This post may contain affiliate links. Please see our full disclosure policy for details. Thank you for your support!

Find this useful? Share it so others can find it!

There are a lot of first in our lives.
The one that I am always curious about is the first lesson someone has about money. I call it…


My First Money Lesson

I believe that this can be a truly defining moment for a person. It definitely was for me.

When all my friends were getting allowances (note I said getting, not earning), I gathered up the nerve to talk to my dad and ask him for an allowance.

He looked and bluntly said:

“What are you going to do to earn it?”

 Related Post:

So I thought quickly on my feet and gave him a bunch of chores around the house I could do to start earning that coveted allowance that I desperately wanted.

He liked what I told him and we had a deal. There was just one condition.

I always saved half of what I earned from my allowance to buy something bigger.

This was a huge catalyst in my life, though I didn’t know it at the time.

It carried forward into my work life, businesses and side venture I had along the way.

Every two weeks I put half of my allowance away in my “briefcase” (a.k.a empty cassette tape carrier) and counted and saved diligently for what every I wanted next.

Always Save Half of What You Make

My parents had this habit long before I was born. When my sister came along and was diagnosed with severe Autism my mom decided to stay at home with her.

Normally for people this would be a huge change, but because my parents lived off half they could make the switch without blinking an eye.

To this day, I always save a good chunk of each of our paycheques. I must admit I have fallen off the traditional “Save Half” rule but I am determined to get back to it.

Instead of saving we have been paying off our mortgage with the ferocity of a lion on it’s prey. We want it gone, and soon it will be.

In it’s own way I have changed the “Save Half” rule to apply it against our mortgage. Once we say goodbye to our mortgage, I hope to get back to saving half again.


One Other Thing… OK it’s a BIG Thing

Saving half of my money taught me to wait, to anticipate and get excited for something. It taught me to look forward and work toward a goal. I have started my kids with this at very early ages, I hope it has the same influence on them as it did on me.

What about you? What is your first lesson about money, how has it changed your life? Leave a comment below.

Do you wonder how to get your kids started with money? This is a great step to teach your kids when they are young. That way they get set up for good money habits. The first money lesson a child should learn | Allowance | Saving Money | Kids and Money |

Looking for more ideas about kids and money? You will like these:

Dad What is Money?

Dad How Do I… Do Money?

How We Are Handling Out Kids Allowances

Get Our Best Tips On Saving Money

Sent To You Once A Week.

So You Can Take Action!

Get our weekly email with our best ideas for saving money.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

Find this useful? Share it so others can find it!