For some of us our parents can be a strong influence in our lives. A recent convo allowed me to realize just how misguided I was financially and the conflict within it created.
Question their financial advice every step of the way. Do your best to not let a desire to please them cause you to make poor decisions.
Attending the wrong college, taking on a major they prefer, spending habits, credit cards it goes on and on.
Early into my professional career my father suggested I use a bonus to buy a boat. I wanted one, the idea of having one to take him out when he visited, connect when I needed repair advice was tempting. Instead that money was used as a down payment for a rental property.
Last night we were talking and I could see more clearly the conflicts their advice would create within when I was growing up.
I told him my plans to sell a car I barely use. It’s worth $17k and it’s a depreciating asset. To him it’s a future classic that’s sure to go up in value. I felt fortunate to see this now, but as a young adult this would have created a large internal conflict.
The day I realized my parents gave poor financial advice stung a little, it sucked seeing my siblings and I making bad decisions from their guidance. It was also liberating as I knew I had to be aware, educate myself and seek advice elsewhere. Their intentions were good, but not helpful.
I hope this can be helpful, the guilt I’d feel when not following their advice was very hard for me at first. Now I see their hearts in the right place, but I must educate myself and be true to my plan.
Submitted May 05, 2018 at 01:56PM by MiIIhouse https://ift.tt/2riP5oO
