Necessity and the Mother of Personal Finance

Sometimes it’s the most difficult events in our lives that force us to learn the best personal finance lessons.

More than four in ten marriages end in divorce, forcing families to find savings where they can and live on less. 

How Divorce Changed My Life and Taught Me Personal Finance

 My mother’s biggest concern was our financial stability. Our household income was dramatically cut without any warning. 

How Divorce Changed My Life and Taught Me Personal Finance

Though she never let her constant worrying break through her brave façade, she began to teach me the importance of personal finance. 

Learning the Value of a Dollar

While shopping for uniforms, I found what I thought was the coolest jacket ever and was convinced that I needed it in order to look my best at my new school. I begged my mom to buy me the jacket. 

Learning the Value of a Dollar

Admittedly, it was also overpriced for a jacket. As we were checking out, and just as I was accepting my defeat, my mom had a last minute change of heart and decided to buy me the jacket.

Learning the Value of a Dollar

She explained that it was about time I learned the value of a dollar. She was going to make me pay back the money she had spent on the jacket that I hadn’t taken care of.

Learning Coupons and Credit Cards    

My mom also taught me the importance of saving and using coupons. My family always jokingly calls her the “Coupon Lady” because she has been known to cut and mail coupons to several family members.

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