“Did Your Childhood Shape Your Financial Habits? Discover These 7 Surprising Signs of Growing Up in a Financially Unstable Home!”
Growing up in a financially unstable home often instills a fear of debt.
Owing money to others can be seen as a precarious position when you’ve grown up in an environment where every penny counts.
It’s not uncommon for individuals from these backgrounds to be extremely wary of loans, credit cards, or any kind of borrowing.
Interestingly, this fear can persist even when financial circumstances improve.
A study published in the Journal of Consumer Affairs found that low-income families often exhibit a reluctance to incur debt, which aligns with the statement that individuals from lower-income households are more likely to avoid debt as adults compared to those from higher-income backgrounds.
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