The EconoMs

One woman, a full life, and the pursuit of financial freedom

Rich Mom, Poor Mom: Mothers’ Day reflections on raising financially savvy kids

AfricanMum

Happy Mothers’ Day! When I reflect on my parenting conversations with other mothers, we talk frequently about managing our children’s behavior, educating them, instilling good habits and keeping them safe, but rarely do we talk about raising financially literate and astute children. I think this is mostly due to the fact that many women – […]

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How I saved 50% today by asking a simple question

askquestion

I was reminded today about the importance of asking for a discount whenever possible. Years ago when I was a college intern, I shadowed a very wealthy businessman for a few weeks, who made it his mission to never pay the asking price for anything. Everywhere he went, he would ask, “Is this the best […]

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3 Tips to Avoid Overpaying Your Small Business Taxes

taxform

Corporate taxes were due today! For the first time since I’ve been a family woman, I finished both business and personal tax returns well ahead of the deadlines. Does this mean that I am growing up? I seriously doubt it. In any case, the corporate tax deadline made me think about how I have overpaid […]

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What does financial freedom mean to you?

balloon

One of the more technical definitions of financial freedom is that you generate enough money from your assets (sources mostly outside of your own labor – aka passive income) to meet your needs. This generally means generating income through assets such as stocks, real estate or a business where you generate income through the work […]

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Clothing shopping for less

tshirt

I despise shopping and have had the same clothes forever. Then along come the children, and they need new clothing all the time because they grow so freakin’ fast. Who knew? My attempts to keep the clothing budget to an absolute minimum include seasonal shopping lists and a constant search for sources of quality clothing […]

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Get started investing (it isn’t rocket science)

yellowpiggy

Immediately after I landed my first job after college, my father would ask me almost every time he called, “Have you started investing yet?” “But daddy,” I would whine, “I’ve just started making money. I am just getting used to paying the rent on my apartment. I still have so many things to pay for […]

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Personal finance resolutions for the new year

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I have spent most of this month reflecting on the prior financial year and thinking about my financial goals for the year ahead. As a business strategist by trade, goal-setting is my thing. I have always found that the goal itself is the smallest part of goal-setting. After all, most of us know WHAT we […]

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My 2013: A Personal Finance Retrospective

Calendar2013

Happy New Year! Last year, my New Year’s resolution was to reconnect with my finances. In fact, I started this blog to help me to do exactly that. Looking back now, I realize I was largely successful in that goal. (I have to admit that I could have done a better job of sharing more […]

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Shopping purposefully: Kids’ fall/winter clothing wardrobe

Kids outside

I am a firm believer in the saying, “There is no such thing as bad weather, only the wrong clothes.” I also feel strongly that all behavior management (not just the kids’ behavior, but mine as well!) starts with good nutrition, good sleep and lots of outdoor time. So as the temperatures drop, I try […]

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4 financial to-dos for single mothers

Mother with Son

A good friend and single mother recently asked me for some financial advice. It got me thinking about the unique situation of single mothers. I think a lot of the financial must-dos are the same for all parents, but they are even more critical for single parents who consistently have to stretch dollars more, and […]

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