The Most Important Financial Lessons My Dad Ever Taught Me

Some people's dads teach them to ride a bike or play softball. My uncle usually stepped in to do those things -- partly because it was his forte, and partly because when I was young, my dad was constantly working. 

I'm extremely proud of the way my dad has worked his way up professionally and built himself a solid career. But when I was younger, his earnings weren't as high, money was tighter, and he often had to put in time on the weekends so my family could make ends meet -- hence my uncle needing to come over on a Sunday to toss a ball around. 

I'm grateful that I seem to have picked up my father's work ethic. As a self-employed writer, it's helped me stay on track through the years. But I'm also grateful for these important lessons my father made sure to teach me.

1. Always have emergency savings

You never know when an unplanned bill might pop up out of the blue, whether it's a car repair, home-related issue, or medical copay. That's why it's so important to have money in a savings account.

That's something my dad taught me at a young age. As a teen, I earned money by babysitting and working at day camps during the summer, so it wasn't a lot of cash by any means. But rather than spend it, I put the bulk of it into the bank as per my father's suggestion, and that was the start of my emergency fund. 

As I got older, I was able to build up my savings. And trust me when I say that through the years, my emergency fund has bailed me out of a number of financial jams.

2. Never fall back on credit cards

My parents used credit cards when I was growing up. But their rule was to pay off each balance in full by the time it came due to avoid racking up interest. 

When I got my first credit card, my father warned me to never charge more on that card than what I could afford to pay off at the end of the month. He also reiterated that I should always maintain a solid emergency fund to avoid having to rely on a credit card to cover an unplanned bill.

3. Share the wealth

Even though we didn't have a lot of money growing up, my parents always made a point to give to those less fortunate. That's something my father instilled in all of his kids, and so these days, there are a few specific charities I aim to donate to on a regular basis. 

Now, there have been periods in my life when my income has declined and I've had to cut back on charitable donations. But I also try to make a point to increase my charitable contributions during periods when I'm earning more. 

Many kids rebel against their parents as they get older. But I never felt that need. If anything, I found myself increasingly turning to my father for advice as I navigated my teenage years, college, and young adulthood. I'm extremely grateful that my father taught me these important lessons. And even to this day, I find myself seeking out his opinion when I need guidance.