David Fulghum: An Interview With My Father

As a million dollars passes through your hands, Foster teaches us on how to hold onto the money we’ve earned. Many consider money to be a good thing, but when people start believing that quantity overrides quality, money can lead you to the wrong reasons. He’s gotten to know some of the most successful people in the world during his lifetime, and every single one of them started out learning what do with the money they’ve earned with a part-time job. “They also learned how tough it is to earn each and every dollar, so they were careful about how they spent their money. These successful people developed good spending habits when they were young that stayed with them throughout their careers,” (pg 22). In my future, I plan to get a job and save at least half of my

I’m sick of talking about money. I’m angry. I’m frustrated. He doesn't understand. He needs to understand. Money isn’t everything. We should be grateful of what we have now. He has everything I have ever wanted; love, a house, and freedom. Walter has so much to be thankful for like his job, his wife, and his son. But he only cares about money. I told him how when I was his age, there was no talk about money, but about freedom. Times have changed.

One big lesson that I feel more people in my generation need to learn is how crucial saving is. One might think "oh I can save later," but you never know when something can happen. I found this out myself when my home was flooded. We lost most of our possessions and can't afford to replace them because we never put the money aside. Had we all put in a bit of money here and there, we would not need to struggle to repair our home. When it comes to saving money sooner is always better than

Looking back on my childhood, I realized a myriad of moments I wouldn't have given a second glance at that age. My thoughts usually tend to gravitate towards my grandparents, both of which were extremely smart, and whether it came to money, clothes, toys, or any other household object, they always put it to multiple uses. On one hand, I believed they were hoarders, but now that I'm able to look back on it, I realize that they caught the very end of the Great Depression, and that they were doing everything in their power to not relive those times. On the other hand, not everyone in my family has made smart decisions with money, so that large amount of advice accumulated over time..

People should first recognize that the typical characteristic of maturity is good financial management. Admittedly, financial pressure encountered by the people who first

You would think that somewhere between kindergarten and undergrad, there would be at least some semi-regular course curriculum in personal finance. Alas, there isn’t. Your children won 't learn about money in elementary school, middle school, high school, or college.

When I asked Ms. McGlashan what were the three biggest personal finance mistakes that she sees young people struggle with, she said, “Savings, young people don’t invest, or invest in the wrong things.” Ms. McGlashan

One of the greatest memories with my Dad was when he took me to Sioux Falls on my birthday. That was when the best memory of all time.

In an article written by Jonathan Burton titled “What Teens Need to Know About Money; How to Have That ‘Big Talk’ About the Financial Facts of Life” the author is a supporter of getting credit cards in the hands of the young generation. About 35 percent of bankruptcies filed are from people younger than 35 years old (56). The author has the idea that by giving the younger generation credit cards now can help save them from bankruptcy by teaching them how to manage their money. Many people going into debt due to the fact they simply do not understand how a credit card works or how to manage their spending. Teaching the younger generation how to manage money with a credit card can save them from being in poor financial circumstances in the

“My parents introduced me to financial stewardship at a very early age. At the age of 12, I was working in youth programs, changing lives in Philadelphia’s inner city.”

How to properly manage money is something that should be taught to young people because it is a very important asset in everyday life. “Total consumer debt in the United States stands at nearly $2.6 trillion dollars. That works out to be nearly $8,500 in debt for every man” (Anderson). Many times teenagers are known for “throwing away” their money by spending it on unnecessary things. This is something that could easily be avoided if students were taught the proper techniques on saving and spending money. There are many different skills that students could learn if personal finance was taught in the school system. Managing money is one of those very important skills and would help to lessen the number of young people spending irresponsibly instead of

On January 1st of 2017 I interviewed my mother of her financial decisions throughout her life. She does not use credit cards anymore after filing for bankruptcy due to bit parents being laid off in 2010 during the great recession. She does not use a written budget and does not know her current net worth. She does not know her asset allocation of her investments but is set to retire in 2030. She does not own a home but did before filing for bankruptcy she currently is renting a house. The two best financial decisions she made were putting 20% of income into an IRA account and getting rid all off credit cards after filing for bankruptcy and never opening anymore credit card accounts. The two worst financial decisions she made were spending her

From biologically to psychologically, there are many different factors that contribute to certain children having more financial responsibility than others. In his article “Listening to Parents Key to Financial Responsibility” Shankar shares the major connection he’s found between children listening to their parents and having a larger amount of restraint. This article truly encourages you to seek out time to have those hard and sometimes difficult conversations, with your kids, about your expectations regarding finances, so that in the future your children have the wisdom to be accountable for the money they have. When you openly talk about finances, you make the possibilities for everyone to have more self control regarding wealth more attainable.

Many new and radical ideas have been introduced to parenting when discussing the topic finances in “ Why You Should Tell Your Children How Much You Make” by Ron Lieber of The New York Times. The article begins with the story of a man who disclosed to his children how much money he made per month and how the family spent it. The main idea of the article was that parents should perform this exercise with their children at an early age to teach them to be money-wise. One reason to do this, given by Scott Parker, who has six children is if you “handle it right, [this experience] will be one of the most valuable lessons of their childhood.” I believe that this method is an interesting one and does pose several advantages such as your children being

Most adults in my family agreed that it was necessary to remind the younger generations how privileged their life was and to always appreciate what they had. So naturally, money was rarely a concern for me and had absolutely no value on my self worth. Though little did I know, or realize how hard my parents worked to make life that comfortable for my siblings and I. This being said, we found it rather difficult to understand why our Father insisted on changing jobs constantly, which seemed to be more trouble than it was worth, just to increase his income. Until recently, we didn’t understand. Discovering our Father’s pursuit for wealth has put more than a mental and emotional strain on his and my Mother’s relationship, it has greatly affected the relationship between him and his children, as well as grandchildren.