Categories: Financial Education

Financial Tips from Fathers

Father’s Day is approaching, and since we had such a good time talking about money with moms, we decided to ask some local dads for some advice. We hope you enjoy these financial tips from fathers.

Rob

Live within your means — spend less than you earn. Avoid debt like the plague that it can be. Always set aside at least some savings from each paycheck. Learn to be happy within your means — it’s actually quite easy to be happy on any income and it’s nearly impossible to be happy when burdened by debt. You always have a car payment. If not to your financial institution, then to yourself. Cars depreciate and eventually are worth nothing. If you have been making a car payment to yourself, then you can pay cash for your next car. Don’t ever be fooled into thinking that you don’t have a car payment.

Doug

Give 10% to charity. Put 10% in savings. Add 10% to retirement. Live on the rest.

Dave

Buy a vehicle you can afford and do your own auto repairs. Don’t go into a lot of debt.

Spencer

Set aside 10% of your income to invest in a no-load, no transaction fee Index Fund (such as the S&P 500). If you invest just $100 per month at an average of 8% interest over 30 years, your $36,000 investment would be worth $105,761.32. Let your money work hard for you.

Chris

Do not spend it before you have it. Be patient.

Mark

Avoid debt at all costs. Learn how to make and follow a budget early — it will help you understand how you spend your money and assist you with spending and saving goals. Make a commitment early to always save 10%. Set thresholds you will never go below as you meet savings goals.

David

Most children learn by doing. Give them the opportunity to manage their own money. As they grow older, but before they leave for college, they should have more and more opportunities. Give them the responsibility to purchase certain things for themselves, such as clothes and personal hygiene items. If the child does not have the funds, don’t bail them out. Allow children to purchase things even if it looks like a total waste of money. That is how they will learn. Better to let them learn young than when they have a spouse and children of their own.

Joel Hilton

Share
Published by
Joel Hilton

Recent Posts

American Advertising Federation and America’s Credit Unions Name America First Credit Union “Best of Show”

AFCU takes home six ADDY Awards and ten Diamond Awards, including Best of Show  …

4 weeks ago

Phoenix Rising FC Partners with America First Credit Union in Community-focused Multi-year Deal

PHOENIX, Arizona - April 29, 2025 - Phoenix Rising FC and America First Credit Union…

1 month ago

America First Credit Union Holds 86th Annual Meeting

RIVERDALE, Utah – April 15, 2025 – America First Credit Union (AFCU) held its 86th…

2 months ago

America First Credit Union Annual Meeting – 2025

In accordance with America First bylaws, the Board of Directors Nominations Committee has identified three…

2 months ago

America First Credit Union Delivers Big Wins During the 2025 Souper Bowl of Caring

America First Credit Union and community partners worked to combat hunger in Utah, Nevada and…

2 months ago

Utah Youth Soccer and America First Credit Union Team Up to Bring Soccer to More Utah Kids

New relationship with the Credit Union will offset participation costs for more than 23,000 youth…

2 months ago