words of wisdom
If it's true that we grow up to be just like our parents,
then your mother's attitude about finances may have been passed
down to you. In honor of Mother's Day, the staff of Bankrate.com
is sharing some its mothers' financial words of wisdom.
"Don't count your chickens before they're
If you don't have the cash to make a purchase, wait until you've
saved enough to afford it. Great advice, especially in our "charge-it
society" where so many of us buy on credit figuring we will
be able to pay it off eventually. "Eventually" can be
years away, especially if one is only able to make minimum
payments on credit cards.
"It won't kill you."
This is used in reference to multiple situations -- going to church,
eating pickled beets, sitting next to a sibling or going into a
shop where you were not allowed to touch anything. Use it financially
to remind yourself that most impulse purchases are unnecessary,
in other words, you won't die without it. It tends to put
things in perspective.
"If everyone else jumps off a cliff, would
Don't overextend your financial means just to follow fads. Know
what you need vs. something you simply want. And don't just head
to the trendy store for that item. Shop
around to get the best price.
"If at first you don't succeed, try, try again."
This self-evident truism reminds us that good things aren't won
easily. They require repeated effort. Got burned in the stock market?
Learn your lesson and don't repeat your mistake, but keep trying
to put your money to work.
Mom also used a closely related saying:
"It doesn't matter how often you get knocked down; it's how
often you get
"Sure you can have your own car ...
assuming you can pay for it and for the insurance. And that you
can pay for it with the money you have left over from paying your
tuition because if you can afford your own car, you can afford to
pay for college."
You can have it if you can buy it with your own money. The lesson
is pretty obvious; Even mom and dad don't offer a free lunch.
If you want something in life, work
"Don't be wasteful! We can turn the bottle
upside-down, and get that last bit out!"
When you're looking for ways
to stretch your money, first be frugal with what you already
have. You'll spend less. Always put that extra saved away for a
"Everyone is responsible for their own happiness."
You have to learn to look for happiness within, and you can't depend
on others to make you happy. This is the same for financial happiness.
You have to take
control of what you spend and what you bring in.
"Are you trying to air condition the whole
Don't let laziness cost you money. Conserving energy is not only
good for the environment; it will save
you plenty of money.
Compiled by Amy C. Fleitas.