5 Things I Learned About Money From Watching My Parents

[@crterwil]

What a great story. Your channel is my favorite when it comes to learning about money. I recognize my mistakes and you always inspire and educate without talking down to anyone. Thank you so much. Merry Christmas to you and yours!🎄

[@Colbleep1]

My dad had a subscription to Forbes which I started reading as a kid. I would ask him questions as a result . That started a lifetime of financial education.. A great father and a great friend. I love you still. Cherish your parents. I wish mine were still alive.

[@JoshuaTrinityWolf-dc4up]

Born in 1959 and I grew up in a business family that pushed for education. Magazines in the 1950's to 1980 would have put our education ahead so god bless your father. When I started dating my girlfriend and future wife in 1979 I was invited to diner at their home where i talked about our business. I could sense the tension and my mother in-law told me that she mentioned money at the diner table and she was given a slap in the face. I found out that it was rude to talk about money and so it's no surprise when I found out that my girlfriends grandparents borrowed money with big HFC loans to boost their image at the Golf Course and pay for expensive clothes and cars. It's rude to talk about money was the message.

[@yuckyool]

My uncle introduced me to Forbes. I learned how to invest, skeptically.

[@Batirtze-b6x]

Thank you for reminding me how lucky I am. ❤❤❤❤❤❤

[@bllackwing]

My dad always said, "Live below your means," and "Never spend your principal." I've followed these rules the best I can, and now I feel my retirement is now secure.

[@lmr691]

Remember the Christmas Club offered by banks? I saw my Mom do that for us. She was a frugal money manager. We were low middle income with sole income from my dad. After she passed, I found cancelled checks for my tuition. I used the money calculator to convert tuition she paid to today’s cost. Astonished to see it was as expensive then as today. She even sent me monthly cash to spend! My parents gave me the most stable future one would hope for.

[@stephencullum8255]

It is a myth boomers all had it good. Yes the upper middle class to rich did. But not working class boomers. In my early twenties I made more money than most my age and was that rare bird who could live alone. Most had roommates or working spouses. It still took about a week and a half of wages for my efficiency apartment. Buying a house was not that easy either. For one thing interest rates were high. At one time close to 20%. When they had over a decade decline to about 7.5% we thought that was low. House cost close to 4 times my salary, most people more. To buy a house for most was a huge stretch. To survive I had to be frugal and smart with my money. It has never been easy for the working person.

[@lmr691]

@ So true. When we bought our modest new home, interest rate was 9%. It was a right time for us we needed to move near my work and into a safer neighborhood. With keeping a tight budget, I paid off the loan in 7 1/2 years putting every extra cent toward the principal. It was. 15 year loan. Best financial decision we made.

[@MOstix13]

⁠@@stephencullum8255Your recollection is spot on. I recall almost the same experience. Boomers went through rocky times for sure but what young working people are going through now seems worse.

[@DrSchor]

@@stephencullum8255 Isn't everyone a working person?

[@stephencullum8255]

@@DrSchor Most but not all.

[@greybeardbass]

My parents had little understanding of money and I ended up supporting my dad at the end of his life. That prompted me to become financially literate.

[@pattiellen5339]

My parents bought an acre of land and built their home in 1970. My dad did as much of the work himself as he could. The total cost of land and house was $19,500. They still live in that house. I remember him saying, “It might seem small now, but it will be the perfect size when all of you kids are grown.” He worked his entire career for Eastman Kodak, we grew most of our food, and all five kids had jobs when we were old enough. The first money I remember earning was picking dew berries and selling them to neighbors. I was probably 10 years old or so. It takes a lot of work to pick a gallon of berries, and that hard work made me hang on to the money.

[@HolySchmidt]

great story

[@kurtbilinski1723]

Both my parents went through the Depression as kids but were certainly impacted by it. They were always frugal, never used credit cards, and I can't count the number of times I heard "who left this light on?!"

[@DavidEVogel]

So true. Many children watched their parents stand ion the bread line during the Great Depression. They learned to be frugal.

[@annhysell6064]

Exactly. Still can't help but turn on/off when entering/leaving a room..passed that on to my 19 yr old son. (and he drives my 250,000m Kia Soul). Be well.

