Mother’s Day 2024: Top 5 money lessons you can learn from your mother
financial independence. Here are a few of those fundamental lessons I’ve learnt from my mother that would resonate with anyone raised in an Indian household. One of the earliest money lessons I learned from my mother was the importance of distinguishing between needs and wants.
I remember accompanying her on grocery trips, and she would carefully compare prices and prioritise essential items. She'd explain, "We buy what we need first, and if there's extra, we can consider treats." This lesson has stayed with me as an adult, helping me differentiate between necessary expenses and discretionary purchases, ultimately contributing to smarter financial choices. Also, watching my parents save together and pool their resources taught me the value of teamwork in achieving financial goals and the importance of a corpus fund, especially in a dual-income household.
Like many Indian mothers, my mom too gave me a small piggy bank and encouraged me to deposit any spare change I received. Over time, the coins accumulated, and she'd help me count them. This experience, shared by countless mothers across India, instilled a habit of consistent saving that I carry with me to this day and will definitely inculcate in my children.
However, for my children I will add how they can also invest their money and make it grow. Educating kids on money management is critical from day one, just as important as other parts of their value system. When I expressed interest in a new bicycle, my mom seized the opportunity to teach me about setting goals.
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