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Old 02-25-2016, 03:28 PM   #21
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I was so poor I could only afford two Yorkshiremen.
Sheer luxury.
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Old 02-25-2016, 03:30 PM   #22
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Sheer luxury.
Did I mention that they were both midgets?
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Old 02-25-2016, 03:42 PM   #23
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I did not know about the Yorkshiremen until I came to this forum. By that time, I was already financially established.

So, the Yorkshiremen, no matter their number or height, had nothing on me.
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Old 02-25-2016, 03:44 PM   #24
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my first meaningful influence was my first partner (an uncle) who immediately impressed upon me the need to always put some money away. Just as important, but later, his son taught me he value of LBYM...
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Old 02-25-2016, 03:47 PM   #25
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we only had one Yorkshireman, a midget who was dead. Stank to high heaven at what would have been our dinner table, if we'd had a table, or food for dinner.
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Old 02-25-2016, 03:49 PM   #26
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Not a proud moment, but at six or so I swapped my little sister 5 shiny pennies for one little dime. Mom gave me hell as I tried to explain that sis was really happy with the trade. sigh. Around thirteen the folks borrowed $130 from me when we all went to a multi-day Hudspeth Land & Livestock auction so they could buy the start of a registered Hereford herd. Think they gave me 1/2 a $200 go-kart and a new Guernsey/Hereford cross calf later in return.

Can recall my Dad pawning his firearms before Christmas - never made the connection in my brain. Always felt secure - if Dad quit a job it was cause for celebration - he was a great machinist so often he was working several jobs at once - 24 hours in a day after all. Three kids and trying to build a ranch from zero couldn't have been easy though - recall taking calls from gents with Household Finance looking for loan repayment.
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Old 02-25-2016, 04:29 PM   #27
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Two important lessons. First, I remember Dad starting to buy stocks in the late 1960s, when you had to go to Merrill Lynch. I used to go through his little books of charts in fascination, trying to figure out where each stock was headed. Dad was a great example.

Second-parents were definitely LBYM types. Some stuff (any vacation involving air travel for a family of 7 or a hotel stay) was just not in the budget. I learned that if I wanted to see the world or buy real jewelry I better find a way to get it myself. And I did!
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Old 02-25-2016, 04:50 PM   #28
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I loved my father, but he was a negative influence which made me better. He never made a lot of money, but he was a horrid manager of the money he did make.
True story: I was no more than 11 years old when I suggested the basics of a budget, using the old money-in-different-envelopes system. My parents actually tried it AND IT WORKED. Alas, my father abandoned it at some point and we went back to feast and famine times between his regular paychecks.
Things got a bit better when Mom when to work, but with that extra cashflow somehow things didn't improve all that much.
I remembered those days when I left home and was always LBYM and a budgeter because of that. Incidentally, I asked my older brother if he thought Dad had a girlfriend on the side, and maybe that was the reason we were broke. But my brother (who likely would have known) was positive that was not the case. So I guess he was just a poor money manager.

I should clarify: My Dad was a "negative influence" only as it related to finances. He was a loving and good father.
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Old 02-25-2016, 04:55 PM   #29
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I was born during the 100th anniversary month of a local savings bank. To celebrate, they gave every baby born that month in the city a savings deposit account with a small sum of money in it. Since my expenses at that time were zero, I have been LBYM since I was born.
That is a seriously cool story!

I think my earliest influence was seeing my grandparents retire and move to Florida when my grandfather turned 65. His father died a couple of months before he was born, he had maybe five years of school total, and a very difficult youth. He always talked about trying to get a job and being stymied by the signs on the door saying "No Irish Need Apply."

But he went on to make a success of himself anyway, and whatever good things I had in my youth were due to his generosity.

Oh, and I should add we couldn't even afford one Yorkshireman. All we had was someone who had once passed through Cumbria.
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Old 02-25-2016, 04:59 PM   #30
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Definitely my parents. When I used to see how they got the most out of the little income they (primarily my Dad) had. With 7 kids it was not easy. One key thing - I NEVER heard my parents complain about what others had. When we would say something about what others had, they would just reply "well, they are not us". They made a strong impression about getting a job - but then seeing what you could learn on that first job to look beyond and get a better job.

