What We’ve Been Taught About Money & How It Affects Us 

Being around people from different backgrounds helped distinguish the differences we had from one household to another. While one friend had 4 bathrooms & went on family holidays 3 times a year there may be another friend who never had a family holiday & they come from a more “humble” home. Whether or not it is said aloud, the differences in class and money speak for itself.

Class can shape how we spend our money, how we value material things and how we save and invest. It has been suggested that those who come from lower class backgrounds are better equipped to deal with survival as a result of their upbringing. With that being said, class is not everything and the influence our parents have on us are more important.

Sometimes the things we learned about money wasn’t from what we knew of our parent’s backgrounds but sometimes it was in the habits we would see.

Example 1: A child sees their parents spending on luxuries before they pay their bills that child may grow up to think bills aren’t so important.

Example 2: A child sees their parents owning several properties so once they get to a certain age and have enough money they may decide to start investing in properties too.

Many people grew up without money being discussed at home even though it is vital to every day life. Money can also shape how we see some opportunities. Some people may try to move up on the career ladder because they’ve been taught to keep climbing. Others may only stay within the realm they are familiar with.

After reading this post ask yourself the following:

What habits have you learned about money from your parents? 

Are you happy with the habits you’ve picked up? 

Are they healthy for your financial growth? 

There’s still time to unlearn unhealthy habits and pick up better ones. Your financial upbringing doesn’t have to be the same as your financial ending, ask Robert Kiyosaki – the author of Rich Dad Poor Dad.


It’s vital to identify what you can so you can teach your children the habits you know will benefit them.

 

This post was written by Bola


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