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Dads’ Financial Clichés Deserve Attention
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Tanisha Warner (713) 394-3202 |
Release Date: June 13, 2007 |
It is a father’s role to help his children become responsible adults. As many of us know, fathers have a habit of offering their children advice in the form of clichés. If your father’s arsenal of euphemisms included “because I said so,” you may have been inclined to ignore some of dear old dad’s advice. This is completely understandable since even the most loyal child can’t help but roll their eyes when dad says “you’ll thank me later.”
Before you disregard every pearl of wisdom your father ever quipped, you should know that many deserve your attention, financially speaking. The subject of money is often emotionally charged and can be difficult to discuss. By offering tried and true financial expressions during the course of your lifetime, your father may have taught you more than you realize.
This Father’s Day, honor your father by revisiting some of his financial clichés. You may be surprised to discover that there are some valuable lessons conveniently packaged in those easy-to-remember phrases.
• “A penny saved is a penny earned.” You should pay yourself first. In fact, financial experts agree with dad: you should have three to six months of living expenses saved in an accessible account, in addition to long-term savings vehicles, such as your 401k.
• “Money doesn’t grow on trees” is a seemingly simple expression that illustrates the value of money and hard work. One way to apply this to your life is to remember that credit cards are a tool of convenience and not an extension of your income.
• “There’s no such thing as a free lunch” goes hand in hand with “you reap what you sow.” If you heard this while growing up, dad was probably trying to tell you to stop looking for the easy way out. Most people will never win the lottery. In most cases, you will only get out of something what you put into it.
“The very definition of a cliché suggests that a phrase is overused and has lost its originality, said Cate Williams, vice president of financial literacy for Money Management International. “On the other hand, you might consider that there is a reason the expressions are spoken so often. Next time you are concerned that you are beginning to sound like your father, remember that just may be a good thing.”
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Money Management International, is a non-profit community service organization that provides confidential financial guidance, counseling and debt management assistance to consumers. MMI helps consumers trim their expenses, develop a workable budget, lower their debt payments and repay debts. Services are available by phone. To visit with an MMI counselor, call toll-free 1-800-762-2271- 24 hours a day, 7 days a week. Spanish speaking counselors are available. Consumers can also learn more by visiting the MMI home page at www.moneymanagement.org.
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