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Author: johnmoni Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore)
Number: of 293624
Subject: Re: Looking Back: Specific Money Memories Date: 7/16/03 8:44 AM
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"I'd be interested to see which personal "money memories" others have from their childhoods which they feel might have influenced their current financial thoughts the most."

3 simple lessons that my parents repeatedly told us stick with me to this day, and I credit my parents 100% for teaching me the way to responsibly manage money:

My Mom: "you can have it all, you just can't have it all at once." Taught me to work hard and save for what I wanted to buy. Discipline was the key.

My Dad: "Don't wait for someone else's money, go out and earn your own." Dad and Mom were believers in hard, honest work, as a way to make your own way in this life, without having to rely on anyone else. And cheating, dishonesty, or any other way to "get over" on the system to make a buck were absolute "no-no's" in our home.

Dad and Mom: "if you can't afford it for cash, you can't afford it." Though it is never that black and white for sure, as I got older I understood that home mortgages were smart credit, but the real lesson was that buying things you really couldn't afford on credit didn't make any financial sense.

These lessons still ring in my head as we manage our finances day-to-day.
johnmoni





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