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Do people who grow up poor tend to spend less money even when they're not poor

Home Personal Finance and Budgeting Do people who grow up poor tend to spend less money even when they're not poor

  • Avatar Jack_Sparrow 
    Participant
    Status: Physician
    Posts: 72
    Joined: 01/09/2019

    My family grew up rich but maintained frugal spending habits. I also had super frugal spending habits… Then I married my wife who grew up in a rich household and was a huge spender. Then over time I was turned into a spender.  We are not out of residency yet and we keep spending like crazy during our DINK years. With both of us growing up in rich homes, we have never had the feeling of running out of money, since we know parents would fund us. Leads to a lot of paycheck to paycheck spending.

     

    #235002 Reply
    Lordosis Lordosis 
    Participant
    Status: Physician
    Posts: 1807
    Joined: 02/11/2019

    “Even worse is giving gifts you cannot afford.”

    This occurs frequently. Not sure the motivation. At one point, we accidentally got into the “returning the favor”, more than replacing the “value”. The result wasn’t good. Spending on “gifts” with marginal values. Hard conversations to have. “I can’t accept this. But thank you for the thought.”

    Click to expand…

    It seems clear as day to me but it never goes over well.

    Head in the sand I guess.

    “Never let your sense of morals prevent you from doing what is right.”

    #235007 Reply
    Liked by Tim

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