As we honor Mom on her special day, we should not forget Mom's advice on money matters.

"Look both ways before crossing the street." Streets are dangerous and you must be careful. The world of finances is a dangerous place too, and you also must be careful. Enter with caution and keep your eyes open.

"Save for a rainy day." This is very important advice from Mom. It translates to having an emergency fund to pay for unexpected things that happen. If you have an emergency fund, you don't have to put emergency expenses on a credit card.

"Don't put all your eggs in one basket." This means diversify your investments. Don't buy too much of any one thing; don't have too much in the stock market.

"Don't play with sharp objects; you can hurt yourself." In the world of finance, people who make a commission on things they "recommend" are sharp objects. Don't play with them. Learn how to do it yourself or get help from a fee only advisor.

"Finish your homework." Mom wants you to do well in school. The financial reason is a good education brings a good job and a good job brings benefits. Your financial life will be much better if you have a good health care program and good retirement benefits.

"Walk, don't run." If you are going into something new in finances, walk, don't run. Take your time, learn about it, think about it - do not make a hasty decision because some financial salesman bought you lunch. Apply the 24 hour rule.

"Eat your vegetables." Mom knows health is more important than wealth. Live a healthy life.

Thanks Mom for all your wisdom. Now, if we could only follow your advice.

Bill Stanley is the Money Coach. He welcomes your comments and questions - MoneyCoachBill@aol.com. "Listen to Your Mother" first was presented on Fox 21 Morning News on May 6, 2008. Watch "Money Matters" on Fox 21 Morning News, most Tuesdays at 820AM.