Next to being familiar with bank processes, growing up with moms is most probably the next closest thing to financial literacy. #realtalk
In its simplest term, financial literacy is basically understanding how to manage and use your money effectively. And it’s safe to say that most moms, if not all, are exceptionally gifted in this area. (Is that what happens when a human being comes out of your body?)
As a little kid, chances are, you have a memory of your mom budgeting your weekly expenses, listing down items for your grocery list, or haggling with your suki in the market. We can’t deny it. They are legit money experts! And truth be told, some of your mom’s FinLit wisdom have already rubbed off on you too with or without you noticing it.
Let’s recall these five times your mom taught you financial literacy growing up (you can thank them later!):
1. When she reminds you to eat everything on your plate.
There is NOT a single child in this country who haven’t heard their mom say, “Ubusin mo yung pagkain mo. Maraming nagugutom na bata.” Agree? We know you do! It might sound funny now but it’s true. Moms have repeated this line over and over to remind their children a simple truth about money, much more resources: it’s limited, and therefore you need to value it. And it starts with eating what’s on your plate.
PS. And also because… it’s their cooking we’re talking about! IYKWIM
2. When she prepares you baon for school.
Back in your early school days, break time holds a special place in your heart (and stomach!). You might recall your mom preparing your lunch box with your favorite biscuits so you have baon that school day. Sometimes, when your mom’s feeling a lil’ extra, she’ll create a masterpiece out of it too! Have you had one of those cute rice balls?
Looking back, you’ll realize that your mom has her reasons why she didn’t just give you money instead. First, to make your recess happy. And second, to save expenses from buying food you already have. Why spend on something available at home, right? When it comes to saving money, you can count on your mom to be as madiskarte as ever!
3. When she asks you to check the prices at the grocery.
When it comes to grocery shopping, moms know no time. We’re not kidding. They seem to take the phrase “take your time” way too seriously, and stroll the grocery alleys like they would in a park. To their defense, it’s because they spend time comparing products left and right—making sure they get the best deal from a million options. And at times, you would be the designated runner to and fro the cashier to check the prices!
While you might not love the idea of scanning barcodes growing up, you now learn to understand that financial literacy includes finding the best value for your money for every purchase. And for sure, your mom got that right down to the last centavo!
4. When she gives you money when you do a household chore.
It’s not everyday that you find a child overly excited to sweep the floor or wash the dishes. (If you know someone, please let us know. We need help.) Sometimes, it’s you. Most of the time, it’s you… half-heartedly doing it because your mom says she will give you money as a reward. Oh boy does that trick do wonders!
While some might call it borderline *bribing*, your mom knows well to teach you that hard work is an important part of life. Financial literacy isn’t just about saving money, but also about finding ways to earn money with your own abilities. You learned that as a child, and you can thank your mom for it.
5. When she buys you something you like even if it’s expensive.
Many people think that financial literacy is all about saving, saving, saving. Well, partly true. There is also wisdom in knowing that an equal part of the equation includes spending money, too. Specifically, investing on your needs and wants once in a while. After all, it’s all about being wise in your spending.
When your mom got you that expensive jacket you’ve been checking out since forever, it’s not because she just wants to splurge money out of nowhere. It’s because she knew those clothes are a good investment for her child. And look how good and cozy you look in it!
PS. Being thrifty does not mean being stingy.
Financial literacy seems like a big idea to grasp that it feels like only text books and financial advisors are capable of explaining it well. When in reality, your mom has been doing such a great job explaining it in everyday tasks you often take for granted. Who knew you are already financially literate at such a young age? (Thanks, mom!)