A Father’s Financial Advise To His Son

Yesterday, I forwarded the link of my blog to a good friend who is an accountant at a prestigious medical college/hospital in New York City. Moments later, my phone rang and I realized who was calling. I knew that it was in relation to the blog. He told me he read the articles and was impressed. He also mentioned that once a month he sends an email with financial tips to his son and other friends who respects his financial advice. He shared with me the email he sent to his son last month. After reading, I thought, how many parents speak to their kids about being responsible with money once a year, much less monthly? I thought this was awesome. I asked him what made him decide to do that and he said “it’s just something my parents were not able to do for me, due to the fact that they had limited information”. I asked him if it was ok for me to share his email with my blog audience and he said it was fine. So here is the email. We can all learn from his example. Do you currently coach your kids/nephews/nieces on how to be good stewards with money? If yes, great job. Continue to make an impact. If no, this email might give you an idea on how to start. It does not matter how much money we make, what matters is how much money we keep from the amount we make. “Happy savings”.


The first month of 2016 went by in a flash. Let’s keep things in prospective because if you don’t, half of the year will pass and then you begin to wonder what is going on. The conversation we have been having has given me the courage to put the following principles together.

If you can learn to live by these four important principles, you will see your financial borders begin to expand.

WORK HARD………….A lot of people want today, what it took their parents years to get. They’re just not patient or diligent enough to put in the same kind of effort over time that their parent did. They end up making poor investments trying to get rich quick, or go into debt to get things they can’t afford. We should live with excellence and integrity. That means that we give a good day’s work for a good day’s pay, and that we try as best we can to live within our means. Work is good for us, it gives us a sense of purpose and accomplishment, and is a form of service to others.

GIVE GENEROUSLY…………… The best way to be happy in this life is to help other people. That’s true of how we spend our time and certainly true of how we spend our money. It’s something I have experienced over and over. The more you give, the more you will receive.

SAVE DILIGENTLY………………..It’s extremely important that we be prepared for unexpected expenses, like a flat tires, house repairs and medical bills. When we have savings set aside for these emergencies, it will help us avoid going into debt. If you’re already saving regularly let me encourage you to set aside additional amount each paycheck as a personal saving. Start with whatever you can afford and save more as you’re able.

SPEND WISELY……………… You need to spend some of your money. Buy yourself something nice once in a while. While saving is important just make sure that when you’re spending, you’re following a few of the below guidelines.

Know what you have. Make sure that you’re balancing your checkbook and have a budget prepared so that you know what is coming in and what’s going out. Don’t buy what you don’t need, the quickest way to the prison of debt is convincing ourselves that “want are needs”. If you don’t need and it’s not in your budget, then be bold enough not to buy it.

Pay off debts immediately. Living debt free will give you the flexibility to live more generously and abundantly. If you’re in debt now, make a plan to get out. Start with the smallest debt and work toward the biggest ones. Figuring out the best options for your financial future can seem over whelming with all the choices out there but it begin with YOU.


Posted in Finances.

One Comment

  1. This is sound advice. Every parent needs to begin serious futuristic talks with their kids at an early age. Involve them in making financial decisions in the home. Let them experience you budgeting. Show them what savings can do for them over time. They will appreciate you for that influence later in life when they have major decisions to make and can fall back on principles taught by Dad or Mom. Thanks Malcolm.

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