Today’s blog was written for you by one of our very first Camp Millionaire Coaches, Patricia Davis. Enjoy…

As I travel the country teaching financial seminars, I often am reminded of my Mother, Mimi, who was the very first person who taught me the rules of the game of money and how to play it to win.  In my recently published book, Mimi, Money and Me: 101 Realities About Money Daddy Never Taught Me But Mama Always Knew, I have chronicled many of her teachings about money and life, along with some of the mistakes, myths and misunderstandings I have heard from students in my classes.

A few months ago, I was asked by the director of a local non-profit to conduct a day long financial seminar for a group of highly motivated teens ages 14 to 17.  While they were indeed good students and much more interested in understanding the rules of the game of money than are many teens, still there was a lot they just didn’t know about money—things nobody had ever taught them.

One of the day’s highlights took place when we spent several hours playing Creative Wealth International’s “The Money Game.”  I combined the rules of The Money Game with several of Mimi’s teachings discussed in my book to add a healthy dose of “grandmotherly” advice and warnings.  The game’s lessons about budgeting, living within one’s means, and saving all were taken to heart and fairly easily understood.  As we went through the various rounds, it was Mimi’s strict rules (the ones I grew up with) that caused them pause.

At one point, during the discussion about the jars and always putting money away for tomorrow, one young lady asked, “Why should I save?  I might die!”  I replied, “You just might live!  Plus, you have to be able to take care of yourself as well as your own needs and wants.”

Since they each had been given a copy of my book in advance, they had read many of the “Mimi-isms” I have strategically placed at the beginning of each of the book’s seven chapters.  Three of them, along with a true story, helped me make the case for having the responsibility to look after oneself.  “Every tub has got to stand on its own bottom;” “Learn to paddle your own canoe;” and “God bless the child that’s got his own” are all sayings I heard as far back as I can remember.  As we grew older, Mimi still held fast to her beliefs about money and responsibility.  The short exchange below makes the point.

One evening after work, I stopped by her house for a brief visit.  (By then, she lived alone—my father had passed and all five children were grown and out on their own.)  She asked where I was going when I left her house and I replied that I needed to go to the grocery store before going home.  Then, the conversation went like this:

Mimi:  “What are you going to the store for?”

Patricia:   ”I need a chicken.  Mother, do you have any chickens in your freezer?”

Mimi:  “Of course I do. I always have chickens.  I have nine of them.”

Patricia:  “May I have one?”

Mimi:  “No, but you can borrow one if you tell me when I will get my chicken back?”

Patricia:  “Mother, you said you have nine.  Why should I have to pay you back?”

Mimi:  “Patricia, I don’t know anybody the Safeway gives chickens to; not even poor people.  Now, if you don’t want to give me my chicken back, it won’t hurt my feelings one bit.  Go get your own chicken!!!”

She was probably 75 years old and financially set, but she still clung to her belief that every living soul has to learn to stand on his or her own two feet.  “Go get your own chicken” was simply her metaphor for life.  Keeping your money straight and being able to provide for yourself were, to her, the most important life lessons any of us can learn.  Nobody is responsible for taking care of you but you.  Those also are the lessons of The Money Game—learn the rules and play the game to win!

We thought Mimi was mean, strict and stingy.  But, she told us she was teaching us lessons to last a lifetime.  And, they have.

Mimi is no longer with us, but I hope with what I have written, her voice comes through loud and clear and that she lives on.  She had strong feelings about the role of money in helping each of us become self reliant.  I am grateful for her teachings and invite you to pick up a copy of the book so you can read some of them for yourself.  I assure you that if you take them to heart and learn and follow the rules of the game of money, you will glide more smoothly down the road to financial freedom.

Check out testimonials to and snippets from Mimi, Money and Me on my website at www.yourmoneywiz.com.  The book is simply written, easy to understand and will bring lots of smiles as you read some of the real-life stories.  Last December, the Washington Post listed it as a favorite to give the gift of financial education.

A Little Bit About Patricia A. Davis – B.S., M.B.A, M.S.

Patricia Davis is a former corporate financial management executive who now conducts seminars nationwide on the topic of Financial Literacy and provides personal financial counseling to individuals (and couples) at all income levels with a special emphasis on underserved populations including students, teens, welfare-to-work participants, federal employees, and seniors.

Ms. Davis is the Managing Director of Davis Financial Services and the Executive Director of Money Matters, Inc., a 501 C(3) nonprofit corporation. Both provide financial literacy education and training, and financial counseling. She is also a licensed provider of Camp Millionaire, a fun-filled financial literacy education program for kids, teens and adults.

Ms. Davis graduated from Howard University with a B.S. in mathematics and statistics (cum
laude); holds an M.B.A. from Stanford University (Top 1%); earned a Master of Science degree in
Personal Financial Planning from Golden Gate University (Top Student Award); and graduated
from the Stonier Graduate School of Banking at Georgetown University (with distinction). In
2009, she was appointed one of two Maryland state representatives to the Taxpayer Advocacy
Panel, a citizens advocacy group of the Internal Revenue Service that focuses on improving
IRS responsiveness to taxpayer needs. In 2010, she received Golden Gate University’s Alumni
Community Service Award in acknowledgement of her work in providing financial literacy to
underserved populations. Also, she is a former White House Fellow, and has appeared on radio
and television discussing financial literacy.

Ms. Davis lived in California for almost 20 years and returned “home” to the Washington, DC area
several years ago. She has held high-level positions at some of the country’s premier companies
such as Bank of America and Fireman’s Fund Insurance Company, both in California; MCI
in Washington, DC; and Allfirst Bank, headquartered in Baltimore.

She is the author of a new financial management primer dedicated to and inspired by her Mother, Mimi called Mimi, Money and Me: 101 Realities About Money Daddy Never Taught Me But Mama Always Knew.

Mrs. Davis is married, a marathoner, and travels extensively.