First Jobs: Lessons in Money Management from the Experts

The first job is a rite of passage for many, a stepping stone into the world of work and financial responsibility. For some, it’s a summer gig bagging groceries or lifeguarding at the local pool. For others, it’s a more serious endeavor, a glimpse into the future career path. But regardless of the nature of the job, the lessons learned during these formative years can shape one’s financial philosophy for a lifetime. Let’s delve into the first jobs of three money experts and the enduring lessons they imparted.



Warren Buffett, the legendary investor and philanthropist, started his career as a newspaper delivery boy at the age of 13. This early job not only taught him the value of hard work but also instilled in him an entrepreneurial spirit that would define his future success. At 15, Buffett invested $1,200 of his earnings in a 40-acre farm, a decision that would set the stage for his lifelong investment philosophy. Scott Lieberman, founder of Touchdown Money, noted that Buffett’s early investing mindset stayed with him throughout his life, contributing to his success as one of the richest people in the world. Buffett’s approach to investing in farmland and holding assets that produce cash flows has been a consistent strategy in his portfolio, as he now owns nearly a quarter of a million acres of farmland. This early experience taught him the value of long-term investing and the importance of buying and holding assets that generate income, which has been a cornerstone of his investment strategy.



Dr. JoNataye Prather, PhD, MSW, PSM-I, project manager/business consultant at Nationwide, landed her first job at a local seafood restaurant at 13. Unlike some of her coworkers, she didn’t need the money. “I worked alongside adults who depended on their paychecks to survive, while for me, it was just ‘play money,'” Prather said. Instead of saving or investing, she spent her earnings on food, clothes, getting her nails done and styling her hair — typical teenage indulgences. My parents likely wanted to teach me responsibility, and while I did learn the value of hard work and independence, I also learned the hard way what happens when money isn’t managed wisely.” Looking back, Prather wishes she had received better financial guidance because “I had no real direction for my money,” she said. This experience taught her the importance of financial planning and ensuring that "every dollar I earn has a purpose." She now prioritizes financial planning, which is a direct result of her early experiences with money. Additionally, Prather learned that "hard work doesn’t always mean financial freedom" by observing her adult coworkers who were living paycheck to paycheck. This realization pushed her to think beyond hourly work and explore ways to create long-term financial stability, which has influenced her career choices and financial strategies.

The lessons learned from these first jobs are not just anecdotal; they are foundational to the financial philosophies of these experts. For Buffett, the early investment in farmland was a lesson in the power of compounding and the importance of starting early. For Prather, the experience of seeing the struggles of her coworkers highlighted the need for financial planning and the dangers of living paycheck to paycheck. These lessons, learned in the early stages of their careers, have shaped their approaches to money management and investment strategies, providing a roadmap for others to follow.