When it comes to money, do you follow your dad’s advice? Fathers may not always be the perfect money role models. But that’s the nice thing: we can learn from our dear ol’ dads’ example whether it’s good or not so good.
For Mother’s Day, we featured financial advice from some fellow MoneyStranders’ mothers. Now in honor of Father’s Day, we couldn’t wait to share more money lessons. Here are a few pearls of wisdom:
1. Play by the rules
Anna Oriola – UX & UI Designer
“Pay your debts and never cheat”. Anna’s dad showed her from an early stage the importance of being fair, working smart and with integrity. “Especially when doing your taxes, be just as honest as you can: save your receipts, track your expenses and pay them.” Anna will never forget this motto: you should always tell the truth, even if lying seems easier in the short run.
2. Earn first. Spend later
Albert Morales – Product Manager
No matter how much you earn, make sure you put some aside for your savings and then live on the rest. Albert’s father taught him how useful it is to live within your means, “which also requires being mindful of how you spend your money”. If you’re spending more than you’re saving, you’re already started digging yourself into debt.
3. Do what you love. Money will follow
Felix Garcia – Mobile Tech Lead
This seems cliché at first because it sounds like you can just start something and it will automatically work out. But doing what you are passionate about means taking action. That’s the treasured lesson Felix learned from his father: it’s the energy that comes from doing what you love that brings about new opportunities.
4. Invest in knowledge
Juanma González – Usability & Integration
Juanma’s dad is a big believer in learning. “If you find ways to educate yourself throughout your life, you’ll keep growing forever”, he urged. To his father, education is more than getting a diploma. Whether it’s through reading, meeting inspiring people, or traveling, you can always improve what you have to offer by learning new things and building on your skill set.
5. Everything in moderation. Even money
Miriam Ballesteros – Marketing Manager
Making money is important, no doubt. But when accumulating wealth becomes an obsession that stops you from being happy, you should breathe, step back and focus on what brings you joy. At the end, no one takes money to the grave. So you shouldn’t forget to spend on what you love.
Have your own financial advice from your Pops? Share his quips and wisdom in the comments below: