Our mothers are often some of our earliest teachers. Throughout our lives, many of us have been fortunate to know additional motherly figures who have proven to be influential in shaping our thoughts, behaviors and personalities. In honor of Mother’s Day (which is this coming Sunday, May 13…not that you need a reminder or anything…), we reached out to our executive team to find out what their mothers, grandmothers or other maternal figures in their lives taught them about financial matters. Here’s what they had to say:
“My mom taught me to always keep a “stash of cash” in my purse in case of an emergency – mine, a friend’s or a stranger’s.” – Candice Pitcher, Director of Compliance/General Counsel
“[I’ve learned] from my lovely wife, when buying ANYTHING, always ask ‘Is this the best you can do?’ You will be amazed at how stores will give additional discounts on about anything you are buying.
[I learned] from my mom, when engaging a contractor to do any work on your home, you can have any two of the following: (1) speed; (2) quality; and (3) price. Plan ahead and give time for home projects to be completed so you can get price and quality. If you need quality in a hurry, you will always end up overpaying.” – Adam Thorpe, President & COO
“My Mom made it a point to keep all receipts and reconcile her accounts each month to be sure everything was balanced accordingly. I’ve learned that by doing this, you often find errors. It also shows where you are spending money that you probably shouldn’t be (Starbucks…). It also gives the opportunity for your spouse to see your spending habits (Starbucks…).
She told me to always think about a purchase before an impulsive buy. I always think about that when there is something I want that I probably don’t need. If you think about something overnight and still want it, it’s better than seeing it and needing it right then.
She was very cautious with spending on food. We would eat leftovers for days. There are so many ways you can remake a meatloaf. Each day you can add additional ingredients to spice it up and make it new again – YAY!
If you need it you can find it at the dollar store.” – Colleen Fisher, Director of Operations
“My mom was a master of “floating checks”. During the 80s, my family lived paycheck to paycheck. There were plenty of times that she would buy groceries, using a check, knowing there were no funds in the checking account to cover the groceries. She would go write a check for “cash” and deposit that cash into the checking account to cover the groceries. If all worked out the way she planned it, Dad’s paycheck would then be deposited before any of the floating checks came through.
What this taught me was to always plan ahead, live within your means and make sure that you have some money set aside for emergencies. Not for the new pair of Air Jordans, but for true emergencies that can impact your job or your family’s health and safety.” – Kyle Swensen, Director of Information Technology
This week, take a moment to say “thanks” to the moms in your life who have positively impacted your financial education.
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