Kids Who Grow Up In Financially Tough Times Pretty Much Always Share 9 Specific Traits As Adults
shymar27 | Shutterstock People carry their childhood experiences into adulthood, absorbing their parents’ attitudes and approach to life. For kids who grew up in financially tough times and homes that struggled with money, they become adults with specific traits that become deeply ingrained.
While finances are often framed as practical, people’s mindsets around money are impacted by emotions, especially if they experienced financial trauma. But by building self-awareness and unpack their relationship to money, these same people can make more informed decisions and achieve financial freedom, despite their upbringing.
When kids grow up in financially tough times, they tend to share specific traits as adults
1. They suffer from financial anxiety
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Experiencing financial instability in childhood is destabilizing, and people who grew up enduring economic hardship often feel like they’re waiting for the next bad thing to happen. They're constantly worried and anxious about things they can't control, like losing their job or an emergency that drains their savings.
According to a survey from the Global Financial Literacy Excellence Center, there are three major factors that contribute to high financial anxiety and stress: high debt, lack of assets, and money management challenges. People with financial anxiety are less likely to own a home or plan for retirement, staying stuck in a cycle they developed due to their upbringing.
2. They’re more empathic
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Because they understand the ongoing struggles of being financially insecure, these people are able to see the struggles of others through a compassionate lens. Through their financial hardships as children, they've developed a greater sense of empathy and willingness to help others.
Even if they've experienced tough times, they're more likely to extend support to other people in need. High empathic concern inspires more than understanding. It also inspires people to take action and offer help to alleviate someone else’s hardships.
3. They’re self-reliant
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Self-reliant people channel the lessons they learned as kids into everything they do. They acquired basic maintenance skills so they can fix the leaky faucet and repaint their bedroom themselves. They can look at their half-empty pantry and whip up a gourmet meal so they don’t have to shell out money for more groceries.
Being self-reliant when it comes to money empowers people who were raised during hard economic times. It provides them with a sense of agency and the feeling that they’re in control of their financial future.
4. They’re risk-averse
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When someone is risk-averse, they were likely raised in a home where money was a constant struggle. As adults, they hold tight to any sense of financial security they have. They avoid taking any big risks with their money and approach investing with caution, prioritizing stability over everything.
Behavioral scientist James R. Langabeer touched on the topic of "doom spending," which he described as the phenomenon of people spending money in the moment to soothe their worries about the future. Doom spending is rooted in their fear of impending financial concerns and their uncertainty about what their long-term financial picture will look like.
5. They’re frugal
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Raised in a home that experienced financial hardship, as adults, these people pay close attention to how they’re spending money and avoid unnecessary expenses. When they do buy things, they focus on how well-made the product is, as they only feel comfortable putting money toward items that last.
They make the most out of everything they own. They wear clothes until they’re threadbare and hold onto household appliances that were made decades earlier. From the outside, it might seem like their frugal lifestyle is devoid of joy, but they’ve learned to take pleasure in the little things that they don’t have to purchase.
6. They value community
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Because they fully understand that no one can get through hardship alone, especially financial troubles, they give freely to other people in need and ask for support when necessary. Research from the Urban Institute even found that 42% of households indicated they would expect “all the help they need” from nearby family members if they were facing financial distress, and this is the exact attitude they have.
People who have a solid support network experience a lower rate of hardship, which indicates just how important people’s relationships are for their ability to maintain economic well-being. Additionally, having strong coping skills is less about demonstrating independence and more about providing emotional and economic support to the community.
7. They’re resilient
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They’ve spent a lifetime building up their inner strength, allowing them to believe they can weather any storm. They give themselves grace when they’re facing financial struggles and know they can bounce back because they’ve done so before. They're incredibly resilient and tough.
Resilience isn’t a one-time-only experience, but rather, a dynamic process that changes with time. Over time, as they become adults, these people make more informed choices for stability purposes, and they're able to withstand any economic crises with grace.
8. They’re minimalist
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As they likely didn't grow up with much, and were used to cherishing every little thing they had, once they become adults, they tend to stick to minimalist ideas. They believe in bare surfaces and owning as little as possible. They regularly clean out their closets and purge their belongings because they don’t want to accumulate excess.
They see their possessions as a means to an end, physical items that allow them to survive, but they don’t assign them any more meaning than that. They fully embrace the idea that less is more, valuing simplicity and drawing their sense of contentment from other areas of their lives.
Their happiness isn’t defined by what they own. For people raised in financially tough times, being minimalist is an anti-materialistic approach that saves money and keeps their homes from becoming cluttered with things they don’t need.
9. They’re grateful for what they have
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Feeling no need to measure what they own against what anyone else does, adults who grew up in homes that struggled financially are incredibly grateful for the things they do have. They have a roof over their heads and warm clothes and nourishing food, and that’s enough. They channel their gratitude every day, taking stock of what they’re thankful for.
The messaging people receive about money directly affects their spending habits, and it usually relates back to childhood. When people feel undeserving, they may buy things they don't need that make their issues difficult to heal. But by expressing their gratitude, it makes people more fulfilled, even if they don't have much.
Alexandra Blogier, MFA, is a writer based in Boston, Massachusetts who covers psychology, social issues, relationships, self-help topics, and human interest stories.
