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Old 02-25-2016, 09:42 PM   #41
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My distant uncle. I got to know him a bit in early out of the house adulthood. He ran a successful pawnshop and explained quite a few things to me.

To this day I have the itch and capital to run a pawnshop.

But I can't bring myself to do it. You need to have that personality to do it.
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Old 02-25-2016, 10:26 PM   #42
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My parents lived through the depression. They never talked about money. It was generational (at least that's how I've always felt about it). They were also older when they had me and my brother (I'm a twin - the better looking twin). That probably played into it, too. I know now, not really understanding it at the time, that they were very frugal. Lived well below their means. We were never hungry or cold but when it came to things like the latest fashion trends, we just got "clothes". Whatever was on sale. Probably two sizes too big so they would last. I didn't even have to be in the store to try them on. They knew my sizes generally and just bought bigger. Hand-me-downs were a given. They did, at times, show real anger when we asked for something we actually needed, like shoes or new glasses. It's just the way they were raised. They were poor kids and if they did have it, they used it up and wore it out. To a degree, they expected their kids to do the same.

No question it influenced me. I wear clothes way, way past their due date. I have to be careful sometimes when I'm out. If I take my hat off to wipe my brow there's a good chance somebody will throw a dollar bill in it.

My first external influences of any merit, where I actually began learning things, were Bruce Williams from the old Talknet radio program and Ken and Daria Dolan. Remember them?

Ron
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Old 02-25-2016, 10:46 PM   #43
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We were never hungry or cold but when it came to things like the latest fashion trends, we just got "clothes". Whatever was on sale. Probably two sizes too big so they would last. I didn't even have to be in the store to try them on. They knew my sizes generally and just bought bigger. Hand-me-downs were a given

Boy, does that bring back memories although my parents weren't quite that bad. I had one winter coat for 3 years. It was a very good one but too big the first year, OK the second, too small the last. Back then, kids' clothes weren't all made by slave labor out of flimsy materials and they lasted longer.

Funny thing is- my dress winter coat is a classic camel one I bought at Brooks Bros. 33 years ago and I still love it.
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Old 02-25-2016, 11:49 PM   #44
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Earliest financial influence was first job at a car wash, just before entering high school. It was really hard work jumping into the back seat in order to clean the inside of the back window.

I am not sure if I heard this other influence earlier or later than first job. My mother told me that as a child she walked the train tracks along the waterfront looking for coal that had fallen from trains. This was taken home to be used in the coal furnace.
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Old 02-26-2016, 12:40 AM   #45
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My parents were frugal and LBYM. I remember watching Wall $treet Week with Lois Rukeyser weekly on PBS as a child with my parents.

First paper route I had was a giveaway, and I was sent out to collect $.40 per month "donation". Many paid graciously, but several were not at all inclined to do so. Can't really blame them, but a fairly tough lesson for an adolescent.

First real job was at a car wash. Target is right, inside rear windows was the first and worst job at the car wash. Moved on to better positions at the car wash, felt sorry for the bitter mgr, realized the valued of education, and grateful for the opportunity.
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Old 02-26-2016, 02:42 AM   #46
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I was 7 when my dad was injured at work. Mom and us kids took jobs picking green beans. We were paid by the pound and I made about 50 cents a day. Mom taught us how to work explained we had to pick every bean in our row or the owner lost money so we did them over until we did them right, since she was supervising 3 kids aged 6-7-8 she didn't make much either and dad didn't get much from workman's comp. That was the first time I remember thinking about money and how hard it was to earn it. My teacher asked us to ask our parents for dimes for march of dimes, I told her we didn't have money to give away. It taught me to pinch pennies my brothers would waste money buying stuff from the snack wagon but I didn't. We working picking green beans every year until I was 16, as a teen I made about 3.60 a day. I had $50 saved when I left home. Making 1.25 an hour and supporting myself I had a saving account still not wasting money.
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Old 02-26-2016, 06:20 AM   #47
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Ma paid us kids 1 cent for every sand burr we'd pick out of our crappy back yard. I've had a fondness for piece work ever since!
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Old 02-26-2016, 07:19 AM   #48
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I remember saving up my allowances to buy a Dynamite Deringer.
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Old 02-26-2016, 07:26 AM   #49
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I have a few.


