Money Management Advice from Mom

My mom was the first person who taught me about managing money. She gave me three butter dishes, and taught me that whenever I received money, I should divide it between those three containers. The first was labeled "God." The second was labeled "Save". The third was labeled "Spend."

On the flip side, last night I met a man who reminded me that most Americans are one paycheck away from being homeless. Why is this? I think it's pretty simple: most people were never taught how to manage money. I am very thankful that my mom made it a priority to teach me while I was young.

Here's a good article from Bankrate on the role that Mom's have played in teaching sound money management principals. Here are a few of the topics:

• Don't get a tax refund
• Save and invest your money
• Live within your means
• Save some money for a rainy day