Parent’s Poor Money Choices Impact Children

Don't believe me?  Go read Lazy Man and Money's post HERE.

This type of article is why I get up FIRED UP and PUMPED UP to do what I do.  I am passionate about helping people make GREAT decisions with their financial resources so that their children can be PROUD of how their parents managed their "stuff".

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  1. Kris on June 25, 2009 at 5:26 am

    While parents always play an important, if not the most imortant role in the upbringing and early education of their children, there are more midigating factors that must be addressed in order to get the “full picture!”

    Schools and society as a whole certainly don’t do their part! Who was required to take finance and budgeting classes as part of any curiculum? Even getting a degree in Finance or Economics leaves much to be desired when it comes to real life application of any budget.
    Kids being able to get credit cards before reaching the age of 18 or 21 certainly does not help. Nobody is teaching the one, most important value when it comes to money: “If you can’t afford it, don’t buy it!”
    Just because Mummy or Daddy co-sign the application, that does not make it a responsible decision.

    Our entire financial system and economy is based on credit and managing debt and despite the complete downfall of that system, we are continuing to manage debt instead of concentrating on building wealth and our “annointed leader” is desperately trying to spend more money in order to get us out of this huge load of debt?!! Our political leaders are trying to convince the American public that spending more money and increasing debt is the way to the debt-free “promised land”…..???? With examples like that, we are not going far anytime soon!

  2. Lazy Man and Money on June 25, 2009 at 7:58 am

    And somewhere along the line, my parents learned to make great money choices. So what she learned the hard way, I always grew up knowing.

    It’s good that we are on the same page.

  3. Travis on July 1, 2009 at 8:42 pm

    Hey Lazy Man… I just read your post.

    You never say what happened with the 4th person… The sister? Did she end up responsible with money or did she model after her parents?

    I am interested to see how two kids that grew up in the same environment ended up in adulthood. Did it effect them differently? Where you the “x” factor for your wife?

    This is only an observation from your story..
    It just jumps off the page as I read it.

    The college accounts were closed in 1985. After 24 years… If not for any other reason than for her own peace of mind??

    again.. That is not meant as a judgment call. Just from reading the story, I felt like I HATED the mom and dad for her. By her own admission, she is still awful bitter.

    anyway… loved the post and it too fires me up to want to help other from going through this kind of struggle!


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