What's the best piece of advice that your parents (or whoever raised you) taught you about spending less/saving more?

I love my parents but they are horrible with money.
I guess you could say that they taught me what I don't want to be like... but they don't even know that they did that.

My parents have always and will probably always be in major debt. They buy what they want when they want and don't care if they have the money for it or not.

My dad is a lot better than my mom but not by much.

I hope this doesn't sound like I don't love them because I do I just don't agree with them when it comes to finances.

My parents taught me that I should buy good quality, and that price and quality don't always go hand in hand. I also learned that one's way of handling money when times are hard tells about a person, but handling money when times are good is also telling. (ie - not blowing money on stuff just because there is extra this month).

Well it took me almost 37 years to listen but my Dad has always said just because you can afford something doesn't mean you should buy it. You should act like you cannot afford it and would have to work for it -- Do you still want it? If not then don't buy it. It is because he saved when he could have bought that he wound up with so much in the end and has peace and freedom.

My Dad is one of the most frugal people I know -- totally debt free (he owns four cars and three homes with no debt) He retired at the age of 55 and has enjoyed himself since then.

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Grace

Wife to Stoney

Mommy of Sarah (8.5), Hannah (7), and John(4.5)

My Parents really stressed Buying a house and not throwing money away on Rent. Glad I listened because in getting in a house we have built alot of equity (about 55K) in a short amount of time (4 years) and thats with the market being down

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Kimberly Proud Mommy to Bethany Rose April 2006

My dad always told me to pay yourself first! So I have always taken a certain % out, even in the early days and stuck in a savings account. When I got enough i purchased stocks or cd with it.

He taught me on my big purchases to do my homework first. I always shop around for car deals and other big purchases. If i find something cheaper at another store, i will get them to write the total purchase price down and then i go to another store and compare. I will show them the other price and see if they can do better. You would be suprised how many do!

My parents didnt teach me anything about spending less/saving more. Well I guess they did. I remember growing up and my parents spending money like it was going out of style. My mom would take me and my sister to the mall just about every weekend and we would get new clothes, shoes, etc. We would eat out all the time. My parents had their own business for 22 years and I always assumed that they did fairly well. Mom always paid all the bills on time, etc. It was not until I was a senior that I learned how in debt (CC, bank loans) my parents were because of their horrible spending habits. They are now in their mid-50's and have since sold their business which only got them about 1/2 out of debt. They both now work 50 plus hours for someone else to try and make ends meet every month. So I guess I did mainly learn to just stay within my budget.

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Nothing is as important as passion. No matter what you want to do with your life, be passionate.
Jon Bon Jovi

I didn't learn about money from my parents...unless you mean what NOT to do. Unfortunately, they weren't good /responsible with money until my mom got really sick and almost died 5 years ago. Then my Dad took over the finances and a whole new world opened up to them...one called savings. Now they can't seem to put away enough and in the past 5 years have paid off all their CC debt, bout a new home (it's almost paid for) retired and save a large amount of money every month.

SO in the past few years a lesson I have learned is Pay yourself first. I still don't always do it b/c well, some montha just don't permit it, but we do contribute to DH 401k and save when and where we can

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Does Money Matter?

Nothing specific - more learning by example. My mom was very careful with her money - very frugal meals. She took really good care of her clothes and wore them forever - only bought classic styles that she would wear for years. I know she bought quality over quantity.
My dad had tons of money and always liked to show it off, so the only money advice he ever gave me was to buy a home in a township instead of a city because the taxes are lower. He does often compliment me on being so careful w/ my money. I make less than some of my siblings, but we live well & are careful. We also don't have kids, which is a real moneysaver.

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My parents live by the "Live below your means" motto. They never impulse buy, and have no problem waiting for something they want to go on sale (delayed gratification). They are savers . . . and they're set for life.

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Attaining financial freedom is like eating an elephant . . . it takes one bite at a time.