Money is such an interesting thing. At times it can be very abstract and arbitrary, and at other times it contains great significance. It clearly has a lot of power in our lives; it affects our relationships, where we live, how we live and how we connect with others.
The other day I tried to think about my earliest money memory….or when money started making sense to me as a concept.
I would say I didn’t really think about money, or its effect until middle school. Middle school was an awkward time for me; I was painfully skinny and people accused me of being anorexic, and I also had expensive braces to fix my teeth. At that point I realized how much money my parents were spending on me and my crooked smile.
Middle school was also a time of constant comparison. My peers were influenced by brands, their parents had houses and they had the newest technology (omg, remember nano pets?!?!! I never had one!)
We lived in a modest duplex and always shopped at Target. I never thought we were rich or poor, but you don’t really understand your situation until you compare it to others.  You can have a sense of life that is completely altered when you realize other people’s reality. I had friends that made me feel incredibly poor and friends that made me realize how lucky I was.
During those awkward middle school years, and transitioning into high school, I was starting to think about money and how I could make it. I realized that my parents spent a lot of money on me, and I was completely reliant on them. I started scheming on how I could make my own money.
I frequented the Warehouse (dating myself – remember the brick and mortar music shop?) and I saw that they bought used CD’s. My parents had a ton of CD’s and I knew they didn’t listen to all of them. So I secretly took a stack of their CD’s and sold them to the Warehouse. I made $20 and felt amazing. Not only amazing, but rich! It’s incredible what $20 can do to a kid.
Of course, I didn’t tell my parents. They found out weeks later when they asked me where some of their CD’s were. I’m a terrible liar, so I confessed under pressure. They were so disappointed in me, and I could tell that my short-sighted desire to make money blew up in my face. It was that money memory that really stuck with me.
What is your earliest money memory? Did that memory shift your thinking about money?
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40 comments
My earliest money memory was when I was 10 and invited to a birthday party. It is so strange that I remember the name of the girl who invited me, which I will leave anonymous. When my mom dropped me off at my friends house I just remembered how large her front door was. (She lived in a mansion.) Just looking at that door somehow I knew that my friend was rich, and I knew my mom could never afford to live in a home like that. Until this day I remember that door….might be a little weird…it’s ok….judge me.
I used to LOVE going to the bank with my little pink bank book and depositing whatever money I had… the $10 from grandma for my birthday, or a month’s worth of allowance. I don’t remember how young I was, but I was YOUNG. Maybe 6 or 7 I’d guess? I couldn’t see over the counter, that’s for sure.
Thankfully the urge to save has stuck with me over the years. Too bad the amount of disposable income I have has changed so much and not in my favour 🙂
When I was in 4th or 5th grade, we had a class party at the end of the year at the bowling alley. One of my friends didn’t have enough money for a snack that afternoon, so I gave her some of my extra. That night when I gave my dad back the change I had left over, he asked why I didn’t have more. I told him I had helped my friend. His reaction was very mixed. While he was very proud that I had helped someone who seemingly had less than me, I had given away HIS money. I didn’t know it at the time, but we were totally broke and my parents were doing everything they could to avoid bankruptcy.
I am “studying” Dave Ramsey right now, and while I’m not totally convinced of everything he says, I do believe that more people need to have “giving” budgeted in to every month. I am working hard to pay off my debts, but even I can manage to find some money each month to give to a great local cause.
Just my 2 cents. Thanks for making me think back about something I haven’t thought of in a while.
It was when I was either 5 or 6 and found $20 on the sidewalk next to my house. I ran into the house and started yelling, mommy, look what I found. The thing was I had always been a big saver, so with the $20 I ended up going to the store and getting some accessories for my barbies because it was an unexpected treat for me!
I wish $20 still had that thrill. I mean $20 is $20, but as a kid, it feels like $100. I think I spent $20 on shampoo and conditioner at Bath and Bodyworks once, lol.
Haha so true. $10 used to be a good day out as a kid – bus into town, play some arcade games, etc and $20 was a luxury – add in a movie and a meal.
I’m curious what your punishment was for stealing from your parents to make extra money?
I actually don’t remember. I do remember them yelling at me and being pretty pissed. I was always pretty good and didn’t get into much trouble, so they instilled some fear in me this time around. I think they were probably wondering why I felt like I needed money at the time.
