I used to think "Mother-In-Law" jokes were pretty stupid, that is, of course, until I actually had one. A mother-in-law that is. Now, I have a complete understanding of how those jokes came to be. I actually laugh at them now. In fact, I tell a few of them these days.
In fact, I am pretty certain that every one of them since the dawn of time has been written about my mother-in-law in particular.
So, what does this have to do with money you might ask?
Most mothers don't think their kids, even if the "kid" is in their forties, can make very good decisions. Especially when it comes to selecting a spouse.
In fact, most mothers don't believe that there is really anyone actually good enough for their son or daughter.
Chances are that you deal with this too. It makes no difference if you are male or female. A mother-in-law is a mother-in-law. Period.
In most families, the the wife is the "family treasurer". Now most women will tell you it is because their husband"just doesn't do it, and doesn't want to do it". What they leave off of that sentence is "...well enough to satisfy me." but that is a discussion for another day.
The dynamic between a mother-in-law and daughter-in-law is much different than what is between a son-in-law and mother-in-law. I don't know why its like that, nor do I think I want to know, but since the finances are usually handled by the woman in the family, the idea that things aren't going well on the financial front is not just fuel for the fire. It is JET fuel for the fire.
So if you are the family treasurer, and want to prove "her" wrong about your "worthiness", you might consider nudging that spouse of yours to learn how to become debt free. This one step, will not only get your mother-in-law on your side, even if only for a moment or two, but will also do the following:
Save you THOUSANDS of dollars.
Position yourself to retire.
Improve your cash-flow.
Avoid depending on Social Security and Medicare.
Have a better relationship with your spouse.
Be able to afford sending your kids to college.
Last but not least, you could be able to burn your mortgage before your mother-in-law can burn hers! If that is not a good enough reason, I guess I wouldn't know one if I saw one.
The benefits of being successful financially are easy to measure, but the benefit of proving a mother-in-law WRONG is immeasurable. Not to mention incredibly satisfying.
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