[@20thcenturyrelic]

My dad was born in 1933 and was a kid during the Depression. But the funny thing was, as a teenager, I was the one who went around turning off lights (my mom's training.) One time, he caught me scraping out a margarine container with a spatula and got upset. He told me never to do it again, and I never did in front of him. I think it must have triggered him and reminded him of his Depression childhood. (He didn't punish me or anything. But he was genuinely upset.)

[@cropduster8798]

@@annhysell6064 Passed it onto our kids too. Whilst all the neighbours are driving fleeces and flying overseas four times a year we paid off a house that we built in 18 yrs. Still the neihbours are spending like no tomorrow and we are squirreling. Teach your kids to be frugal. It's not something shameful but a valuable skill.

[@KR-xv3ko]

My dad was also born in 1933. He was triggered if we didn’t eat every bit of our food, and I mean ALL of it. He would eat an apple down to the seeds, and he ate every tiny bit of chicken until the bones were picked totally clean and then saved them for stock. And every once in a while he get a whole raw russet potato and bite into it like an apple. I asked him when he leaned to eat raw potatoes that way and he said when he was in elementary school that was what most of the kids ate for lunch. I was shocked and he laughed and said that at time he felt lucky because his school provided if for free. He grew up in Pasadena, CA.

[@timsilva1944]

How nice of that lady to let you in to see the house! I concur. My parents had a completely different outlook than people today. Both born in 1927. Mom is still of sound mind and laments of where we are today, despite all of the advancements.

[@amyyates8273]

I’m younger than you are but still so lucky that my folks imparted this wisdom. And part of it wasn’t through “boring” lectures but by example. Trying to do the same for my kids.

[@user-yj3ob9kd3l]

One of the most important pieces of advice from my mom was to pay off the credit card every month. I use my cc for everything to get the bonuses. I've never paid a penny in interest. P.S. I won't pay an annual fee, either. Nope!

[@HolySchmidt]

Sound advice

[@13thBeatleJr]

That’s what I’ve always done

[@lynnanderson8062]

You got it right.

[@chiaraperry472]

Good plan, I put mine on autopay!

[@simonthebroken9691]

Ok. Who pays for your bonuses? The bank isn't your friend. They don't pay.

[@Paul-GrnHil]

My dad had an expression regarding buying something on sale that you don’t need. He’d say to my mom” Honey, we can’t afford to save that much”. I’m 67 and still quoting my dad’s wisdom to this day.

[@pattiellen5339]

😂 I love that

[@rhondaregister8081]

I'm going to use that! Love it.

[@Paul-GrnHil]

My dad would be proud. Enjoy

[@JP-Au-Schulz]

I had an aunt in the banking industry, she taught me everything. She was good, really good with money and investments. I had an early interest in money and investing, she taught me to take a risk or two, something my father would never do, and I did jumped at opportunities, so glad I did. She passed several years and I miss her, her advice and her finical "wit." Your video hit on much of what she said and did. Thank You for sharing. I would not be where I am today without my Aunt Besty.

[@woodworker5413]

My father was a frugal child of the Depression. My mother was a spendthrift. My lesson: marry a good manager.

[@mikewatson4644]

Thank you for the videos that you do. My parents were young adults during the depression. Mom was very tight with $$. Dad was excellent at fixing things. I learned a lot of habits from them that have served me well

[@Firefighter53]

I also was a teen karate instructor in the 80's. After finishing college with a social science degree, I realized that I may not have a lot of money to work with, so I'd better be smart with the money that I earn. I found a book titled, "The Wealthy Barber" by David Chilton. That book started a change in my life for the better, and I read a few books every year (during the winter weather months). I'm trying to pass on all that I can to our son so that he can prosper as well.

[@SuburbanBBQ]

This is easily my favorite video of yours. I absolutely loved hearing about your trip back to your old house. Your Mom did a killer job on the woodwork. That was a ton of work and it paid off.

[@jennysroad]

That dining room is stunning.

[@Jsfrog]

Five things I learned from my parents about money: 1. Live beyond your means. 2. Save nothing. Zero. 3. Buy a huge house. Don't maintain it. Let it fall to pieces over the years. Then get divorced and have TWO houses. 4. Do not plan about money or retirement. Have zero clue about what you will do when you're too old to work. 5. When you do come across a large sum of money (~$1 million), spend it like crazy on stupid stuff so it disappears. My wife and I are fine, but I wish schools taught basic finance and money planning to everyone!

