My parents gave me a great example of how to handle finances etc. I’m doing great. However, my sibling, raised by the same parents, makes a huge salary, but is about to lose their home and will possibly have to declare bankruptcy. They did not use money, credit cards and tuition properly nor did they make good decisions with regard the their money. So maybe a class in school would’ve helped them. My sons high school is offering an elective called Business/Personal Finance for the first time. He’s taking it!
Thank you for addressing this! My mother has filed bankruptcy twice and still hasn't learned her lesson. Maxed out credit cards for years making twice as much as I do. If I followed her advice, I'd be in a terrible situation. 😬
I appreciate the lessons my parents taught me about money. They are both truly awful with money, and it was literally an education in what NOT to do. I learned from their mistakes in real time. They are still awful with money, and I have a pretty solid understanding of investing and savings.
This was a great video to share, When I was growing up I lived and raised with my aunt and cousins. I thought we were wealthy, when in elementary and middle school. We move alot house to house in Florida areas. Noo, we weren't in the military. At the house we did not talk about money at all. I noticed the down fall at school when I had to eat peanut and jelly every day. Now, as a adult I learned at my church in Sunday school about money advice, also from strangers that talk about money, and they always tell me to do my research. I read books, do my research, and learn about investments in the future. I'm still learning and growing to do better.
My mother taught me about how to earn money as I had chores as a kid. But that was about it. When I was in high school in the dark ages, there were no classes on finances and sadly I did not go to college.
Having said that, I had to literally figure out smart finance on my own and I did. Disliking debt I never was a big spender. I do have one credit card and I use it to pay bills, groceries and anything I can use the card for. BUT, the bill money and all the rest of it are already in my bank account. When the credit card statement comes, I pay it off in whole, sometimes I check my account and pay it early. It's really not that hard. Love your sweater!
My girls went to a private high school that did have a personal finance class their senior year and my oldest loved it. She changed her major to accounting and is now a CPA. I left home at 17 and sort of taught myself. I always have included the children in our money talks and added them as authorized users on an emergency credit card while they were in college. That helped their credit tremendously. Great video!!
I have been lucky to get a lot of good advice from my parents as far as the importance of saving money and not using credit to buy things you can't afford. My mom has been a role model to me in a lot of ways related to finance. At the same time, though, I know they are from a different generation, so the advice they got when they were my age is not always applicable, and they don't know as much about newer things like online banks and cryptocurrency. I always compare their advice to other reliable sources of finance information before I follow it, because even though they are knowledgeable, they are not experts or always up to date on different financial information.
If my parents knew what they are doing I will take their advice but when you find out that they know nothing about money it's better not to take their advice
Thanks for this video. I had a parent who was not good with management of money or credit cards. Awhile back, they gave me a credit card that had both our names on it. At first, I was ok with it until the bill arrived with purchases that were not mine and the times I did make a purchase I was questioned. I remembered reading that potential employers when doing a background checks would look at your credit report as one of the determining factors for employment . After, I had my name removed from the card and was able to build and maintain a good credit score and gain good money management skills. My parent was so use to the old ways of being reckless with credit and it was not a major factor in most things . Times have changed.
yes! a few things my dad used to say in terms of advice and money are ' i made mistakes. listen, so you don't have to ', ' there's more than one way to skin a cat ', and ' it doesn't matter how much you make, it matters how much you save '. now we talk money about every time we talk (weekly ish) and recently i had to go against some of his advice cause i didn't agree with it. i heard him out and then told him that i don't think i can follow his advice and he just said, 'i understand, do whats best for you'. respect really is key when talking to parents about money.
alternatively, my mom is insecure about money, has run up much credit card debt (my dad bailed her out), and has little to no savings even in retirement. we don't talk about money because me having a career makes her insecure. sometimes, its just not possible to talk about money with your parents.
Thank you! Always enjoy your videos. I grew up with my mom always saving the cash first & then going out to buy that big ticket item. When I got my first credit card my limit was $300 which I thought was great. I had a part time job & knew I could afford that while studying. However, I found out that Christmas, the credit card company upped my limit & since I was relying on them to hold me to the $300 limit, I really went above what I could afford! It took me a loooong time to pay back those charges + finance charges but I learned a valuable lesson. I always kept a little booklet to jot down my charges so that I always knew what my current balance was & I always paid the entire bill in full!
![[Bombshell News] Consultants say we’re DANGEROUSLY near a recession 🚨](https://i.ytimg.com/vi/DvnKvkjdsMc/maxresdefault.jpg "[Bombshell News] Consultants say we’re DANGEROUSLY near a recession 🚨")
My parents gave me a great example of how to handle finances etc. I’m doing great. However, my sibling, raised by the same parents, makes a huge salary, but is about to lose their home and will possibly have to declare bankruptcy. They did not use money, credit cards and tuition properly nor did they make good decisions with regard the their money. So maybe a class in school would’ve helped them. My sons high school is offering an elective called Business/Personal Finance for the first time. He’s taking it!
