Money lessons from Britannica moms

Editor’s note: This article first appeared in Money Matters, a newsletter from Britannica Money, on May 10, 2026.

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Tips from Mom can take you a long way.

© deagreez /stock.adobe.com; Photo illustration Encyclopædia Britannica, Inc.

Twice a week, David and I have been dropping into your inbox to talk about money, markets, and the decisions that shape our financial lives. For Mother’s Day, however, we thought we’d do something a little different.

Because many of our earliest money habits are formed during our childhoods and young adult lives, what better way to honor and celebrate family than by turning the column over to Britannica moms? 

“Pay yourself first, and let the magic of compounding do its thing.”

—Tracy Grant, senior editor for Britannica (and former editor in chief), mother of adult children

Compounding—getting interest on your interest and returns on the returns generated by your investments—has been called the “eighth wonder of the world.” And the earlier you start, the more powerful it can be. For example, under the 50-30-20 rule, “pay yourself first” means setting aside your 20% for savings, investing, and paying down outstanding debt before you spend on anything else.

Although it can be a challenge when you’re first starting out, if paying yourself first is a target (and your overriding philosophy), it gives compounding more time to work—instead of waiting for “extra” money that may never show up. 

“Money shouldn’t be an obsession—but it does need care. And what you earn only really matters if you’re happy with the work behind it.”

—Alison Kendall, visual media editor for Britannica, mother of two children in their mid-20s

If you’re doing something you care about—or at least respect—you’re more willing to make the trade-offs that come with it. Financial budgeting is really just one piece of a broader “life budget.” Time, energy, and attention all factor in. If your work lines up with what matters to you, you’re more likely to make intentional choices with your money—whether that means spending a little more in some areas, cutting back in others, or simply feeling more in control of where it all goes.

“It’s never too early to start saving for your child’s education.”

—Jennifer Agee, copy and production editor for Britannica Money, mother of a tween

Although Jennifer didn’t exactly open a 529 college savings plan on her way home from the hospital with her daughter, she says: “It was pretty close.”

A 529 is perhaps the most flexible way to start saving early for education. Contributions grow tax free, and withdrawals are generally tax free when used for qualified education expenses—college, and even some K–12 costs. Many states offer additional tax breaks, and the accounts are easy to set up and manage. They also open the door for grandparents or other family members to contribute, turning saving for education into more of a shared effort than a solo one. And with student loan debt still weighing on millions of Americans, that early start can help ease the burden down the road.

“Make it easier to put money into savings than to take it out.”

—Teagan Wolter, associate editor of anthropology and perhaps our newest Britannica mom, with a son who just turned two

As a kid, Teagan would hand money to her dad, who would deposit it into her savings account—back when moving money took a little more effort. That extra step mattered, as it created a small barrier to spending and made saving the default. Today’s tools—including remote deposits and peer-to-peer payment systems like Venmo—make moving money easier than ever, but the principle still holds: When saving is automatic and spending requires a pause, the balance tends to build on its own.

Teagan plans to begin with the venerable piggy bank, with its easy-in slot and lock-protected door. “The trick right now,” she says, “is to stop him from eating the quarters.”

“For every good or service you buy, there’s a big difference between its price and its value. Prices are set by the market, but value is set by you.”

—Nancy Ashburn, tax and accounting professional, Britannica Money contributor, and mother of two adult children

Nancy recounts a story from when our daughter was in second grade. She really wanted a $90 brand-name fleece coat. However, a similar fleece was on sale at Kohl’s for $21. After seeing the side-by-side comparison, and learning that the brand-name coat would count as a “major” holiday gift—whereas the lower-priced one would come out of our family’s clothing budget—our daughter was able to assess the true cost of peer acceptance (so, really, it was two lessons in one). Her actual words were, “Why is it so much more money? Are there shoulder massagers in it?”

But there’s also a difference between being value-conscious and being cheap. Nancy will occasionally buy a mid-range designer handbag. It not only brings her joy, but it’s also much more durable than a knock-off or budget model, and it has value in the resale market. 

Price vs. value: It’s a simple distinction, but one that tends to stick. Prices are easy to see. Value takes a little more thought—and a little more honesty. But it’s often the difference between spending money frivolously and using it well.

Happy Mother’s Day from Britannica Money!