Mom's Got Money. Catherine Alford

though I didn't go to school for finance, I think the reason my budgeting blog and eventual financial writing business grew is because of how I write about money. I usually include relatable stories in my work, and because I'm not writing from some high‐up place on Wall Street, I think it helps my readers easily understand some money concepts. I hope that's the case for you too.

      My ability to write comes from a lifetime of pursuing writing and reading as my greatest passions. I went to college and graduate school for history because I was captivated by people's stories. I love learning about why humans make the choices they do, which is why the behavioral finance aspect of money is so fascinating to me.

My training as a researcher and historian came in handy when my writing clients assigned me articles about topics like mortgages and investing. Even if I didn't know the answers at first, I knew exactly how to find them. And, it wouldn't be long before I went down a rabbit hole researching the history of various industries and companies.

      The Greek word historia means “inquiry.” I always want to know why. Why are things the way they are? Why do people do what they do? Why are some people paid more than others? Why does money have such an impact? What can we learn from past choices? How can our past money choices empower and inform our future ones?

      Think about it; money is this one singular object that has impacted history probably more than anything else. It's caused wars, death, shaped politics, and impacted populations for a lifetime. Money has also had life‐changing positive impacts on the world through charitable gifts, eradication of disease, and aid.

      But, money is not equal. For centuries, certain sectors of the population—namely women and the Black community—have not had equal opportunities when it comes to banking, homeownership, access to business loans, and investing. The result is not only a wage gap but a wealth gap.

      And yet, I keep seeing seeds of hope. Every day, I meet new members of the financial community working hard to inspire positive change. I see women encouraging other women to speak up, ask for raises, and so many of us are teaching one another what it means to invest and to create generational wealth.

      As a financial educator, I work hard to make the language of money more accessible to all. I want to encourage moms like you to feel like bosses and become a powerful force, so you can fearlessly ask questions about budgeting, salaries, investments, fees, homeownership, and more. The tides are changing, and moms are perfectly prepared to lead the charge and help their families attain financial success.

      At the end of the day, money is just currency. It's just some pieces of paper or numbers on a screen. The money itself means nothing. It's the person holding it who assigns it value and gives it life. You can make a choice when you hold your money in your hands. You can use it to better your family and win or you can stay the same. My goal is to help you be on the winning team. More than that, I want to show you that you, as the mom, are captain of the winning team. You get to use the knowledge in this book to bring the gold medal home.

Some parts of this book will be encouraging and some will be uncomfortable. I'm going to ask you to examine your habits, to think back to childhood lessons about money, and to wonder about the impact of the culture of money we operate within. I'm going to ask you to consider the hard questions. Why do people handle money so differently? Why are some people so disciplined with money and others aren't? Why are some people so generous and others aren't? How has the history of our culture impacted beliefs about money? What can I do to be an ally to others and to help others improve financially too?

      Maybe now you can see why someone with a history background became a financial writer. For me, it's never really been about teaching people how to budget, although that is a part of what I do. It's more about helping people examine their own stories and their past as a way to enlighten them and help them make good choices in the future. It's about helping people face their demons and recognize their own strength to change their money stories. It's about showing moms that they are more than “just” moms, that they hold incredible power. It's about saying I understand. I've been there. Let's grow together.

      So, I hope you don't mind that there won't be complicated calculations in this book. Instead, this book is going to be a mixture of personal finance, personal development, some too‐personal stories of my own journey with money, and hopefully some encouragement along the way. My goal is to walk with you, inspire you, and help you realize that you already possess all the skills necessary to be a boss with your money. You just have to look within yourself to find the answers, and I'll guide you on that path.

      After reading Mom's Got Money, my hope is that you'll:

       Understand your money history and your money mindset.

       Effectively manage your money like a boss.

       Work with your family in a budget meeting, whether your family is a spouse and several kids or just you and your teenager.

       Ensure that you pay all your bills on time every time.

       Think big when it comes to your future and the legacy you want to leave.

       Surround yourself with friends who will be a positive influence on you, your children, and your financial goals.

       Become an ally to other women and help them succeed on their money journey.

       Learn the art and joy of giving and pass on that lesson to your children.

      I will count this book as a success if you connect with just one story in here and it prompts you to take the next step and learn more. My wish is that this book becomes one of many personal finance books on your shelf. The more you read, the more you can craft a personal finance perspective and plan that fits you and your own goals.

      Every financial writer has a unique story and personal experiences to bring to the table, and this is likely the only book you'll find by a historian turned financial writer turned mom and entrepreneur. And maybe that's exactly as it should be, because perhaps I'm meeting you at just the right time. You likely need a friend, someone who is a fellow mom and gets it, to help you along the way. And, hopefully, that person is me.

      My goal is to help you master a few money lessons so you'll start to truly enjoy money. I would love to help you feel in control of your bills, caught up, and with room to spare. I hope to encourage you to advocate for yourself, improve, and most importantly—breathe.

      Eventually, with enough practice, you can become the money boss you were always meant to be, and I'll be right here to help you get there. This is more about mindset than it is about money. And luckily, motherhood has perfectly prepared you to succeed with money. You just didn't know it—until now.

CHAPTER 1 Shifting to a Boss Mindset

      I sat nervously in the waiting room of the student health clinic on my husband's medical school campus. I booked my appointment when my husband had a break between classes so he could be there with me, and I was waiting for him to arrive.

      We were there to confirm that I was, in fact, pregnant. Clearly, the five positive pregnancy tests my Type A self took the days prior were not enough for me. I needed answers. Facts.

      My husband arrived, and we were led to a small, freezing room where the ultrasound tech was waiting for us. The tech wasn't a man of many words. He hardly greeted us except to tell me to lie down on the cold table so we could start the ultrasound. I shifted nervously, the paper crinkling beneath me, the silence deafening.

      There we were, two hopeful (possibly?) new parents, and the tech wasn't speaking as he worked. Doesn't he want to ask me any questions? Doesn't he at least want to talk about the weather? I glanced at my husband. He didn't seem to mind the complete silence. He was watching the screen intently, so I thought I should probably do the same.

      I looked over at the blobs squinting, trying to make out something, anything. I waited.

It felt like an eternity before tech spoke. Really, it was likely only a few minutes. But, the