Money Smarts – A Mother’s Legacy

“A good woman is hard to find, and worth far more than diamonds.” Proverbs 31:10, The Message Bible

Happy Mothers’ Day to all the women and mothers out there! As we celebrate mothers for their love, selflessness and nurturing abilities, let me share a few thoughts on the influence a mother (for the males, think a parent) can have on their children’s financial lives. Taken from Proverbs 31, these are desirable qualities for raising money smart kids:

  • A global perspective. “She’s like a trading ship that sails to faraway places and brings back exotic surprises”. Be knowledgeable about financial markets, both domestic and international.
  • A saving culture. “… with money she’s put aside, plants a garden”. Practice the discipline of paying yourself first.
  • A bias for action. “She looks over a field and buys it”. Having done your due diligence, don’t be shy to make that investment.
  • A strong work ethic. “First thing in the morning, she dresses for work, rolls up her sleeves, eager to get started. She senses the worth of her work, is in no hurry to call it quits for the day”.
  • A generous attitude. “She’s quick to assist anyone in need, reaches out to help the poor”.

There is tremendous power in example. If you model these qualities to your children and protégés, they will develop into smart and confident money managers and investors, ready to succeed financially.

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