One is being given one share of Ford Motor Co. by my uncle when I was very young and looking up its price in the Sunday NY Times. Every 3 months I got a small dividend check (under $1) in the mail, giving me my first taste of earning money without doing anything. My next taste of earning money without doing anything was seeing the interest earned in my passbook savings account. My mom would take me to the bank to deposit a check, sometimes the aforementioned Ford check, and if I hadn't been to the bank in a while, I'd see two entries in the passbook - one for the Ford check and one for the savings account's earned interest. I thought that was so cool!


My mom collected pennies. She had one of these cardboard booklets with slots to insert a penny for each year going back to the early 20th century and she had most of them filled going back to at least the 1940s. Her source for finding these pennies were little glass jars she kept them in before she and I converted them into rolls of 50 and brought them to the bank.
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Old 02-26-2016, 07:39 AM   #50
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We were given allowance and chores related to age. As the youngest I had the smallest allowance. No allowance till all chores were complete for the weekend. As my siblings went off to college, I had all the chores previously split among 3 kids - and the same allowance they'd gotten for their smaller chore set. I had to renegotiate to an hourly wage. Dad agreed to 1/2 minimum wage. Had to do it again when my brother came home from college (I was also in college, but lived local and still came over on weekends to do chores - part of the deal for getting my tuition paid). Dad was paying bro $10/hour to put in a fence. I was getting paid $6/hr for equally hard work (I'd dug the holes for the posts of the new shed, I'd chopped into chunks and hauled away a removed tree, etc.) I insisted on being paid as much or more than the "new hire". Dad ceded right away and later told me he was proud.

When I was younger and mom was a SAHM she had an "allowance" to run the household, feed us, etc. It was a tight allowance. But she got to "keep" any extra. She was excellent at feeding our 5 person family on a very small amount.

As a teenager I wanted fancier/trendier clothes rather than hand me downs that were a bit worn and out of style. Dad suggested it was a "need" rather than a "want". I used to save my babysitting money for the occasional purchase of Ditto or Jordache jeans.

Friends were given cars and had new/fancy clothes. Dad would point out their parents were on the edge of bankruptcy and weren't saving. That message didn't sink in till later... but he was right.
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Old 02-26-2016, 08:23 AM   #51
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Earliest financial influence was first job at a car wash, just before entering high school. It was really hard work jumping into the back seat in order to clean the inside of the back window.
Everyone should have at least one job like that. I worked in a small restaurant when I was 15; it was across from a major manufacturer and the lunch hour was crazy. Old guys used to sit at the counter drinking endless cups of coffee (free refills) and watch the hems of our uniform dresses ride up as we leaned into the compartments inside the counters to scoop out ice cream. A few of the women treated us like domestic servants. One week when I worked a lot of overtime and did some cooking (which consisted mostly of thawing stuff or nuking it in the deep fryer) I netted almost $50.

It made me realize that was NOT how I wanted to support myself, and also gave me a healthy respect for people who work their rear ends off at low-paying jobs.
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Old 02-26-2016, 09:29 AM   #52
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I was one of many siblings. Our dad issued passport sized empty ledger books (because cash "burned a hole in your pocket"), where our allowance would be posted. Any withdrawals were allowed, even if they raised an eyebrow. Not many of us continually hovered just above the zero mark, but some did (the want it now gene?).

$0.35 times your age, per week, IF you did your chores, was added to your ledger (this was in the early 70's). Oh, and NO advances! A different scale applied after you were 16 so you could actually buy fuel for the car (bringing the car home on fumes was a serious offense). Worthy purchases (like a bike or something) could often get a "save half" deal, where the other half would be picked-up by dad.

