On this day, I wish all the readers of this blog a very Happy Mother’s Day. Today, I remember the lessons I learnt from my mother who was my first teacher. Not only she taught me how to lead a good life, but she instilled in me the love for knowledge and education. It is because of her I am who I am. She taught me valuable lessons in personal finance, which I want to share with my readers.
- Apportion your income
I was born and raised in India, where we get paycheck once a month. When my father used to get his salary, at the end of the month, my mother would keep a fourth of it it as savings and a fourth as emergency fund. She resisted her temptation to spend more. Till date, I follow this advice and save first before I spend.
2. Drop by drop we fill the pot
my mother taught me the importance of small savings and controlling small expenses that could make a difference. Time and again, she proved how small savings over a year translate into small fortune. I follow this advice and tell my children that ever penny counts.
I would love to hear from my readers what personal finance lessons they had learnt from their mother.
Happy Mother’s Day.
Quest for Knowledge 