Monday, April 13, 2015

My relationship with money.

I was reading Cindi's post about relationship with money
 and decided to take on the topic myself.
Here are the questions she took from Wall Street Journal
and my answers.
What is your most painful money memory?
My brother took my silver dollars from me when I was seven.
His power was scary.

What is your most joyful memory about money?
Having enough money from an inheritance to
take our children with us on many great trips!

How did those experiences shape your relationship with money?
I know where my money is and how to spend it to see my family!

What three things did your parents teach you about money?
Always hide money for a rainy day. (Maybe that is not so honest).
Make sure you always have enough for the necessities of life.
Make sure YOU are the person in charge of the money flow!

Which lessons have you applied?
All of them.
#1 Can get me into trouble
#3 I have a difficult time letting go of control.

Were you rich, poor or middle class growing up?
My parents were probably upper middle class.
We had no idea-since we were not a part of the money conversations.
Since I was the middle child-
their early money troubles were never in my prevue.

What were your family's values about money?
They have changed considerably.
When growing up money was about helping others,
doing good for the community,
being a part of the larger picture.
It became- he who has the money has the power!

With my husband and children it is about
saving for the future, but living today.
Money is access.

What is your largest fear about money?
That I will be a bag lady, alone and sick when I am 80.

What is my most important financial goal?
To have enough never to be a bag lady.

What are you willing to do differently about money?
I never plan on owning two houses again.
It drives me crazy.
Once settled, I hope to use more of my money for my community.

I would add one phrase that affects you the most about money.
"Your heart is your money will be there also".
Right now my money is very immediate family orientated.


Anonymous said...

Thanks for joining in.
Hope you house sells. If you have to lower the price to move it, do it! I know it will hurt but you'll make it up somewhere else.
Good luck!

DDD said...

It is not easy keeping two houses. Being there...

Clayton said...

My wife and I are quickly getting to retirement age. We didn't plan that out very well as we worked a dairy farm for years and my wife volunteered at a private school. We also went on family vacations with our kids growing up that we really couldn't afford. Looking back I don't regret it even if that means staying home now.

Clayton Smith @ BlueLine Planning