coffeequeen0523

r/wallstreetbets sub pops up in my feed from time to time. I’ve not joined the sub. Yes, I think that community could greatly benefit with your app and knowledge!

Is there a waiting list to sign up for the app?

I’m the oldest of 7 kids. Our parents were entrepreneurs. Some business success. Many business failures. The yo-yo effect of our family finances stressed me out big time. I didn’t spend birthday and Christmas money for fear our family would need it to keep the lights on, gas in the car, groceries, etc. I’m the oldest of 7 kids. I’m a saver. I’m blessed with a very good life and on track with retirement, etc. No debt. Home paid for. I’ve taught my 6 sons money ebbs and flows. Don’t stress about it. Each got an allowance, a bank account and a debit card. All were taught they could spend a percentage of their earnings if they chose and a percentage went into their savings account. Initially, they’d each spend their max but it quickly faded. The newness of their purchases and the dopamine highs of their purchases quickly faded. I feel sure the embarrassment of each running their debit cards a few times and being declined also impacted their spending habits.

4 of my siblings stay in constant debt and spend their paychecks long before they get them. They live paycheck to paycheck and their adult children do the same. Constant evictions, moves, job losses, etc. I can’t tell you how many times I’ve helped them begin anew with them telling me “this time it will be different. I’l staying put and will get my finances in order.” I help them with budgeting and prepare their tax returns for free. Sadly, it hasn’t happened yet.

My other 2 siblings are hoarders. They live in fear to throw anything away for fear they’ll need it and not have money to replace it. Both of these siblings are frugal and seem to manage their finances I think. They are ultra-private. The pandemic sent both into a complete tail-spin with their spouses and adult kids. It was them against the world. Both siblings believe covid is still a real threat so no one can visit their home and they still wear their masks away from home. Our family is ok with that and try to support them to maintain the relationships. I find our family dynamics related to finances and money fascinating. We each chose different paths regarding finances, debt, money as assets as we grew up. Do you find this occurs in family dichotomies?

That’s a great point regarding our parents financial cycles. I look forward to seeing the app. I’m also going to let my siblings know. Thank you!