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16 Women Share The Best Financial Tips They Learned From Their Mothers

money tips from mom

When it comes to money management, we can use all the advice we can get, right? After all, is there such as thing as too much financial advice? Now, we decided to ask women about the best financial tip they learned from their mothers, because mothers know best — financial matters included.

1. Ilena, 40s

“My mother taught me three things about money and they are: 1) Save your money; 2) If you can’t afford it, don’t buy it; and 3) Use credit cards sparingly, or, in other words, pay for things in cash so that you know where your money is going.”

2. Caitlin, 27

“The best/most useful financial tip that I learned from my mother was to never spend what I don’t have. Too often, you hear about people who lose control of their credit card spending and end up with tons debt. I have a few credit cards to maintain my credit and get points toward things like flights, but I use them sparingly and keep a close eye on how much I’m spending.”

3. Mani, mid-50s

“I am a retired HR/financial executive and still do career coaching today. Although I had a career providing financial advice and support to major corporations, I received the first and best financial advice from my parents. For instance, my mother always told me NEVER to quit working, even if I could. This became incredibly important to me as I progressed through life. When my first marriage failed, it was my career that gave me the financial independence and strength to leave, and it also gave me the resources to start again knowing I could support my daughter and myself without being hostage to a bad relationship. And later, when my daughter was grown and flown, it was my career that gave me focus and resilience to deal with empty nest syndrome. I passed on these lessons to my daughter, and she is now following the same advice.”

4. Malorie, 22

“‘Save a small emergency fund. Even if you’re living paycheck-to-paycheck, find a way and save at least $1,000 for emergencies.’ This is something my mom started telling me when I was in high school and got my first job. This advice has helped me SO much and still helps me today. I live paycheck-to-paycheck, so when my car was in an accident and the insurance company needed $500 for the deductible, without an emergency fund, I would’ve been out of a car and paying insurance for nothing. It saved me!”

5. Carol, 68

“A civil servant with a side hustle as a licensed beautician, my mom, until her death, instilled in my sister and me the importance of having good credit: ‘With good credit, you can do, buy, and obtain anything you wish,’ she used to tell us. Having good credit meant paying bills on time, watching our spending, etc. This has resonated with me my entire life. In a marriage that has spanned over 45 years, I have always managed our budget, as my spouse never wished to do so. So when he and I both served in the military, and separated for a short time, his credit took a hit. Upon our reunion, I made a concerted effort to raise his credit rating. Upon our relocation to another state, I put his name on utilities and other bills, but paid them on time every month. The last time I checked our individual credit ratings, his was four points higher than mine.”

6. Lauren, 31

“My mom always taught me to be grateful for what we had — all the money in the world will never make you happy if you can’t be content with what you’ve already got, and she did a great job of instilling that mindset in me. As a financial coach, I get to show clients how to manage their finances in a way that increases their happiness, even if they are spending less. I don’t think I would know how to do that if it weren’t for my mom.”

7. Randi, 49

“At an early age, my mother told me to always live within my means. My mother was a single mother who raised two kids on what was considered to be a low middle class income. Not only did she raise two college graduates, she is a homeowner who retired near age 60. As a pediatrician who graduated from medical school at age 39, this tip has proven to be the most valuable: I have been working toward financial independence after placing my financial life on hold during medical school and residency, especially at such an older age.”

8. Diana, 46

“Always put a little money aside into your own personal account that your spouse doesn’t know about — you might need money in the future, possibly to get out of a bad situation, and you don’t want someone to have control over you with money.”

9. Megan, 27

“Home cooking is the yummiest way to save. Growing up, going out to dinner was a special treat, saved for just about one night a week. Every other night, my mom would cook — not usually anything fancy — but always something that required throwing a few ingredients together from the grocery store. I didn’t realize it then, but it wasn’t just my mom’s love of cooking that fueled all of the home-cooked meals —

it was a smart trick to cut food costs. Fortunately, I inherited my mom’s knack for cooking and I’ve loosely implemented the one-night-out-a-week rule. Seeing how much my co-workers and friends spend at restaurants makes me so grateful for the frugal habit I learned as a kid!”

10. Ilene, over 60

“My mom bought me my first stock, and I’ve since had an interest in investing (and as a financial professional, helping others have an interest in it, as well). I even wrote a book called Wealthy by Choice: Choosing Your Way to a Wealthier Future and conduct webinars at”

11. Molly, 31

“If you’re paid on a bi-weekly schedule, there will be two months out of the year where you get three paychecks, rather than two. Look ahead to see which months these are, and budget only for the usual two paychecks. Use the two ‘extra’ paychecks for the year to build up an emergency fund or save for travel.”

12. Sarah, 34

“My mother taught me at a very young age to have different bank accounts for different goals (i.e., a travel account, college account, food account, bills account, emergency account, etc.). This tip has truly taught me how to live off of what I earn, has allowed me to travel around the world (as I’ve put 10 percent of each dollar away into a travel account for years), and is actually the basis for the book Profit First. I’ve even implemented this in my business so that the business never spends more than it brings in.”

13. Amy, 49

“‘Have separate checking accounts’ is the best advice EVER from my mom! It’s the most memorable thing said on our wedding video — aside from our vows! My husband and I made an initial decision at the start of our marriage on who would pay for what bills, etc, and we don’t fight about money because our accounts are separate. It just works, and we’ve been married for 18 years.”

14. Deborah, 44

“I learned the best financial lessons from my mom, who was a diligent worker and contributor to our family. She believed in paying off all credit cards the month in which the money was spent. She was also an early adopter of online banking, which helped optimize and speed up the way our family paid checks, deposited money, and tracked expenses and income. Through my mom’s attention to and organization of bills and payments, I learned the importance of prudent money management that carried over into my adult years. I hope to pass the same lessons along to my sons!”

15. Elizabeth, 28

“My mother was always very good with money, as she handled my parent’s business finances. Her tips were: 1) Always pay your credit cards every month! There’s a lot of benefits to using credit cards — such as earning cash back or points — but those benefits are quickly a loss if you don’t pay your credit card every month. Today, I use credit cards exclusively and have earned several free vacations through points — and make sure I pay the bill every month! 2) Always have your own emergency fund, especially if you take time from your career to be a caretaker. Although many households combine their incomes, an alternative is to set up a new joint account and each keep money in a ‘rainy day’ account. This way, you can have money available for surprise gifts or in case of emergency.”

16. Michele, 52

“My mother’s guidance was to always live far below means, not so much to have a nest egg, but because it cures us of the faux notion of money providing happiness. She grew up in an orphanage, and while she encountered hardship, she learned sewing skills in abusive child labor that she turned into her own small empire as a seamstress for the biggest stores, such as Strawbridge & Clothier and Macy’s (of the time).”

Now, it’s *your* turn. What’s the biggest financial tip you learned from *your* mom? Let us know below!