Never Buy Anything Full Priced (If You Can)If there is a coupon or sale, my mother knows about it. I swear this woman never buys anything full price. Seeing her save just by waiting or comparing prices, helps me to limit my impulsive buying and stay more aware of my spending.
Know Where Your Money IsFrom early on, my mother put an emphasis on teaching my brother and I about finances. Every time we got a check for our birthday, she took us into the bank and let us make the deposit. We often sat together and reviewed our statements; she wanted us to know where our money was and the value of saving.
Credit Cards Aren’t EvilCredit cards never had a negative stigma in my household as they often in society. My mother has always believed that credit cards can work for you but, only if you let them. I learned early on that credit cards should be used to purchase things that you can afford and plan to pay off quickly.
Learn to Balance a CheckbookOne lesson that my mother made sure was never lost on me, was how to balance a checkbook. The skill may not be seen as valuable now with mobile banking logging your every transaction instantly, but it helped me to understand the flow and balance of money in a household.
Splurge SometimesThere are sometimes when higher costs really do mean higher quality. The ability to tell the difference is another skill my mother instilled. If a more expensive product provided additional value or would last significantly longer than a cheaper alternative, it is worth it to splurge.
Time is MoneyThough she is a frugal woman, my mother taught me that time really is money. There are some things (like butter or clothing) that you could make on your own but if you don’t enjoy it and it would fill a great deal of your time, just buy it. Your time is often more valuable.
Bank Your Way
Trouble viewing our website? Call us at 800.664.3828
Michigan First Credit Union © Copyright 2018. All Rights Reserved.
27000 Evergreen Road Lathrup Village, MI 48076
NMLS Number: 493687
Federally Insured up to $250,000 by the National Credit Union Administration (NCUA),
a U.S. Government Agency. Excess Share Insurance up to $250,000