Looking To The Past In Order To UnderStand The Present: Family Finance History
This month the PF Bloggers are writing about Family Finance History in our monthly writing project.
Looking back I would say that my immediate family has been pretty responsible with money. My mom was and is an avid saver and actually bought her home with 20% down a few years ago in NYC. Yah, the responsible one :-) My dad was definitely the frugal one in the bunch and never failed to sit me down in the dairy aisle explaining to me why Kraft sliced cheese wasn’t worth the extra money. I’ll never forget the day he sat me down in the aisle comparing ingredients and showing me that its all the same except for the packaging. Neat right? One of my favorite memories.
My uncle, I’m not too sure about. He does own a 2 million dollar home but has waded in and out of credit card debt and likes expensive toys. I reckon he must be able to afford it since he is currently debt free with the exception of his mortgage. I have a date to pick his brain about his latest strategy needless to say. 
Now, I do have family from the country who just think money grows on trees. They don’t really want to work for it, get and education to learn how to use it or take lessons from others on how to spend it. I and other members of my family who live here in the States just get multiple phone calls asking for money at least once a month. I’ve cut off a few cousins and told them not to call me anymore after burning through a wad of cash on my last visit.
That mentality is what drives me today. I don’t want to be broke and dependent on anyone for money to survive or put food on the table. I am not sure what enables one set of kids to think differently about money when they were all raised under the same roof but my mom has a totally different approach to money and how it operates in her life than do her siblings. Much like my brother and I. Anyone who knows me in real life knows that I am motivated by money and Im thinking constantly on ho to make more of it because I want to live a life with the only limits being those I impost upon myself. My brother on the other hand is complacent with his relationship with money. Mostly because he has yet to implement the tools given to him by our parents and lil ole me!
My current relationship with money as a young twenty something is shaped mainly because of how my mother made sure to save at least 40% of her take home pay. My dad being uber frugal and knowing where his money went. I’ve seen my mom save for big ticket items and be miserly and dare I say cheap on smaller items. I’ve always admired her respect for money and never making it her master and while I have a ways to go with that, it’s taught me serious lessons about money. but my less then fortunate family drives my money mentality as well, I can’t imagine being dependent on others simply because I refuse to learn for myself. In looking at my past and family histoory with money I can clearly see how its shaped who I am financially today.
What’s your family history with money? Have you learned any important lessons?
About the Author: Girls Just Wanna Have Funds is for the woman that wants to take charge of her personal finances. We value budgeting, investing, frugality and remain mindful of our spending habits. Move over and make way for women who are in control of their financial destinies and not afraid to say it. We're armed with a positive net worth and not afraid to flaunt it while breaking financial ceilings one stiletto at a time!
