The Mothers of Investment
Copylab mothers, we salute you. So, in honour of Mother’s Day, we’ve put together all the best pearls of financial wisdom handed down to us from our mothers – and even our grandmothers.
Now, if only we could follow them…
Start contributing to your pension when you’re young.
Clear your debts as fast as possible. And if you can’t, pay your bills on time – a good credit score is one of the most important freedoms.
Buy land – they’re not making any more of it.
Neither a borrower nor a lender be.
Don’t put it off, buy it today; it’s only going to get more expensive.
Always have an emergency fund, preferably one that, if you were to lose your job, would keep you afloat for at least six months.
Save 10–15% of your income and pay yourself first.
Always find a high-interest account – let your money make money.
Don’t let your father near the deli counter – you could use that money for sweets.
Understand money – don’t count on the man in your life to handle the finances.
Good thing no cheap; cheap thing no good.
Start saving early.
Never use credit cards. If you don’t have the money, you can’t have it – unless it’s a house with a sensible mortgage.
Invest in property and shares.
Invest in good art, too, so you can enjoy it while it increases in value.
A handbag is NOT an investment.
Earn your own money. Never rely on anyone for financial support, or on Prince Charming showing up.
No matter how tight things are, never borrow from a payday lender.
Damn good face cream is an investment in the future – put it on your neck as well.
Look after your teeth, otherwise they’re going to cost you a lot of money.
Don’t share a bank account. Ever.
You can’t take it with you, so you might as well enjoy it.