The Finest Finance Minister: Our Mothers!
There is no second thought about the fact that our mothers are incredible. Mothers are special and deserve to be honoured every single day. We can learn a great deal from our mothers. Our mothers instil essential life lessons on us, often without them or us even understanding it.
Along with embedding us with life lessons, mothers teach us a lot about handling our finances and managing our money. Our mothers may not be financial scholars or money experts, but no one knows how to extract the most value from their money. Sadly, among all the things a mother teaches and bestows on her children, financial lessons do not always receive the attention they need!
So here are some of the best money lessons our mothers will teach us. And mind you, these may not be a part of the finance school curriculum!
Roll your Sleeves and Budget Up because it's Month Start.
- Mothers can take charge of all the expenses seamlessly because they have a good sense of how to budget their costs. A mother understands how to distribute money to various expense categories. She understands where the money should go and how much it should go.
- Budgeting assists in ensuring that their money is spent wisely. You will be able to meet both your needs and your aspirations if you make a monthly budget for various expenses such as entertainment, food, and personal shopping. Without a budget, you risk buying things you don't need and not having enough money to buy what you do. Of course, a mother would never allow such a thing to happen.
Sticking to the Budget
- For most of us, sticking to a budget is challenging. Money doesn't always stretch as far as you'd like it to; unforeseen expenses emerge, and who isn't prone to the occasional impulse purchase? This can be a particularly difficult burden for women, as we often spend the most on home care, childcare, and other necessities like clothing and food. But yet again, mothers are masters at this.
- Mothers not only create a budget at the start of every month but often indulge in reviewing, refining, and refreshing the budget. This RRR helps to balance the overall expense of the month. Ultimately making us stick to the monthly expenditure amount fixed at the start of the month. Hence no dent in the Budget at all!
Save, Save even the Smallest Amount.
- Our moms believe in "a rupee saved is a rupee earned." To ensure that they spend less and save more, mothers avoid unnecessary expenses, giving a perfect example of saving money on regular expenses. We all need to learn this, especially the younger generation. We have a habit of spending far more than we make. However, we should develop the practice of saving because we never know when we will need to dip into our funds. It's a nest that provides a lot of comfort.
Buying Things only when the Time is Right
- Mothers tend to have a perfect time for doing things. The same goes for buying absolutely everything and anything. By the ‘Right Time,’ we mean the times when there are discounts on groceries, clothes, goods etc. Moms are patient enough to get perfect deals, even when online shopping. They often buy in bulk to save a significant amount of money.
- All these prove to be well-calculated moves. In this way, both the motives, i.e. buying and savings, are accomplished simultaneously. Smart, isn’t it?
Take Money-Related Decisions Calmly
- One of the most essential characteristics of a good parent is patience. A mother understands this better than anyone else, so she gently and devotedly raises her offspring. This attribute also enables the mother to handle her finances effectively. She understands that no one becomes wealthy overnight.
- It helps to sit back, take a big breath, and think carefully in many circumstances where significant and crucial financial decisions are involved. This easy practice can help us avoid wasting or spending our hard-earned money inefficiently.
Stop Making Money Complicated
- More often than not, a mother knows precisely what is beneficial for her family and what is not. As a result, she'll never complicate anything, including her finances. One of the essential lessons we can learn from our mothers is simplifying our finances. Your mother will follow these tips without the help of an advisor, whether it's simply writing down her daily spending in her notebook, saving for anything, or simply being frugal with her money.
- We need to know where we're spending, but we also need to know where we're investing. As a result, a straightforward financial strategy is frequently the most effective.
Our mothers never sat down to take notes of these money-related lessons. Instead, they incorporated them into their lifestyle with experience. They neither get down to excessive planning nor are they absolutely unplanned when it comes to Money. With their unique expertise, mothers have managed to run the household in all conditions possible. Aren’t they a Superhero just for that? Indeed they are!
This mothers’ day, take guidance from none other than your Mother and handle finance at your best. Also, take a step ahead and start your investment journey with Glide Invest and of course, your mother’s blessings to make a financially secure future. Download the Glide Invest App today!