28 Jun 2021

Growing up, my parents were always shoving down my throat - save, save, save. No matter what it was or where I was going, it was a waste of money. They’ve never been on a proper holiday, they only use vouchers when ordering fast food and never buy anything full price but hey, they have made financial decisions that have set them up for life.

 

But that doesn’t mean they should influence yours. They grew up in a time where a freddo frog was three times the size as to what it is today. Big Mac’s were actually BIG. Cars were affordable. Houses were A LOT cheaper. Pfft, we hate inflation.

As the younger generation, we’re told we won’t be able to afford things in life because of our loose spending habits but the truth is, we were set up to fail. It’s not because we throw money at everything, it’s because the things we love to do and want are just more expensive than ever before. 

Here’s our goss at why you shouldn’t listen to your parents when earning some dosh.

You’ll learn from your own mistakes

Once you start earning a decent income, it’s your money to spend, save or whatever you want to do with it. You’ll soon realise what’s worth your money and what’s not but you will never know if you are just following your parents advice. Until you’re silly with your money, you won’t know how to be good with your money. Don’t go crazy but also, live a little!

You’ll be stingy for your whole life

I don’t know about you but if I followed my ‘rents advice, I wouldn’t even know what a barista-made coffee was. You’ll be reluctant to be a good bloke by not shouting your mates, you’ll argue about a 30 cent difference with the cashier, you’ll be saving forever and leave this world with no memories other than work. Okay, maybe that’s just an extreme I live with but don’t be that person!

They’ll only tell you what they did

Times have changed and if your parents haven’t bought a house within the last ten years, then they’ll tell you just how easy it is to save up for a deposit. Newsflash: it isn’t. Money just isn’t the same as it was when they were growing up. Do your research. Talk to a financial advisor. Ask your friends how they divvy up their money. Learn from what others are doing now!

You’re still telling your parents things cost less than they are

If you’re like me and told your parents you spent $150 on a bike when you actually bought it for $500 because you’re frightened about what they would say, it’s a sign that you shouldn’t be letting them have an input in your finances! 

You’ll learn how to live frugally on your own

Growing up, your parents constantly told you “there’s food in the fridge at home” or “Polly Pocket is a waste of money” (still sad until this day). Now that you’ve got adult money, you’re free to do whatever you want - if you want to treat yourself to a new video game or spa day just to live off tuna and crackers for the rest of the week, you’re the only person in control, so go ahead!

Don’t turn away your ‘rents advice completely; remember that they (think they) have your best interests at heart and are just looking out for you. But definitely do take it with a grain of salt!