Mom Summit and Moms Conference Keynote Speaker | Women’s Organization and Diversity Day Speaker | Inspirational Mom

Money & Career

15 Financial Tips From Working Mom To Working Mom

One of your new Year goals for many of you mamas was to get your finances in order. However, this may not have been going as well as you anticipated. That’s okay! Other moms have your back. So, we asked three expert mom financial advisors for 15 financial tips from working mom to working mom.

15 Financial Tips From Working Mom To Working Mom

Jasmine Tillery

The first mom we asked for some financial tips is Jasmine Tillery, who runs Money & Momming (

Here were her top five financial tips for moms:

  1. Create a budget. A budget is a spending plan, not a restriction plan. By creating a budget and telling each dollar where to go, you will be in control of your money instead of wondering where it went.
  2. Establish an emergency fund. Having an emergency fund takes an emergency and turns it into more of an inconvenience on the financial side. When dealing with real emergencies, the last thing you need is to stress about how you’ll pay for it. If you struggle with savings, start with a goal of $1,000, then work your way up to 1 month of expenses, then three months of expenses, then up to 6 months of expenses in your emergency fund.
  3. Develop a debt payoff plan. If you have debt, create a plan to eliminate it because it prevents you from building wealth. Determine which method works best for you, such as the snowball or avalanche method, and get to work.
  4. Invest as much as you can as early as you can. You can start with your retirement accounts if investing seems too complicated. An employer-provided 401k is excellent, especially if they provide a match. Don’t leave free money on the table.
  5. Give yourself an allowance. Don’t forget to make room to enjoy what you earn. Give yourself some fun money for that new book, a spa day, or a night out with friends. Set a spending limit to keep yourself in check but prioritize taking some for you.

Alithea Stern

The next mom we talked to was Alithea Stern, who you can find She is a mortgage broker at CYR Funding. As a mother of 3, I am well-versed in the art of planning. Planning dinners, grocery lists, birthdays, weekend activities, extra-curricular programs, and the list goes on. There is no end in sight to our “to-do” lists at home. While the day-to-day may take priority, we can’t forget to take the time and plan for our financial future. Our dreams and the dreams we have for our children rely on them.

Here’s what she had to say when we asked for some financial advice:

I have compiled a shortlist with some tips and tricks that can help you get started. You can do things to improve your savings and things you need to know even if you are working with financial professionals.

  1. Make a budget. Track your spending weekly, monthly or yearly, and see where you can cut costs. Even an old-school excel spreadsheet will do the trick. You can’t manage what you can’t measure.
  2. Live within your means. When applying for a mortgage, one of the prominent factors lenders consider is your ratio of debt to income, requiring your total debts (including mortgage payments and property taxes) to be 45% or less of your total provable income. My point: Don’t try to keep up with the Joneses.
  3. Build your credit. Always pay your bills on time. Accept any credit increases that are offered to you, and don’t close unused accounts.
  4. Take advantage of federal programs and tax benefits. Do your research. See link for a list of available programs and tax benefits for parents. 
  5. Put on your breathing mask first. Don’t forget to plan for your retirement along with your child’s university fund. You are just as important, and planning for your future security ensures you will not be a financial burden to your children.

Christian Brown

The last mother we asked for some tips was Christian Brown, who you can visit @mommyandherbudget. You can also hear more from her at

Here were her tips:

  1. Budget! If you don’t already have a budget, make one ASAP! An effective budget is one of the most important tools for your financial wellness. Having a budget allows you to tell your money where to go instead of wondering where it went.
  2. Include a line item for self-care. As a mom, it’s easy to put our self-care at the bottom of our to-do list. This goes for financial “self-care” as well. When I first began my personal finance/debt-freedom journey, I never allocated “fun money” for myself. Included a line item for groceries, for my daughter, for household goods. I literally budgeted for everything and everyone, except myself. I quickly learned that this is not healthy or sustainable. Include a small amount, even if it is just $10 for coffee, for yourself. You deserve it, mama!
  3. Save a 3-6 month emergency fund. Having an emergency fund is essential. Especially in these (dare I say it) “unprecedented times.” If you don’t already have an emergency fund, slowly start building one with any discretionary money you have each month. 3-6 months of living expenses is a great goal. But, remember, anything is better than nothing.
  4. Make a plan to pay down high-interest debt. After you save an emergency fund, prioritize paying off high-interest (or “dangerous”) debt. This might include credit cards, personal loans, etc. Paying interest on these lines of credit can drain your finances, slow your progress, and put a strain on your financial wellbeing.
  5. Begin investing in your future. Once you have an emergency fund and are paying off high-interest debt, it’s time to begin investing for your future. Make sure you first utilize tax-advantaged retirement accounts, such as a 401k (especially if your employer matches) and a Roth IRA. So, if you are financially able, open a 529 or custodial account for your child(ren) to begin investing for their future as well! Suppose you can comfortably do all of these things. In that case, it is time to look at investing in an individual brokerage account (which is excellent for any saving/investing goals outside of retirement).

Hopefully, some of these tips can help you out.

So, they were, after all, 15 financial tips from working mom to working mom! If not, don’t lose hope. Moreover, the resources are endless! Feel free to check out any of the blogs or Instagrams of these mamas for more advice.

Recommended Articles