Comments for Budgeting In the Fun Stuff

Comment on What My Parents Taught Me About Finance by Jefferson

Jefferson — Tue, 07 Feb 2012 16:52:12 +0000

i received an allowance as a kid for doing absolutely nothing..
my parents never said a word to me about budgeting or anything else..

as such, i was always pretty terrible with money..
i have had to train myself and live and learn the hard way..

most folks i have met from other countries seem to be much more conservative with their spending and their financial decisions.. we could learn a lot from them.

Comment on What My Parents Taught Me About Finance by PFM

PFM — Tue, 07 Feb 2012 15:27:15 +0000

I learned what NOT to do from my parents, living way above their modest means and suffering great financial pains later in life. It’s the biggest reason why I live way below my means and carry no debt except for a mortgage.

Comment on What My Parents Taught Me About Finance by Michelle

Michelle — Tue, 07 Feb 2012 15:11:44 +0000

I am a hodge-podge of my parents teachings. I know I was spoiled as a child (that was my mom). The only thing I ever really wanted and asked for over and over again that I didn’t get was a cat. I like being spoiled (and I am the first to admit I am spoiled). So in life I have made sure to get a good education and a good job so I can spoil myself. I do not expect to be spoiled by others. But I am not a stupid person—I have taken 5 semesters of math (3 calc, diff equ, and stats). I know that you can’t spend more than you make and that you have to save up for what you want (that is from my dad).
I have no idea how I will raise future kids…but I am guessing I will spoil them. That is why I am thankful I married a guy who was not spoiled and always worked hard for what he got. He is the level head to my emotions.

Comment on What My Parents Taught Me About Finance by Jason

Jason — Tue, 07 Feb 2012 14:47:01 +0000

Great post, Suba!

It’s wonderful to have parents that are willing to teach their children about priorities and helping them understand the reality that they cannot have everything they WANT.

So much of what we learn isn’t by what people/our parents say, but it is more about what we witness them doing.

Personally, I wasn’t taught anything regarding finances as a kid. All spending my mom ever did was on a credit card and she ended up filing for bankruptcy when I reached high school. Little did I know that her spending habits would eventually lead to many of the mistakes that I made with finances.

Not that I blame my mom/parents for not teaching me how to handle finances (or blame them for my early financial struggles), but it is just another case study that clearly shows that parents who mishandle finances and manage money poorly will have children that do the same thing.

Comment on Our Stock Portfolio – 2012 Update by Jacob @ My Personal Finance Journey

Jacob @ My Personal Finance Journey — Tue, 07 Feb 2012 14:44:37 +0000

That’s pretty awesome that your 401k offerred Vanguard products at your old job! Most 401k mutual funds tend to have higher fees.

Comment on What My Parents Taught Me About Finance by Michelle

Michelle — Tue, 07 Feb 2012 14:18:18 +0000

I definitely learned a lot about finance from my father, and I’m glad he did this or I would most likely be clueless.

Comment on What My Parents Taught Me About Finance by Canadianbudgetbinder

Canadianbudgetbinder — Tue, 07 Feb 2012 13:47:23 +0000

Great Post, thanks for sharing.

I wrote a post the other day on my blog on “Should parents should teach their children about Money”.

My parents didn’t have a big bank account nor did they teach me about investments, real estate,retirement or what happens when you don’t have enough money.

My parents paid cash for everything when we shopped besides the obvious big purchases. I remember cheques and a lady at the bank drive-thru window as there were no debit cards.

Growing up in the 70′s and 80′s my parents taught me that I should save for what I wanted so I got a paper route. Probably one of the best moves I made as a child.

Times have changed and I believe we as adults have a broader knowledge than our parents generation about finance. Education on this topic should start at home and guide children the best we can.

I believe it’s imperative to learn at an early age about money. Those sacrifice stories our parents shared can potentially be avoided if we share the wealth of knowledge with today’s generation.

What I did learn from parents was how things were done in the ‘old days’, pay cash for what you need and to love your family and friends.

Comment on What My Parents Taught Me About Finance by Money Beagle

Money Beagle — Tue, 07 Feb 2012 13:25:45 +0000

I always love getting perspectives from people who were born in other countries. It’s amazing how different they can be from what someone raised in the USA considers normal. We all have so much to learn from each other!

Comment on What My Parents Taught Me About Finance by MoneyforCollegePro

MoneyforCollegePro — Tue, 07 Feb 2012 12:51:39 +0000

Entitlement is a very difficult hill to get over. I feel a good bit of it myself…mine mainly stems from expecting a well paying job with a college degree. I have realized now that this is certainly NOT a reasonable expectation and I am working on my feelings of entitlement. It’s tough going, but worth the effort.

Comment on Our Stock Portfolio – 2012 Update by Cheryl @Heavenly Cent

Cheryl @Heavenly Cent — Tue, 07 Feb 2012 12:28:51 +0000

Just read yesterday that the Dow closed at the highest since 2008. This is great news! And experts are advising people to get back in the market. Interestingly, people are getting in not for the increase in their investment over time, but for dividend payouts.

I’m an investment accountant and anxious to get into work today to discuss it with my co-workers who are far and away more savvy with investing. I’ve put my investments into something safe and am thinking it might be time to buy back in…