Finance Professionals Share Lessons On Motherhood And Money Management
In many families, the first financial managers we encounter are our mothers. They teach us how to budget, how to be frugal, and the value of saving and investing.
It’s a role that Team Leader and Head of the Conveyance Department at JCS Caribbean Law, Sonji Pierre Chase, and the President of the Trinidad and Tobago Chamber of Industry and Commerce, Karen Yip Chuck, know all too well.
Using their experiences as mothers who are also finance professionals, they shared their knowledge and experience of navigating the two roles.
Mrs. Pierre-Chase said, « For young mums, or young adults who are starting off as professionals, I would strongly advise the very first thing you do when you get your job is to put a standing order on your account and set aside, if it’s just a couple hundred dollars a month, to go into some investment programme, investment account that you don’t touch. You don’t even remember that it’s there and then before you know it, you have accumulated a lovely nest egg that can help you out in the future. »
Mrs. Yip Chuck, who confirmed that her first financial advisor was her mother, explained how, through her mother’s persistence, she instilled financial prudence that set her up for life.
« My mum used to work in the bank, so my mum would have opened bank accounts for us, and from the little allowance that we got, we were encouraged to save. I wouldn’t count that as really towards your nest egg because as a child you probably used that out at some point in time. But what that did, by my mum exposing us to saving from very early, gave us that discipline about the importance of saving. »
Mrs. Pierre Chase and Mrs. Yip Chuck were guests on BATT’s online show, Straight Off the BATT, on Thursday.