Oh my gosh, I used to love that store – and there was another music store that I can’t remember where you would go to buy concert tickets. Oh memories! My money memory would also be around middle school age – there were these ridiculous shorts with floral trim that were incredibly popular at Wet Seal that cost $30 (which is probably comparable to $100 pair jeans today), and it was just too extravagant so I had to baby-sit for 2 months just to get one lousy pair of shorts (which, in picture hindsight, were just hideous)! Teenage years are such an awkward age, so glad I’ve passed that long ago!
OMG wet seal. That was the jam. It’s amazing to think what we spent our money on as a kid, and how our choices change. Thank goodness! Hopefully for the better.
When I was around 7, I had two Snoopy banks, a clear one that I used for pennies and a yellow one that I used for 50 cent coins. This was back in the 80’s and I thought that 50 cent coins were awesome. So, when my family members would get their hands on one they would give it to me. I actually still have the clear snoopy bank all these years late. I think I “killed” the one with 50 cent coins in my late teens. 🙂
I was a big saver then and my family’s aim is to save even more now! Thanks for making me think about this.
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Snoopy banks, how cute! I love the 50 cent coin too. Glad you learned to save and are inspired to save even more now!
When I was about 7 years old, I began to make those loomed hot pads. (The kit was a gift.) I decided to go door-to-door to try to sell them. I sold them for 10 cents each or 2 for 25 cents. Ha-ha! Next it was on to babysitting jobs. (In those days I made about 50 cents/hour. Yes, I am dating myself!)
Then, when I was 12, I got a job at a Masonic Temple in the kitchen. (The head cook lived across the street from our family.) I was paid minimum wage and even had to get my Social Security number. I really don’t know how they got around child labor laws! I worked several times each month at the banquets held there in the evenings or on weekends. It was hard work; there were often banquets for 500-1000 people and lots of dishes to haul off tables and run through the dishwasher. I worked this until I was 16, and then it was on to other teen jobs. I was a saver, though. By the time I was 17, I had saved $1,700, never earning more than $1.85/hour. I was hustling at a young age, I guess!
Wow you are such a hard worker — and an entrepreneur! I’m really impressed with how much you were able to save by 17. It’s good to get so much experience when you are young and learn the value of hard work and saving.
I don’t know what my earliest money memory is, but i have a few that stick in my head. I remember always saving up coins and rolling them up and taking them to the bank when I was younger. My parents made me put half in a savings account and keep the other half. I also remember that all my friends were getting Nintendo 64s and I really wanted one. My parents had to sit me down and say they would try, but they really couldn’t afford one. I never got one but that was an important lesson to me in realizing that money was not unlimited. Fortunately video games were more of a secondary concern to sports and playing outside at the time, so I got over it within a while. I could always play while I was at a friend’s house.
Good work on your parents part for making you save 🙂 Also for teaching you that you can’t have everything you want and that things cost money and there is not an unlimited supply. I miss playing outdoors like when I was a kid — it was free and there was always so much to do!
My earliest money memory was when I was 5 or 6 and my mom helped my younger sister and I roll all our coins from our piggy banks and we took them to the bank to open a bank account. I felt so grown up! I still take my rolled up coins to deposit in my bank account today. 🙂
That’s such a great memory! I love counting change and taking it to the bank, too 🙂
I started working when I was 14 years old for cash off the books. Once I started working, my parents made me pay for everything (other than room and board) and I really started learning about money, and having cash made me even more cognizant of the money I spent. To this day, I am thankful for that job and the lessons I learned from it.
That’s awesome you learned so much at a young age! I am sure it has taught you so much.
I remember going to the bank with my Mom. Do you remember when you had bank books? Well I deposited some money I made from… I gave no idea, but I was about 5.
I always had money as a child. I had a small allowance, but I was a money hoarder. Then when I started babysitting at 12 for $5/hr, I thought I was filthy rich. My brother (four years older than me) used to ask for loans 🙂 what happened to me!?
Every Saturday my mom would give me money for lunch between Ukrainian school and girl scouts. I remember always making sure I had some leftover so I could pick up gum or candy too.
