Our Mother’s Impact on Our Financial Mindset, Habits, and Growth

Our Mother’s Impact on Our Financial Mindset, Habits, and Growth

As the backbone of many families, mothers play an important role in shaping our financial mindset and habits. Their influence extends beyond providing for their children’s basic needs, as they also teach valuable lessons about money management and decision-making. In this blog post, we’ll explore how mothers impact our approach to finances and how their roles have evolved over time.

If you’re curious about how your mother’s shopping habits and financial guidance have influenced your approach to money, keep reading! We’ll discuss the differences between discount and high-end shopping preferences that can be attributed to a mother’s guidance, as well as how women’s natural tendency to give affects personal finances. Next, we’ll delve into the shift in women’s roles regarding financial control, including the growing wealth controlled by women and their increasing confidence in managing finances.

We’ll also examine ways to teach our children about money management through open conversations about spending choices. Plus, we’ll explore the importance of balancing the giving nature of mothers with self-care. And finally, we’ll talk about the ways working with a financial therapist can help individuals improve budgeting skills and gain confidence in investments – all crucial aspects of achieving long-term financial health.


The Role of Mothers in Shaping Financial Mindsets

Mothers are our biggest teachers in life, and their financial habits play a significant role in shaping our own financial mindset as adults. From shopping preferences to prioritizing others’ needs before their own, mothers pass down values that influence how we perceive the value of money and how we make purchasing decisions, to name a few areas. 

Related: 9 Ways to Save the Earth and Your Wallet


What Did Your Mom Pass Down?

When we think of things that our mothers pass down to us, we might think of physical items like family heirlooms or recipes that have been handed down through generations. However, there are other lessons that we learn from our mothers that can have a significant impact on our lives. One of those lessons is about our financial mindset and habits.

For some, their mothers were responsible for the financial duties of the household. For others, their mothers were given an allowance each month or had no role in the family finances. In addition, based on their family background, religion, and experiences your mom had habits of being either a saver or spender. 

In my case, my mom was someone who was taught that shopping was a Sunday family activity at the local discount stores in town.  Her way of showing love now is to take her granddaughters shopping and spend the day together. Based on her background, it is rare for her to spend a lot of money on one item, but she would happily spend that same amount on multiple items at a discount store like T.J. Maxx or items off the sale rack.

On the other hand, my best friend’s mom would only buy high-end items from luxury stores by running into the store or having a personal shopper pick it out. It wasn’t a chore she enjoyed. Even if both of our moms spent the same amount of money, to them, the value was completely different. 

Today, I still go straight to the sale rack, but I’ve also learned the value of investing in high-quality items that will last. While my mom taught me the importance of being thrifty, I’ve also learned that treating myself to a high-end item from time to time can be a worthwhile investment in myself.

What financial habits did your mother pass down to you? How have they impacted your spending habits today? 

Working with a financial therapist can help you identify and understand any negative financial behaviors that you may have picked up from your family. This can help you create a healthier relationship with money and create financial habits that fit your personality and life goals today.

Remember, everyone’s relationship with money is different, and it’s important to find what works best for you. Click here to book a free exploratory call with Your Financial Therapist. 


Our Mother's Impact on Our Financial Mindset, Habits, and Growth from Your Financial Therapist at YourFinancialTherapist.com


Motherly Instincts and Putting Others First

In a recent survey that I conducted with a group of women, I asked them what they would do if I gave them an extra $20. The common response was that they would spend it on others, for example something for their child, like a snack at the grocery store or a gift for a friend.

Interestingly, few women mentioned spending any of the money on themselves, like a yoga class, a new shirt for themselves, or a treat to recharge.

This tendency to put the needs of others first, even in small decisions like how to spend an extra $20, is a common theme amongst women. While prioritizing family and loved ones is admirable, it’s also important to recognize that taking care of ourselves is just as crucial to our well-being an the well-being of our family.

Today, this habit may still affect how we make financial decisions and can lead to neglecting our own financial health. It’s important to challenge these selfless habits and to make an effort to prioritize our own well-being, both financially and otherwise. The saying goes, “you have to put the oxygen mask on yourself first to help others.” Giving away money to others is like giving away your personal oxygen to reach your goals. Be mindful how and when you do. 

In order to improve your financial health and break free from limiting patterns passed down by your mother, consider working with a Certified Financial Therapist like myself, Erika Wasserman from Your Financial Therapist. I offer coaching sessions tailored specifically for individuals looking to reshape the way they think about money, manage their finances, and achieve their financial goals. By working together to shed light on any negative beliefs and behaviors and adopt new empowering habits, you can create a healthier relationship with money. 

Next, let’s take a look at how women’s evolving roles in household finances are now being recognized and given the attention they deserve, allowing more and more women to take control of their own financial assets with confidence and skill.


