In Latin America, the best father figure is still seen as the provider and worker figure. The experiences or how it handles the situations of the day to day can be passed as forms of learning to the children. Applies the same for finances and how you handle them.
The finances of the best father
With the occasion of the father’s day approaching, we have made a list of tips that can help the finances of the parents.
Reduce the guilty tastes
The guilty tastes usually do not bring real benefits more than mere satisfaction in making them or getting them. If you have any, such as vices that damage health, spending on sports, going to games, betting, etc., reduce them for a while and you can see an increase in your liquidity. This goal can be put when you are short of money or want to achieve a faster financial goal. It is not necessary that you leave all your tastes just for being rigid in finances.
Protect the future
Of course, considering that you are the provider of the house and who is responsible for finances. It is recommended that you think about the future of your children, from your health to the security of the heritage. This is achieved by purchasing insurance to protect them.
Maybe when children are young it is very difficult to give lessons about finances. But mainly that they understand the operation of money. You can start by instilling the habit of saving by giving a table or a piggy bank, little by little you will know more about this financial tool that is undoubtedly very useful in adult life.
Organization of expenses
The constant purchase of things, and without a plan, can cause you to resort to under-informed purchases. As children definitely need clothes, shoes and so on, organize your finances to make these big purchases once a year. They can coincide with some sales season. So for the rest of the year, you should not be spending constantly.
Free time with earnings
If during the weekends you have free time and you have some hobby that you can take advantage of, do not hesitate and take returns. The extra money always comes in handy to family plans and goals.
Money is not happiness
The best education you can give your children is that money is not happiness or the ultimate goal. It is not a better father who gives everything material to the children, but who spends quality time with them. In the end, the children will not remember how many and what toys they had, but the moments that happened with them.
Being a role model to give the best lessons on finances to children is not so difficult. Celebrate Father’s Day by directing your actions and habits to be the best father.