I loved the angle of this recent article on the Get Rich Slowly blog – What did your parents teach you about money? The article referred to a poll they ran on their website – Did your parents prepare you well for financial independence?”
Over 1000 readers responded; the results surprised me a little – especially the 48% number:
- 17% of you said, “Yes, they did a great job in preparing me.”
- 17% said, “They did well — I learned the basics.”
- 18% said, “It was okay, but they missed some key areas.”
- 48% said, “What preparation for Financial Independence?”
What about you? What did your parents teach you about money – do you think you were well prepared for financial independence?
I have to say that I was – my parents were self-employed as I was growing up, so there was a huge focus on keeping an eye on costs and spending.
The two things I always remember the two key things that I was told as time came for me to leave home and join the working world:
- 1. Sort out your pension as soon as you can
2. Avoid going into debt
And I’ve pretty much followed both of those great bits of advice over the years. So, over to you.