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Reply to "What was your parents' anual income when you were growing up?"
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[quote=Anonymous]My father is a very successful entrepreneur (think he started his first company when he was 10 or something). The greatest gift he's given me and my brothers was to instill the value of saving money and working hard. A few things that I am trying to pass on to my own children: - It was a big deal to open savings accounts in our family, and he helped us start our own summer businesses when we were children so that we were able to save a good chunk of money before we went to college. - We were only allowed to work in the summers, and had to focus on our educations during the school year. My parents made it clear to us early on that we would be responsible for our college tuition, so we all worked hard to get academic scholarships. - We learned to budget money very early on. Instead of giving us money for lunch, they gave us the $ in a lump sum at the beginning of the week as our allowance. If we wanted to buy lunch, great, but if we wanted to make our own lunches with food in the house, we could save the money. We helped out a ton around the house, and in the summers, had to give him an hour each day to do something (ie mow the lawn, vacuum, dishes, etc). When we got older, money for haircuts, new clothes, etc. went into the allowance pot as well so that we learned to shop around. [/quote]
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