My History With Money, Pt. I

What I grew up seeing around me.

What I wanted to do.

Today I am going to relate my experiences with Money from when I was a child to present day, in a loose chronological order.

My parents split up when I was approximately 10 years old and I don’t really remember a whole lot about our finances prior to that. What I do remember is that after that point, things were not easy.

We moved in with my grandparents, away from friends and family, started a new school, and began a different life. At the end of that school year, I began an unwanted tradition of working every summer on one of my grandfather’s shrimp boats and later in my uncles’ seafood businesses. Whatever money was earned went to help cover costs for my mother, my sister, and me to survive. I would get a hundred dollars at the end of the summer to buy school clothes for the upcoming year and that was the about all I would see of what I made.

My cousins of a similar age were doing the same work as me, but they got to keep all of their money, spending it on nice stereos, toys, etc., because their parents were making money and running a business.

I started learning about the businesses because it seemed like the way to not be poor. What I learned, besides the mechanics of actual operations, were bad money management habits.

Things seemed to be all about making sure you got your share out of the revenue, to the detriment of everything else…spending the holidays at hunting camps, spending the last bit of money you have, with no guarantee of future revenue.

This is not a good model to follow, especially if you are trying to maintain a steady income, much less, grow your income. Eventually, within a few years, both uncles were out of money, with no business to support them, because they only focused on the “right now” and had trouble planning for the long haul.

The takeaway lesson from today’s post is to not spend everything you make. Practice restraint and plan for the future. Short of winning the lottery like a former co-worker, you will not get rich quick. BUT, if you practice this as a habit, it should allow you to prepare for retirement.

Let me know what you think in the comments. Ask questions, tell your story.

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