Thriftness, frugality

[Ally]

In the Money Stress thread, many of us mentioned our life long frugal habits and how we had been influenced by our parents. Do you see those traits in your children as well? My daughter and her husband, who is a doctor, have been married 10 years. They have been raising 4 children all these years in two bedroom rentals, so that they could pay cash for a huge portion of their new home they just built. They both drive 10 year old cars.

My son is only a recent convert. He always let money burn a hole in his pocket. I think his wife and expecting a first baby changed him. Now he counts how much he can save on everything and is trying to really put away some savings. They also drive older cars and he does all the work on them. I'm was very worried about him for years, but not much any more.

 

[NW-Bound]

A doctor... been raising 4 children all these years in two bedroom rentals...

Wow! And I thought I was frugal!

 

[Ally]

Yes, they are more so than me. They do spend on travel though and so the children have been lots of really great places.

 

[NW-Bound]

Another case of spending money on what you value...

But still, two bedrooms! I still cannot get over it.

 

[Nords]

Do you see those traits in your children as well?

Our daughter has been very generous with our money!

She didn't do very well during her first semester, but now I think she's learning how to live like a poor college student.

 

[donheff]

Our son is living a pretty normal life, about like we did. Not super frugal, but then neither were we. He has adopted the LBYM mantra and is putting a substantial portion of his earnings away. Our daughter is still living in the basement and teaching part time. I think she gets it but she likes our ER lifestyle better than the path to reach it.