[@splitliving]

Schools do! However, it’s an optional (elective) class. Should be mandatory. Maybe in place of one of those useless algebra classes.

[@jbalconi9903]

My two cents: Most of the kids who take the class on real-life math (how interest rates work, taxes, etc.) don't retain it. Kids with part-time jobs or young adults who are financing cars use the skills right away.

[@LadyCaroline123]

There’s a reason they don’t teach basic money management in school.

[@GrannyLinn]

Take the Dave Ramsey course. It’ll undo all that for you!

[@jjwintrs]

Ouch...sorry to hear! 😮

[@timmountford8610]

I wasn't taught about finances growing up. I had to learn on my own. It took me years to learn. So if your a parent please teach your children about finances.

[@HolySchmidt]

Thanks Tim

[@timmountford8610]

@HolySchmidt Your welcome!

[@quit2quilt525]

Often time the parents don’t know. That’s why the cycle of financial irresponsibility goes on. Need to be taught in school instead of teaching children about gender identity.. smh

[@staceyford6733]

I wasn't taught either. Like you, I had to learn on my own.

[@JohnJohn-wr1jo]

​@quit2quilt525 In my opinion it starts much earlier than school age. Kids that are given things early in life without understanding the value or having to earn it are generally being set up for financial issues down the road. It starts as a toddler in the store being granted a toy or treat every time they go in a store. Instant gratification... I've seen it for generations within my own circle of family and friends. It usually becomes a precursor to a lifetime of financial issues

[@nunyabidness-y2r]

Going down to the mall, wearing your favorite 501 jeans and your Ralph Lauren polo t-shirt. I feel so called out right now😅

[@aytendincel8533]

😂😂😂😂 Me too. 😂😂😂

[@HolySchmidt]

I did it too!

[@williamfrench3796]

Hi Geoffrey, I enjoy your videos, expertise, and insights. I learned what not to do from my parents when it comes to saving and investing (i.e., gambling, divorce, poor money management, etc.). A self taught Boglehead who has achieved financial freedom. I also studied/trained in the martial arts - which instilled key life values that promoted personal growth, focus, self-discipline, and positive social behaviors. Keep up the good work!

[@salthead3]

Love the coffered ceiling and the wainscoting. It would cost a fortune to recreate that today, and yet features were common during that era.

[@annhysell6064]

Exactly how my parents taught me..I'm still frugal and have invested well since my late 20's. (Born 1967). Friends wonder how I am retired now. My father has passed, he left mom all set following a long career working for Cleveland Electric Illuminating. I'm mom's caregiver, and we still scrutinize every expense. Love your channel and recommend to everyone. Thank you. Happy Holidays.

[@HolySchmidt]

Thanks for the kind words and comment

[@wilsontaylor234]

My parents were born during the 30's, so they were greatly affected by the depression. I can still remember my mom telling me to save for a rainy day, because rainy days will come. I grew up on a farm and started working for a neighbor on his farm during the summers when I was 7. I always saved what I made, so that I would have spending money until I work again the next summer. The other thing that I learned was that I didn't want to farm for the rest of my life. I wanted a job that I could use my brain instead of my back to make a living.

[@cheryldunaway9177]

I accidentally fell into a programming career before I knew what computers were about. I lived as my parents taught me, beneath my means. 40 years later, I’m retiring - not wealthy but comfortably. (Which is wealthy to me). 😊

[@EJJ-EvArms]

You've aced it. For a long time. Congratulations.

[@SusanVornov]

I've sent this video to my son since you recap many of the things we've told him through the years. We didn't live through the depression, but we remember the Carter years stagflation all too well.

[@RC-eb5hq]

My parents lived through the Depression, AND I was a teenager during stagflation. First time my parents became involved in local political meetings..they realized they couldn't afford to leave the same people in power who created the problem!! 🤔

[@LTVoyager]

Speaking of things learned long ago that still apply today is one thing I learned in high school writing and speech classes that seems to be completely absent on social media today and this video is a great example of that loss. What is I am talking about is the mantra my English teacher had that went something like this “Tell them what you plan to tell them, then tell them, then tell them what you told them.” Videos like this just cry out for an introduction that says “I am going to discuss five things I learned from my parents” and then list those five things. Then go through the five as the video does, but then at the end summarize all five again. This greatly increases retention of information, but I see virtually nobody on KZbin who does this.

