1. My Childhood Affected My Financial Outlook

My first exposure to the pay gap between men and women was when I was 12, babysitting for my next-door neighbor’s two children. I was “paid” with a white, beaded Cherokee shoe coin purse (no coins included) since my neighbor thought it was somehow inappropriate to pay me cash. I doubted she would have given a 12-year-old boy the same thing for mowing her lawn.

2. I Hide Cash in My Jackets

When I get cash back, I like to tuck some in my coat pockets. If I go a while without wearing my coat, I get a rush from rediscovering the small extra stash of cash.

3. I Made a Big Investment in My Future

The hardest financial decision I ever made was to turn down two full scholarships to great North Carolina law schools and go into debt to attend Harvard with financial aid because I believed it had the strongest program in international law. Even though it made my family’s and my financial situation very tight (I graduated with no small amount of loans to repay), it was a long-term investment I am grateful to my parents for letting me make—not because it necessarily led to a better path, but because it certainly led to a different life that has been interesting and fulfilling.

Photo credit: Robert L. Wall

4. One of My Best Purchases Was a Cake Pan

One of my best purchases ever was an inexpensive Wilton Huggable Teddy Bear Cake Pan I bought 20 years ago and expected to use once, but have employed many, many times to make birthday cakes for my three daughters. One of my favorites was the “Hula Teddy Bear.” This year, I watched my middle daughter use it to make a Teddy Bear cake for her younger sister. It was a beautiful thing.

Photo credit: Silda Wall Spitzer

5. I Followed Great Advice--and It Paid Off

The best career advice I’ve ever received came from a highly-respected lawyer from my hometown when I was a college freshman considering whether to become a paralegal or a lawyer. This was back when the legal profession was just opening up meaningfully for women. He introduced me to his secretary and then showed me his office and law library. He said, “I trained my secretary to be my paralegal; she does a lot of the same work that I do and she's smarter than I am, but I make at least four times what she does. Study hard, make the best grades you can and apply to law school. Then, if you don’t get in, think about becoming a paralegal.” It was the first I learned about relative earning capacities of closely-related jobs. I followed his advice.

6. My Sister and I Share Initials for Economic Reasons

My frugal Scotch-Irish and English roots run deep, complete with a mom who gave my younger sister and me the same initials ("SAW") so we could use each other’s monogrammed hand-me-downs. No wonder I do as much simple sewing and mending as I can myself—reattaching buttons, sewing up small holes, repairing torn hems and patching, even making the occasional Halloween costume—and have saved quite a few dollars for it.

7. I Always Shop for Sale Items

I’m always looking for sales on quality items. I aim never to get less than 50% off. As my Grandmother Tucker taught, and I have since learned from experience, it is better to have one well-made piece than many lesser. Or, as my friend Karen Finerman likes to say, “Don’t buy the cheapest, because there’s usually a reason it’s the cheapest—buy the best.”

8. One of My First Purchases Was a Pair of Go-Go Boots

 One of the first purchases I recall making (with my parents' help) was a pair of white go-go boots when I was in first grade. Though they weren’t very expensive, it was an extravagance in our household to buy something all the rage (for those who remember Nancy Sinatra’s "These Boots Are Made for Walking") that I didn’t really need. I felt so stylish and wore those boots until they fell apart.

9. I Decorate With Homemade Art

Our family has a special tradition of decorating our home with homemade creations. For example, most of the art on our walls has been painted by one of us. It not only saves quite a bit, but, more importantly, brings us joy, makes our living space distinctive and fosters our right-brain talents. Once, when my children were quite small, we made a dining table out of a door, some two-by-fours and brackets. The kids loved it and we still use it.

Photo credit: Silda Wall Spitzer

10. I Teach My Daughters About the Importance of Financial Independence

Money is certainly not everything, but for better or worse, it’s our society’s currency. We women can be quick to give away our financial power (and, ironically, can feel quite noble in the process). After I stopped practicing law and became a stay-at-home-mom, I never worked harder … but I no longer received a paycheck. Then, when I began my not-for-profit to promote youth volunteering and service, I had to keep asking others for contributions. I realized how much power and influence those with financial resources really have. Even as I’ve raised a lot for my causes, I’ve been taking more ownership of my finances and providing more for myself. My wish is that my daughters fully own their financial power and not view it as a choice or a chore.