Remembering What Our Mothers Taught Us About Money Management

Our mothers, no matter where they’re from or where they are now, deserve our love and respect. Nearly all the immigrants who use Remitbee Online Money Transfer have sent money back to their mothers at some point. In fact, most of the staff at Remitbee have too!

Supporting your mother back home is why you are a hero. Never forget your roots!

In celebration of Mother’s Day, we’ve created a list of the best money tips our mothers taught us.

Pssst, reading this article won’t get you out of buying a Mother’s Day gift!

Mom’s Money Management!

Photo by Sharath Kumar on Unsplash

Let’s reminisce. How many of these phrases did you hear mom say growing up?

“Fix it, don’t throw it away”

Fixing things that are broken, that’s just common sense, right? As you might have discovered when you immigrated to Canada, the West thinks differently. It’s harder to get an appliance fixed and much easier to buy a new one. If you have the skills to fix something yourself, mom’s way is best for your wallet and the planet.

“Can you cut me a deal on this?”

If mom taught us anything it’s that being frugal is a way of life. It means calling up the cable company for a discount when your promo expires, it’s sharing your Netflix account with your neighbors, and it’s carefully counting your finances before buying anything that’s not essential.

“One day, you’ll be buying us dinner!”

This was something you probably heard growing up a lot! A huge part of Asian culture in general, from China to India to the Philippines, is to repay your parents as a way of thanking them for bringing you up, giving you a good life. It’s your turn to help them out financially where you can now you’re independent.

These Money Tips are Still Highly Effective and Relevant Today

Photo by chuttersnap on Unsplash

You might be thinking at this point that mom’s tips no longer apply now you’re living the high life. Well, you’d be wrong! Here’s how you can apply those deeply ingrained money tips in your modern life:

Fixing instead of replacing. While you can’t pop to the corner shop and get your microwave fixed, there are new ways for you to fix and save money. From smashed phone screens to buying reusable items in the first place.

Hunting for the best deal. We know that sometimes it’s easier to pay more for a quick solution than spend a few hours researching to discover the cheapest option… but it’s what mom would do! With the internet at your fingertips, you can find the cheapest fees very quickly. To help you out, we did a little research on the cheapest remittance fees.

Pay back with gratitude. The biggest lesson mom taught us was to be respectful and grateful for what we have – and to pay it back! This is a good thing to keep in mind and to expect that you’ll always need to pay back for good things. This is especially relevant for debts – if you take loans to buy nice things, you must be prepared to pay for them.

Being sensible with money, respecting our mothers and cutting costs wherever we can is an integral part of our culture.

To use your long-lost money skills and give your loving mother a gift, sign up with Remitbee!

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