Thank you for addressing this! My mother has filed bankruptcy twice and still hasn't learned her lesson. Maxed out credit cards for years making twice as much as I do. If I followed her advice, I'd be in a terrible situation. 😬
I appreciate the lessons my parents taught me about money. They are both truly awful with money, and it was literally an education in what NOT to do. I learned from their mistakes in real time. They are still awful with money, and I have a pretty solid understanding of investing and savings.
Agree 100%
This was a great video to share, When I was growing up I lived and raised with my aunt and cousins. I thought we were wealthy, when in elementary and middle school. We move alot house to house in Florida areas. Noo, we weren't in the military. At the house we did not talk about money at all. I noticed the down fall at school when I had to eat peanut and jelly every day. Now, as a adult I learned at my church in Sunday school about money advice, also from strangers that talk about money, and they always tell me to do my research. I read books, do my research, and learn about investments in the future. I'm still learning and growing to do better.
My mother taught me about how to earn money as I had chores as a kid. But that was about it. When I was in high school in the dark ages, there were no classes on finances and sadly I did not go to college.
Having said that, I had to literally figure out smart finance on my own and I did. Disliking debt I never was a big spender. I do have one credit card and I use it to pay bills, groceries and anything I can use the card for. BUT, the bill money and all the rest of it are already in my bank account. When the credit card statement comes, I pay it off in whole, sometimes I check my account and pay it early. It's really not that hard. Love your sweater!
Learn Everything About Credit Especially If You Have A House And When It Comes To Purchasing A New Car
Great video. I've thought about this topic since the last couple videos. Well said and explained.
Thank you for your advice.
My girls went to a private high school that did have a personal finance class their senior year and my oldest loved it. She changed her major to accounting and is now a CPA. I left home at 17 and sort of taught myself. I always have included the children in our money talks and added them as authorized users on an emergency credit card while they were in college. That helped their credit tremendously. Great video!!
I have been lucky to get a lot of good advice from my parents as far as the importance of saving money and not using credit to buy things you can't afford. My mom has been a role model to me in a lot of ways related to finance. At the same time, though, I know they are from a different generation, so the advice they got when they were my age is not always applicable, and they don't know as much about newer things like online banks and cryptocurrency. I always compare their advice to other reliable sources of finance information before I follow it, because even though they are knowledgeable, they are not experts or always up to date on different financial information.
Right!!! Sex Ed & so on…. Love my parents but they were clueless 😕 🙄
If my parents knew what they are doing I will take their advice but when you find out that they know nothing about money it's better not to take their advice
Thanks for this video. I had a parent who was not good with management of money or credit cards. Awhile back, they gave me a credit card that had both our names on it. At first, I was ok with it until the bill arrived with purchases that were not mine and the times I did make a purchase I was questioned.
I remembered reading that potential employers when doing a background checks would look at your credit report as one of the determining factors for employment . After, I had my name removed from the card and was able to build and maintain a good credit score and gain good money management skills. My parent was so use to the old ways of being reckless with credit and it was not a major factor in most things . Times have changed.
yes! a few things my dad used to say in terms of advice and money are ' i made mistakes. listen, so you don't have to ', ' there's more than one way to skin a cat ', and ' it doesn't matter how much you make, it matters how much you save '. now we talk money about every time we talk (weekly ish) and recently i had to go against some of his advice cause i didn't agree with it. i heard him out and then told him that i don't think i can follow his advice and he just said, 'i understand, do whats best for you'. respect really is key when talking to parents about money.
alternatively, my mom is insecure about money, has run up much credit card debt (my dad bailed her out), and has little to no savings even in retirement. we don't talk about money because me having a career makes her insecure. sometimes, its just not possible to talk about money with your parents.
why i have to listen to someone who is in a rat race and disrespect me. but i'll help them soon anyway :/
Most of my financial education came from my mother and all of it has been great advice. She is great with money which is fortunate for me.
Thank you! Always enjoy your videos.
I grew up with my mom always saving the cash first & then going out to buy that big ticket item. When I got my first credit card my limit was $300 which I thought was great. I had a part time job & knew I could afford that while studying. However, I found out that Christmas, the credit card company upped my limit & since I was relying on them to hold me to the $300 limit, I really went above what I could afford! It took me a loooong time to pay back those charges + finance charges but I learned a valuable lesson. I always kept a little booklet to jot down my charges so that I always knew what my current balance was & I always paid the entire bill in full!
There would be a disconnect, but I would definitely listen!
Morning