Domain: tiger-web1.srvr.media3.us Three things that have helped shape your financial independence | Page 4 | Money Talk
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re: Three things that have helped shape your financial independence

Posted on 5/9/16 at 12:02 pm to
Posted by Hawkeye95
Member since Dec 2013
20293 posts
Posted on 5/9/16 at 12:02 pm to
My most irresponsible friends come from families with money, I suspect they think they will be made rich when mom and dad die
Posted by baldona
Florida
Member since Feb 2016
23797 posts
Posted on 5/9/16 at 12:32 pm to
quote:

My most irresponsible friends come from families with money, I suspect they think they will be made rich when mom and dad die


My wife came from money. I don't think it is just that, I think its the fact that they never realized how much the average person has to save to have a couple dimes to rub together. My mom used to bust my balls about turning off the lights when we lived on an Air Force base and the power was free because "someday we wouldn't".

When people don't get that same every day and literally every week urgency to save and live frugally growing up, its not easy to obtain that once they are weened from their parents money. If they are ever weened. My wife is not bad but she certainly has her level of comforts.
Posted by tissle
Member since Jul 2009
1974 posts
Posted on 5/9/16 at 12:32 pm to
1) Grew up with immigrant parents working minimum wage so we were always broke and I quickly learned the value of hard work and money. Parents couldn't really buy anything so I grew up with any vacations, fancy gadgets. This experience allowed me to keep my expectations low.

2) Due to #1 - had to take out student loans for college for living expenses. Had to budget all throughout college to make sure my loans could last me the semester. Because if I ran out of money - I really had no where to turn to.

3) Grew up not being materialistic.
Posted by DisplacedBuckeye
Member since Dec 2013
76732 posts
Posted on 5/9/16 at 1:01 pm to
1. Enlisted. Using TA, and now the GI Bill I'll finish a PhD without ever taking out a loan.

2. Took a position in Afghanistan. I used the money I made to start my own company when I came back.

3. I've never had a car payment.
Posted by tlsu15
Capital of Texas
Member since Aug 2011
10522 posts
Posted on 5/9/16 at 2:08 pm to
quote:

I've never had a car payment.


As in you pay cash for all vehicles or you have never purchased one? If done correctly, financing a car shouldn't be a huge financial burden.
Posted by DisplacedBuckeye
Member since Dec 2013
76732 posts
Posted on 5/9/16 at 2:26 pm to
quote:

As in you pay cash for all vehicles or you have never purchased one?


I've paid cash for every car I've owned.

quote:

If done correctly, financing a car shouldn't be a huge financial burden.


Financing a car would have never been a financial burden, but it was always an unnecessary one.
Posted by MadDoggyStyle
Member since Feb 2012
3857 posts
Posted on 5/10/16 at 6:20 am to
1. Born into a low income, but hard working family. I learned how to work and how to look for opportunities as a kid. I was always cutting lawns, washing cars and doing odd jobs. Working hard taught me that I didn't want to blow my hard earned money.

2. Got a good, marketable degree that I parlayed into a good job where I learned some unique skills and put away money into 401k and company stock plans while living beneath my means and raising 3 kids.

3. When the opportunity came, I started a business with my savings and haven't looked back. Financially, my goals have changed from buying material things to being a good steward with what I have been given. I enjoy spending money on family trips that will be remembered over some material possession and giving money to worthy causes and people I know who are struggling.
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