EFML: Money Matters
My parents are diametric opposites in several aspects. And I, having inherited traits from both of them, by nature and nurture, at times find two contradicting points of view in my head both of which I can understand and relate to. I switch between the two frequently, and reassure myself that it gives me a balanced perspective on life. (There are times when this drives me crazy, but I'll leave that story for another day.) In this article, I'll share with you their individual perspectives on finances, and how that has shaped my own financial thinking. My father is a man of numbers. When I was in first grade, he called me over to the computer that he'd newly bought, and opened up Excel. He took a piece of paper, and wrote down a formula while I stared at it cluelessly. If there is one thing you should remember for your entire life, it is this. This is the power of compounding. He proceeded to enter the formula in Excel and demonstrated to me how an initial paltry sum could g...