Money Advice From Mother to Daughter (Part 2)

I asked one simple questions to thousands of moms. "What one money tip would you give your daughters?" Mothers from all over the country and of different cultures answered my questions.

Photo By: Jorge Barahona

My guest bloggers Elkinsette Clinton submitted her story for June. It was so informative and touching. If you have not read it I suggest you read it. Her story sparked the theme for the month of July. The theme is “From Mother to Daughter.” With the help of social media, I asked one simple questions to thousands of moms. “What one money tip would you give your daughters?” Mothers from all over the country and of different cultures answered my questions. I must admit some of the answers were simple and to the point and others were quite long. I picked a few of my favorites to quote. This week’s categories are Credit, Save, and Budget. If you didn’t get to read part 1 with Tithe and Earn I would. There was some good advice.

With the help of social media, I asked one simple questions to thousands of moms. “What one money tip would you give your daughters?” Mothers from all over the country and of different cultures answered my questions. I must admit some of the answers were simple and to the point and others were quite long. I picked a few of my favorites to quote. This week’s categories are Credit, Save, and Budget. If you didn’t get to read part 1 with Tithe and Earn I would. There was some good advice.   

I picked out a few of my favorite advice from the mothers to use as quotes. This week’s categories are Credit, Save, and Budget. If you didn’t get to read part 1 with Tithe and Earn I would. There was some good advice.

Credit

  • Never have a credit card
  • Your credit score is Important!! Be good to it, and it will be good to you.
  • Don’t use credit cards as extra cash.
  • Only use credit if you can pay the balance every month and use points for practices such as gas cards. NEVER carry a balance on credit.
  • Pay cash for your car
  • Don’t ever let no one use YOUR credit. This has messed up so many women… Cosigning for friends and relatives
  • Never take out a student loan.
  • Pay as you go. Don’t borrow money or use credit for little things.

Save

“Always have money set aside (separate account). And be involved. If your spouse or significant other handles the finances, be sure to know what’s coming in and what’s going out. Also, know all the online payments accounts and passwords.” – Harmony Clayton
  • Give 10%, Save 10% and Invest 10%
  • Always have your own money, save to plan and plan to save.
  • Plan, save, own
  • Save, don’t let other people control it and don’t spend it on an unnecessary mess.

Budget

“Stick to a budget. Buy in bulk. Cut unnecessary expenses. I suppose that’s three tips on their though.” – Saranya Deepak
  • Budget your money before you decide how to spend it.

If you missed Part 1 click here to read it.

If you missed Elkinsette post read it now.

Comments

  1. My parents never had credit cards when I was growing up and always taught me that they were “bad”. Now I know they aren’t “BAD” but they CAN be!

  2. These are amazing tips for a mother to give a daughter. I hope that my daughter always has financial independence. Sharing tips like this will greatly help!

  3. This is something my mother tried teaching me as I was getting ready to start college. I needed to earn credit but she wanted me to do he right way. I love that I can relate what you wrote to the things she said. I’ll be passing this on to my daughter too!

  4. This is great advice! Its good to have a credit card for your score, but don’t borrow unless you can pay it. My biggest looming issue is student doubt, wish I would have paid up front for all grad classes.

  5. This is really neat. I don’t know that too many people emphasize on the importance of saving. I personally wish, I could save more.

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