Hm, I’m trying to think back. When we first moved when I was about eight, I remember looking at potential houses and hearing that we couldn’t afford some. I didn’t completely understand it at the time. However, when my dad lost his job about a year later, it had a huge impact on me. My parents were saying “no” more often, I heard whispers about losing the house, and I noticed that my grandma was helping us out a lot more. I learned that it’s important to have an emergency fund and other plans in case the worst happens.
My earliest money memory was going to a store with my uncle at around 4 or 5 and picking out my first ever piggy bank. I actually picked a pig with a bow in her hair…my uncle was surprised since I was a total tomboy. I think I still have that pig around here somewhere.
My next memory was when I was 7-ish and at the playground. I made a budget for moving out for college in crayon on the back of some random piece of paper. I included stuff like tuna fish and mac and cheese. My college years ended up being very similar. 😀
How cute, a little piggy with a bow! Go find that pig, who knows what is in there! Holy cow, you made a budget when you were 7? I didn’t even know what the word meant! I’m glad you ended up in the pf sphere, you belong here! 🙂
I’d say my earliest money memory was when I found a 100 rouble note on pavement (our currency was Russian roubles when I was little, it is Euros now). Back in the day, this was quite a bit of money! I don’t think I have ever spent this money. I put it in my secret drawer and every time I looked at the note I felt so powerful. Silly, right? 😉 I was about 5 years old. It’s weird how my refusal to spend this money and my preference to save it never transformed into anything bigger until last year!
Money is powerful, so no it’s not silly! See, you were always a saver, it was just dormant for a while 😉
My parents use to give me cash for lunch in school. Some days instead of getting lunch I would eat one of my friends sandwiches then we would take my money and go to the vending machines for twizzlers!
Ahh twizzlers! Remember those funky twizzler commercials? I remember I used to get a small amount of cash for lunch and would get nachos and chocolate milk. I’m so glad my eating habits changed, lol.
I’d do anything for some nachos and chocolate milk right now!
I remember living in Japan and wanting those wooden shoes. I was four my mom said “no” But, I’m an only child that no became a yes!
You lived in Japan? Wow, I’d love to hear about your experience. I’m an only child, too and had a lot of yes’ but some ‘no’s as well.
Great question! I don’t have any specific first memory. I remember a few random things, like walking around the markets trailing my mother, trying to will her telepathically to buy me Spice Girls style platform shoes (this was the 90s) but never daring to ask because I knew it would be a no. I remember once blurting out that she NEVER bought any groceries that weren’t on sale. I remember her surprise when she learned going to the movies was the same price as renting a new release DVD (this was of course when I was a child and kid tickets cost $8).
Ahh The Warehouse!! I remember that place. My friends and I would spend hours listening to the new CDs. Then we would just buy the singles haha!! It’s funny, because even now, when I go on iTunes to buy an album, I would say I’m buying that artist’s CD even though I’m not literally buying the CD. I digress…
My first memory of money was when I was in elementary school and my parents would put things on layaway for our birthday and Christmas gifts. I remember going to the stores to make payments on the items and I would ask everytime, “are we gonna pick it (toy/clothes) up today?” I would get so excited when the cashier would hand over our merchandise!!
I really loved the idea behind this. I honestly think it was realizing we didn’t have as much as I wanted when I was a kid. I can still remember being 7, and trying to buy Jose Canseco’s rookie card, but being a dime short. It’s weird how the mind works.
A dime short?! Ahh, so painful. It’s interesting to think about how money played a part in our early years and still affects us today.
I guess my earliest money memory was receiving savings bonds for my birthday when I was a little kid. I remember my mom telling me they were for college, but I didn’t really appreciate those bonds until I was a bit older.
Nice, that’s a great gift. I’m sure you didn’t see any value at the time, but glad you realized how awesome it is when you got older .
That’s funny about the CD’s! lol! Bad girl! I’m not sure I have a specific memory, but I felt aware at a young age what we had it pretty good. Now we weren’t rich, but I never wanted for anything…Christmas and birthdays were good…when my mom took us school shopping there didn’t seem to be a budget limit. I wasn’t aware of any kind of money struggle until my parents divorced. Then things felt limited.
Yeah, it was pretty bad. I didn’t do too many bad things as a kid but this was definitely one of them. Interesting that you didn’t really think of money and struggle until your parents divorced. I can see how that happened though.