Welcome to the second season of Highly Sensitive Money! I’m thrilled to be sharing this next season with you. This season, we will hear from various highly sensitive people about their money stories. We’ll feature therapists, entrepreneurs, and financial planners who focus on social justice. Today’s episode is the only solo episode of the season, and I want to share something deeply personal lessons I learned from my parents about money.
Drawing Up the List
As I was reflecting on these lessons, I decided to write them down as a sort of tribute to my parents. It’s a list of all the things they taught me about money—both positive and negative. The idea came when I was talking with a friend about building up credit and various financial skills my parents instilled in me.
Early Financial Lessons
My dad often said, “Earn here,” pointing to his forehead, “and spend here,” pointing to his chest. This simple lesson about the importance of earning more than you spend has stayed with me since I was ten years old. Both my parents always emphasized, “Take care of your credit.”
Despite being born and raised in Mexico, they understood the importance of good credit in the U.S., having bought houses and cars themselves. This lesson helped me avoid carrying credit card debt and always paying it off monthly.
Spending Wisely
Be aware of why you’re spending. My dad often spent money to impress others rather than for practical financial benefits. While my mom wanted to invest in rental properties, my dad was motivated by status. This taught me to always question my spending motives.
Work Ethic and Enjoyment
Both my parents showed me that work can be enjoyable. Working alongside my parents in their store during school holidays was an exhilarating experience. This work ethic and the enjoyment of commerce have stayed with me, making my job as a financial planner highly fulfilling.
The Value of Education
Education was highly valued in my family. My parents were avid readers and lifelong learners. This love for education and the importance of picking the right career have always been central themes in my life.
Family Responsibility
Family responsibility is beautiful but can also be a downward spiral. My mom was often the provider for her family, but this sometimes prevented family members from becoming self-sufficient. This taught me the balance of providing support while encouraging independence.
Saving and Prosperity
Saving aggressively for opportunities and peace of mind was another lesson, primarily instilled by my mom. Her saving habits allowed her to seize opportunities and provide a safety net for our family.
Learning from Hardships
Scams are real—this lesson came from a painful experience when my mom was scammed out of money. It was a hard lesson, but it taught me to be cautious.
Anti-Capitalist Views
Some of my parents’ lessons were surprisingly anti-capitalist. My dad often discussed how consumerism can control people and how retail giants like Walmart impact small businesses negatively.
Migration and Self-Sufficiency
Migration is part of life. My family moved multiple times in search of better opportunities. This constant movement taught me
resilience and adaptability. It also instilled a sense of self-sufficiency, as I knew from an early age that I would need to fend for myself.
Life Brings You What You Need to Learn
Reflecting on all these lessons, I’ve come to realize that every experience, good or bad, is an opportunity to learn. My Buddhist practices have also taught me to hold the paradox of striving for better while enjoying the present.
I invite you, my readers, to consider what you’ve learned from your parents. What served you? What no longer serves you? Writing it down might help you teach important lessons to your children or even help you better understand your financial journey.
Thank You
Thank you for taking the time to read about my journey. I look forward to hearing your thoughts and reflections. What did you learn from your parents, and what do you want to teach your children about money?
Resources:
Article on Why You Need a Money Mentor
allthecolors.net for the Money Archetype quiz