She Strengthens

The Lasting Impact of Childhood Poverty on Adult Money Habits

Growing up in poverty can have a profound effect on our relationship with money as adults. While our experiences may not have been dire or life-threatening, they can still shape our financial decisions and emotions. For many of us, it’s difficult to talk about our childhood experiences without downplaying or qualifying them. However, it’s essential to acknowledge the impact of poverty on our adult lives.

A Complex Relationship with Money

I grew up in a seriously poor household until I was 11 years old. Although we never went hungry, we had very few luxuries, and I was acutely aware of our socioeconomic status. My parents worked hard to provide for me, but experiencing poverty and later moving to middle and upper-middle-class environments has had a lasting impact on my views on money. I’m grateful for the diverse socioeconomic perspectives I’ve had, but I also recognize that they can lead to unhealthy money behaviors and thoughts.

Guilt and Spending

To better understand the ways childhood poverty affects adult money emotions, I spoke to nine individuals who grew up poor about the things they feel most guilty about spending money on now.

Snacks and Guilt

Natalie, who grew up in a household where everything was homemade, still feels guilty about buying prepackaged snacks. She loves cooking, but the guilt of indulging in “fancy” foods persists.

Self-Care and Guilt

Emmy, who grew up poor but had wonderful parents, feels guilty about spending money on herself, even for something as simple as ordering dinner. However, she doesn’t feel guilty about spending money on others.

The Luxury of Self-Care

Katherine, who gets regular gel manicures, feels guilty about the frivolous expense. Although she factors it into her budget, she sometimes wonders if she could do it herself, just like her mom did when she was growing up.

Supporting Loved Ones

Paulina, who helps support her parents, feels guilty about spending money on herself, knowing she could send them a bigger check each month.

The Burden of Cosmetics

Richa, who grew up in a household where her mom couldn’t afford expensive beauty products, still feels guilty about buying them for herself. She often looks for organic alternatives at home.

The Fear of Debt

Sarah, who grew up with the constant threat of debt and financial ruin, feels guilty about spending money on anything beyond necessities. She’s worked hard to save up for a car, but still fears that disasters are lurking around the corner.

The Quest for Quality

Fred, who grew up in a large family where cheap food was the norm, still feels guilty about spending extra money on organic or sustainable food. He wonders if he’s being too extravagant.

The Guilt of Socializing

Evan, who grew up on the edge of financial collapse, feels guilty about spending money on social activities, like going to a bar. He’d rather invite friends over or make his own drinks at home.

The Luxury of Travel

Lia, who grew up in a household where travel was a luxury, still feels guilty about spending money on trips. She hopes to become more comfortable with the idea of traveling by the time she’s 30.

These stories highlight the complex emotions and guilt associated with spending money when you’ve grown up in poverty. By acknowledging these feelings, we can begin to work through them and develop healthier relationships with money.