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Reply to "If you grew up poor, what are some financial things you wished you had learned earlier?"
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[quote=Anonymous][quote=Anonymous]If you grew up poor, what are some financial things you wished you had learned earlier? Any bit of knowledge or financial wisdom that became clear to you as you climbed the ladder that you wished you had known? Beliefs that were wrong and you realized them only later?[/quote] When you grow up without a lot of money, you don't understand that it takes money to make money. You have to delay gratification to make your life stable in the long term. That might mean investing in a college education through loans rather than working. Or if you have a sudden windfall of $500, you save it for an emergency, put it in a 401(k), or create a college savings account rather than thinking you have $500 to spend on something fun. Poor people think that rich people have a high salary. Most "rich" people have investment income in addition to a salary. [/quote]
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