9 Things We’re So Grateful Mom Taught Us About Money

Today is the day we pause to reflect on everything our mothers have given us, from kisses on scraped knees and comfortable laps to sit on, to financial wisdom that has the power to stick with us through adulthood. We asked you to share the personal finance tips your mother imparted to you, because hey, sharing is caring and she’d probably approve.

Happy Mother’s Day to all you mothers out there, and thank you for teaching us that the piggy bank will not replenish itself magically. Still disappointing, but good to hear it from you.

The roof over your head isn’t free forever

1. “When I turned 18, and still lived at home while working my way through school, I was charged rent. ‘That’s how the world works,’ my mom said.” — Jack

The future will arrive someday

2. “As soon as I landed my first full time job, my mom sent me to see the investment guy at the bank to set up an IRA and automatic contributions. She didn’t start saving until later in life and she wanted to make sure I got an early start.” — Anne

3. “Waste not, want not! Save before spending.” — @kshgoyal

4. “When I was six years old, I saw a doll advertised on the back of a cereal box that I really, really wanted. It probably cost about $3.00. My mother said that if I saved half the cost from my allowance, which was only about $.50 a week, she would match it. Ohhh that seemed like a long wait, but I probably appreciated the doll much more than if my mom had just bought it.

Likewise with my first bike, a used blue Schwinn. Mom matched half the price and I had to pay for the rest using my allowance and doing chores around the house. I loved that bike.

Saving and delayed gratification are valuable things to learn at an early age, and they stick.” — Pamela

5. “Never spend the principal; live off the interest.” — Jim

Know your limits

6. “My mother knew the value of a dollar, as she raised three kids using alimony and the pay from part-time jobs. ‘Never buy what you can’t afford.’ I’ve followed her lead on that, and pay my credit cards off every month.” — Jack

7. “Never spend more than what you have.” — @boringfileclerk

Money is a real thing

8. “I remember my mother always writing checks, and explaining to me when I asked that writing checks was the same as spending money, and you had to have the money in the bank if you were going to write a check.” — James

9. “When we were a bit older, mom introduced “funny money.” Doing chores would earn us pretend cash (she used Monopoly money) and when we got enough we could exchange it for some real money and earn a trip to the local dime store to buy ourselves a treat.” — C.E.