Who Taught You About Money Matters?

Dr. Sally Beisser and I spoke with a delightful group of teachers last night, many of them retired. We began by asking them: “Who taught you about money, and what did you first learn?”

Nearly all said their parents were their teachers, and overwhelmingly it was fathers who did the money mentoring. Here are some of their thoughts:

“I grew up on a farm, and we learned to use everything until it wore out.”

“I learned how to budget my money and do my own taxes. I still do my own taxes.”

“My parents owned a retail store, and we all had jobs. At age 5, my job was to open the door for customers. I got 10 cents an hour. My brother taught me to save it.”

“I got my first credit card in college, and I was so excited to show my dad. He said, ‘Let me see it’ and I promptly handed it over so he could admire it. He cut it up! Right in front of me!”

My father gave my sister and me Kiplinger’s (magazine) for Christmas. But my husband says, ‘don’t ask questions.’ I wish I knew more.”

“My parents never talked about money.”

“I don’t budget…and haven’t for 85 years. I know how to handle money, and I’ll tell you the secret…You don’t spend what isn’t there.”

“I remember having a checking account in college and I asked m dad if he wanted to see my checkbook balance one day. He asked if I needed money. I said no, so he didn’t look. That gave me a lot of confidence.”

What would your answer be to our question, “Who taught you about money and what did you first learn?”

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