I also remember a discussion between my parents and one of my older brothers. He was visiting from college and I was just in my early teens. The gist of the conversation was "too many people of our background, when they come into a little money, spend it all. They make $30,000 and spend all of that $30,000 and then some. But I'm seeing that people who get ahead are the ones who make $30,000, spend $15,000, and save and invest the rest". That has really stuck with me all these years.
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Old 02-25-2016, 06:25 PM   #31
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My grandfather giving me a few old family coins, and me wanting to deposit them in my new savings account. Him explaining how maybe that wasn't the best idea.
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Old 02-25-2016, 06:52 PM   #32
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I have early memories of counting up loose coins with my mother and putting them in the paper tubes. Then she let me go to the bank with her. I loved that! Later, when I had money of my own I had those cardboard folders to save coins in. I remember the quarter folders and the dime ones, each coin snuggly pressed into it's own little seat.

That's where I learned that saving even small amounts adds up to something bigger.

I am one of those people who was born with a very strong gene for saving. As a child this was reinforced by sharing a room with my sister who is 3 years older. Even though she had a larger allowance than me she was always broke. Many times she borrowed from me or sold me her things because she couldn't manage to keep money in her pocket.

She is still like that but now she is married to a husband with really enormous pockets!
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Old 02-25-2016, 07:07 PM   #33
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We were broke-dad was always between jobs. My earliest memory, guess I was 4 or 5 and down for a nap but caught my dad in my room stealing loose change out of MY piggy bank.

He said it was for "parking meter" but even then I knew better. It was for day-old loaves of bread to go with the free cheese and tomato soup that mom would make.

We used to eat cheese sandwiches dunked in tomato soup .... a lot.

Many aspects of that memory have influenced my life ...

Dad passed away a couple years ago. Funny enough, today he would have been 80.

RIP Dad. And thanks because you did the very best that you were capable of doing. I'm probably a better person because I had to learn to work on my own.
Sounds familiar. I watched my parents struggle with money from my earliest conscious days (you would be surprised what kids can observe). They were young and uneducated and poor and, to be honest, not really in a position to be responsible for young children. Their struggles motivated me. As I was growing up, I always thought to myself - "When I'm a grownup, I'll make sure I'm not poor like we are now." And now I'm not.
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Old 02-25-2016, 07:16 PM   #34
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I was born during the 100th anniversary month of a local savings bank. To celebrate, they gave every baby born that month in the city a savings deposit account with a small sum of money in it. Since my expenses at that time were zero, I have been LBYM since I was born. Birthday and Christmas cash gifts were deposited into the account. By the time I was four, my parents took me to the bank to find out how much my savings had grown. That's when I learned about the magic of compound interest. Many years later, I withdrew from that same account to put a down payment on my first house.

Now does anyone have any financial stories from inside the uterus?
Here is an ad from that time period. They were pushing annuities!

Cork Savings Bank, 1861 > Cork: Merchant Princes > Cork City & County Archives
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Old 02-25-2016, 07:26 PM   #35
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So, you were born in 1961. A youngster!
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Old 02-25-2016, 07:36 PM   #36
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My earliest influence....hmmm.

I suppose it was sitting in my car (at the ripe old age of 17), a beer on the console and a doobie being passed among my friends, watching the cars go by on the 'loop' in my tiny hometown. I realized I wanted a better future.

Over four decades later, I reached my financial goal.

Then again, from time to time, I think about those daze...and I wonder...
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Old 02-25-2016, 07:40 PM   #37
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I'll take a different tack. We were "house rich and cash poor" when I grew up. Nice house in lovely suburb but no money at all for extras or luxuries. I was mostly influenced by books such as Laura Ingalls Wilder Little House series or (later) Thoreau's Walden. Living simply and frugally always seemed to me part of an honest and good life. I guess I should be lucky that I've never felt much desire for wealth as an adult (except for security, a need which is considerable). I must say that I still find myself scandalized at all the "stuff" many young people have or crave, and I'm thankful I grew up in a time when choices were few and luxuries rare.
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Old 02-25-2016, 07:54 PM   #38
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OK, thinking back, I probably was impressionable at the age of about 11 by someone highly influential.

Here's his picture.

It was of course a lofty goal, but try I did.

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Old 02-25-2016, 08:06 PM   #39
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When I was 7, 8, maybe 9, I'm not sure how old, but I was frequently asked to loan small amounts of $ to parents/siblings. I used to keep a running tally on my Mickey Mouse chalkboard. I always did get paid back. Zero interest. I remember the most names/amounts on the chalkboard at one time was 3. It kind of set the financial mindset for me. Been good with a dollar ever since.
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Old 02-25-2016, 08:32 PM   #40
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So, you were born in 1961. A youngster!
No, 1957. The bank was founded in 1857 but this ad is from 1861.
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