Financial lessons from your Mother (that you should have listened to)

6th March 2017

The Author: Craig Gardner
Craig works in the Madrid office as a Financial Planner and is responsible for helping clients make better financial decisions.

Mother’s Day. The day we celebrate our Mums and let them know how much we love them.

Mum is the best teacher we ever had: She taught us how to speak, how to use a knife and fork properly, how to use the washing machine and even helped us choose which university to attend. She also gave us our first lesson in how to look after our money – and as an adult, some of those basic principles still apply. So, let’s celebrate the financial advice Mum gave to us.

1. The piggy bank.

Mums always have a little something saved away. Something for those rainy days or those spontaneous trips out, perhaps even money for the summer holidays.

Sometimes it’s physical, like a piggy bank full of the loose change in a purse – those copper coins would often add up to enough money that you could go and buy some sweets from the local shop.

This is Mum’s way of telling us to put some money away for emergencies – using it when you need it the most but feeling safe knowing it’s there.

2. Don’t buy impulsively.

Ever remember throwing a tantrum in the toy shop because you wanted that action figure so much?

I remember doing that once or twice as a child.

I might have been miserable for a few days, but Mum taught me to think about what I purchase and when; important advice if you want to stay out of debt.
In a world where purchasing only takes one click, waiting to make a purchase might save you money – or perhaps you’ll ultimately decide you didn’t need the purchase anyway.

3. Priorities.

Mum’s are generous by nature. At Christmas and on birthdays I’d be spoilt rotten. Mum always knows the difference between what we need and what we want. Here, Mum’s teach us about priorities in our spending, always buying us what we need first before considering what we want as secondary purchases (if we deserve them).

4. Using extra income wisely.

Having debt is stressful, and although Mum’s teach us about saving money for a rainy day, they also teach us about using that bonus payment or extra income, for example, wisely.

On the odd occasion Mum needed to use credit, she paid those debts off with any extra money she earned.

From this, we learn that money owed should be paid back as quickly as possible – rather than using the extra money for those ‘impulse purchases’ Mum warned against.

5. Making money last.


I was always running around outside, climbing trees, and doing all the adventurous things we do as a kid – Mum always told me to look after my shoes and not to get them too muddy or wear them out too quickly.

I never really listened.

What Mum was trying to tell me was look after what you have, and ‘make things last!’. That lesson has never been more apparent to those managing money.

Some lessons are with us our whole lives. Love you, Mum.


If you want to find out more about how regular savings can benefit you, get in touch with us.