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Sunday is Mother’s Day. While every day is a good time to inform mother ‘thank you’ for all the love and lessons, Mother’s Day is about the positive effect we get from mommies and mother figures. Moms are known for putting on many hats. For instance, did your mom instruct you the best ways to read or prepare? Did she take you to cultural occasions? What about lessons in personal finance?
More than likely, the most frequent lessons taught by our moms related to finance. From taking you along to the bank and grocery shopping to assisting clip discount coupons, hanging out with mom is like having a front row seat to individual finance 101. And it shows among the MyBankTracker staff.
MyBankTracker’s editor and authors got together and shared lessons from their mamas and mom figures that are still implemented to this really day. In their own words, here are money lessons the MyBankTracker staff learned from these fantastic women.
“The most significant lesson my mom taught me is to only spend cash on things you require. I understand it’s cliche, but she also utilized to tell me that product possessions don’t matter, it’s simply stuff. She only spends on things that she absolutely requires and always reminds me that having a rich heart is most important.” – Claire Tak, Chief Editor
“If you are going to pay for something, ensure it’s of excellent quality – even if it costs a bit more. The suggestions has reached not just food, but to everything else. She believes that if you purchase something of quality and you look after it, it will last for a long time and possibly save money compared to purchasing something of poor quality over and over once more. – Simon Zhen, Writer/Analyst
“My mother always says Vitamin ‘M’ does not grow on trees. My mommy is the most prudent person I understand, and the most hard working also.
My mother works two tasks, and never gets food outside for lunch, dinner, or even a treat. She brings everything from house, and faithfully eats all her leftovers. So when I go shopping, I’ve my mother’s voice in my head, and the truth is, I am happy it exists. It’s very important to understand that your money must go to savings so you can get something larger than clothing: a house, a life, a household. And my mama is a constant tip that working is a gift.’ – Katherine Muniz, Writer
‘My grandma instructed me a really useful cash habit that I exercise all the time. She instructed me to conserve half of my paycheck, and spend the other half. That ways, I am never ever without an emergency situation fund.’ – Gerry Morales, Writer
‘My mother taught me from a very young age why it’s very important to conserve money. From giving me a mini bank in which I can save coins to motivating me to conserve my allowance cash, my mom has always emphasized conserving cash and not spending on pointless products. She’s actually always been great at saving, which is how she handled to send her three kids to private middle and secondary schools in spite of being a mainly single parent.’ -Daryl Paranada, Writer
‘My mother urged to not just buy things, however make investments. The economical key to success is purchasing staple products that are timeless and timeless. Quality constantly over quantity.’ – Theresa Kim, Researcher
‘My mama would constantly state that you cannot bank procrastination. I did not rather understand what she meant until I graduated college and began my profession.
Simply put, make your money now. Don’t simply conserve for retirement. However, save for tomorrow, and the day after that, and the day after that. From a broken down automobile, to an unexpected costs, to a major clinical emergency situation, our lives can alter in the blink of an eye.’ – Fate Lopez, Social Media
Mother’s Day is also the last day to enter our # MomTaughtMe contest! Share a money lesson from mama for a chance to win $100. Inspect right here for contest rules.