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Money Advice From Mom

| May 03, 2016


Mother knows best!

Mother’s day is just around the corner. We are all thinking of our mothers and of the good advice and money tips they have given us over the years. Here is our tribute to Moms this week:

Shannon Sullivan, “Always be able to take care of yourself” and “always save at least a little”. Later when I bought my first house, with a little down and a lot of months, she followed up with, “Get a 15 year mortgage instead of a 30 year mortgage. You will be so glad you did.(And I was). -Marcy Haines


What my mom taught us kids (the 5 of us) is to save and save some more.  My Aunt always said she could turn “50 cents into a dollar”.  Meaning she knew how to make the most out of every penny.  I think watching our parents save and work hard has had a profound impact on who we are today.  We’ve seen them save and stretch each cent, so that now in retirement years they don’t have to worry and can have a very comfortable retirement and help others along the way. -Christina White


My mom showed me the value of saving every receipt (both cash and credit) and tracking the money that was spent throughout the month. Not only did this teach me to look for discrepancies between my statements and receipts, but taught me how to look at where my money was going and spend and save smarter!  -Tonita Britt


My Wife Jocelyn’s grandma had some great advice. She used to give Jocelyn a gold coin every Christmas, and she told her if you save this piece of gold then you'll never be broke. She also told her that if you invest $100 every month, you'll be able to pay for college by the time you're 18 years old. I did the math based on earning 10% per year in the stock market and it came to $67,600. Not too shabby This is a hypothetical example and is not representative of any specific investment. Your results may vary– Wes Price


My Mother has been gone for over twenty years now, but she always said,  “every night put any change you have in your pocket in a jar and save it.”  It is always surprising how fast the coins will add up.  She also always reminded me it is important to have that little bit of cash put aside at home for an emergency.  -Colleen Taylor