By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

larenommeeship.com

Notification
Latest News
Why Are Milenials Having Less Sex?
Sex
Tabata: The 4-Minute Workout That Everyone Should Do
Sport
Should I Quit My Job? 7 Things to Consider First
Finance
8 Ways to Finally Get out of That Dry Spell
Sex
The Sculpt Society’s Megan Roup Shares 2022’s Fitness Trends
Sport
Aa
  • Lifestyle
    LifestyleShow More
    8 Moving Hacks That Make Packing Up So Much Easier
    30/05/2023
    The Last-Minute Vacation Checklist You Need For Any Trip
    25/05/2023
    11 Life-Changing Trips to Take At Least Once
    25/05/2023
    Summer Dinner Recipes for When It’s Too Hot to Cook
    08/05/2023
    Why Canva Is My Go-To Hack for Decorating My Home
    03/04/2023
  • Finance
    FinanceShow More
    Should I Quit My Job? 7 Things to Consider First
    31/05/2023
    5 Ways To Be Financially Productive Right Now
    26/05/2023
    How Mindfulness Can Help Level Up Your Finances
    23/05/2023
    The Productivity Hacks I Swear By As Someone Who Is Self-Employed
    20/05/2023
    Why a Listening Tour Should Be the First Thing You Do as Manager
    19/05/2023
  • Sex
    SexShow More
    Why Are Milenials Having Less Sex?
    01/06/2023
    8 Ways to Finally Get out of That Dry Spell
    30/05/2023
    How to Have Good Sex, According to a Sex Therapist
    23/05/2023
    5 Habits That Can Boost Your Sex Life
    23/05/2023
    What I Learned About Sex From Movies
    10/05/2023
  • Sport
    SportShow More
    Tabata: The 4-Minute Workout That Everyone Should Do
    01/06/2023
    The Sculpt Society’s Megan Roup Shares 2022’s Fitness Trends
    30/05/2023
    Easy Ways To Move More During the Holidays
    07/05/2023
    Stretching: The Crucial Thing Missing Your Workout
    02/05/2023
    8 Proven Benefits of Exercise (That Aren’t About Weight Loss)
    30/04/2023
  • Tech
    TechShow More
    Sage Bambino espresso maker review
    10/05/2023
    Trust GXT 255+ Onyx review
    10/05/2023
    Huawei Watch Fit 2 review
    05/05/2023
    Nvidia GeForce Now review: Is the RTX 3080 tier worth it?
    21/04/2023
    Swan Retro Air Fryer SD10510 review
    19/04/2023
  • Contact
  • English
    • Русский
    • Українська
    • Polski
    • Deutsch
Reading: The Best Money Hack My Mother Taught Me
Share

larenommeeship.com

Aa
  • Lifestyle
  • Finance
  • Sex
  • Sport
  • Tech
  • Contact
  • English
Search
  • Lifestyle
  • Finance
  • Sex
  • Sport
  • Tech
  • Contact
  • English
    • Русский
    • Українська
    • Polski
    • Deutsch
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
larenommeeship.com > Finance > The Best Money Hack My Mother Taught Me
Finance

The Best Money Hack My Mother Taught Me

Hewitt Zoya
Last updated: 2023/03/22 at 7:17 PM
Hewitt Zoya
Share
7 Min Read
SHARE

I have seen study after study back up the importance of talking to kids about money. It’s not all that surprising that when parents teach their kids about budgeting, saving, and other good money habits when they’re young, they carry those important lessons into their adult life. 

Contents
The Hack: Skip the $3 PurchaseYou Realize Small Purchases Add Up FastYou Learn to Embrace MindfulnessYou Build Good Financial Habits

Something that did surprise me though was that teaching kids how to be financially responsible can impact more than just their financial lives. A recent study from BYU found that children who learn proper money management behavior from their parents have more fulfilling relationships with their significant others in young adulthood.

My husband and I never fight about money, but who knew I had mom and dad to thank for that?

