Are we rich?
Updated: Feb 11, 2022
I grew up being very budget-conscious,
I always saved part of my weekly allowance provided by my father.
I focused on how much I spent on lunches with friends
which was tough as a kid being raised by a single mom who didn’t work.
When I graduated from U.C. Berkeley, tuition averaged $5,000/year
(in-state). I had no debt, thanks to my dad.
When I moved back to L.A. for work, I rented an apartment with roommates and was completely off my dad’s balance sheet.
Because I grew up not having money, I felt insecure about my self-worth.
Now as a 49-year old mom, with 3 kids. I still continue to be budget-conscience.
The reason I started my business was to help women plan their financial lives and invest. I work hard to not be poor. I would not have been quite as motivated to start a business if it weren’t for that childhood insecurity.
Now I’m in a bit of crisis.
My daughter was just admitted to a summer program at the #nytimes.
She is beyond excited.
But the 2-week program costs $6,400. which is more than my annual college tuition.
We can afford it, but it’s a lot of money.
I’m not happy about:
much this program costs, nor
how my daughter doesn’t even stop to think about the cost.
How can I teach her the value of how much this program costs?
Should I make her work and pay for part of the program costs? She already works for free as a volunteer tutoring kids.
Then I realized I need to shift my mindset - This is an investment in her future.
I can’t focus on the cost, I need to focus on the benefit.
She has greater self-worth than I did when I was her age.
and the payoff will be that she will gain the confidence to express her view and report how technology is impacting the way people work, socialize and engage in a community.
Most of all, I need to appreciate that my husband and I have been very lucky and have worked hard our entire careers and now we can afford to send her to camp. #investinyourkids #womenempowerment #womenintech #girlboss
We all need to invest in our girls but also help them understand the cost-benefit of school, investing, and never take on debt.
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