The Kunziers has proven advice, guidance and financial wisdom to be shared with their children and the rest of the world. But it is not all intuitive—they experienced it firsthand.
Before life got better as it is now, John Kunzier, the father of the family, was in dire straits when he struggled to keep his construction business profitable. With a few wrong judgments and a horrible financial decision, he had to declare bankruptcy.
John and wife wanted to be honest with the kids about their financial history.
People say money can’t buy happiness, but living in debt is surely suffocating. When they had their financial crisis, the Kunziers learned one important thing—they had to cut out everything, except the necessities.
The best thing about being honest on their financial journey, the Kunzier kids learned a lot of valuable lessons from their parents’ experiences. They now have a better sense of how to plan their expenses and which monetary decision is the best one.
The Kunziers altogether.
That left them with a few rules:
1. The family never ate out.
2. They did not buy any new toys.
3. The family took no vacations.
4. They didn’t give each other any presents – be it birthdays or Christmas – there’s no sight of any gift.
5. Never say they can’t do it because they can’t afford it — but instead, they’re not doing it just because that’s not something they’re going to do.
6. Always stick to the philosophy of “things don’t make you happy”.
7. Always be honest and open with kids about the real financial situations.
The kids listened and learned from the past mistakes.
The Kunzier kids mentioned a few lessons that they got—and it really is the best lesson there is:
1. Not having a whole lot of money isn’t the worst thing.
2. We didn’t have all the money in the world, but we had each other.
3. They also took on different kind of rich — which is rich in family rather than rich in value.
Claire Kunzier, who is a freshman in college, says that it is really important to know what works and what won’t to help her make sound financial decisions.
Now what was the horrible financial decision that dwindled them into bankruptcy?! “We actually took out a loan that would never end,” says John to Upworthy.
Luckily for them, the market turned around and things got better, the Kunziers refinanced their house and managed to escape the nightmare.
We are glad that the Kunziers made it through together. Please share their story if you think it would be useful to your family and friends. Stay debt-free!