Lessons from the Youngest: How Being the Baby of the Family Shaped My Financial Habits
Growing up as the youngest child in my family, I had the unique advantage of learning from everyone else’s trial and error. My financial literacy, work ethic, and spending habits were all influenced by my upbringing.
Learning from Others’ Experiences
I didn’t have to live through each path myself, but I got to learn from multiple sources. When I left for college, I’d already been the only child left in my parents’ house for two years, witnessing the leaving-home scenario play out twice. I knew money was a limited resource and made conscious decisions to exercise financial freedom.
The Power of Hand-Me-Downs
Like many with older siblings, I’m no stranger to hand-me-downs. I drove a 1997 Toyota Corolla for six years, followed by another hand-me-down car from my parents. Many would consider me lucky, but I learned to live below my means and practice extreme patience. I didn’t rush to take on unnecessary bills, and I made sure to take care of what I had.
The Benefits of Sharing
Living below my means translated into my living choices as well. I’m used to having roommates and sharing a fridge, bathrooms, and bills. When I moved to a bigger city, I was tempted to get an overpriced apartment, but I snapped back into reality. I learned to cook in bulk, adopting signature meals from my parents and siblings.
More Than Just Money
Growing up, my mom required each of us to have a volunteer job before getting our first paying job. This rule taught me how to work hard, give back, and see a project through to its completion. I learned that there are more important things than money and work. By observation, I quickly learned that many people don’t love their jobs all the time, if at all.
Savoring Time
I didn’t get my first job until my sophomore year of college, which allowed me to savor some extra time before jumping into the workforce. I saw that once my siblings became employed, they rarely stopped working for the rest of their lives. I was willing to have less money in my pocket to have some time I could not otherwise get back.
The Value of Family Lessons
With three older siblings and two parents, I had five people of various ages, career fields, and personalities to learn from and take into consideration when making my own decisions. Their experiences shaped my financial habits and taught me valuable lessons about patience, hard work, and the importance of giving back.
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