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The Lessons My Parents Didn’t Teach Me About Money

Money lessons parents don't teach

    Today’s post is from Glen at How To Save Money and Monster Piggy Bank. Enjoy! I was fortunate when it came to having parents who taught me about finance and money management, although they only taught me what they knew. Looking back I can say that my parents had it mostly correct, but there are some things which I think they missed, things that I think are important and that I will be teaching my son as he grows up. Budgeting For someone who just said he was fortunate and that his parents taught him heaps about finance and money, you will be surprised to learn that my parents never taught me to budget – at least not in the traditional sense. My parents didn’t sit down each month or year and decide that this is how they were going to allocate their money, and if they did, they never showed me any of it. Instead we were taught to set financial goals and to save up for things that we wanted. This approach makes sense to me, but I think it is important to take children through the process of setting a formal budget. Even if the ...

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