Why I Stopped Blaming My Mom for Her Terrible Money Advice

For years I held a grudge because my mom told me to always pay minimums on credit cards and never invest, since she got burned in the 80s. But after I lost $300 on a quick flip scheme last spring, I realized she was just trying to protect me from her own bad experiences. Has anyone else found that their parents' worst advice came from a place of fear rather than being clueless?

2 comments

2 Comments

rose_hart1mo ago

Blame her anyway. Just because she meant well doesn't mean the advice wasn't garbage. Fear based advice is still bad advice and it cost you years of potential growth.

simon7171mo ago

Read somewhere that our parents' money brains are basically formed by whatever economic disaster happened when they were in their 20s. Makes sense since my dad still refuses to buy anything on credit because he lived through some rough recession years. Definitely doesn't excuse giving bad advice though, just explains where it comes from.