My Mom passed away in 2018, and I miss her every day. I attribute much of my financial acumen to the money lessons she taught me over the years. Many of these “old fashioned money ideas” still serve me today. All in all, I owe my Mom much of who I am today.
These money life lessons are not unusual and mirror many of the habits of those in the Millionaire Next Door book series. Check out the list and consider if there are any of these smart money habits that might boost your long term wealth.
I introduced you to my mom last year when she guest posted, Financial Satisfaction; Now and Later. That article exemplified her positive attitude. Whatever is going on in her life, good, bad or otherwise, she sees the bright side. On top of that, if I want or need something from her, the answer is YES. She is chatty, helpful, and involved. When I was growing up she worked in real estate, raised my sis and me (with the help of my dad), and gave back to the community. There was always room at the table for one more!
Back in the day, she marched in Washington for civil rights and was a champion of the underserved. Not one to hold back, I knew what she thought.
MOM’s MONEY and LIFE LESSONS:
- You have a commitment to give back to society.
- When given a gift, write a thank you note.
- Save part of any money you get.
- Avoid paying retail.
- Buy a luxury used car and avoid the initial depreciation.
- Do not waste resources. (I still remember the cut up pieces of scrap paper used for phone messages)
- Enjoy life; go on a nice vacation or splurge once in awhile.
- Think about others’ feelings.
- Give to charity.
- Balance your checkbook.
- Focus on accomplishments.
- Clean your room and take out the trash.
- Compare prices.
- Use coupons and comparison shop.
- Practice your religion.
- Buy the least expensive home in a good neighborhood.
- Shop smart (economically) to look well off.
- Get a college degree.
- Work hard.
- Use proper grammar.
- If you can’t pay cash, don’t buy it (except for your home).
- Buying to keep up with others leaves you in a constant deficit.
- Appreciating what you have, makes you wealthy.
- Save and invest regularly.
- Spend on what matters to you.
The overriding theme of Mom’s money and life lessons is discipline, consistency and having a plan. Peppered in with financial lessons such as “avoid paying retail, use coupons and save part of every dollar you receive,” are lessons that will enrich your life. My Mom drove our cans and bottles to the recycling plant in the 1970s, modeling care for the environment. No one went to the poor house, because they gave to charity. Practicing gratitude and hard work can get you further than whining and complaining.
Mom’s Money and Life Lessons Wrap up
Ultimately, building lasting financial security and a meaningful life comes down to adopting the timeless habits of discipline, consistency, and gratitude. By combining smart money practices—like saving regularly, avoiding unnecessary debt, and comparison shopping—with a commitment to hard work and giving back, you create a foundation for long-term wealth. These practical money lessons prove that true prosperity isn’t just about accumulating dollars, but about appreciating what you have and spending intentionally on what matters most. Embracing these core principles allows anyone to cultivate both financial independence and personal fulfillment over a lifetime.
Related
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My Story: How My Parents Went From Poverty To Wealth
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