved $370 and I needed a place to keep it so it would grow. Entering high school, I knew I wanted two things on the day I turned 16: a driver’s license and a car. If I was going to make them both happen, I was going to need a plan. Dad and I worked out a savings plan to help me save the money I earned from a part-time tutoring job. It took me a bit longer to save up for my first car than I anticipated, but planning and saving to reach a future goal is a valuable life lesson—one I share with my clients every day.
Would you take a moment to share the lessons you learned from your parents about money, saving, investing, giving? It might be a quote. It might be a story. But drop me a comment and share how what your parents taught you is impacting you today.