Quote:
Originally Posted by AGDee
Two kids raised by the same two parents under the same lifelong financial conditions and they have such different attitudes. Is this an inborn thing?
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Dee, I think it is. My sister and I are pretty much the opposite when it comes to this sort of thing. I only remember asking for a few things for Christmas when I was younger, and now when I look back on them, none of them were ever more than $30. My sister, on the other hand, was the complete opposite--even now, she asks for some pretty expensive things. She never utilized those basic financial lessons in college, lost her scholarships and had to come home, and ruined her credit pretty badly. Now, she has to rely on my parents for simple things like getting a credit card, cosigning on a car, and getting insurance. Forget buying a house any time soon.
My parents, bless them, do try to make it fair for us (despite the fact that I'm 27 and she's 34 and I can pretty much buy whatever I want). About a year ago, she needed some tires, and my parents got them for her. Around that same time, though, they bought me a coat that I had my eye on for a while. My sister was upset, and said that it wasn't fair that I got a coat while she got tires.
I think some people are hard-wired to be savers, and others to be spenders, even when they came up with the same financial circumstances. My parents have always been good savers and investors, and I remember some of their financial lessons. Even now, this financial climate didn't prevent my father from retiring next month, as was his plan for a few years now.
I'm not saying that your daughter will foul up like my sister, but I do think it's inborn and takes a lot of early intervention.