Comment Re:Your parents did right by you. (Score 1) 304
My wife grew up poor. If you had $1, you spent it. Her spending expands to absorb all available funds.
I actually had the opposite where I grew up poor but my family at the time was very thrifty and tried to save and not spend all the time. We did get government assistance but learning about delayed gratification and how to enjoy the simple thing was important and has helped out immensely. Later in my childhood my parents got a divorce and my mother remarried to a better off individual and they were well into the upper quintile but spent every cent they made and then some so now they don't have a pot to piss in. My father continued to be thrifty and started doing better in his career though never being rich or an upper income earner is fairly well off. My wife on the other hand grew up in a family that was in the upper quintile and never had to want and would regularly get what ever she wanted. She spends like crazy and has the mentality of "look how much I saved" when she went and spend a bunch of money on things she doesn't need.
I think it is the parent's mentality towards money that has a greater effect on how a child views money. While my situation was probably more unique in that I got to see first hand both ends it is illustrative of the underlying problem.