While my parents taught me numerous financial lessons as a child that have served me well in adulthood, in honor of Mother’s Day being just around the corner, I want to share the best money hack my mother ever taught me. 

The Hack: Skip the $3 Purchase

A young child is only capable of understanding so much about how finances work. One really helpful lesson my mom started me off with young ended up sticking with me my whole life. She taught me—and repeatedly reminded me for more than a decade—that you always resist the temptation to make a $3 purchase. Of course, she didn’t mean to put back an essential grocery or personal care item on the shelf if it only cost a few dollars. What she meant was to ignore the very small spending temptations that lurk around every corner. 

My mom explained to me that when a purchase is such a small amount that it won’t impact your budget, it’s easy to add it to your cart without thinking. That’s why retailers put candy, travel-sized beauty products, and other fun and inexpensive finds at the checkout. They know you’ll only have a few seconds to make a decision and the low price should, in theory, make it a no-brainer. 

Those tiny purchases were a big “no no” in my house and not in the “millennials should stop buying avocado toast” kind of way. Here’s what this hack really means at its core. 

You Realize Small Purchases Add Up Fast

Spending a few dollars may not seem that impactful at the moment, but $2 here and $5 there can really start to add up. I learned this lesson the hard way as a freshman in high school. My high school was across the street from a shopping center with restaurants and shops. With our newfound independence, all the teens were quite eager to hang out there after school. One smoothie turned into two. Add in a candy bar here and there and a Starbucks Frappuccino, and one day, I opened my wallet to realize there was no cash left. My birthday and babysitting money was gone, but I hadn’t made any major purchases. That’s when it hit me: My mom was right. The $3 purchases add up before you even realize what hit you.

mothers-money-hack-teg-in-article

Source: Color Joy Stock

You Learn to Embrace Mindfulness

Not only do these purchases add up quicker than one would think, but the problem is also that you don’t actually think about them all that much. 

You don’t give a $3 purchase the same credence you would a $50 one. Instead of putting it in your online shopping cart and walking away and only coming back to the purchase later if you really want it, small purchases are often made without really considering if they will add value to our lives. The $3 purchase is a recipe for overspending and increasing clutter in your home. 

My mom’s hack taught me how to be more mindful when I’m shopping. While this lesson started in a small way, today, I practice mindfulness on any purchase I make, big or small. Like anyone else, emotional spending is a temptation for me. Whenever I’m tempted to buy a pick-me-up or to celebrate by spending money, I ask myself if I really want or need the purchase or if those feelings will pass. 

You Build Good Financial Habits

That missing cash from my wallet was a good lesson in high school and was a turning point in how I view money. I learned then that I never wanted to feel my money slip through my fingers again. Looking back, it was also one of the first steps I took toward building good financial habits (and maybe my career as a finance writer!). 

Resisting those small spending temptations may look deprivational at first glance, but it plays into a much bigger picture. Budgeting, saving, and meeting financial goals—such as buying a home or paying for a child to go to college—all require being aware of what we’re spending and not “wasting” money. 

I used quotation marks because not every $3 purchase is a waste. You can buy that latte when you’re having a really bad day or can pick up a fun lip color that will make your next Zoom call feel more festive. It’s more about breaking the habit of discounting how impactful small purchases can be and making the most of the money you work really hard for. 

Thanks to inflation, I’ll probably have to teach my future children the $6 rule one day, because this is a lesson from my mom that I hope to pass on. 

Hewitt Zoya 05/02/2023
Share this Article
Facebook Twitter Copy Link Print
Share
Previous Article Advantages of Using Electric Scooters
Next Article How Your Attachment Style May Affect Your Sex Life
The Best Money Hack My Mother Taught Me
Why a Listening Tour Should Be the First Thing You Do as Manager
Does Size Really Matter? We’re Breaking It Down
Should You Consider Closing a Credit Card?
8 Sex Positions to Try This Weekend

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?