Learn from your mother on how to manage your finances

Learn from your mother on how to manage your financesLearn from your mother on how to manage your finances

This Mother’s day, I am happy to write an article about what we can learn from our mother and implement such best practices to manage our finances better.

No one can replace the role of a mother. The love and affection she has towards her children is incredible.

What best practices to be learn from a mother and implement in our financial planning

1) Planning should start from kitchen: Have you ever observed, how our mother does the planning in the kitchen. If there is no planning, you would not have break-fast or lunch or dinner on-time. Means each and every such small goal can be achieved perfectly with proper advanced planning.

2) How to save more money: Do you know how to negotiate the prices and get at lower costs?  Before asking someone, check with your mother. As an example, every day, she negotiates prices for vegetables for very small savings. But at the end of the month, such small savings for each and every expense would convert into good savings.

Also Read: 22 money saving ideas you should implement

3) Manage within budget: We keep cribbing and say we are over spending and our savings are reduced. If you want to ensure you want to manage within your budget, you don’t need Microsoft excel or an ipad or Iphone to track it. Just check with your mother, how well she manages the household groceries and other expenses within budget with a small piece of paper or even without that.

4) Manage during difficult times: Our business has gone for toss 22 years back. We had little money to run our home. My mother was managing home within the little money available. We were able to manager this for almost a year. If you would like to know how you manage your finances in difficult times, mother can help you.

5) Monitoring children and giving them the best:  Mother keeps monitoring the children and sees that she gives best to them. If children are making mistakes, she corrects them.

When you invest money in any investment options, act like a mother. Invest in best place and keep monitoring them and take corrective actions to ensure your money is safe and gives best returns.

6) Patience: Have you observed how patience is your mother at home. When you invest in any investment options, how patience you are? If we take an example of Investments in Stocks, are you just selling investments at lower returns or booking them under losses?  Do you have enough patience before you get good returns? Patience pays.

You may also like: Does savings depend upon the income

7) Vast experience that things cannot go wrong: Why mothers play an important role when you have a function or marriage at home. They got vast experiences in planning and managing things which cannot go wrong. You need not spend several years to learn good practices through some websites or blogs. You can learn from your mother itself.

Conclusion: The above list is not comprehensive, but some of the major points which I felt can be related and should be learnt from a mother. Next time, when you look for some planning, go and talk to your mother in the kitchen. Planning starts from Kitchen.

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Learn from your mother on how to manage your finances

Suresh KP

One comment

  1. I fully agree with this , savings start from home and learning smlall tips from mother.Whatever be the income ,she can well manage house at the same time make some savings for a rainy day.
    How to go about meeting day to day expenses can be best learnt and practised by following what and how mother
    meets all requirement to family members

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