[@EJJ-EvArms]

Excellent advice and I remember this well from my own writing classes.

[@tammy9964]

In 1971, my mother and I visited Oakland, CA. I got to see Jack London Square. It was very exciting time. We visited my cousin who lived in Walnut Creek, CA. Love the home you grew up in. It looks like it is a Craftsman. Thank you for today’s video. Merry Christmas 🎄🎁

[@joeysocks5718]

Really enjoyed hearing about you and your past . Thanks for sharing

[@auntiesam8489]

I enjoy every video of yours that I can watch. This one is my favorite so far. Thank you. MERRY CHRISTMAS 🎉❤

[@take5th]

I have tried to keep my parents’ money ideas intact and pass along to my kids. It has been a great help. The depression was a clarifying event for them.

[@sharonjones6622]

Great to know you are from Oakland, growing up in Qakland gives you character and allows you to move in the world fearlessly!

[@HeatherCampbell-kc7fx]

My parents didn't teach me anything about money. Learned it myself from books at the library.

[@arthurbishop3173]

Same here. My parents were hippie musicians who ignored money and treated it like it was bad.

[@Sasa-pm7jc]

Yup!! I lived in that era too. Be Unfortunately that was ME!!!​@@arthurbishop3173

[@Mimi-ry4dt]

Thanks for the video & sharing childhood stories. Beautiful home you lived in with your parents years ago.

[@gregmccarter3243]

What a wonderfull story ...thanks for sharing.

[@HolySchmidt]

You are welcome Greg

[@Qrail]

My parents, born in the 1930’s, didn’t really give me financial information. My Dad bought a new car every 8 years, and in 1962, he bought a fixer-upper house for $28,000 on 2 acres in the Bay Area. In 1972, a house in Alviso new was $137,000. Now both of those houses are $3.5 mil, and $650k. My friend Al has always rented an apartment for the last 40 years. Is he smart? His longevity has allowed him to be paying about 1/2 the cost of the current rent. Finally, sticking with a career, or a company has rewards. 4 of us got together for breakfast recently. We are all retired, now, but we have 119 years between us at a place that was inaugurated in 1973. Thank you for your video content. Keep teaching, and we the viewers will keep trying to learn.

[@rachaelnuchols764]

What a great experience to have and a special photo❤. Thank you for sharing 😊

[@buyerclub2]

Hey, I have watched your videos for quite a while but I think this is my first comment. There wre two things I really loved about this one. That picture of the hands and feet for mutigenrations and that story about yhou going back to the home that you grew up at. So glad it continued to be taken well care of. Have a good holiday. I too use Boldin, and do beleive it is of good vaue for the $. Thanks for sharing

[@HolySchmidt]

My pleasure. Thanks for the comment

[@waterbug1135]

As a little kid I was with my Dad buying a new car. In the office negotiating the price the dealer was kept talking about floor mats and undercoating and my kind of screamed "I don't care about the price. Just tell me how much per month!" If as a little kid I knew about interest cost. Mom and Dad were always buying on credit. I never bought a car on credit and have never paid interest on a credit card. Home mortgage is the only credit I've ever used. Thanks Dad.

[@billimbriale]

Mr. Schmidt, one topic that I have not seen addressed anywhere is how to assess what shape your retirement is in when you are in it. For example, you are married and both are retired. You are 72 years old and have a retirement account and income from Social Security or Annuities. How can they assess their position? There are tons of videos and other sources to help those about to retire, but what about when you are further along? Thanks for the great work you do on this channel.

[@donbain5375]

Beautiful video. Well done. Thank you, Geoff.

[@HolySchmidt]

Thanks Don

[@DavidEVogel]

I watched my parents do cash envelope stuffing. $20/payday for car maintenance, $10/payday for house maintenance, $5/payday for property taxes. There never was a money emergency. The needed cash was always in the envelopes.

[@commonsense6967]

The Dave Ramsey method, lol.

[@jjwintrs]

@@DavidEVogel I did that when I was first on my own and cashed a paycheck each week.

[@BrndshTV]

I have the "spend on what you need only" and save all of the rest.

