7 Personal Finance Experts Share The Best Advice They Got From Their Moms

Whether they're full-time homemakers or big time movers and shakers, moms just aren't getting enough credit these days.

When you consider that they must rear a human child and then condition him or her for survival in the crazy world we live in, the fact that some would only estimate their value at $66,000/year is startling. 

Women are emerging not only as breadwinners in the home but money managers as well. Nearly 60% of working mothers say they hold the reins on their household expenses alone and another 30% share the responsibility with their partners.

In light of Mother's Day, we thought we'd celebrate by asking some bright personal finance minds some of the most important money lessons their moms ever taught them. 

"Never rely on someone else to take care of you –– not even your husband."

"My mom's best money advice is to never be financially dependent on anyone, including my husband. She told me time and again to make my own money, have my own career and build my own credit.

And her advice doesn't stem from being financially jilted by a man –– she's been married to my father for over 40 years and her parents were married for almost 60 years. Instead, she recognized the importance of financial independence (especially for women) and insisted I take the necessary steps to cultivate a stable lifestyle for myself." 

––Kendal Perez, blogger at HassleFreeSavings.com. 

"Don't be afraid of banks. Be better than them."

"There are far too many people who demonize the financial services environment and cause us to fear banks, fear credit cards and fear debt. That's just silly.

I was always taught by my parents that it's better to understand and leverage the financial services system than it was to be scared of it and avoid it."

––John Ulzheimer, CEO of SmartCredit.com

"You're never too young to have a side hustle."

"While I was fortunate enough to always have what I needed growing up, any extras were on me. Starting at age 12 or so I worked weekends and summers at my mom’s store coupled with other jobs, like babysitting and busing tables.

I saved my little paychecks namely for concerts, vintage clothing shopping excursions and special trips to Newbury Comics in Boston for Duran Duran Japanese 12 imports. All those years saving for those little extras instilled in me a solid work ethic and a penchant for saving my pennies."

––Trae Bodge, Senior Editor, Retail Me Not 

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