What Our Dads Taught Us

June 10, 2016

Since Father’s Day is right around the corner, I asked some coworkers what the best piece of advice their father gave them was. I’ll share their responses and add a bit of commentary with each one:

My dad is from Guyana and he stressed the importance of education in the U.S. He told me that my ability to grow my income will be based in part by finishing my degree- the rest is up to how hard I work.

As a dad who stresses the importance of education AND hard work (either one alone will not suffice), I totally agree with this dad’s advice. My kids have heard countless times that they are expected to do well in school and expected to put forth effort in all things they attempt to accomplish. This dad’s advice should be universally accepted as true wisdom.

Dad didn’t always say a lot, but he set a great example with how he prioritized his time.  He got to work early, was home on time for dinner with the family and helped us with homework if we needed it, then he went back to work until the job was done. If we had a ballgame or a concert, he adjusted his schedule to make sure to be there and he loved going to sporting events with me and my brother so he made that a priority as well.

Again, this is timeless wisdom from a dad who put family first. If more dads followed this path, perhaps we wouldn’t have many of the issues we see in this country today.

Don’t trust a man or get pregnant before having a job.

Well, this is certainly advice that served my coworker well. She’s a very independent and successful woman, and she’s raised lovely daughters as well. The principles of self reliance and good decision making that her father instilled, in his own unique way, have served her well. The lesson here, at least as I see it, is to find ways to communicate your financial lessons to your family members in ways that they will receive.

Mostly about being in a desperate situation or feeling down-trodden: 1 – You can’t fall off the floor. 2 – They can’t take away your birthday.

One of my favorite sentiments, this dad was all about the power of resilience. Resilience is a key trait in those who I’ve seen reach a high level of success. It’s what can keep a person moving forward toward a goal when most rational people would fold.

Have a firm handshake as it shows confidence.

A timeless pearl of wisdom, right there! A firm handshake and the ability to look someone in the eyes when holding a conversation sometime feel like “the way things used to be” rather than what I see in today’s higher tech world.

My dad was the one who taught me about how little changes add up. For example, when our credit union introduced debit cards back in the late 90’s, they were paying members $.25 PER TRANSACTION to encourage use of the card over checks. My dad was like, “Hot diggity, this is free money for spending money you’re already spending! You have to do this!” This was my first foray into taking advantage of rewards programs, discounts, etc, but ONLY on things I was going to buy anyway. I learned to be practical and frugal from my dad.

This dad should be a Financial Finesse blogger!!!

Your work ethic is something nobody can ever take away from you, so work hard and let it speak for you. It will take you further than your talent alone can and past the majority of people who aren’t willing to work as hard.

This reminds me of the first dad’s advice about education and effort. It kind of brings the list of dad tips full circle.

What I love about this list of tidbits from dads is that the children who received this advice ended up being successful adults and working here at Financial Finesse. Every single item on the list is also reminiscent of either what my grandfather taught me as a child or something that my kids have heard from me. None of these items seem like a “get rich quick” kind of message. It’s definitely a lot of tortoise and not much hare. If you absorb the messages from Financial Finesse’s dad squad, you are certain to be thankful this Father’s Day.

 

 

Who Consumers Really Need to Protect Themselves From

March 10, 2016

This week is National Consumer Protection Week so you might have been hearing a lot about how to protect yourself from fraud, scams, identity theft, etc. This is important information but the reality is that the biggest threat to us as consumers is staring at us in the mirror. Here are some ways we sabotage ourselves and what we can do to protect ourselves: Continue reading “Who Consumers Really Need to Protect Themselves From”

5 Questions to Ask Your Credit Card Company

March 08, 2016

National Consumer Protection Week, from March 6 to March 12, involves numerous organizations focused on helping to empower consumers to make informed decisions about financial products and services. Nowhere do I see a greater need for this than with credit cards. In my role as a resident financial planner, I have spoken to too many people who did not fully understand their credit card. The lack of understanding cost one employee hundreds of dollars in fees. If you are either shopping for a credit card or unsure of how your credit card works, consider asking these 5 questions: Continue reading “5 Questions to Ask Your Credit Card Company”

Using Rewards Cards The Right Way

September 02, 2015

Using credit cards that allow you to accumulate rewards or cash back is a great way to get more bang for your buck. It totally works as long as you start out with no credit card debt and stay that way. But this is also how many people end up in debt in the first place. (There’s a reason that card companies offer those plush rewards.)

Continue reading “Using Rewards Cards The Right Way”

Which Credit Cards Are the Most Rewarding?

December 04, 2014

One of my favorite things this time of year is being able to use credit card reward points to cover most or even all of my holiday shopping. While it obviously doesn’t make sense to buy things just to earn rewards (especially if you can’t pay the card off in full), why not get as much as you can from purchases you’re going to make anyway? In deciding which cards to use, there are a few rules of thumb I like to follow: Continue reading “Which Credit Cards Are the Most Rewarding?”

The 5 Most Rewarding Cash Back Credit Cards

October 17, 2013

I recently received an email from a friend asking for a suggestion for a new cash back rewards card. Credit card debt can be a dangerous thing but as long as you pay off the balance in full each month, getting cash back is a great perk to using credit cards. I especially like cash back as a reward because of the simplicity and flexibility it offers versus miles and other types of rewards. Without further ado, here are the best ones I’ve found: Continue reading “The 5 Most Rewarding Cash Back Credit Cards”