[@maaxt]

Geoff, this video should be shown in high schools. Excellent points. I did not mind the brief commercial in exchange for the invaluable advice over the years

[@reneb6702]

Sweet story with a nice lesson wrapped in there...thank you ❤

[@HolySchmidt]

My pleasure

[@henrycarlson7514]

So Wise , Thank You .

[@HolySchmidt]

You're very welcome

[@richb1576]

My dad taught me how to fix things. He would never buy anything twice. Buy once, fix when needed was his motto

[@robedmund9948]

Nice! My dad taught me to buy the tools to fix whatever it was yourself. That way you new the quality of the work AND you got new tools!!

[@richb1576]

@@robedmund9948Getting new tools is always good.

[@rhondaregister8081]

My father retired while I was in high school, he was 11 years older than my mother. I had my heart set on a new VW Bug convertible in the showroom at our local dealer - I just had to have it. I asked my dad to lend me the money (a little over $3,000 at that time) - (I was working and would pay him back). He said no. Thought I could wear him down so badgered him for several days - he still said no. Years later I asked him why he didn't lend me the money. He said he knew I would always drive with the top down and if I got into an accident and the car rolled, I would have been killed.

[@martyb3783]

Great video with great information. I learned allot from my parents, unfortunately it was learning from their mistakes. I am lucky in that regard as I am quite comfortable financially. As a former Coastie myself, tell your dad I said "Semper Paratus!"

[@fredesch5133]

I never wanted to follow my parent's financial plans. They believed in always buying the biggest house you could afford. I got good financial information from taking a college course - Personal Finance offered by the business school for non-business majors. One of the five most useful college courses I took.

[@user-yx3zl4kh8h]

Stability was a full pantry, DIY repairs, and not being wasteful.

[@jjwintrs]

Hello from Oakland! Lived 30 years near Oakland High & had to sell the family's apartment building in the last year. Thanks for sharing your personal story. 😊

[@HolySchmidt]

my pleasure. Great to see a comment from Oakland!

[@Honestandtruth007]

It's nice to know You are from the 80's.........and ..... me too graduated 87 😅❤😅 I just love those days songs

[@rachelr9272]

Class of 1987!!!

[@msmiller57]

4 channels Geoff - don't forget PBS...🙂

[@michaelswami]

Before it went totally woke.

[@daniellecomeau2996]

We had 6....PBS, ABC, NBC, cbs, 38 and 56

[@Scotty2hotty-xc6gi]

My family was poor and we only had three channels and yes, they were only black and white😂😂😂😂😂

[@timsilva1944]

Yep. As a child, YOU were the remote control.

[@HolySchmidt]

Ha! Of course!

[@martyi398]

I learned more from my grandparents that lived through the Great Depression, my parents were good people although they lived beyond their means & paycheck to paycheck, it was feast or famine in our house my mother was only able to go to the store every couple of weeks and picking up essentials eggs, milk & bread the alternate week, so we (brothers & sisters) grew up hungry a lot of the time, taught me I had to start working young to help with the essentials I needed although it was difficult watching my friends go off to college & enjoy recreation while I had to go to work!

[@Five0Music]

That these former “standards” have been forgotten are at the very base of the “retirement crisis” that exists today. I learned by watching my parents NOT follow these wise paths, and how their lives looked because of it. Through the works of financial writers like Larry Burkett, I gained financial knowledge that my grandparents called common sense. When I was foolish, I paid the price. When I was wise, I benefitted. I now remember the Foolish starts with F, like Fly. Wise starts with W, like Walk. Where I’ve Flown with Foolishness, I Failed. Where I’ve Walked with Wisdom, I’ve Won. Financial security is, indeed, a marathon… but slow and steady wins that race. If you don’t understand these 5 points, even if you manage to get rich quick, you’ll get poor just as quickly afterwards. I hope this video is shared far and wide with younger people. It is so needed today.

[@chiaraperry472]

Great financial advice and support from my mom and dad… -savings account started in my name at 6 years old to save my allowance -working to get paid, chores or a job -investing advice, start early in your 401k, save consistently. -college debt free- thanks Mom and Dad, (in state tuition) -make your own money, have accounts in your name (I am a woman), I had a checking account at 13 Yrs old -don’t be married to a car payment. I have passed this along to my children.

