The Financial Advice You Grew Up On

Her Mom always taught her to watch ads and plan ahead, from clipping coupons to waiting for items to go on sale. You can really plan your meals for the week based on what’s on sale that week at the grocery store. That mindset helped her realize how much you can save just by being patient and intentional with everyday purchases.

-Cassie W.

Here's a tip she would share with anyone, not just her children. Several years ago, Kim and her sisters opened a savings account to vacation together. Each month, a set dollar amount is automatically drafted from our respective accounts and then credited to the joint account. Every few years, they go on a fun vacation together, and it seems like it’s FREE because of the savings account.

-Kim M.

As a new mom, she will teach her child the importance of a rainy day fund. Life can throw curveballs, so it's good to have a safety net. She recommends:

1. Start small; any amount you can save will add up over time.

2. Set up an automatic transfer, you won't miss it if you don't see it.

3. Pay yourself first. Make your savings account one of your budget line items.

-Kylie L.

Her mom had a super strict budget. If you don’t have it, you don’t spend it. Therefore, carrying a credit card balance is very rare for her as an adult. She also taught Nicole to pay more than the minimum on her mortgage or auto loans whenever possible. That way, it’s paid off sooner, and you aren’t paying a lot in interest.

-Nicole C.

She teaches her children to make sure they have enough extra money in their savings account to cover their deductible if they are in a car accident. If something happens, then you are prepared, and the financial hardship isn’t as bad.

Her mom was so frugal with our family of 6 growing up. She always had extra canned goods in the pantry so that you could throw together a quick casserole if you didn’t have the basics for a meal. Lori continued this tradition in her home. Never underestimate what you can do with a can of Cream of Chicken soup.

-Lori D.

Live by the 10-10-80 rule.

1. Give 10%

2. Save 10%

3. Live on 80%

-Teresa G.

The main money tip Brianna is teaching her daughters is that just because you have money, it doesn’t mean you need to spend it. Putting money into savings is important, but nothing will stay in savings until that lesson is learned.

-Brianna K.