Awkward Topic: Parents and Money

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...how to manage money, but I did learn a lot from them. I learned what NOT to do by listening to and remembering the arguments they had over money. There was at least one every two weeks (which I quickly learned was their payroll cycle).
I learned to live within my means, to always save some of my money for a rainy day, and to never depend on someone else for my well-being. Those lessons have gotten me to a state of financial stability. My issue is that now I am being "rewarded" for my financial responsibility by being the being the one everyone in the family comes to for money, including my parents.

Angela of IL 3:35PM March 31, 2008

I am guessing most parents don't know how to handle their money. Look at how many people bought houses they could not afford.

Neil of MD 10:05AM March 28, 2008

That's a good point and something that also came up in the survey - parents who don't know or practice much investing themselves have a hard time talking to their kids about it... but everyone can talk about budgeting, because we all struggle with that.
Also, like you point out, basic budgeting is more important than the more complicated financial options... that stuff can come later.

Kimberly Palmer of 4:34PM March 27, 2008

Well my parents never taught me about investing because they themselves did not invest money. However, I was taught that I couldn't spend money that wasn't mine. If I wanted that New Kids on the Block album, I was going to have to save up my allowance/birthday/holiday money for it.
While learning how to invest is an important lesson, what's the point if you're up to your ears in credit card debt because ones parents did not teach you how to spend money wisely or you completely ignored the lessons....

Veronica of NY 4:17PM March 27, 2008