[@RC-eb5hq]

Same here. The second I could write my own name, dad trotted me down to the bank to open my own account! I understand why...he was 9 yrs old when the market crashed in 1929 and never had a full 3 meals a day after that until he entered the army at age 22.😢

[@marymorris7423]

9

[@dianediliberto1876]

Thank you for another informative video.

[@dukaka2kaka886]

Great story about the home in Oakland. Great advice.

[@esthernoel3793]

Thanks Geoff!

[@HolySchmidt]

My pleasure Esther

[@TheNeighbor-s3s]

I can remember taking an annual 45 minute bus ride into the city for school shopping. Grammy came along and treated us all to lunch at Stauffers where they had white linen napkins and stemware. Wow! Since the school clothes required effort to procure, we cared for them like a precious commodity.

[@edl1957]

What I learned from my parents who were immigrants and experienced the depression: 1. Live within your means. 2. Persevere. 3. Be patient.

[@HolySchmidt]

Sound advice

[@brookemiller7230]

The East Bay was a great place to grow up. I grew up there too, and still live in the Bay Area.

[@idamariarosenberg8659]

The house you lived in at one time looks beautiful!

[@curlyb4c95]

I grew up extremely poor. Didn’t like it. Made sure I did everything to change that. Which I did. Poverty and lack are no fun. Trust me.

[@hilarytorres5361]

Thanks!

[@glennlarson9343]

Beautiful home. Similar to ours in NE. Bungalow

[@digitalcanvas4444]

Excellent video. Thank you.

[@HolySchmidt]

Glad it was helpful!

[@C2yourself]

My dad grew up in Oakland/Piedmont, parents worked very hard and owned a meat market, had a decent hike like the one you grew up in. Later as an adult my dad owned a couple old houses and fixed them up. They all had a strong work ethic, invested in real estate and lived a nice lifestyle

[@HolySchmidt]

Very nice!

[@lovethomassowell]

Thank you for another well-crafted video. Excellent point about the forced-savings benefits with buying a home. My parents unfortunately taught us what not to do. Triple mortgages on a giant house they couldn't afford even with one mortgage. Later, my siblings and I heard at the last minute that the house was up for a sheriff's sale due to unpaid debt. It almost bankrupted us kids trying to help them save the house. It made us kids very frugal in life and thankfully we are all retired now and financially independent. My kids know about the importance of financial planning and have a positive and growing net worth.

[@gregoryholliday6017]

501's. Gotta Luv them.

[@garyharper2943]

The only thing I learned from my parents about money is they didn’t have any and I knew I wanted some.

[@nellie...]

Interesting thanks for sharing.

[@HolySchmidt]

You bet

[@markp4967]

Love your content Holy Schmidt. KZbin makes your vids almost unwatchable with all the forced promotions and advertisements. Damn shame...

[@Lion_McLionhead]

Their gig was passive income from high yield bonds. Suspect the passive income from high interest rates has joined pension plans in valhalla.

[@tsteur]

I was never taught any financial literacy and learned what not to do to prepare for retirement

[@canileaveitblank1476]

My parents advice: *I’ll give you something to cry about!* *If it weren’t for you damn kids!*

[@aliciasteele1278]

Great Video Geoff! Best advice.."best kind of debt is no debt". Merry Christmas, 'All The Best in 2025!

[@mitchburk5112]

My depression era raised parents were tremendous savers but completely refused to invest, putting everything in cd's. They had a comfortable life but could have had so much more by taking on some moderate amount of risk.

[@jasonmalstrom1043]

I thik the biggest difference between my silent generation parents and I have been that they were very risk adverse in investing throughout their lives, while I've been comfortable investing a large perecentage into index funds. Right now for me renting makes more sense for my lifestyle, and I do invest the different between rent and total home ownership costs in order to avoid lifestyle inflation and to help mitigate the financial damage of not having property.

[@mikepiper6077]

There is a phenomenon where great grandparents create wealth by the time it gets to grandchildren the wealth has been squandered. The 4th generation starts from scratch. I seen this personally. Luckily with Devine help was able to.implememt course corrections. Still made mistakes but learned along the way

[@HolySchmidt]

Thanks for the comment Mike

[@glennet9613]

An old expression is “rags to rags in three generations”

[@michelem226]

I'm in my 40s and have never owned a home, because I move a lot. And, yes, I invest quite a bit of excess. I probably won't own until I retire. I'm hoping to pay cash at that time.

