More Financial Tips from Moms

Since we enjoyed gathering wisdom imparted by the most important people on earth last year, we decided to do another round. Therefore, in honor of Mother’s Day, here is some financial advice & guidance local moms have given or will provide to their kids one day.


Watch what you are spending. Don’t hamburger-and-French fry your money away. Big spending can happen with lots of little purchases. Know where it’s going. Also, save more from each paycheck than you think you need. Some expensive repair or replacement will always come up when you own a home or a car.


For about six months now, I have been putting away about $10 a month into an account for my baby. It’s not much and I really don’t have to look far into my budget to save that amount for her, but my plan is to surprise her with that money several years down the road and show her the importance of saving.


Just because it’s on sale doesn’t mean you should buy it. And make sure to budget for fun. It’s easy to put all of your money toward paying off things like student loans, but then you also have to reward yourself for hard work.


Don’t spoil your kids. It’s better for them and it’s better for your budget.


You’re never too poor to give. Truly, I have witnessed how generosity has rewards of its own. I believe that hard work makes your dreams possible, but I don’t want you to try to keep up with the Joneses—it’s just not worth it. I want you to be content with what you have, avoid excessive debt, find happiness in living within your means, and commit to saving and preparing for a rainy day.


Always keep $20 in cash in your wallet in case of emergencies. Learn how to use a check register—it’s too easy nowadays to just swipe and forget! Establish a savings account and never let your balance drop below a semester’s worth of tuition. And always ask questions if you don’t understand something financial, such as what a W-2 is or how credit works.


Save money wherever you can so that you can spend it where you need and want. It’s good to learn to go without things that you want in life if you don’t have the money to pay for them. Things can’t make up for the burden of debt.


Take care of your stuff. Always save, budget, and work hard to have enough money to take care of yourself, your family, and to bless other people. Never be in a rush to make a big purchase. Plan and save for those big items you need to buy one day like a car, house, or family vacation, and be willing to wait for a good deal to come along before purchasing it.


I have always shared with my kids the joy that comes from saving money with a plan to do something fun and exciting for someone else. You can save up and buy yourself whatever it is that you want and it always feels good to get things after saving for it. However, the thrill of watching someone receive something they wouldn’t or couldn’t buy for themselves is better than anything you could ever buy for yourself. Saving money and being smart with financial blessings in life is wise and if you share the wealth, it’s magical!