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4 Stories About Money-Savvy Moms That Will Warm Your Heart

Written by
Samantha Rose
Samantha Rose is a personal finance writer covering financial literacy for OppU. Her work focuses on providing hands-on resources for high school and college-age students in addition to their parents and educators.
Read time: 3 min
Updated on July 27, 2023
money-savvy mom holding her young son
Behind every girl boss... is a mom.

This Mother’s Day, let’s celebrate the women raising money-confident daughters.

These moms have acted as coaches, role models, and fans. Through words and deeds, they’ve proven that personal finance isn’t just for the boys. They’ve inspired their daughters to follow their dreams: CEO, entrepreneur, breadwinner.

We spoke with four women about their most memorable lessons from Mom. We asked for the advice they still turn to, for the encouragement that still gives them strength.

Here are the stories they shared.

No. 1: The million-dollar call

When Kari Lorz was 10 years old, her mother taught her an important lesson about investing. With Lorz next to her, she dialed her investment account and put the phone on speaker. Lorz listened as a message read the total value of the account.

It surpassed $1 million.

An investor who preferred steady stocks, Lorz’s mother said she had waited a long time to reach that number. And it paid off.

At the time, Lorz assumed everyone had a mom who talked to their CFP every week. It wasn’t until later she discovered this sadly wasn’t true.

“So many women haven't had the opportunity or training to invest with confidence,” she said.

Inspired by her mother, Lorz went on to create Money for the Mamas, a personal finance site that specializes in financial education for mothers.

“So hopefully, one day, they too can hear their own automated message saying that they are a millionaire!” she said.

No. 2: The original girl boss

Every successful entrepreneur started somewhere. But the truth is success in business often starts with a role model.

Nicole Middendorf, the CEO of Prosperwell Financial, found a role model in her mother, who owned a cosmetology business.

“I can remember sitting on the floor playing while she worked and I wanted to be just like her and run my own business — which I do!” Middendorf said.

Now Middendorf instills the same lesson in her children. Anything is possible with dedication and hard work.

No. 3: The mason jar budget

Suchot Sunday, the owner of The Curious Frugal, recalled the example her mother set for frugal living. Her mother relied on budgeting — but with mason jars.

“My mom used mason jars before they were trendy,” Sunday said. “Mason jars are where she and my father kept cash to use as their version of the cash envelope system.”

The cash envelope system is a method of budgeting. The idea is that money is withdrawn each month from a paycheck and placed into envelopes. Each envelope is labeled with a different expense, such as groceries or entertainment. In this case, Sunday’s mother used mason jars.

“The advantage of mason jars over envelopes is they are transparent — you immediately see how much money is there so there are fewer surprises at the end of the week,” Sunday said.

A weekly allowance empowered her mother to achieve financial goals. She weathered economic downturns, job losses, and paid off the mortgage early.

Sunday and her husband continue the tradition of frugal living. In fact, they plan to pay off their mortgage soon and become debt free.

No. 4: The coupon-cutting hero

Stacie Heaps, the creator of Families for Financial Freedom, said her mother is one of her heroes. She never sat Heaps down for a lesson, but she modeled sound financial decision-making to her and her nine siblings day after day.

Heaps recalled how her mother never wore designer clothes, instead preferring to shop from budget-friendly or secondhand stores. Her mother also cooked from scratch, drove a used car, and scoured discounts and coupons.

“My mother is an angel in many ways, and the way that she sacrificed herself in order to help make ends meet while allowing us children to participate in sports and other school activities, music lessons, and so on, is inspiring to me,” Heaps said.

As a mother of three, Heaps now passes on the lessons she learned from her mother to her children. She stresses that money is finite, and because of this, it’s important to spend wisely.

Bottom line

Moms are financial educators, cheerleaders, heroes, and role models. Seriously — what can’t they do? Happy Mother’s Day!

Article contributors

Stacie Heaps is a financial expert and personal and family finance writer. Heaps has written personal finance books and also blogs at Families for Financial Freedom, where she works to help families earn more, spend less, save more, and invest more so that they can work toward financial freedom. She and her husband have three children and have paid off over $260,000 in debt.

Kari Lorz

Kari Lorz is the head mama money nerd at Money for the Mamas. With an MBA, and passion for helping her peers, Lorz left 20 years of corporate customer service and launched into an online platform dedicated to helping women. As a mom, Lorz knows about all the worries that come along with motherhood. She helps mamas learn about all things money and personal finance, so they can execute money management strategies to make a secure future for their families.

Nicole Middendorf is the CEO of Prosperwell Financial. Middendorf left Morgan Stanley in 2003 to run her own wealth management firm. She is the author of five books, a world traveler, an accomplished public speaker and most importantly, the mother of two. As a wealth advisor and Certified Divorce Financial Analyst, her main focus is to help people create wealth from the inside out. She is able to accomplish this through one-on-one client meetings, writing books, presenting at conferences, and appearing on TV, radio, and other media.

Suchot Sunday

Suchot Sunday is the owner of The Curious Frugal, a site that helps moms learn money management, smart tips to save money, and increase income with side hustles. Formerly of Suchot’s Kitchen, Sunday has a B.S. from McGill University and has been featured in Rockstar Finance, Believe in a Budget, and is upcoming in USA Today.

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