There seems to be special powers bestowed upon mothers. When it comes to homemade grilled-cheese sandwiches, mom’s do it best. When it comes to supporting you in your goals and aspirations, mom’s do it best. But what about when it comes to teaching children about finances? For Sharon Suchoval, a mother and social-media marketer in St. Louis, the greatest lessons about finances and money were not taught in her Econ 101 class or a fancy webinar provided by the local credit union. No, when it came to teaching her children about finances, Sharon’s mom did it best.
“My mom got divorced when I was five. She had five kids and very little money. However, the lack of income didn’t reflect the abundance of financial life lessons I learned from my mother. These lessons have stuck with me my entire life and I now share them with you.
Women are strong.
Women should always be able to take care of themselves because you never know what circumstances life can bring. My mother taught me to be self-reliant and prepare for the future. I don’t need to lose my job or experience a life-changing illness to see the value of hard work and the value of a savings account, I learned it from my mother.
The value of an education.
My mother taught me that finances, or the lack thereof, should never be a reason not to go to college and get an education. My siblings and I spent weeks and hours filling out scholarship applications and grant forms. Where there is a will, there is a way. At the time I was growing up, a college degree really put you ahead of most applicants, today it’s simply an equalizer. I didn’t have a crystal ball to understand the growing educational demands of the job market, but it didn’t matter because I learned it from my mother.
Give and be generous to others.
One day, an organization knocked on our door and gave my mom a $100 bill because they were told that we needed it. My mother vowed on that day to pay it back, and she has – many times over. Even some of the greatest financial experts conclude that giving to others is a shared habit of the wealthiest people in the world. However, I didn’t need to learn it from experts, because I learned it from my mother.
Money and honesty go hand in hand. My mother emphasized the importance to keep a promise, especially financial promises. She taught us about credit and how it influenced your financial reputation. Since that time, I have always paid my bills on time and even maintained a 700-800 credit score. I don’t need to see the news that is littered with stories of insider trading, money embezzlement, and collection companies to see that it is wrong – after all, I learned it from my mother.”
This Mother’s day, take some time to reflect on the lessons you learned from your mother and consider the sacrifices she made to teach you. Sharon’s lessons are unique, but there are thousands of lessons in which mom’s do it best.
Comment below and tell us how your mom taught you about finances!
About Sharon Suchoval: Sharon is a mother and social-media marketer, living in St. Louis. She grew up in Chicago, Illinois with her mother and siblings. She continues to document her own lessons to her children through her inspiring blog, Advice for My Daughter.