Though our country struggles with a lack of financial literacy and the ramifications of not learning about money as children, most of us can recall a time when our parents taught us an important financial lesson.

Cash Is King “My parents drilled into me that ‘cash is king,'” said Caroline Tanis, CDFA, a financial advisor, strategist, educator and speaker at Tanis Financial Group.

Not All Debt Is Bad Debt “[My parents] taught me the difference between good debt (e.g. mortgage debt) and bad debt (e.g. auto loan or credit card debt),” said Marina Vaamonde, the owner and founder of HouseCashin.

Save Half, Spend Half “Right after I passed the exams to become a certified financial planner and got a bonus for passing from my employer, my Mom told me to make sure to save some of that bonus,” said Patti Black, a certified financial planner.

Don’t Impulse Buy “My father used to take his time before making a purchase,” said Tracy Acker, the CEO of GetPaydayLoan.

Invest Early and Invest Often “One of the best financial lessons my parents taught me is to invest early and often,” said Harry Turner, founder of The Sovereign Investor.

“Coming from a family who was financially comfortable, I am grateful that I was still taught the value of frugality,” said Sara Lohse of BFG Financial Advisors.

“My mother always tells me how she tapped her retirement funds to use as a down payment on her first house and how it was a huge mistake,” said Amanda Wallace, MBA, head of insurance operations with MassMutual.