You can pick up knowledge in a lot of different places. You can learn about how and what to spend your money on from watching television, hanging out with your friends, and from watching your parents. I haven’t really shared how I’ve learned what I know about money. So I thought I would give you a quick rundown of my experiences of what I’ve learned, why and how.
I learned the importance of thrift and the clearance sales from my mother. When I was young she was an excellent bargain hunter. In fact she still is. From her I learned that you can often avoid paying full price for an item, if you can plan ahead. She generally does her Christmas shopping the day after Christmas for the next year.
I learned how to balance a checkbook and take care of the day to day finances from my dad. I remember sitting down with him a few times at the dinner table, and he let me balance the checkbook. This was an invaluable experience. It really helped me to understand the responsibilities that come with having a checking account.
I learned the importance of saving and planning for retirement from my grandmother. She is a wonderful woman, who made many sacrifices in order to save money for the future. She is now living comfortably and enjoying herself immensely. I hope to retire in style as she has.
My first job out of high school was working as a bank teller. I put myself through school that way. I learned a lot about what not to do as I tried to help people out with the mistakes they had made in balancing a checkbook or overdrawing their accounts. I also learned about how credit cards and bank loans really work. I also know how to really find the hidden fees, and the importance of reading the fine print in bank literature. It is amazing how much you pick up as you try to explain things to people.
From observing the difficulties of others in debt, I’ve learned to avoid debt. It really changes the options that you have in front of you. Many people fail to realize that by purchasing that brand new car or getting another credit card, that they are sacrificing something in the distant future.
I have also learned about money from reading about it in books, magazines and on the Internet. I believe that it is important to continue to learn as you go. The economy and the financial expectations you have for yourself are in a state of constant change. It is important to understand why things are happening and how they will affect you. Hopefully I can share some of what I learned, and am learning with you.
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