Mantra of my father was often: “Credit cards are the bane of this country.” Right after I moved to California in the ’80s, he accumulated $ 30,000 debt each revolving credit card, with nothing to show. This led me to ask my parents to help me with cash flow because it was behind some bills. My parents were upset he was in debt. After all, they role-modeled a cash economy in our home. I was not the kind of person who discovered when listening to others. I learn best by experiencing my personal consequences. That Christmas, my dad sent me a beautifully wrapped gift, luxury scissors gold plated … with a note saying “Merry Christmas! This is to cut your credit cards! I love you. Dad”
Thereafter, I learned how to live on the money I made and started a “saving” the habit of buying what you want! The use of credit cards gave me the illusion that he had to invest much more than I actually was. Living in a base of money forced me to create better choices including the prioritization and conduct better monetary limits.
If you’ve shoes foot, a roof over head and food on the table and then make sure your neighbour has exactly the same.
This was my dad’s idea of philanthropy. He made sure the whole valley had food on the table, organic and home grown in your garden! Still does to this day! This lesson hit home the point it is important to give, but make sure you have taken care of your own family first.
I see many people that the location of the financial wants and desires of others before personal needs. This behavior creates currency imbalances and stress. We always have to put the oxygen mask on our staff first, and then we can have much more to offer others. Do you have imbalances in your personal life? How do you address those behaviors and turn around? What feelings are coming for you in placing your desires first?
Winning for possible, pay yourself first, buy what you really need it.
My mother strongly encouraged me to attend college. “You have to have an education if you want to get ahead in the world,” she said. Throughout my college years, I had many kitchen table money talks with my mom, some very painful. She taught me how to balance my register to review my statement of the financial institution. She proudly balanced her account to the penny and would frequently tell me how she found mistakes the bank made. She instilled the importance of saving money and helped me open my first bank savings account. She challenged my thinking and mindsets, making sure I knew the difference between a need and a want and that I understood the value of money.
My mom asked me to have financial security simply because she wanted me to have choices (that she didn’t have) and be able to stand on my two feet staff, no matter what challenges there came my way. This was her underlying motivation. Her need for me to be independent supported me in entering the passage into my own financial power.
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