I am a firm beleiver that you are programmed how to handle money. You get this programming from your parents, or close relatives that you might have grown up around. When I started thinking that way, it was easy for me to see why I thought I needed a new truck every three years, or why I needed the best and most expensive “XXXX” when the cheaper “YYYY” would have worked just as well, or why I couldn’t understand why I couldn’t have a certain toy when I wanted it.
I was duplicating my parents spending habits! And they are terrible! Their spending habits are not conducive to wealth building!
They never were taught to live below your means, get debt free, and invest in assets. They instead live by the motto “spend money you haven’t yet earned (credit), on things you don’t need (too many brand new vehicles), to impress people (their brothers and sisters).
I want my kids to be hard workers at whatever they do, respect money, but more importantly, know how it works. I am trying to be a good role model and teacher in showing them how money works and what not to do with it.
