Family and money (and Black Enterprise Magazine!)
There are always questions about nature vs. nurture. Why do we do the things we do? Is it our genes or is it our environment? I believe we are shaped by both genetics and our surroundings. So I believe that the way I deal with my money is a function of what my parents have handed down to me through their genes and through the way they raised me.
There is an article about me in the April 2010 issue of Black Enterprise Magazine (click here to read it!). The article profiles me and discusses some of my money tips and how I have managed my money. The article also discusses the influence my parents and more specifically, the influence my dad has had on my money management. I grew up watching my dad mind his money, restrain himself from buying extravagant things and maintain a modest life style so that he was able to support his family, pay for retire at age 60. I still call my dad when making financial decisions because I respect his money management style.
How have you been affected by the way your parents or the people around you have managed their money? Do you feel like they passed along information or skills that have made you a financial success? Or have you had to overcome some bad habits and lack of information?
No matter where you started out, remember that you can control your financial destiny.