Skip to main content Accessibility Statement
Father and daughter with piggybank

Revealed: The lessons our fathers taught us about money

What did your father teach you about money? Whether he was a savvy saver, had an eye for investments, or gave you a ticking off for reckless spending, chances are he had more of an influence than you think.

My father taught me the importance of being independent with my money. Maybe it’s the protective parent in him, but he has always been very adamant that I have money and savings of my own, and don’t rely on anyone else (including him and my mother!).

While I think it’s important to be honest about your finances in relationships, this independence with money has stayed with me.

In honour of Father’s Day, we asked our colleagues to share their stories of how their fathers influenced their money habits, and what they are passing on to their own children.

What did your father teach you about money?

Vik Iyer

‘My dad made a point of not spoiling me when I was a kid which was annoying at the time but I am definitely applying that with my own child. Weirdly in later life he was very generous but it’s for really important things like, property and career development….possibly more useful than extra He Man toys!’

Nicholas Hill

My dad used to have a saying – count the pennies, and the pounds will take care of themselves. If you can save a small amount, it soon adds up. He also told me to invest in the things you understand, such as property. Don’t ever take a risk on something you don’t fully comprehend.’

Thomas Galluzzo

‘My dad told me to always try to have a bit of money as a buffer at the end of each month. He also told me to always have a ten dollar note (I grew up in Australia) in my wallet for emergencies.’


Mo Raja

‘My parents made me do the cleaning and household chores (although my own mess) to earn pocket money. My kids earn money now by doing the same. I also learnt never to tell my parents how much I really spent on my shirts. I got a good ticking off once for (apparently) spending beyond my means!’

Ross Dalziel

‘My dad taught my sister and me from an early age to save our loose change in big old fashioned Quality Street glass jars (with coin slot cut into the lid), for treats on a rainy day. To this day I still save my pennies in a tin or jar!’

Gary Harvey

The giant empty whisky bottle for collecting loose change was a constant in the households of my dad and even my grandad and I think instilled a good saving habit into my daily routine. It’s a nice physical reminder of an ongoing commitment to a long-term saving pot.

Partly from being too lazy to find the right change at the checkout, and partly from having a personal dislike of loose change jangling in my pockets, I now empty any change below the value of 20p into the pot every day.’

Gary also shared this great video of his two-year-old picking up the habit of saving already with her money box -

What money habits did your father teach you? Is there anything you will be passing down to your children?

 

What do you think?

We really want you to share your views, but please remember to be nice ☺
All fields are required. Check out our full commenting guidelines

By clicking on 'Post Comment', you're agreeing to our Commenting Policy

  • Mark / 25 June 2015

    A whisky bottle featured in my father's lessons too. But my father was terrible at managing money. Much of what he earned (when he was earning) went on drink. He had other redeeming qualities though. Not sure I learned any lessons on money management from him except that I wanted to do something different.