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Mother's Day: What My Mom Taught Me About Money [PHOTOS]

Posted: 05/11/2012 3:18 pm Updated: 05/11/2012 5:19 pm

Arianna Huffington Mom

Chances are you learned some of your first money lessons from mom.

Arianna Huffington, president and editor in chief of the Huffington Post Media Group, told us that when it came to money and finance, her mom operated like the government does.

"My mother was one of the original deficit financers," she said. "She made ends meet by borrowing or by selling her possessions."

HuffPoster Alex Simons didn't spend his allowance money at the candy store.

"My mom actually came up with a great system," HuffPoster Alex Simons told us. "Save your $5.00 bills in an envelope and use that as an additional savings fund."

Perhaps you didn't realize it then, but that time when your mom convinced you to clean your room in exchange for some extended TV time was really your first lesson in bartering goods and services.

Your mom was likely your first shopping buddy. She may have taken you to your first flea market and showed you how to haggle. Or perhaps she brought you to your first midnight Black Friday bonanza and taught you how to find the best deals.

What did your mom teach you about money?

We asked HuffPost staffers and readers to tell us their most memorable money lesson from mom. Here they are:

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  • My mother once told me that she operated like the government -- she first decided what it was that her children needed, and then she set out to find the money. My mother was one of the original deficit financers. She made ends meet by borrowing or by selling her possessions. I remember her selling her last pair of little gold earrings to get me through school. And when I saw a magazine picture of Cambridge and for some reason I felt that I wanted to go there, everybody else laughed at me, except my mother. - Arianna Huffington, President And Editor In Chief, The Huffington Post Media Group

  • It was senior year of high school and my mom and I were shopping for a prom dress at a fancy department store on Fifth Avenue in New York City. The two of us spotted a fabulous dress that we both knew was out of our price range, so my mom proposed that we go out to lunch and "think on it." Much to our surprise, when we came back from lunch, the dress had been moved to the 50-percent off rack! It was truly a miracle. I still wear the dress to this day, nearly six years later. I guess the money lesson here is to not make impulse buys and to think things through. Thanks, Mom! - Emily Cohn, Money Editor, The Huffington Post

  • Whenever I wanted something that was fairly expensive, my mom would tell me to wait for a week or so, and if I still wanted it, I should go back and buy it. This piece of advice has saved me from lots of impulse purchases, and kept me from buying things that I didn't really want or need. - Zoe Triska, Associate Books Editor, The Huffington Post

  • My mom actually came up with a great system (or heard about it somewhere and didn't tell me), which is to save your $5.00 bills in an envelope and use that as an additional savings fund. Her argument is that, if you REALLY think about it, what do you NEED that costs $ often need things that cost $10 or $20 and always need your $1s to adjust those amounts. I've actually found that when I save my $5s I don't miss them but also accumulate savings really fast. - Alex Simons, Executive Coordinator, The Huffington Post

  • My mom taught me that saving money is like making money. Now I check my bank accounts regularly and buy only what I really need. - Bonnie Kavoussi, Economics Reporter, The Huffington Post


Filed by Emily Cohn  |