Lessons From Mom

by Tax Guy - Burlington Accountant on May 11, 2008 Print This Post Print This Post

Today is mothers’ day and all over the country Americans are making plans to get together with their moms or give them a call if they are a distance a part. As we all get older we get fonder of our parents and mom will always hold a special place. As I think back to my childhood, I’m thinking of some of the lessons my mom passed along to me about personal finance.

My mom led a frugal existence. She raised three boys on her own on a meager income. But she always managed to get by and thrive. We ever went without food or shelter although we didn’t wear the latest fashions and have the nicest home.

1> Make a shopping list and post it in a prominent location. The fridge worked for mom. As she ran out of things she put them on the list (and if we wanted anything we added it. Although mom didn’t always bite!). When she went shopping she stuck to the list and never went over budget.

2> Have dinner at home. We always had to come home for dinner every night. It was a chance for the family to be together and enjoy one another’s company. I suspect my mom made dinner for us because it was far less expensive tan eating out.

3> Take you lunch to school or work. Just like dinner it pays to eat from home rather than fast food. We were healthier and happier for it.

4> Worn clothes can be patched and mended. Why buy a new pair of jeans when you can have a patch sewn on the inside of the knee?

5> You don’t need to travel to exotic locations to see the world. A day long road trip can be an adventure in itself. Gas prices may be high, but are still a lot less expensive than a cross country adventure.

Leftovers (and yes back to food) can be added together to make some interesting meals.

What were your lessone from mom?

About The Tax Guy...

Dean Paley CGA CFP is a Burlington accountant and financial planner who services individuals and business owners locally, nationally and internationally. Dean has appeared in the National Post, Toronto Star and Metro News.

To find out more, visit Dean's website Dean Paley CGA CFP or connect via Twitter @DeanPaleyCGACFP.

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