“Rich or poor, it’s nice to have money”
I’ve lived in wealth and in poverty as a child. 55 years ago my father’s business partners put the company into bankruptcy while my parents were in EY for 2 months. We went from a 6 figure income (at a time when a good middle class salary was $7,000 per year) to living in the $4,200 my mother made as a public school teacher.
The stress caused by the lack of money, dunning calls from business creditors, shunning by former business associates/friends, not going to summer camp, etc. caused lots of unhappiness.
My father got rid of his partners and started fresh. Mom and my older siblings worked in the store after school and at night. It took 5 years but B”H he rebuilt his business and income, had 7 stores and 200 employees. The end of collection calls and resuming activities, as well as mother being home after school, nights and summer certainly brought happiness back to my life.
As an adult, I’ve lived through up and down business cycles. My childhood taught me not to live beyond my means. Yes, I earn a very handsome living, but I value money and don’t waste it. We B”H live debt free. No mortgage, no student loans, no car loans. It gives Mrs. CTL and I great pleasure to support Jewish and community religious, cultural and educational institutions.