I think this structure had a lot of influence on me. I wanted to do something similar with our kids, but DW bought them anything they asked for
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Old 02-26-2016, 12:14 PM   #53
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Everyone should have at least one job like that. I worked in a small restaurant when I was 15; it was across from a major manufacturer and the lunch hour was crazy. Old guys used to sit at the counter drinking endless cups of coffee (free refills) and watch the hems of our uniform dresses ride up as we leaned into the compartments inside the counters to scoop out ice cream. A few of the women treated us like domestic servants. One week when I worked a lot of overtime and did some cooking (which consisted mostly of thawing stuff or nuking it in the deep fryer) I netted almost $50.

It made me realize that was NOT how I wanted to support myself, and also gave me a healthy respect for people who work their rear ends off at low-paying jobs.

In HS I worked as busboy/dishwasher for a year or so. Let's see, there was Salisbury Steak night, spaghetti night, fish fry Fridays. Hot kitchen with scalding hot water in the vertical lift dishwasher. Cleaning the oil in the fry-o-lator! Kids would die of fright now.

Once slipped on a grease spot and dropped a stack of 50 heavy dinner plates.

All of those old complainers had to wait for their dinners. Now I am the old complainers. Lol.
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Old 02-26-2016, 04:08 PM   #54
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My mother told me that as a child she walked the train tracks along the waterfront looking for coal that had fallen from trains. This was taken home to be used in the coal furnace.
Both of my parents did that, and I walked the tracks looking for Coke bottles to return for the 2¢ (later 5¢) deposit on them. Back then you could actually buy a candy bar for 5¢.
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Old 02-26-2016, 04:22 PM   #55
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Walking the tracks has a romantic sound to it, but the NYC subway system wouldn't have been a good place to do it. Not much coal, for one thing.
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Old 02-26-2016, 04:33 PM   #56
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Everybody I knew growing up worked long hours for nothing. Penny ante lives. Not a thing to aspire to. Work was shown to be an obvious waste of time. When I worked it was going to be FOR something. The few big money people I did know worked way too much for it. And it took years and years to get there. Anything you have to work that hard at couldn't be worth having. I'd gladly sacrifice some money in exchange for quitting early as long as the price was right

And Thurston Howell III's exclamation of: "People just don't seem to realize how hard other people have to work to make me rich"

There was something in that idea I found very motivating
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Old 02-26-2016, 07:55 PM   #57
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I don't recall a particular early financial influence. I have basically been a saver as long as I can remember. I saved halloween candy before I had money. My dad was not particularly good with money. It just seems to be something I was born with.
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Old 02-26-2016, 08:15 PM   #58
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My mom handled the budget, and had these envelopes that she put money into. My dad was into investing, and taught me a lot. The funny thing is he owned US Pipe and Foundry and National Gypsum. We kidded that the dividends were a "piece of pipe" or wallboard.
I bought my first stock at 16 with money I earned.
Strangely enough, I ended up working for that company as a summer job while in college.
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Old 02-26-2016, 11:47 PM   #59
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Not from my family. My mom, my sister, and brothers are savers. Typical LBYM.
I'm a spender. Allowance for a month was spent in 10 days. So my motto has always been to earn more so I can keep up with my spending. Nobody told me to save.
However, when I married to my husband is when I learn to save money. He told me, he's not into credit card debts. So technically he was my influence.


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What's your earliest influence?
Old 02-27-2016, 08:54 AM   #60
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What's your earliest influence?

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Everyone should have at least one job like that.
+1. In 9th grade or so, I showed up to the watermelon patch to earn some easy money. I was a skinny first base player while all the other kids there were football players, and it was coastal Georgia heat. The owner felt sorry for me and, when we finished, let me ride home with him in the cab of the loaded truck. I became a very quick learner because I did not return for day 2, and eventually found a fun, long term, year round, inside high school job in a jewelry and watch repair store. I had a good work ethic, but learned not to be ridiculous about it.
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