dad

5 Times Dad Was Right About Money

Emily Guy Birken — Thu, 01 Jun 2017 08:00:12 +0000

Despite what you may have thought as a teenager, it turns out your old man actually knew a thing or two — particularly when it came to money. True, Dad's wisdom might have sounded like corny jokes, dusty cliches, or weird logic at the time, but there was some great information in there among the eyeroll-inducing humor.

So at the risk of having him say "I told you so," let's take the time to recognize some of the ways Dad was right about money. Here are five of the money lessons he taught us well:

1. "If it sounds too good to be true, it probably is"

Your dad probably told you this to protect you from con artists, frauds, and crooks, as well as those friends of yours he never liked. When you were a kid, Dad probably wanted you to remember his advice when a friend told you that you could definitely get away with whatever scheme they were trying to talk you into. But it's important to keep this advice in mind when you are offered a "once-in-a-lifetime investment opportunity" as well.

It's easy to see dollar signs (or imagine a Ferris Bueller-like day of playing consequence-free hooky) when someone is presenting you with an offer that seems too good to be true. Reminding yourself that dear old Dad would probably tell you to back away slowly from such an offer can be enough to make you stop your impetuous rush toward untold fortune — or a whirlwind tour of Chicago in a stolen Ferrari.

2. "You don't need that"

When I was in elementary school in the 1980s, all the cool kids wore Jordache jeans, which my father very patiently explained to me that I didn't need. He clearly did not understand the importance of that horsehead label to one's standing in the social hierarchy on the playground.

When Dad told you that whatever item you believed was vital to your life and happiness was not something you needed, you were probably just as disappointed as I was. But as infuriating as it was to hear this, he was helping you learn the difference between wants and needs. To this day, I can hear Dad's voice in my head telling me I don't need whatever impulse purchase is trying to come home with me. I usually listen to him, too — unless it's a pair of awesome jeans.

3. "You've got Champagne taste on a beer budget"

Wanting something you cannot afford seems like a simple enough problem to solve when you're a teenager living at home — ask Mom or Dad to buy it for you. That request does not often end well for the teenager. Many an aspirational teenage consumer gets this sarcastic response from Dad regarding the relationship between their taste and their budget.

Coveting things you can't afford can destroy any budget, and your dad wanted you to understand that it's a short trip to bad finances if you try to indulge your high-end tastes. Dad was trying to teach you how to be realistic about your budget and stick to indulgences that you could realistically handle.

4. "Money doesn't grow on trees"

This is one of the greatest hits of dad sayings, and you probably heard it many times throughout your childhood. He'd dust this old chestnut off whenever you were blatantly wasteful, or whenever you asked for something that he wasn't willing to pay for. In some households, turning the thermostat up by a single degree would result in Dad materializing from nowhere to remind you that trees just don't produce currency.

At the time, this lesson just sounded like Dad being an old stick-in-the-mud. But he was actually trying to remind you that there is a cost to money. Someone (ahem, your parents) had to work for the money necessary to keep the house at a comfortable temperature, replace the toilet paper you used to TP your friend's house, and buy the guitar you so desperately wanted but you never actually practiced playing.

As an adult, it's much easier to understand that money isn't freely available when you realize you have to work in order to earn more. Suddenly, it makes sense why Dad turned into a financial botanist whenever you spent his money.

5. "The best things in life are free"

If your dad was anything like mine, he might have told you this when you asked him for money. While his attempt at being funny was probably not well received, the actual message also made you roll your eyes — since there are plenty of awesome things in life that you have to pay for.

This is a lesson that needs to marinate for a while before it resonates. Teenage you may have just seen this cliché as a cover for your dad not wanting to give you money to go out with your friends. However, adulthood often brings the realization that the things that really do make life sweet — like sunsets, belly laughs, kisses, and naps — are not things you can buy. Dad was right when he told you that you don't need to spend money to enjoy the best of life, even if he was a little too schmaltzy in how he told you.

Appreciating Dad's words of wisdom

Many of the things your dad told you about money might have sounded hokey when he first said them, but it doesn't make them any less true. Let your dad know how much you have learned from him, and how much you appreciate his wisdom, if not his sense of humor.

This article is from Emily Guy Birken of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: Financial Tips From Dad

Ashley Jacobs — Fri, 13 Jun 2014 17:00:19 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some amazing articles on financial tips from dad, managing your money in retirement, and financial goals everyone should strive for.

Best Money Tips: Affordable Presents for Dad

Ashley Jacobs — Fri, 06 Jun 2014 17:00:29 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some great articles on affordable presents for dad, getting a frugal start on summer, and how not to drown in student loan debt.

