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Mothers give us hugs, rides to soccer practice, cakes for birthday parties and the occasional reminder to make our beds. They can also give us life-changing wisdom in many different areas, including money.
Let’s cash in on their wisdom. We picked the best money lessons that Dave’s Facebook fans learned from their moms. Learning these lessons was sometimes fun and sometimes painful, but as you can see, these fans learned well!
Mike: My mom always told me “Pay as you go and you’ll never owe.”
Annette: Mom taught me to buy pre-owned children’s toys. I have a lot of fond memories of riding my $5 bike and swinging on my $15 swing set.
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Aimee: Where money is concerned, she said to only take advice from friends and family members who have accumulated substantial wealth. If you don’t have either of those, then read a book.
Diane: Take care of your home first. I indirectly learned this by watching her gamble her earnings away and struggle to take care of the basics.
Georgia: Do not hang your hat where you can’t reach it. In other words, don’t buy things you cannot afford.
Jill: It isn’t a bargain if you don’t need it. It’s those “bargains” that can keep you broke!
Kristie: It’s not the “big money” items in life that children remember. It’s the fun (and often free) memories that children take into their adulthood!
Cody: There may be checks in the checkbook, but that doesn’t mean there’s money in the bank!
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Paula: Stay away from home shopping networks.
Blair: Don’t buy something without waiting overnight! That one has saved me so many times. And any time I haven’t followed it, it’s come back to bite me.
Cindy: When I was 19, I decided to move out of my parents’ house and into an apartment because I wanted my “freedom.” As I was packing, my mom said to me, “If you need any help with bills, rent or food, don’t call on me. If you are going to give up living rent-free because you think the grass is greener on the other side, then you are going to do this on your own.” I was shocked and somewhat upset, but years later, I realized that being self-sufficient was the most powerful lesson she taught me. I am so grateful for the tough love she gave me, because it made me the financially responsible person I am today!
Whatever advice your mother gives you—whether it’s about money or anything else—take it to heart. After all, you can bet it’s priceless!
What are some of the best money lessons your mom taught you? Tell us in the comments below.