As Mother’s day approaches, we often find ourselves reflecting on the relationship we have with our mothers, and the friends and family members who have mothered us. They helped shape our beliefs, mold our thoughts with their passed down nuggets of wisdom, and guided our paths into womanhood. While watching their actions and listening to the words they spoke to us, our mothers were the first teachers on how to love ourselves and others, throw down in the kitchen, set boundaries, rise above adversity, and handle our bank accounts.
In celebration of Mother’s day, the My Fab Finance team share the financial gems they have learned from their own mothers.
The biggest lesson I learned from my mother is how much of a blessing having a financially secure parent is. My mother has not ever needed a dime from me because of her wise financial choices and her freedom, in turn, gives me freedom to start businesses and live life on my terms. I don’t have to worry about if she’ll be okay because she has made sure that she’s okay financially and that is a huge blessing and burden I don’t bear. It inspired me to be that type of parent to my children so that they are free as adults to live their lives for them, and not me. – Tonya Rapley, Founder of My Fab Finance
I learned how to save when money is tight and money management skills, in general. My mom never taught me these things directly but I watched her and learned from her. She indirectly positively impacted how I handle money! – Precious Rodgers, Social Media Manager
My mother grew up experiencing financial struggle; while I grew up in a home with financial security, her experiences taught me and my sister early on the importance of budgeting, not being wasteful with any type of surplus, and understanding the value of what is earned versus what is spent; those lessons helped lead us on paths to our own financial stability and growth. – Dani Williams, Assistant
“A man is not a financial plan. Always have your own money.” My mother always stressed the importance of financial independence and self-sufficiency while partnered and single. A strong financial base and literacy creates a solid foundation with self and while in partnerships can attract partners that complement your financial habits. – Dhanya Bell, Editor
My mother was always the one who managed the household finances. She taught me to always pay my tithes and offering first, and to get into the habit of setting some money aside, even if it is just a few dollars at a time. Whether it will be used for an emergency, rainy day, or future goal (like purchasing a home, car, or vacation) just get accustomed to having some money in savings. Spending on experiences was always worth it in my house when growing up. My mom said those memories last a lifetime and can positively impact other areas of my life. – Candice Davie, Content Manager
My mom was not great with money management. Even today she tells me that she wishes I were her mother so she could have learned how to be wise and productive with money management at an early age. So, from my mom most of the things I learned about money was what not to do. Lessons I learned were: (1) The lottery is not a financial plan. (2) Do not allow pride, shame, or guilt stand in the way of getting the financial help you need to change your life. (3) Be a genuine giver and you will always be divinely supported. – Cleo Childress, Contributing Writer
My mom had some challenges with managing her finances which had a big impact on my relationship with money. There is a level of financial literacy that I am embarrassed to say I did not have until much later in life. One of my biggest takeaways was to acknowledge that it was still possible to educate myself so that I could unlearn some of those defeating behaviors and build a better financial future for myself and my family. I learned to never depend on one source of income, how to budget, and not become overly dependent on credit cards. – Christina Merriweather, Contributing Writer
What are some money lessons your mother taught you over the years?
We thank all of the mothers, mothers-to-be, and mother figures for the profound impact you make on each generation. Have a wonderful Mother’s Day!