What Is Your First Money Memory?

What is Your First Money Memory?

Take a minute and try to remember. What is your first memory about money?

Could it be a family conversation at the dinner table? Perhaps a toy that you for saved over time, or a quarter that disappeared through the hole in your pocket?

Experiences in your youth around money can have meaningful impact in your decision making throughout life.

If money wasn’t something we talked about often, then how do we instinctively know about beneficial habits? And if, perhaps, there were disagreements that centered around money, is it a topic we may find easier to avoid?

Whether positive or negative, everyone’s story is unique. Here’s mine:

When I was about five, my mom’s birthday was approaching and it was expected that I would spend my own allowance to purchase her a gift. My dad took me to a store, and I zeroed in on a pair of silver earrings. They cost $4.11, and that meant all my savings. I had mixed feelings: fear of using all my money on someone other than me and excitement in buying my mom a present that I picked out and paid for.  

I slowly counted out the change for the clerk, and she handed me a jewelry box. I was so proud of myself for making the sacrifice, and I could not wait to present them to her.

Recently, my mom passed away, and I found one of the earrings in her jewelry box. It’s precious to me to have this earring, somewhat broken, that she kept all these years. The memory brings me right back to the counter, experiencing my conflicting emotions of doing what I’m supposed to do, even when there is a part of me that doesn’t want to. This understanding of the complex feelings surrounding money fundamentally shaped how I offer support to my clients today.

I invite you to think about your own first memory, or even how money talks were navigated in your family. I welcome your stories and the discussion, as there may be new and enlightening information worth it to explore.