An old saying goes: “there’s only one pretty baby in the world, but every mother has it.” As the father of twins, I would modify that a bit, but it does remind us of our mothers’ devotion to us even before we are born, even if most of us are not very pretty at first.

Mother’s Day is a time when we can show our appreciation for Mom, spend some time, and maybe repay a little of the kindness that she’s shown us over the years. In addition to the card or gift you may have planned for your mother, I would like to suggest a free resource from the Treasurer’s office that could benefit your family for years to come.

It is an unfortunate fact that women still earn less money than men, particularly over the course of an entire lifetime. Women are also more likely to spend time out of the workforce during their careers to take care of their families. Consequently, women tend to have smaller pensions and retirement savings, leaving them on tight budgets as they age. It is also true that most families living in poverty have a single head of household, usually the mother, and in Ohio, women are more likely than men to be poor or disabled, according to the Institute for Women’s Policy Research.

As Ohio’s Treasurer, I recognize that some of the mothers in our state live with financial hardship. For that reason we have added more locations to our free series of Women & Money summer workshops. This program is designed to help women make sound financial decisions, learn more about what they can do to ensure their families’ financial security, and plan for their own future. Topics this year include budgeting and the wise use of credit; elder care; retirement planning; and identity theft-useful subjects for women of any age. To find the schedule for a free Women & Money program in your area, and to sign up, visit www.YourMoneyNowOnline.org.

Talking about personal finances can be, well, personal. It can be tough to open up a sensitive topic. Here are five suggestions about how to start talking with your mother about financial security:

1. Work together on a project to review your credit reports and dispute any incorrect entries. This will help both of your credit scores! For more information about obtaining free copies of your credit report and how to dispute erroneous entries or rebuild damaged credit, visit the “Your Money Now” website.
2. Encourage each other to create a checklist of where your bank accounts, life insurance policies, and investments are located. This will make it much easier to find this information in one place if anything happens to either of you.
3. Set and discuss some financial goals. Work toward your goals, and encourage each other along the way. Having someone to encourage you helps just as much in money matters as it does when you’re trying to get fit, or any other challenging pursuit.
4. Make a list of financial issues that have been in the news lately and discuss them with your mother. There is much worrying economic news lately. Help your mother separate fact from fiction. An impartial real-time resource with lots of helpful information is the “Your Money Now” web site.
5. Plan to attend one of the eleven Women & Money workshops being held across Ohio this summer. This free Friday program could provide a nice “getaway day” which enriches both generations.
   

Another resource available to you is the Women & Money workbook. This 280-page book is full of information about planning for the future. Subjects range from investing and saving to planning for retirement, and from buying a house to paying for a child’s college education. For one week, starting on May 10, you can download all or part of this valuable tool from the web site, www.YourMoneyNowonline.org. It could be a thoughtful gesture for Mother’s Day, and while you are online, you can sign up to attend one of the free Women & Money workshops in your area with your mother or mother in-law.

Spring is a time for renewal. Put your financial house in order with the Ohio Treasury’s Women & Money program and at the same time give your mother the gift of financial peace of mind. Visit www.YourMoneyNowonline.org.