What mom can teach us about our finances

28 April 2017
a happy family

As Mother’s Day approaches, now is a great time to appreciate everything our mother’s do for us. We can apply a lot of what our moms have taught us to our personal finances.

Mom protects

Although in our rebellious years we may have resented mom for her “over-protection”, if it wasn’t for her we may not be here today. The same applies to finances: if you don’t protect them, they may disappear. The most valuable asset you have is your ability to earn an income. Losing it because of death, illness or injury would severely impact your family’s financial health. Did you know that Insurance Busters can help you find the right Life Insurance to protect you against such devastating loss? Simply email finplan@insurancebusters.co.za and one of our friendly financial advisors will gladly assist you.

Mom saves

For most of us surviving from month to month is more of a problem-solving challenge than a walk through the park, but mom always seemed to make the budget stretch and keep us fed no matter how tough times were. Through this we can learn a valuable lesson. This lesson is, how to structure you finances. Do you go through the month blind, spending money carelessly or aimlessly? Or do you have a carefully devised budget that will get you comfortably through the month, perhaps even with some money to spare? Be like mom, and let this be the month that you think about what you spend your well-earned money on.

Mom plans

Mom always seemed to be 10 steps ahead, foreseeing pitfalls and dangers we never could have anticipated. Through this, we learn the value of thinking ahead and investing in our future. Do you spend all your money on things that decay as you buy them, or do you make your money work for a future return? Your future self will either regret, or appreciate, how much money you choose to invest today. Again, by emailing finplan@insurancebusters.co.za, our expert financial advisors can help you direct your money into an investment that meets your goals.

What other lessons can mom teach us about wise financial decisions? As Mother’s Day 2017 approaches, make mom proud by putting these steps into practice.