[@NatesRandomVideo]

“You might remember tulip mania from 1636…” Can’t say as I can. Tad too far back. 😂

[@HolySchmidt]

Admittedly, I might have worded that differently.

[@NodrogMacphee]

The trouble with sticking with one career these days is if the world goes sideways and leaves all your skills redundant . IT guys have found this to their cost

[@jackie0604oxon]

That's a very interesting video, thank you. My parents lived through wartime rationing in the UK, mum was very frugal with the household budget. She made a lot of our clothes and mended them, also knitted for us too. She taught me how to sew and knit, I still do a lot of knitting, also mending by hand and with my sewing machine. She also cooked almost everything from scratch, something that I do as well.

[@HolySchmidt]

Great story- thanks for posting!

[@paliacho9]

Love the vids. Thank you for them. I'm 60 and dont want to be here in the northeast. If i plan to leave within 3 years, wouldn't you agree that i should rent an apartment and not buy at these high prices? Ive gone over the rent vs buy scenarios and sometimes i can convince myself to buy, a day later to rent. Im in a cheap room and really need something more comfortable just for mental and physical reasons alone. Anybody have any advice?

[@thomasmoshier3920]

Some months after the purchase of our home. My wife found a hidden lingerie box and inside was a leather corset. Immediately she accused me of all manner of impropriety. My impassioned pleas of innocence to no avail. Upon further inspection of the box however, I found a note that stated this was purchased by the previous owner as a Valentine’s Day gift to his wife. And no, I never received an apology…..

[@kurtbilinski1723]

You expected an apology... I'm sorry... that you expected one :)

[@Scotty2hotty-xc6gi]

I think the reason a lot of parents didn’t teach their children about money in the 50s and 60s and 70s was because those parents never had much money⁉️⁉️⁉️⁉️⁉️

[@donhebel1011]

We sure never had much extra at any given time, especially while raising kids through recessions and layoffs.

[@theresavasek4780]

Child of 50s and 60s, adult in the 70s onwards... Maybe my parents didn't have alot of money, every cent was squeezed for all it was worth. 9 kids. Grew up in a nice home, in a nice part of town. All us kids learned financial lessons that have served us well through our adult years.

[@Flownthecoup23]

Sadly, I received no financial education from my parents. I grew up forfeiting my financial future always being in debt. I no longer live that way…better late than never 😊

[@lynnanderson8062]

I learned about money by asking questions...many questions,

[@Ripplesinthewaters]

Your parents got a Victorian in Oakland for $70,000????? Geez!!! My parents bought a much smaller house near LA in 1987 for $142K. Oakland is not a nice place to live anymore. What a beautiful house!!!! I love the wood. We used to own a Craftsman house in Ontario that had woodwork just like that. Curious: where do you live now? Do you own an old house? Have a great new year!

[@kimwieczorek1879]

So you're a black belt?! Thats cool😅❤

[@dolfinwriter5389]

I wish I could have afforded 501 jeans and Ralph Lauren shirts when I was in HS. As for lessons learned, we haven't YET learned after almost 100 years since the 1929 crash, to BAN margin!

[@stevenweiss2148]

My friend moved to Oakland California..he was having a hard time finding a job...3 months later he called and said he got a job...as a tailgunner on a Oakland school bus

[@MAMAGGray]

I am from Texas Louisiana Arkansas and Mississippi

[@splitliving]

Use it up, wear it out, do without. And pay cash.

[@kellykersten8828]

My mom taught me, I taught my kids, they're teaching their kids. Money; spend some save some give some away

[@markbernier8434]

I was very lucky to be instructed in how the stock market worked when I was about 10 or 12 by a family member. Those lessons have served well from then past my retirement age.

[@marilynm5024]

Live below your means. Be content with what you have. Don't try to keep up with other people. Save for a rainy day. Prepare for the what ifs. A used car bought with cash is so much better than a new car bought with a bank loan.

[@HolySchmidt]

Well said

[@July.4.1776]

Dad always said ….. “It’s not how much you make it’s how much you don’t spend” ….. RIP

[@beaversstumpgrinding3352]

If in 1880 you owned 20 silver dollars or a single 20 dollar gold coin the trade was equal, but now a tube of 20 silver eagles cost about $680ish, where that 20 dollar gold coin is $2800ish.