MOMS EVERYWHERE SHARE their wisdom with their kids every day—and many of those lessons are financial. It was probably Ben Franklin's mom, after all, who taught him that "a penny saved is a penny earned."
In this video, Michael Liersch, head of behavioral finance and goals-based consulting for Merrill Lynch Wealth Management, asked people to share the best financial tips they picked up from their moms. Do any of them sound familiar? Tweet @MerrillLynch to share your mom's best advice, using the hashtag #momsknowbest.
For more advice and resources on teaching kids about money, visit BetterMoneyHabits.com.*
3 Questions to Ask Your Advisor
- What are some good resources I can use to teach my kids the financial basics?
- My daughter is just starting out in her first job. Could you give her some tips on how to plan for her future, financially?
- Would sitting in on our next meeting be a good learning experience for my teen?
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