I grew up homeless and was a millionaire by 35. I’m teaching my kids to budget so they always have stability.

• Stephanie Mearse is a vice president at Desert Capital Management Group and mom of two. 
• She was homeless as a child and says budgeting helped her become a millionaire. 
• She doesn’t want her kids, 15 and 8, to be given everything. 

This as-told-to essay is based on a conversation with Stephanie Mearse. It has been edited for length and clarity.

When I was 7 years old, I was homeless. My 5-year-old sister and I lived on the street with my parents, and I wanted a Hallmark Christmas movie life — or at least a warm, dry place to sleep at night. One day, I called my grandmother, and she came to get my sister and me. My aunt and uncle adopted us, providing the foundation for me to live a much more secure life.

I had a home, and I also knew I wanted money. I thought that would solve so many problems. That motivation stayed with me as I became a teenager and then an adult. I wanted to be able to do whatever I desired — travel, buy a house, drive a nice car — without being held back by finances.

Being financially secure motivated my career path

At first, I wanted to be a lawyer because I knew they made a lot of money. But I realized that wasn’t a fit because I didn’t like arguing.

Instead, I decided to go into finance. I knew that in that field, I could make a lot of money, help other people, and save for retirement at the same time. Those were three major goals of mine. I worked toward them, and became a millionaire at 35. I had come from literally nothing and created financial security.

I started thinking about what I wanted for my children

My husband Joseph and I got married young and have been together for nearly 20 years. We both have fertility challenges, so we took a “don’t try, don’t prevent” approach to growing our family.

After about five years of that, I became pregnant with my son Vincent, who is now 15. That’s when I really started thinking about the life I wanted my children to live. Before that, I wasn’t sure I’d ever have kids. Now, it was real.

I realized I wanted to show my children the leadership and quality of life that I had always desired for myself. I’d help them live life to the fullest, but also show them how to get to new levels of financial success themselves. I’d raise them to be motivated, not spoiled.

The most important lesson is budgeting

Budgeting has been instrumental for my financial security, and I still budget today. It’s part of the reason why my husband could retire last year at just 43 years old.

It doesn’t matter how much money you have: budgeting is what makes you successful. It not only makes you disciplined, but it helps ensure that your saving, spending, and investment habits are in balance.

I show my children our budget, and help Vincent create model budgets of his own. I talk with his eight-year-old sister Tiffany about what budgeting is and why it’s important. Before they’re 18, they’ll know how to pay rent and balance a bank account — simple but critical life skills. They’ll also know about stock, bonds, and investments, financial skills that many adults don’t fully grasp.

Our kids save for their wants

Both my kids earn money through doing chores. If they want a big ticket item — like the $1,500 gaming computer Vincent recently bought — they need to budget and save for it.

Sure, my husband and I could afford to spend $1,500 on a computer for him. And yet, we made Vincent earn half the cost, then matched the amount he was able to spend. Because he contributed to the computer, he takes such fantastic care of it.

When I was in high school I saw kids who were given expensive cars. They wrecked them and expected their parents to buy them a replacement. I never want my children to act like that — I want them to recognize the value of the things they have.

I want my kids to be motivated, not entitled

There are many things I’m able to give my kids that my parents couldn’t give me. Vincent is listed on my credit cards, so he’ll have an 800 credit score by the time he’s 18. We’ll pay for his college, although we expect him to apply for scholarships as well.

I’m thrilled to be able to offer my kids the kind of life I only saw on television. But I know the biggest gift I can give them is a sense of motivation and drive, not entitlement.