Women’s Evolving Roles in Household Finances

With women now controlling a third of total U.S household financial assets—more than $10 trillion, and projected to control much of the $30 trillion baby boomers will possess by 2030, it’s crucial for women to develop confidence and skills around managing finances (source). This shift in financial power highlights the importance of understanding how our mothers’ habits have shaped our own approach to money management.


Increasing Control Over Household Financial Assets

Working mothers are taking on an increasingly important role in their families’ financial well-being. As female workers gain higher wages, they are able to take on a larger part in how their households’ funds are used. 

It’s essential for these financially empowered women to be aware of their mother’s teachings about money so that they can make informed choices when managing their family’s finances. Similarly, working mothers play a truly vital role in taking care of their family’s financial future, as we’ll explore in the next sections.

Related: Free Money Relationship Quiz


Our Mother's Impact on Our Financial Mindset, Habits, and Growth from Your Financial Therapist at YourFinancialTherapist.com


How Our Mothers’ Financial Habits Affect Us Today

Identifying Patterns Passed Down from Mothers

To put it simply, taking a closer look at our mothers’ financial behaviors can reveal patterns that we may have unknowingly adopted. 

For example, if your mom was an avid discount shopper like my mom, you might find yourself gravitating towards sales racks or opting for more affordable options when shopping. On the other hand, if she prioritized high-end purchases, it could influence you to value quality over quantity or price when making spending decisions subconsciously.

Additionally, if your mother was a saver, you might have learned the importance of saving money and the value of delayed gratification. On the contrary, if your mother was a spender, you may have picked up impulsive spending habits or a carefree attitude towards debt. 

Regardless of the financial habits that our mothers passed onto us, it’s never too late to reassess our behaviors and to create new financial habits that work for us. 

By identifying patterns and developing awareness of our own attitudes towards money, we can take control of our financial future and empower the next generation to become financially savvy.


Taking Charge of Personal Finance with Awareness

Becoming aware of these inherited financial tendencies is the crucial first step of taking charge of our own personal finance journey. 

As mothers play an important role in shaping their children’s financial skills, understanding the impact our own mothers had on us helps us make informed decisions about what aspects we want to keep and which ones need adjusting as adults. By acknowledging both positive and negative influences from our upbringing, we can develop healthier attitudes towards money and improve our overall financial health.

Our mother’s financial habits have a lasting impact on our personal finances today, and by teaching daughters about money management skills we can empower them to take charge of their own financial futures. 

Related: Helpful Financial Resources



Our Mother's Impact on Our Financial Mindset, Habits, and Growth from Your Financial Therapist at YourFinancialTherapist.com


Teaching Kids About Money Management Skills

As society evolves rapidly, it becomes increasingly important for mothers not only to manage their own finances confidently, but also to teach their children essential money management skills early on so they grow up prepared for future challenges. This section will discuss the importance of early education about money matters and empowering kids with practical tools.


Importance of Early Education About Money Matters

Research shows that children who are taught financial literacy from a young age have better chances of becoming financially responsible adults. This is why working mothers have a major part to play in tending to their family’s financial necessities while transferring important knowledge onto their children—especially their daughters. By openly discussing budgeting, saving, and investing with your children, you can help them develop a strong foundation in personal finance.


Empowering Kids With Practical Tools

Of course, teaching kids about money can sometimes prove to be a difficult task. Here are some ways you can empower your daughters with practical tools for money management:

  • Budgeting: Teach your daughter how to create and maintain a simple budget by tracking income and expenses regularly.
  • Saving: Encourage her to save a portion of any allowance or earnings she receives, emphasizing the importance of building an emergency fund and setting long-term goals.
  • Credit: Discuss the basics of credit scores and responsible borrowing habits so she understands the potential consequences associated with debt.
  • Informed decisions: Show her how to compare prices when shopping online or in-store, helping her make informed purchasing choices based on value rather than impulse buys.



It’s no secret that mothers want to take care of their families while also working hard to provide for them. Working mothers, in particular, are making strides towards improving their financial health as well as the financial health of their families for generations to come.

Especially in today’s world, it’s crucial for mothers to prioritize their own financial well-being, in addition to taking care of their loved ones. Plus, by teaching their kids about money management from an early age and by taking control of their own wealth, mothers can set a positive financial example for future generations.

For mothers wanting to increase their financial well-being, a free consultation with Your Financial Therapist can be the first step towards achieving your goals. 

By working with a Certified Financial Therapist CFT-I™, you can grow your money mindset and skillset as well as take charge of your personal finance journey. I would love to help you develop budgeting and saving skills, gain confidence in investments, and ultimately achieve your financial goals.

Take the first step towards better finances today by scheduling a free consultation with me, Erika Wasserman, Your Financial Therapist.