Best Money Tips: DIY Gifts for Dad

Ashley Jacobs — Wed, 12 Jun 2013 10:00:43 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some awesome articles on DIY gifts for dads, meaningful and unique wedding gifts, and how to save on running shoes, gear, and events.

10 Meaningful, Money-Saving Ways to Celebrate Dad

POPSUGAR Smart Living — Wed, 05 Jun 2013 10:36:35 +0000

Showing Dad you love him doesn't have to mean sending him on an expensive golf vacation or buying him a new camera. The special day should be all about connecting with him, and there's no better way to do so than by spending some quality time together. Here, we've rounded up meaningful activities you can do no matter where you live or what budget you have — all the activities are free or cost very little. Cheers to being fun and frugal with Dad!

1. Pack a Picnic

Picnics are for spending quality time with loved ones, and that certainly includes Dad. Take time to pack snacks you know he'll like, and head to the park for a day of sun and making memories.

2. Play Tourist

Make like a tourist and see sights in your own city that you often overlook. If Dad grew up there, he might even share some stories of his younger days around the block.

3. Browse Books

Whether it's at a local bookstore or public library, you two can get lost for hours surrounded by books. Discuss which genres are your favorites and why, buy one another a favorite book, or take home the same book so you can start your own book club for two.

4. Take a Cooking Class

Get ready to roll up your sleeves for some quality cooking time with Dad. Many culinary schools and even locals will open up their doors and homes to teach you how to make a delicious meal at a fair cost.

5. Play Mini Golf

He doesn't have to be a big golfer (or a middle schooler) to appreciate the fun that comes with a good game of mini golf. Other similar and budget-friendly ideas include bowling or hitting the batting cages.

6. Watch Home Movies

Break out those VHS tapes collecting dust in your drawers and take a trip down memory lane by watching homemade movies with Dad. You'll not only get to see how much you've changed, but you can also poke fun at Dad's camera skills.

7. Tour an Art Gallery

You'd be surprised at how many art galleries — and even big museums — open their doors for free or offer discounts. Bond with Dad while strolling past beautiful paintings and sculptures.

8. Go For a Hike

There's nothing like some fresh air and scenic views to enjoy the day. If Dad is someone who likes to hike a lot, ask him to take you on his favorite trail.

9. Go Wine Tasting

You don't have to travel to the vineyards of Napa to enjoy some wine tasting with Dad. Do so right at home by looking up wine bars and clubs that typically offer samplings at an affordable cost.

10. Learn Your Family History

It's not very often that we sit down with our parents to learn about their upbringings. Take this time to go through old family photos or mementos with Dad; ask him about his grandparents and to tell you all that he knows about your family's genealogy.

Father's Day isn't about pricey ties and expensive steaks; it's about honoring a man you love. Show how much you care with these frugal suggestions.

Guest Post Blurb:

This is a guest contribution from our friends at POPSUGAR Smart Living. Check out more useful articles from this partner:

This article is from POPSUGAR Smart Living of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: Inexpensive Father's Day Gift Ideas

Ashley Jacobs — Tue, 12 Jun 2012 09:48:16 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some great articles on inexpensive Father's Day gifts, credit card mistakes, and unexpected costs in retirement.

Best Money Tips: 10 Free Things To Do For Dad On Father's Day

Ashley Jacobs — Fri, 17 Jun 2011 10:00:09 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some awesome articles on 10 free things to do for dad on Father's Day, how to double your cash back spending rewards, and how to spot a scam.

dad

5 Times Dad Was Right About Money

1. "If it sounds too good to be true, it probably is"

2. "You don't need that"

3. "You've got Champagne taste on a beer budget"

4. "Money doesn't grow on trees"

5. "The best things in life are free"

Appreciating Dad's words of wisdom

Best Money Tips: Financial Tips From Dad

Top 5 Articles

Other Essential Reading

Best Money Tips: Affordable Presents for Dad

Top 5 Articles

Other Essential Reading

Best Money Tips: DIY Gifts for Dad

Top 5 Articles

Other Essential Reading

10 Meaningful, Money-Saving Ways to Celebrate Dad

1. Pack a Picnic

2. Play Tourist

3. Browse Books

4. Take a Cooking Class

5. Play Mini Golf

6. Watch Home Movies

7. Tour an Art Gallery

8. Go For a Hike

9. Go Wine Tasting

10. Learn Your Family History

Best Money Tips: Inexpensive Father's Day Gift Ideas

Top 5 Articles

Other Essential Reading

Best Money Tips: 10 Free Things To Do For Dad On Father's Day

Top 5 Articles

Other Essential Reading