Wisdom from Mom: Financial Lessons That Last a Lifetime

At Mercer Advisors, we exist so that our clients don’t have to worry about money. That dedication comes in part from the financial lessons we learned from our mothers, grandmothers, and other women who made a meaningful impact on our lives.

In celebration of Mother’s Day, we asked members of the Mercer Advisors team to share the most valuable financial lessons they learned. These heartfelt reflections are more than memories. They’re reminders of the wisdom that helps shape financial confidence, decision-making, and lasting security.

Read on for stories that reflect the heart of how we help families amplify and simplify their financial lives.

Make partnership a priority 

“Growing up, the one piece of solid financial advice my mother gave me wasn’t about budgeting, investing, or chasing the highest-paying career. It was about partnership: make sure the person you choose to spend your life with is financially aligned with you. She stressed the importance of speaking openly about money, goals, and the future before a long-term commitment.

At the time, it seemed simple enough. But as I’ve gotten older, I’ve realized how profound that advice was. Money is one of the leading causes of tension and conflict in relationships. Differences in spending habits, saving priorities, and financial ambitions can quietly erode trust and create resentment. But when both partners are transparent about their financial situations, dreams, and fears, it builds a strong foundation for wealth and a lasting partnership.”

• • Anna Apodaca, CFP®, CDFA®
    Wealth Advisor, Director

Lead with generosity

“One of the most important lessons my mom taught me was the power of giving and saving, and making them both priorities, no matter the circumstances. Even when money was tight, giving to our church was a priority. My mother showed me that generosity wasn’t just something you did when you had extra, it’s something you lead with. At the same time, she modeled the discipline of saving, teaching me that preparing for the future was an act of stewardship. Those simple habits shaped how I think about money and continue to guide my approach to finances, family, and life.”

• • Laura Combs, CFP®, MBA
    Executive Managing Director

Financial discipline today helps create economic freedom tomorrow

“My mom is very frugal and always taught us to look for bargains and to use coupons. It felt so embarrassing watching the cashier scan a bunch of coupons. But as an adult, I see the value in saving and how it can add up over time.”

• • Bryan Strike, MS, MTx, CFA, CFP®, CPA, PFS, CIPM, RICP®
    Director, Financial Planning

Save for a rainy day

“I grew up as the youngest of six kids, and my parents were plain, hardworking folks. As you can imagine, most of my clothes were hand-me-downs from my older sisters. I didn’t mind that until adolescence, when looking cool felt more important than life itself. Back then, ‘cool’ meant Jordache jeans. But their $38 price tag was a problem for my mom and dad.

After getting tired of my begging, my mom said, ‘If you cut down the blackberry bushes in the back yard and build the rock wall fence, I’ll pay you a dollar an hour. Then you can earn enough to buy the jeans with your own money.’

Let me tell you those tasks were no picnic, but I stuck with it, dreaming of Jordache jeans. When I had accumulated 38 hours, I asked to be paid.

‘Okay,’ she said, ‘but before you spend all your money on those jeans, you need to save another $38.’ She called it my ‘rainy day fund.’

Groaning, I went to work, doing every odd job I could find around our house and the neighborhood. When I finally earned my rainy day fund, Mom and I went shopping.

I don’t think any purchase I’ve made after that has felt as good as buying that first pair of Jordache jeans. My mom taught me two financial lessons I’ve never forgotten: Hard work equals choice, and you should always have a stash of cash for a rainy day.”

• • Kimberly Foss, CFP®, CPWA®
    Sr. Wealth Advisor

Align your spending with your values

“Growing up on a farm in rural Minnesota, money was a bit tight for our family. I remember my mom always focused on making a dollar go further, but more importantly, she made sure our spending aligned with our values of family, adventure, and play. So, my parents prioritized buying a pop-up camper for trips to local camping grounds. It wasn’t the Ritz-Carlton, but it aligned with our values and made us feel RICH.”

• • David Kerber, CFP^®, ABFP^®, MPAS^®
    Sr. Wealth Advisor, Sr. Director

True riches aren’t always measured in dollars

“My mother taught me to work hard for the things I want in life, but she also showed me that money isn’t everything. Money comes and goes, but the memories we create, the laughter we share, and the love we give are what last. Looking back, it’s not the things money bought that stayed with me, but the moments we shared that became the treasures of my heart.”

• • Danielle Frazier, CFP®
    Sr. Manager, Client Service

Put your money to work instead of working for your money

“Perhaps the most impactful lesson my mom taught me was the power of investing. Despite our modest means, she always found ways to save and invest for the future. She believed that money should work hard for you, not the other way around. Whether through small savings accounts, community investment opportunities, or more formal investment vehicles, my mother demonstrated that even small amounts can grow significantly over time. Her foresight and discipline in investing have inspired me to take control of my financial future and seek growth opportunities.”

• • Fanny Guo, CFP®
    Sr. Wealth Advisor

Opportunities don’t always knock, sometimes you have to look for them

“My grandmother once traveled to a neighboring state to buy five trucks equipped with automatic lifts, which were relatively new at the time.  After the purchase, she thought it would be a waste to drive them home empty.  So, she scanned the local paper, found a few estate sales, and filled all five trucks with furniture. When she got home, she opened an antique store.  She taught me to always keep my eyes open for unexpected opportunities, they’re often hiding in plain sight.”

• • Merrick Estes
    Sr. Vice President 

Think before you spend

“My mother was impacted by the Great Depression and its effect on her family’s finances, and she is still very frugal. One of the best things she taught me was financial self-control. Before I buy something, I wait a few days before making the purchase. Often, I feel very differently about it after the time has passed, and I realize I don’t want it as much as I thought I did. It has saved me lots of money on impulse purchases!”

• • Jeannette Jones, CFP®
    Sr. Wealth Advisor, Director

Lift others as you rise

“One of the most important life lessons my mom taught me is to give from your abundance. In other words, to spread the wealth. She is deeply intentional about volunteering, charitable giving, and supports organizations she believes make the world a better place. Whether donating to animal shelters, hunger relief organizations, or the Salvation Army, this generosity helps strengthen the community while bringing a sense of personal fulfillment. This life lesson was instilled in my mother by her mother and has become a cornerstone of my upbringing as well.”

• • Korina Kaio-Maddox
    Manager, Client Service

If you are not a client and would like to learn how Mercer Advisors can help amplify and simplify your financial life, let’s talk.

Mercer Advisors Inc. is a parent company of Mercer Global Advisors Inc. and is not involved with investment services. Mercer Global Advisors Inc. (“Mercer Advisors”) is registered as an investment advisor with the SEC. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements.

All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change. Some of the research and ratings shown in this presentation come from third parties that are not affiliated with Mercer Advisors. For financial planning advice specific to your circumstances, talk to a qualified professional at Mercer Advisors.

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER® certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

The CDFA® and Certified Divorce Financial Analyst marks are the property of the Institute for Divorce Financial Analysts, which reserve sole rights to their use, and are used by permission.