Reply to If you or your mom are a financial badass

Forum Index » Money and Finances

Reply to "If you or your mom are a financial badass"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]My mum went to community college, lived with her parents until she married by dad at 24, worked until she had her first child at 29, and went back to work in her 40s after her youngest turned 10.

She would never say it directly, but I know she wished she had more independence in her youth (financial and otherwise). She never lived alone or even with girlfriends before moving in with my dad. I probably wouldn't exist if she'd had that independence but I still whish she had had that chance. I know living alone and making my own choices in my 20s changed by life for the better. She raised her three daughters to be self-sufficient and financially literate because she wanted us to have every opportunity and self-determination that she did not. In her words, "you can always marry rich, but you'll work for it every day."

Financial things she taught us/did for us:

-% of any money we got from birthdays, etc. went straight into our individual savings accounts. That money was ours and she would show us the totals but we weren't allowed to pull anything out until we graduated from high school.

-Any major money (in our case, first holy communion and confirmation) went into CDs so by the time we were leaving for college we each had nice nest eggs to use for cars, expenses while at school, etc.

-Added us to one of her credit cards and allowed us to use it for very specific expenses (gas and running pre-approved family errands). This made it so we all had stellar credit scores very young. I'm only in my 30s now have a 20 year history of great credit because of this. This was part of the reason my husband and I could jump on the housing market when rates were so low despite us not having a huge down payment.

-Taught us how credit scores work, importance of paying in full, only spending what you have, etc.

-We all worked jobs starting in high school and that money was 100% ours. She showed us how to budget for things we wanted, save up over time, etc. but the money was [i]ours[/i]. She wanted us to feel how amazing it is to earn for yourself and control that money.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics