Timeless Money Advice We Learned from Mom

While our mothers have taught us many things, one of the most important lessons they have taught us is about responsible money management. In honor of Mother’s Day, we took a Discover team poll and compiled the most important financial lessons we learned from our moms.

The Value of a Dollar

“Money doesn’t grow on trees,” was a common refrain. Moms are champions for sticking to a budget and reminding kids not to take money for granted. Whether they were working outside the home or making a single income work for the family, they taught us many lessons about keeping track of our money and spending it wisely.

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Need vs. Want

It used to be the world’s cutest teddy bear, now it’s the world’s coolest iPhone upgrade that tempts us to part with our monthly allowance all at once. But a voice chimes in our heads and says, “I know you want it, but you don’t need it.” And that voice sounds a lot like Mom.

The Real Definition of a Bargain

Our mothers also taught us that “bargain” isn’t synonymous with “cheap” and a deal on something you don’t want is no deal at all. Finding the perfect trench coat that you will wear for 15 years marked down from $500 to $300 is an investment. Spending $30 on a pair of shoes that fit badly because they are on sale is throwing money away. A true bargain is paying less than what you had budgeted for a purposeful purchase.

Financial Knowledge is Power

Whether they were carefully balancing the checkbook or researching the details of home equity loans, our mothers showed us the importance of knowing where your money is going and understanding financial principles. They took us to start our first savings account, helped us understand our first pay stub, made us do our own taxes and drilled us on the importance of saving for retirement when we got our first jobs. All these lessons added up to a sense of financial responsibility.

This Mother’s Day be sure to thank your own special mom for all the important life lessons she taught you over the years!

Legal Disclaimer: This site is for educational purposes and is not a substitute for professional advice. The material on this site is not intended to provide legal, investment, or financial advice and does not indicate the availability of any Discover product or service. It does not guarantee that Discover offers or endorses a product or service. For specific advice about your unique circumstances, you may wish to consult a qualified professional.

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    Get the credit card that's got it all: Discover it®.

    Discover it® gives you big‑time cash rewards with 100% U.S.‑based customer service.

    Discover it® Card

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    Get the credit card that's got it all: Discover it® 

    Discover it® gives you big‑time cash rewards with 100% U.S.‑based customer service.  

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    Earn big‑time cash back that never expires with Discover it®

    Earn big-time cash back that never expires with Discover it. See Rewards
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