05.09.2025 By Amelia Simons

Behind the Budget: Moms, Caregivers, and Financial Stress

Being a mom in today’s world can feel like walking a tightrope, with a wallet in one hand and the weight of everyone’s expectations in the other.

 

From navigating the rising costs of child care and housing to feeling the pressure to “do it all” while maintaining financial stability, moms and mother figures are often the backbone of family finances.

Whether they’re budgeting for back-to-school supplies, saving for their child’s future, or simply stretching a paycheck to make it through the week, mothers face a complex mix of emotional and financial labor, much of it unseen.

And yet, through all of this, many of us carry the financial wisdom of the women who raised us.

This Mother’s Day, we’re celebrating the role that mothers, grandmothers, and caregivers play in shaping our values around money.

We asked a few members of the Consumer Federation of America Team to reflect on the best savings advice they received from the women who raised them, and how it still shows up in their lives today.

  • “While looking at colleges, my mom coached me through the financial aid process and encouraged me to look at schools that would allow me to graduate with less student loan debt. Twelve years later, I’m still paying off that debt and hoping Public Student Loan Forgiveness doesn’t get eliminated before my loans are forgiven next year. I’m so glad she educated me on loans, I could have graduated with much higher debt! Her coaching also helped me make better decisions when buying a car and saving for a home.”
  • “Two pieces of advice from my grandmother stuck with me: Live within your means, and save a little bit every month in an emergency fund. When I got my first paycheck, she made sure I put $50 from each check into savings, and I’m glad I listened. She also warned me: don’t sign anything unless you take the time to read and understand the contract. That one saved me more than once!”
  • “My grandmother taught me that you always save leftovers. Wasting food was not an option. And my mom? She made it clear that you never need to buy a brand-new car, and that it’s okay not to keep up with the Joneses. Don’t worry about what other people think of your things. That mindset gave me freedom.”
  • “I know my grandmother didn’t invent this saying, but I’ll never forget her voice telling me: ‘A penny saved is a penny earned.’ It’s classic for a reason.”

As we honor mothers and caregivers on Mother's Day, let’s also extend them the gift of grace. The truth is, financial stress is common, and moms often carry that weight silently. From managing student loan debt to supporting adult children, or even caregiving for aging parents, the financial journey of motherhood is lifelong and layered.

If you’re a mom feeling stretched, stressed, or unsure how to start saving for what matters most, you’re not alone. And you don’t have to do it perfectly.

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America Saves is here to help you take small, doable steps toward your savings goals. Whether that’s building an emergency fund, navigating debt, or saving for your children’s future. If you haven’t already, take the America Saves Pledge and let us support you with tips, tools, and resources that meet you where you are.

To all the mothers and mother figures: thank you for your strength, your sacrifices, and your savings wisdom. We see you. We celebrate you. Happy Mother’s Day. 

Do you want to share your own story about financial advice from your caregiver? Submit your story here. 

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