My parents were terrible with money. They had a lot of credit card debt. I was worried for a large part of my childhood as I didn't understand really - they always argued at the end of the month before pay day.
I clearly remember thinking when I was about 10 that you got paid once a year (I'd heard something about annual salaries) and They were arguing about running out of money and I thought... they'd spent the year's money. It must have been October time as I know I decided not to ask for anything for christmas because I knew they didn't have any more money.
Dad had a good job, and mum went back to work full time when I was 11, she had been working nights in a supermarket for a while, then nights in a bank. But they were terrible at managing their money. Both grew up in working class households, and I think they must have been hit by a whammy of high interest rates, desire to do better and not sure how to budget. They definitely approached money and credit cards as something to spend ASAP and not budget.
I grew up with a gut wrenching fear of having no money. And of debt. I didn't get a credit card until I was 38. I had the odd year at uni when I scrabbled for money. I worked part time, they gave me £120 a month "allowance" but my rent was £180 and I had bus fare, books, bills, food... i couldn't move home, couldn't ask for more financial help and I just racked up student loan debt to pay for uni fees (they refused to help with that) and an overdraft so I could manage.
Anyway, their lack of financial knowledge terrified me. I learnt from it, took me till mid 20s to be on an even keel. But I won't forget the worry.
They still aren't great with money. Both retired on ridiculously good pensions. My oven broke two years ago, DH and I could cover cost of a new one but my dad came up and gave me £300 and said "we can't even spend our money at the moment, we have more than we know what to do with".
Ooft.