Money lessons gifted from mother to daughter

In celebration of Mother's Day, we’ve asked four incredible female leaders to share their money lessons, advice, tips, and tricks they’ve learned from their mums and the impact on their lives. The wisdom abounds!

“There’s a reason some people think they can achieve anything. They listened to their mother.”

Mother’s Day. It’s a day to pause and truly  acknowledge our mums. It’s a time to reflect on the sacrifices they have made for us. It’s a time to say thank you for all they have done. And it’s a celebration of who they are, and their impact on our lives.

How your mum has shaped your financial behaviours

Did you know that our childhood experiences  influence our money habits and behaviours – even now? Yep, the emotions, feelings, conversations and experiences you had in your formative years have undoubtedly affected the way you perceive and manage your money. We call this your money story.

The fact is, each one of us has internalised many of our parents’ attitudes, traits and behaviours when it comes to money (some  resourceful, some not!) – and these lessons are often deep-seated.

So, have a think about your own childhood… how has  your mum influenced your money habits and relationship with money? Did she proactively  pass down any money advice or did you learn from observation? Did you see her  manage money well or avoid money? Was she a saver (and investor) or a spender?  How did your mum talk about money?

FOUR leaders. FOUR mums supporting them. Their gems of wisdom

So, in celebration of our mum’s, we’ve asked four  incredible female leaders to share their money lessons, advice, tips and  tricks that they’ve learnt from their mums. The wisdom abounds!


Katrina Webb OAM, Australian sporting  legend
Director, Newday Leadership & Silver 2 Gold

Katrina Webb OAM


What is the best or most memorable financial  advice/money tip your mum ever gave you?


“My  mother grew up on a farm and from this experience she is very good at repurposing  and only buying new when necessary. This has definitely influenced me as I am  very thoughtful before spending money. I like to buy quality items that will  last.”


OUR TIP: Think about your purchases carefully – we call this  conscious  spending.

How has your mum impacted your financial decisions,  money management, or life in general?

My mother taught me that money does not equal happiness. Human connection and strong relationships are the key to contentment and fulfilment in life. She taught me to be incredibly generous with fostering human connection, and to this day, I do"

OUR TIP: Realise money has no meaning other than the one we  give it. What makes you happy? What makes your heart sing? How can you use  your money to do more of that!

My mother taught me that money does not equal happiness. Human connection and strong relationships are the key to contentment and fulfilment in life. She taught me to be incredibly generous with fostering human connection, and to this day, I do"


Sonia Bestulic

Founding  Director of Talking Heads Speech  Pathology

Podcaster of Chatabout Children with Sonia Bestulic

Multi-Award  Nominated Author


Sonia Bestulic


What is one piece of advice or pearl of financial wisdom, you'd like  to pass down to your children or a young person in your life?


“The philosophy I’d like my children to embrace is…
Save most.
Spend some.
Contribute to causes you care for.”


OUR TIP: There is extensive research to suggest that giving is good for our wellbeing. People who give often feel greater satisfaction and happiness in life. So, get giving today!


What would you like to thank or acknowledge your mum for?

“Being an inspirational role model. My mum was determined to invest  time in independently learning how to best manage her money, whilst also adapting to, and learning a new way of life in a new country (not to mention self-learning the English language – wow!)”



Tory Archbold

Founder  and Director of Powerful Steps

Tory Archbold

What is the best or most memorable financial advice/money tip your mum  ever gave you?
“When I started my first business Torstar in  my 20s, I landed a high-profile retailer as a first client. Having always  been paid on a monthly basis in previous full-time roles, I was not prepared  for the fact they didn’t pay within the month. It took them over 90 days and  as a small business starting out that was tough. I still had rent to pay on a  flat I had leased, petrol to purchase to drive to and from client meetings  and of course I had to eat. When the cheque finally arrived, my mum told me  to photocopy it as a reminder that not everyone will honour your payment  terms and cash flow is king. I often think of that life lesson and it served  me well.”

OUR TIP:  Create your ‘contingency’ bank balance which  has 3-6 months of your monthly expenses, so you have a financial safety net.

What is one piece of advice or pearl of financial wisdom, you'd like to pass down to your daughter?

“Believe in your talents and take risks.  Learn from the life lessons you are given, make them once, and don’t repeat them.

My daughter grew up experiencing what it’s like to be at the top of your game, yet she also experienced the financial challenges I sometimes faced juggling it all - because let’s face it, life can be a juggle.  

I took a financial risk a few years ago and downsized my business to  focus on securing our personal freedom and then gave up a great business to start again with Powerful Steps. In terms of cash flow this was hero to zero.  I always knew I could build another global business that would empower others and she was right by my side encouraging me to do it.

I like to think because of these shared experiences she is capable of achieving anything she wants in this lifetime.”

OUR TIP: Tory – what an empowering lesson! This is leadership at its best. We do however, know not every daughter will be so fortunate to receive messages like this and often poverty-based or negative money messages are passed from generation to generation. For our readers, if you want to better understand your own ‘money story’ you can learn more here. Your story can be re-written.



Sangeeta Venkatesan

Chairmain & Co-Founder of FairVine Super Fund

Sangeeta Venkatesan

What is the best or most memorable financial  advice/money tip your mum ever gave you?

“My mum is extremely conservative with her money.  She never worked or earned money, although I always observed how structured  and careful she was with her budgeting and spending habits. So, whilst she  never sat down with me to discuss financial planning or give me tips on how to manage my money, what I observed with her as a child has stayed with me.”

OUR TIP: A budget is one of  the most important financial tools at your disposal. Get started by checking out our budget calculator and money planner to better understand your financial position.

What is one piece of advice or pearl of financial  wisdom, you'd like to pass down to your daughter?


As a child I constantly heard about saving and living within my means, and how debt is a very bad thing. Overall, my upbringing in terms of money was conservative and limited. As a result, I struggled with investment decisions throughout my 20s and early 30s despite having a career in financial services.

Today, I have a diversified investment portfolio, some funded with equity and some with debt, and this has made me realise about the significant gap in my financial education as a child and how that influenced me for such a long time.

I would like my daughter to be open minded and brave about investing. Taking calculated risks and planning long-term goes a long way in ensuring financial security and stability in the future.”

OUR TIP: Sangeeta, we couldn’t agree more! Our philosophy is  ‘if you can shop for shoes, you can shop for shares!’ Ladies, don’t be shy. Learn about the basics of investing - your future-self will thank you.  


Now it’s your turn!

Did you notice each woman had different money messages growing up? They've helped shaped the women they are today.

What gems of wisdom has your mum passed down, and how has this impacted your financial success?

Got something? Why not tell your mum how she has impacted your life for the  better. It will make her day!




Karen Eley is a financial coach with more than 20 years’ experience as a financial adviser. Through her business, Women Talking Finance, she helps women to be confident and knowledgeable about all things finance. Karen translates complex financial concepts into simple digestible ideas.

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