Money lessons we’ve learned from our mothers

From getting us ready for our first day of school to picking us up when we fall, mums have a special knack for guiding us through life’s trickier moments. And for many of us, our earliest lessons about managing money came straight from them.

Research by Cambridge University shows that our relationship with money is forged at the age of seven. From then, our mums may have passed down simple yet valuable tips that stick with us well into adulthood – sharing advice to keep us financially steady and secure. Whether it was learning to save pocket money, finding a good deal, or knowing when to say ‘no’ to impulse buys, these lessons still ring true today.

This Mother’s Day, we’re celebrating some of the timeless financial wisdom our mums have given us – helping us make smarter, practical money decisions every day. And if you feel like you maybe didn’t pick up the best habits, you might find some wisdom from the tips we’ll share.

Lessons for everyday financial health

Our mums often taught us that managing money doesn’t need to be complicated – it’s about staying consistent, forming good habits, and learning when to say no. Here are some timeless lessons from our mothers that still keep us financially healthy today:

Live within your means

Just because you can afford something doesn’t always mean you should buy it. Many mums pressed home that financial security often means knowing when to hold back. You might well remember your mum wisely pointing out, “Just because you can afford it, doesn’t mean you should buy it.”

It’s fine to treat yourself occasionally, but regular overspending can lead to financial stress down the line. By learning to live comfortably within our means, we stay in control of our money rather than letting our money control us.

A bargain isn’t a bargain if you don’t need it

How many of us heard our mums warn us about impulse buys with, “It might be on sale, but do you really need it?” While a good deal can feel tempting, buying unnecessary items simply because they’re discounted doesn’t save money – it still costs money to buy them.

Mum was right: the smartest savings happen when you only spend on what you really need. Before you rush to make a purchase, pause and ask yourself: “Would I still buy this if it was full price?” If the answer is no, it might be best to leave it and save your money.

Take care of what you have

“Look after your things, and they’ll last longer.” It’s simple advice, but something mums repeat for good reason. Whether it’s regularly cleaning your household appliances, keeping gadgets safely stored, or properly washing your clothes, looking after your things saves you from having to make expensive replacements down the road.

Remember, a stitch in time saves nine…

Lessons for financial security & independence

Building financial independence and security are two more lessons many mums have shared with us. These insights help us to gain freedom, confidence, and a secure financial footing. Here are some of our favourites that you might remember:

Always save for yourself & a rainy day

Saving regularly isn’t just about reaching big goals like a holiday, a home, or a wedding. Many mums wisely advised us to set money aside for ourselves and unexpected expenses. Having a rainy-day fund brings peace of mind, so when life throws you a curveball – like unexpected car repairs or emergency costs – you’ll be ready.

To make it easy, try saving a fixed percentage of your pay every payday or set up automatic transfers to a separate savings account. Even small amounts build up quicker than you think, giving you the financial buffer your mum always recommended.

Support yourself financially

Many of our mums emphasised financial independence as crucial for our security, freedom, and confidence. Supporting yourself financially – whether by paying your own bills, managing debts responsibly, or moving into your first home – can be an empowering milestone.

Your mum may have said something like, “Always make sure you can stand on your own two feet.” Achieving independence isn’t just about money, it’s about having the skills and confidence to navigate life’s ups and downs on your own terms.

Lessons for smarter money decisions

Making smarter choices with money doesn’t need to feel daunting. Mums often passed on practical strategies that now help us stay on track, make wiser financial choices, and even save more effectively. Here are some of the best pieces of advice we received:

Create & stick to a budget

Your mum might have told you, “It’s not what you earn, it’s what you keep.” A clear, simple budget can make a huge difference in staying financially steady, helping you see exactly where your money goes and where you can save.

When cash was more prevalent, you may have seen your mother or grandmother using the ‘envelope method’ – putting money into different envelopes with each relating to an expense.

Now, you can consider more practical or modern budgeting methods like the 50/30/20 rule or using apps like Plum to track spending. Regularly monitoring your expenses helps you adjust habits, identify savings opportunities, and confidently achieve your financial goals.

Negotiate!

You might’ve heard your mum say, “If you don’t ask, you don’t get.” Negotiating might feel uncomfortable at first, but it’s a skill that can significantly boost your financial health. Whether it’s asking for a salary increase, negotiating a lower rent, or haggling for a better deal on a major purchase like a car, negotiating can save you significant amounts of money.

To feel confident negotiating, try doing your research first. Know your worth in salary discussions, compare rents in your local area, and check competitor prices for big purchases. Mum would remind you: a little preparation goes a long way!

Be patient & delay gratification

We live in a world where it’s easier than ever to make impulse buys, but your mum’s advice to “sleep on it” still holds true. Practicing patience and delaying gratification can significantly reduce unnecessary spending, helping you stay financially healthy.

Try adopting the ‘24-hour rule’ before making large or spontaneous purchases. If you still feel the same excitement or need for the item a day later, it might be worth it. Often, you’ll find that once the impulse fades, so does the urge to spend. This habit can help you keep more money in your pocket for the things that truly matter.

Lessons for long-term financial success

When it comes to securing our financial future, mums may have pressed that a little knowledge and planning can go a long way. This could be making sure you’re prepared for retirement or taking the first steps in investing. Here are a few more wise lessons mums have shared:

Educate yourself about finances

Knowledge is power, and that’s especially true when it comes to managing money. Becoming financially literate is one of the smartest investments you can make in yourself.

If you want to stay on top of your financial knowledge, you’ll find regular insight and free resources from the Moneyboat blog.

There are also plenty of other resources who can help you build your financial confidence. There’s the MoneySavingExpert blog, podcasts like Meaningful Money, or free resources from sites like the Open University.

Invest early

One line you may have heard from your mum, “the early bird catches the worm.” And that rings true with investing: start early. Thanks to compound interest – the idea that your money earns money, and those earnings generate even more – the sooner you invest, the better.

If you can, the best avenue is to make regular contributions to a workplace pension. It’s tax efficient as it’s taken from your pay before income tax is applied, and your employer should match any contributions up to a certain amount. Beyond a pension, an ISA (Individual Savings Account) can also grow significantly over time.

You don’t need huge sums to get started. Investing even small amounts regularly can provide you with a comfortable financial cushion in the future.

Plan for your future

Thinking long-term is something mums often encourage us to do. Whether you dream of buying a home, retiring comfortably, or achieving other significant milestones, it all starts with planning.
Setting clear, realistic financial goals helps make the future feel less daunting. Break these goals down into smaller, achievable milestones – like saving enough for an emergency fund  or making monthly contributions to your pension pot.

Bonus lesson: Enjoy your money – within reason!

It’s perfectly fine to budget for treats, holidays, or experiences you genuinely love. You might enjoy dinner out with friends, booking tickets to see your favourite band, or taking a weekend trip somewhere special. All of these moments are an important part of life and can be done alongside sustainable financial habits.

Remember, balance is key. By allowing yourself small rewards within your budget, you’ll find it easier to stay motivated and stick to your financial goals.

Conclusion

Our mums often give us some of our most valuable life lessons – and when it comes to money, their advice can be timeless. Whether teaching us to save for rainy days, live within our means, or simply to pause before buying something we don’t need, mums have a special way of guiding us towards smart financial habits.

This Mother’s Day, why not take a moment to reflect on the lessons your own mum shared, or maybe even let her know how much you appreciate her wisdom. And if you didn’t get these lessons growing up, remember it’s never too late to start building better habits!