Money doesn’t have to be boring! Each week, CreditBloggers.com
takes a look at the lighter side of the personal finance world in a
series called Funny Money Friday.
In honor of Father’s Day this weekend, we are sharing our father’s best money tips with you! After all, our team of financial experts each got their start with weekly allowances and advice from their parents. Here’s what we learned from Dad:
Gerri Detweiler – Personal finance author, radio host and EverydayWealth credit expert
My dad always said our favorite toy was the box the appliances came in.
Every time I try to clean out my daughter’s room I get hit between the eyeballs with this one. At 7 years old, she’s accumulated so much stuff already, and some of it has barely been played with.Dad was right. And one of these days I’ll start listening.
Todd Kutcher – Chief Operating Officer of Credit.com
The bigger the pile of money the more dangerous the sharks that are swimming around it.
John Ulzheimer – Credit scoring and credit reporting expert formerly with FICO and Experian
1. Dad’s advice…As long as you make your minimum payment each month everything will be fine.
Today’s reality…yeah, if you don’t mind being in incredible credit card debt.
2. You should never buy anything on the internet.
Reality…Most reputable internet sites have encryption logic that rivals NASA. But, he’ll give his credit card to a high school drop out who disappears for 10 minutes to run his card after going out for dinner.
3. You want to try and get a job where you are in management and have people reporting to you.
Reality…yeah, if you want to get laid off when the company chops away all of the middle management fat.
Nancy Castleman – Investing, personal finance and small business expert and author.
My dad was a child of the Depression, who taught me about money by example. He bought less house than he could afford, to sock money away to put my sister and me through college, to send us to summer camp, to take us on great trips — including a photographic safari to Africa. We were especially fortunate that he saved when he was young, because he got very sick in his late forties. Although he lived for another 30 years, he probably never earned as much money.
Randy Johnson – Mortgage broker, author and real estate expert.
WORK!
SAVE!
Emily Davidson – Former TransUnion credit expert and moderator of CreditBloggers.com
My dad taught me that managing your money wisely can help you achieve your dreams. After growing up during the great depression, he managed to start his own company, go to medical school (in his 40′s!) and buy his dream sailboat. Saving and planning may be a pain but it pays off!
Adam Levin – Founder of Credit.com and former Director of the New Jersey Division of Consumer Affairs.
Never forget that all money is round. You can lose it as fast, if not faster,
than you made it.
What did your dad teach you about money? Share your Father’s Day feedback in the comments section below. Happy Friday!