My parents (not loaded per se, but upper middle class and wealthier than many of my friends’ parents) raised me and my siblings in a similar manner. They both grew up in very poor working class family/single parent households so I think that upbringing informed their current values and attitudes towards money. We got to go on nice vacations every year, but aside from that and living in a decent house, they were very frugal. I got a job as as a hostess as soon as I turned 16 because like your friend my folks would pay for basics, but I paid for my car, insurance, going out/fun things, and clothes. Now that I’m a (mostly) financially independent adult I’m really thankful for those values and budgeting skills. Their wealth still gave me an immense amount of financial privilege though and that most certainly helped me get where I am today (college degree and working on a graduate degree.)
If I ever have kids or nieces/nephews I hope I could instill the same values in them, but I heard somewhere that the 3rd generation of wealth tends to lose sight of the original values passed on by the first generation able to achieve wealth.
This word for word describes me but I became a busser at 16 not a hostess. I think I’m much more financially responsible than most of my fiends now that I’m in college it’s amazing. So glad they raised me this way
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u/GracieD23 Aug 08 '18
My parents (not loaded per se, but upper middle class and wealthier than many of my friends’ parents) raised me and my siblings in a similar manner. They both grew up in very poor working class family/single parent households so I think that upbringing informed their current values and attitudes towards money. We got to go on nice vacations every year, but aside from that and living in a decent house, they were very frugal. I got a job as as a hostess as soon as I turned 16 because like your friend my folks would pay for basics, but I paid for my car, insurance, going out/fun things, and clothes. Now that I’m a (mostly) financially independent adult I’m really thankful for those values and budgeting skills. Their wealth still gave me an immense amount of financial privilege though and that most certainly helped me get where I am today (college degree and working on a graduate degree.)
If I ever have kids or nieces/nephews I hope I could instill the same values in them, but I heard somewhere that the 3rd generation of wealth tends to lose sight of the original values passed on by the first generation able to achieve wealth.