Festival of Under 30 Finances #20

Welcome to the 20th edition of Festival of Under 30 finances! I recently returned from a much-needed family vacation, and so my question was:


"How has your family contributed to your current financial position and attitude? Do you plan to follow that example with your own younger relatives, or chart a different course?"


We received some very interesting responses to this question, including some full posts!


Family Lessons


Wanda at Well-Heeled says: "Mom helped me alot - in terms of paying for the bulk of my college tuition to teaching me about the importance of saving. I am probably more interested in mutual funds investing than she is, whereas she is focused more on generating cash flow from real estate - but the tenets of personal finance (spend less than you earn and save save save) I got from her."


Silicon Valley Blogger atThe Digerati Life notes: "Interestingly, I grew up without money being discussed much in our household, but we had no money problems either. So I don't believe my family had much bearing in how I turned out financially as far as my mindset was concerned, but they had a big impact on how my finances today turned out because without their help and past assistance, I doubt I would be worry-free today. My family is fairly generous with finances but did not really instill education in me, so I had to go and learn about finances myself. However, I hope to teach my children about finances as they grow up and impart in them lessons I learned on my own."


We also got long responses from the following posters:

plonkee mentions a lesson that she didn't learn from her family in Not A Money Script: Investing posted at plonkee money.



Aspeth shares the "lessons of a Depression-era grandparent" about frugal living in Whatever Happened to Frugality? at TwelveYearsOfBeingAnnoyedByChloeSevignyDotCom. This entry is one of the Best of the Festival!



Living Almost Large says that "I think I learned the most important skills from my parents about personal finance..." and that foundation helped while she learned some more lessons in Learning my financial skills at Living Almost Large.



And Big Cajun Man learns a lesson from his son in Zen, Thomas the Tank Engine and the Art of Financial Planning posted at Canadian Financial Stuff.


Family Finances

ISPF shares some guidelines on managing independent accounts toward common goals in Relationship Hack: “Independent Money Management, Common Money Pool” - How to Make it Work posted at Grad Money Matters.


Education



Silicon Valley Blogger lists the pros and cons of jumping on to the entrepreneurial track before graduation at Should You Quit School Because You’re Brilliant? posted at The Digerati Life. This is also one of the Best of the Festival!



Laws of Finance shares some frightening exchange rate figures at Studying in Europe is Getting Expensive posted at Laws of Finance.



Matthew Paulson reminds students how to manage limited school funds in Five Great Money Saving Tips for College Students posted at Getting To Graduation.



Michael Cook provides an overview of The College Loan Process posted at Suite101: Mortgages/Loans articles.


Saving

Wanda considers alternatives to traditional emergency savings in Maybe I don't need such a big emergency fund after all posted at Well-Heeled. And this is my final pick for the Best of the Festival!



Bryan C. Fleming suggests that saving for repairs lets a driver get a better car in How to Drive a Mercedes Benz instead of a Hyundai posted at Bryan C. Fleming.



Super Saver explains why young people will need to save so much for retirement in The Impact of Inflation posted at My Wealth Builder.


General Personal Finance

Larry Russell suggests ways to make the expense of a financial advisors worthwhile inFinancial advisor costs and the value of their investment strategies determine your return on investment from these investment advisor services posted at THE SKILLED INVESTOR Blog.



tc offers some basic reminders in 8 tips on How to make a million dollars posted at Investments & Loans.



He Just Laughs plans on becoming American Airlines' most valuable customer at A Million Miles Begins with the First Mile posted at Endless Gibberish.



Finally, Priya Jestin offers a long list of tips for money and life management in Starting Early: The Young Adult’s Guide To Personal Finance posted at Debt Consolidation Lowdown.

That concludes this edition. Submit your blog article to the next edition of festival of under 30 finances using our carnival submission form.
Past posts and future hosts can be found on our blog carnival index page.