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Were you encouraged to invest your money as a kid or spend it?

  • 26-05-2005 1:25pm
    #1
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭


    Just a thought.

    When I was young my Mom used always encourage me to save, opening an account on my birth, matching any money I put into an account with the same amount from her etc.

    It really left an "investment" mindset in me. I've never been comfortable with the idea of not having "money put aside". Was just curious if anyone else shares this?

    Were you encouraged to save when you were younger? 11 votes

    Yes
    0% 0 votes
    Kinda, did the whole savings stamps thing in primary.
    81% 9 votes
    No.
    18% 2 votes


Comments

  • #2
    David19
    Registered Users, Registered Users 2 Posts: 925 ✭✭✭David19


    I wasn't really told either way. I've always been a bit of a saver though. I remember I had communion and birthday money saved for years. I still see myself as a careful spender, more of a saver than a spender. When I get out of a college and start earning more money I'll definitely invest some.


  • #3
    0utshined
    Closed Accounts Posts: 1,746 ✭✭✭0utshined


    My parents were similar and did try and teach me to save, I still remember my Henry Hippo savings box and that bee from First National! Even when I first started earning as a kid it seemed natural to put a bit in the bank.

    It helped me be more aware of the value of money and I think it's stood to me, I still have an aversion to loans and need to have a bit of money in my F.U. fund if nowhere else to feel comfortable.


  • #4
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭nesf


    0utshined wrote:
    It helped me be more aware of the value of money and I think it's stood to me, I still have an aversion to loans and need to have a bit of money in my F.U. fund if nowhere else to feel comfortable.

    I have an aversion to loans also. Not that they aren't useful. I just look at them as a last resort.

    I hate owing people money and paying interest on it. It's never sat well with me.

    Sure spotting 20 quid off a mate on a night out, but owing money to a bank? No thanks, I'll have a mortgage one day and thats about as much debt as I want.


  • #5
    David19
    Registered Users, Registered Users 2 Posts: 925 ✭✭✭David19


    nesf wrote:
    I have an aversion to loans also. Not that they aren't useful. I just look at them as a last resort.

    I hate owing people money and paying interest on it. It's never sat well with me.

    Sure spotting 20 quid off a mate on a night out, but owing money to a bank? No thanks, I'll have a mortgage one day and thats about as much debt as I want.

    Actually that is something I have learned from my dad, in general don't take out loans, especially for cars. I'm the same, I'll only have mortgages.


  • #6
    ionapaul
    Registered Users, Registered Users 2 Posts: 5,307 ✭✭✭ionapaul


    Funny, me too, a mortgage is the only loan I ever plan on having...in my late teens and early twenties I borrowed small sums off the credit union, but in the half decade since I haven't borrowed a thing from any institution. I have always been a saver, but it wasn't particularly encouraged in my house, in fact my father isn't the best with money TBH, he loves getting the letters from the bank offering big loans! :)


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  • #7
    LoneGunM@n
    Closed Accounts Posts: 1,414 ✭✭✭LoneGunM@n


    My parents always told me the importance of saving. I opened a Henry Hippo account on my 7th birthday & always saved half my pocket money & all my present money for years!

    Even now, I'd rather save the money than take out a loan ... but then I got a mortgage & my savings were swallowed whole to fund the deposit :mad:

    Started saving again now though ... It's a discipline that needs to be started early & continued on!!


  • #8
    the_syco
    Registered Users, Registered Users 2 Posts: 37,316 ✭✭✭✭the_syco


    Parents tried to get me to save. Had the whole piggy bank thing. Now, I have a CU account, and a bank account. The CU account is for saving (no easy access to it), and the bank account is for spending.


  • #9
    simu
    Closed Accounts Posts: 10,730 ✭✭✭✭simu


    Hmm... I opened a few savings accounts as a kid to get the freebies but never used them. I don't think my parents ever encouraged me to save money but they didn't put a lot of emphasis on spending either so I became a bit of an piggybank saver.

    Nowadays, I always make sure to have money set aside. I find it very strange when people tell me they have E20 left until the end of the month and so on!


  • #10
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭nesf


    simu wrote:
    Hmm... I opened a few savings accounts as a kid to get the freebies but never used them. I don't think my parents ever encouraged me to save money but they didn't put a lot of emphasis on spending either so I became a bit of an piggybank saver.

    Nowadays, I always make sure to have money set aside. I find it very strange when people tell me they have E20 left until the end of the month and so on!

    People's attitudes to money fascinate me. I've found that with most people you can trace said attitudes back to their upbringing and how they saw money being used.

    Ahh, sleepless nights. Perfect for idle contemplation :)


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