How Do Your Parents Spend Money?

It is very important to know about your parents’ money spending habits. Because by understanding your parents’ money spending habits, you can decide that weather to follow your parents financial plans or not?

Let me explain you the life of a typical hyper consumer parents.

Through out their marriage life they ate a lot, smoked a lot, drank a lot and shopped a lot. The household of these parents was always overloaded with food. They stock piled everything they know such as snack foods, ice creams, cold cuts, prime meats and other desserts.

Even breakfast was a feast for these people. Bacon, sausage, home fires, eggs, English muffins and Danish pastries were basics in the morning. While streaks and roasts were the dinner offerings.

Shopping and consuming were their best hobbies. They used to shop for fun and not necessity. Almost every Saturday they would shop from the early morning until mid-afternoon.

First they shopped for food. Than they spent countless hours shopping it discount was stores. The couple had a strong proclivity for purchasing large quantities of rugs, malted milk balls, towels of every colour and style, casual shoes, wooden bowls and many other things.

In most cases, these items were rarely if ever used.

In fact, these people live like cool and rich but in reality they are high income but low wealth accumulator people. If you count their net worth, it will be very less or even negative. What I don’t like about these parents is that, they proudly teach these kind of bad consumer habits to their children.

So What I advise to Kids is that, if your parents are living like this than simply don’t follow their Financial advises at all. This is because you can not become wealthy by spending more. But you can be wealthy by accumulating more Assets.