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What do you remember about money managed by your parents? - Thrifty Living Today
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What do you remember about money managed by your parents?

 

Shortly after starting the Virtual Thrift Club, I wrote a Dollar Stretcher Forum entry on this topic. It turned out to be one of the most answered and heartrending entries I ever wrote. People shared their memories, and opened our eyes to what they had lived through as children.

 

 

Welcome to Thrifty Living Today a special way of life for the Twenty-first Century.

My name is Lori Blatzheim and I am your host.


 

Here is the opening paragraph.

 

Find a quiet space in your life and take a few minutes to reflect on your childhood. What do you remember about your parents or guardians while you were growing up? Did your family have a consistent source of income? Who paid the bills, mother, father, someone else? Were you included, and did they show you what was spent for food, clothing or utilities? Were you completely excluded from the process? How did this influence your current spending habits?

 

 

I would like to suggest that you do the same thing.

 

 

I have tried doing this and here are some of my conclusions.

 

 

I had no idea:

 

·       how much money my father made

·       where he banked

·       what he owed

·       whether he paid his bills on time

·       if he had a budget

·       his financial goals

 

 

            I didn’t know:

 

§  Who provided my mother with money.

§  When  she received it.

§  What she did with it.

§  Whether she saved it.

§  How she spent it.

 

By the age of nine, I had never:

 

·       Had an ongoing allowance

·       Learned the reason for banks

·       Understood what a check was

·       Realized that water, heat, electricity, telephone, and lodging cost money

·       Reviewed a budget

·       Held bills of different denominations in my hand

 

 

 

What Do You Remember About Money Managed by Your Parents?

 

Is this what you want for your children? Is this what you want for children everywhere?

 

 

 


Are you a Senior? Do you have a friend or relative who is considering retirement or has already retired? Check out this web site: Retire and Renew:

http://retireandrenew.com

 

 

 

 

 

 

 

 

 

Comments

 

mommabee said:

I remember as a child- Dad made $10/hr in 1976, I kept a jar of money in my bedroom, mom worked 2 jobs, my parent's home was paid off, 95% of our clothing came from garage sales, we took 2 week vacations every year, my parents paid in cash for new vehicles and my parents never owned a credit card..

By age 17, I worked and went to school and paid for everything in cash. I paid for college using my savings and bonds. It was paid off upon graduation.

By age 24 and married, I was put on my husband's credit card to accumulate good credit but never used the card unless asking first, We shared all bank accounts. We pooled our money. Today, we have separate accounts and credit cards. We do not have debt other than our home.

I was not taught anything about money other than if I don't have the cash to buy something, then I can't have it. I got my first real credit card last year at the age of 43. I make very little money with my full-time job but never quit any of my jobs. I contribute a bit to a 401k. Since my husband lost his job, my job has offered us benefits and about $100/mth for food, after paying bills. It's not much at all but better than nothing.  I do believe money has value and not just for frivolous spending.

February 19, 2013 10:01 PM
 

Lori Blatzheim said:

Hello mommabee,

Thank you for sharing a piece of your history and also your actions. You have thoughtfully used your financial resources. You have done what you could with what you had. This is difficult for many people.

The USA and the world, for that matter, is filled with people of different cultures and child rearing customs.

Through this post I am inviting people to think, to plan, and to care for themselves and those in their family.

Lori Blatzheim

February 20, 2013 11:37 AM

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About Lori Blatzheim

Created Retire and Renew, dedicated to those who are planing to or facing retirement or are living a Senior life: http:retireandrenew.com
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